between 2021 and 2026. The composites offer exceptional properties such as stiffness, strength, toughness, density as well as thermal and electrical conductivity, fatigue and corrosion resistance. Because of these excellent properties of the composites, conventional materials such as aluminum steel are less preferred in high performance applications.
New York, December 06, 2021 (GLOBE NEWSWIRE) – Reportlinker.com Announces the Release of Composite Materials Market By Fiber Type, Resin Type, Manufacturing Process, End-Use Industry, and Region – Global Forecast to 2026 – https://www.reportlinker.com/p05088873/?utm_source=GNW
However, the global pandemic disease COVID-19 has forced automobile, wind blade and aircraft manufacturers to shut down, resulting in lower demand for composites in 2020.
In terms of value, natural fiber composites are the fastest growing market for fiber composites.
Natural fiber composites are expected to have the highest CAGR in value between 2021 and 2026. Natural fibers such as flax, hemp, jute and kenaf as well as a polymer matrix such as polypropylene, epoxy, polyethylene or polyester form the natural fiber composite.
The use of natural fiber composites as an alternative to glass fiber composites is increasing in many end-user industries.
Thermoplastic composites are the fastest growing resin type of composites by value.
Thermoplastic composites are the fastest growing type of resin. The thermoplastic composites are easy to reshape and reshape and can therefore be reused.
Therefore, companies are investing in research and development for mass production of thermoplastic composites in order to reduce their costs. However, the continuous lockdown in the US, Spain, Italy, India and other countries has suspended the production of automobiles, aircraft parts, wind blades and other components, which has had a negative impact on composite manufacturers and could reduce demand for composites from various end-user industries.
The Resin Transfer Molding (RTM) manufacturing process is the fastest growing composite manufacturing process in terms of value.
RTM is a vacuum assisted resin transfer process that uses a flexible rigid counter tool for surface compression. This process leads to increased laminate compression, a high glass-to-resin ratio and excellent strength-to-weight properties.
It is mainly used for molding parts with large surfaces, complex shapes, and smooth surfaces. The growth prospects for the RTM process over the next five years are very good due to increasing applications in the automotive and construction industries in emerging countries.
It is the most promising technology available today as it can deliver large, complex three-dimensional components with high mechanical performance, tight dimensional tolerances, and high surface quality.
Wind power is the fastest growing composite end-use industry by value.
It is expected that wind energy will grow with the highest CAGR in the forecast period. The use of composite materials in wind turbines offers high tensile strength and helps manufacturers achieve larger rotor blades and higher energy yield.
Because of their corrosion resistance, composites have helped the wind industry grow by enabling wind turbines to operate in the harshest of environments. Due to COVID-19, there was partial production in various wind turbine manufacturing facilities, which had an impact on the demand for composite materials in the wind energy sector in 2020.
APAC is the fastest growing composite market.
APAC is projected to have the highest CAGR for value in the global composite materials market during the forecast period. APAC dominated the composites industry in 2020.
Compared to their European and North American counterparts, composite material manufacturers have great opportunities in the APAC market due to low-cost labor and raw materials.
Due to COVID-19, composites manufacturers and numerous companies have closed their production sites in various countries, which has resulted in lower demand for composites in APAC countries. The recovery in the end user industries with a restoration of the supply chain would drive demand for composites over the forecast period.
This study was validated through primary interviews conducted with various industry experts worldwide. These primary sources have been divided into the following three categories:
â¢ By type of company – Tier 1 – 40%, Tier 2 – 33% and Tier 3 – 27%
â¢ By appointment – C-Level – 50%, Director-Level – 20% and others – 30%
â¢ By region – North America – 15%, Europe – 50%, Asia Pacific (APAC) – 20%, Latin America – 5%, Middle East and Africa (MEA) – 10%,
The report provides a comprehensive analysis of the company profiles listed below:
â¢ Owens Corning (USA)
â¢ Toray Industries, Inc. (Japan)
â¢ Teijin Limited (Japan)
â¢ Mitsubishi Chemical Holdings Corporation (Japan)
â¢ Hexal Corporation (USA)
â¢ SGL Group (Germany)
â¢ Nippon Electric Glass Co. Ltd. (Japan)
â¢ Huntsman International LLC. (US)
â¢ Solvay (Belgium)
This report covers the global Composites Market and forecast the market size to 2026. The report presents the market segmentation – Fiber Type (Glass Fiber Composites, Carbon Fiber Composites, Natural Fiber Composites, and Others), Resin Type (Thermoplastic Composites and Thermoplastic Composites), Manufacturing Process (Lay-up, Filament Winding , Injection molding, pultrusion, compression molding, RTM and others), consumer industries (aerospace, defense, wind energy, automotive and transportation, construction and infrastructure, shipping, pipes and tanks, electrical & electronics, and others) and region (Europe, North America , APAC, Latin America and MEA).
Porter’s Five Forces Analysis along with the drivers, restraints, opportunities, and challenges are discussed in the report. It also offers company profiles and competitive strategies followed by the major players in the global Composite Materials Market.
Main benefits of buying the report:
The report will assist market leaders / new entrants in this market in the following ways:
1. This report comprehensively segments the global Composite Materials Market, providing the closest approximations to the revenues for the total market and its sub-segments in various industries and regions.
2. The report helps the stakeholders to understand the pulse of the Composites market providing them with information regarding the major market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders better understand competitors and gain more insights to improve their position in their business. The Competitive Landscape section includes the competitor’s ecosystem, new product development, agreements, and acquisitions.
Reasons to Buy the Report:
The report will assist market leaders / new entrants in this market by providing them with the best approximations to the revenues for the total Composites Market and its sub-segments. This report will help stakeholders understand the competitive landscape and gain more insight and position companies and market strategies better.
The report will also help the stakeholders to get the pulse of the market giving them information regarding the key market drivers, restraints, challenges, and opportunities.
Read the full report: https://www.reportlinker.com/p05088873/?utm_source=GNW
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