The Kingdom of Saudi Arabia is embarking on a journey to transform the country by 2030. The KSA Vision 2030 aims at decisively developing the Industrial landscape of the Kingdom via various programs. Efforts like the National Companies Promotion Program, Human Capital Development Program, Strategic Partnerships Program, National Industrial Development and Logistics Program, National Transformation Program are examples of this initiative.
One excellent opportunity for investors to capture in the Kingdom, is to build downstream manufacturing capabilities for carbon fiber reinforced plastics to meet the expected growing needs in renewables (wind energy), automotive, oil and gas, building and construction and other applications. Local suppliers of these materials will have the advantage of being able to supply essential intermediate products like Prepreg, Pultrusion, and Compounding.
To envision the expected consumption of carbon fibers, Saudi Arabia is undergoing a significant transition to low-carbon energy generation targeting an ambitious 16 GW of wind power installation by 2030 and localization of blades manufacturing. In addition, the KSA automotive 2030 vision aims to attract 3-4 OEMs across ICE and EV value chain enabled by the Saudi Auto City with high quality automotive infrastructure.
SABIC, a global leader in the chemical industry, will play a key role in supplying resins to investors in KSA which are suitable for applications in commercial aircrafts, auto, pipe and other segments.
Recently, SABIC introduced the newest addition to its expanding portfolio of thermoplastic materials. UDMAX™ unidirectional fiber reinforced thermoplastic composite tape products compliment its legacy portfolio of filled injection moldable compounds e.g. STAMAX™. The new continuous glass fiber reinforced polyolefin tape is designed for reinforcing industrial applications, such as pipes and pressure vessels, offering unmatched tensile strength. This novel product has one of the highest glass content available in the industry combined with and optimal fiber distribution and resin impregnation.
SABIC, Saudi Arabia