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Composite Material Market: COVID-19 Impact and Global Analysis Forecast to 2028

Published Date: May 2021

No. of Pages: 201

Status: Upcoming

Report Code: EMR100307

Composite material is generally of two types namely carbon fiber reinforced plastic and glass fiber reinforced plastic. CFRP are composite materials made through implantation of a tar and a carbon fiber fortification. They offer high weight investment funds, expanded elasticity, weariness resistance, affect resistance and toughness which make them perfect for use in broadened mechanical applications. CFRP items are progressively substituting metals in different car applications, principally to decrease fuel utilization. They are utilized as a part of assembling of tennis racquets, aviation and car segments, defensive protective caps, sharp edges for wind turbines, shaping mixes, plates for building and development and imaging gear structures. These materials can be utilized as a compound or water purifier inferable from carbon being an effective permeable. Glass fibre is a lightweight and tough fiber delivered from fine strands of glass. When contrasted with carbon strands, glass filaments display low weakness and the strands of glass utilized for their creation are more practical.

Rising demand for lightweight materials for car and aerospace segments and heightening interest for wind energy is expected to drive the global composites market for the forecast period. With the developing requirement for lightweight and high quality material in automotive, aviation, and wind power applications; interest for carbon fibre is always expanding. This is because of the restrictive properties of carbon fibre, for example, high rigidity, solidness, and temperature resilience and low warm extension and weight. Notwithstanding, the costly idea of carbon fibre is limiting its utilization in numerous applications. Carbon fibre composites as of now cost about four times the cost of steel. Accordingly, decreasing the cost of carbon filaments is probably going to offer lucrative open doors for composite makers. Fantastic damping properties, high quality and unbending nature, bring down thickness, and so on are required to encourage the global composite material market over the forecast period.

The global composite material market can be segmented on the basis of resin type, fibre type, manufacturing process and geography. On the basis of resin type, the global composite material market can be segmented into thermoplastic composites and thermosetting composites. On the basis of fibre type, the global composite material market can be segmented into carbon fibre composites, glass fibre composites and others. On the basis of manufacturing process, the global composite material market can be segmented into injection moulding process, compression moulding process, resin transfer moulding process, pultrusion process, layup process, filament winding process and others. On the basis of geography, the global composite material market can be segmented into North America, Asia-Pacific, Europe and Rest of the World.

Some of the key players operating in the global composite material market, DowAksa Advanced Composites Holdings B.V., , Cytec Industries Inc. Hexcel Corporation, Jiangsu Hengshen Fibre Material Co., Ltd., Formosa Plastics Corporation, Mitsubishi Rayon Co., Ltd, SGL Carbon SE, Teijin Limited, Toray Industries, Inc. and Zhongfu Shenying Carbon Fiber Co., Ltd. among others.

The global composite material market can be segmented

By Resin Type
• Thermoplastic composites
• Thermosetting composites

By Fibre Type
• Carbon fiber composites
• Glass fiber composites
• Others

By Manufacturing Process
• Molding process
• Compression molding process
• Resin transfer molding process
• Pultrusion process
• Layup process
• Filament winding process
• Others

By Region
• North America
• Asia-pacific
• Europe
Rest of the world

The Leading Key Players in Composite Material Market

DowAksa Advanced Composites Holdings B.V.
Cytec Industries Inc.
Hexcel Corporation
Jiangsu Hengshen Fibre Material Co. Ltd.
Formosa Plastics Corporation
Mitsubishi Rayon Co.
SGL Carbon SE
Teijin Limited
Toray Industries Inc.
Zhongfu Shenying Carbon Fiber Co.