Sellbyville, DE -- (SBWIRE) -- 11/06/2018 -- According to a new research report by Global Market Insights, Inc. MEA Polyurethane Market size for automotive industry is set to surpass USD 385 million by 2024.
Rising passenger car vehicle production owing to high spurge in middle-class and youth population along with demand for luxury vehicles will stimulate the need of these products in the MEA region. The middle-class population in Africa is approximately 35% of the continent's total population and is expected to grow at a faster pace which will further foster MEA polyurethane market for automotive industry.
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Polyurethane products are lightweight, durable and provides excellent corrosion resistance, sound absorption and insulation properties. These materials offer automobile manufacturers to produce seating's which are easily recycled, assembled and disassembled. Additionally, coatings from these materials provides protection from oxidation and humidity along with providing glossy shine to vehicles. Growing consumer preferences towards high performance plastics as a substitute for conventional metals will stimulate the MEA PU market for automotive industry demand.
MEA polyurethane market for automotive industry size from flexible foams will expect growth rate close to 4.5% by the end of forecast period. These products are gaining huge popularity in the automobile sector owing to its superior properties such as versatility, cost-efficient, lightweight, durability and environment friendliness and has increased usage in truck beds, fenders, cushion interior panels, headliners, headrests and armrests thereby promoting product demand.
MEA polyurethane market for automotive industry size from seat foams will register significant gains close to 5% by the end of 2024. PU based seat foams provides flexibility to the auto manufacturers in creating effective and stylish designs along with complete passenger safety. The rigid and flexible foams incorporated into car seats reduce the foam density of seat cushions along with providing excellent pressure distribution properties.
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MEA polyurethane market for automotive industry size from passenger vehicles may register growth close to 4.5% over the foreseeable timeframe. Increasing penetration of passenger cars in the region owing to improved economic conditions coupled with high growth in young population and their changing lifestyle patterns will propagate vehicle demand, thereby driving Middle East & Africa PU market for automotive industry size.
MEA PU market for automotive industry demand from cushion overlay application may witness growth at over 4% over the forecast period. Cushions used in automotive car seats provides pleasurable driving experience along with maximizing ease and flexibility for passengers. Rising consumer demand for maximum safety and comfort along with enhanced aesthetics will majorly influence the PU market size.
TDI and MDI are widely used in the manufacturing of PU for the automobile sector. PU foams are gaining popularity and increasing usage in car seat padding owing to the freedom of geometric design along with material's flexibility as they can be adjusted while manufacturing to achieve the level of comfort targeted for the car seat, resulting into growth of MEA polyurethane market for automotive industry.
Iran polyurethane market for automotive industry demand should register significant growth at over 4.5% over the forecast period. Rising demand for personal vehicles along with strong investments in transport infrastructure facilities will stimulate the transport sector in the country. Additionally, easy access to vehicle finance is promulgating the purchase of vehicles. Iran is the second largest economy in the MEA region followed by Saudi Arabia with better economic conditions and higher GDP.
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Egypt PU market for automotive industry size is expected to surpass USD 4.4 million by the end of 2024. The automobile sales in the country was over 181,000 in 2017. Rising demand of polyurethane materials from OEM and aftermarket sector owing to its beneficial usage in vehicles will foster the industrial demand.
MEA Polyurethane Market for Automotive Industry for automotive application market share is concentrated with various players including BASF, Huntsman, Dow Chemicals, DuPont, Bayer, Johnson Controls, Deltachem, Middle East and Borealis are the prominent industry participants in MEA polyurethane market. High R&D spending by manufacturers towards comply with environmental regulations may improve & expand product diversification thereby stimulate industry growth