- Report ID: BMRC 774 | Number of pages: 200 | Publish Date: Feb 2020
Status: Published | Category: Chemical And Materials | Delivery Timeline:
Composite Materials Market applies the most effective of each primary and secondary analysis to weighs upon the competitive landscape and also the outstanding market players expected to dominate Composite Materials Market place for the forecast 2020– 2025.
Increasing automotive sectors also power the global market due to automotive interiors such as door panel, seat covers, dashboard, steering wheel, and so on created from composite material.
The composite material is also dubbed as composition substance. It has one or more constituent substances with different physical or chemical features. They mix together to create different substances with different characteristics from separate elements. This new substance formed is cost effective, lighter, and stronger and is distinct in characteristic as compared to normal materials. Lately, researchers actively added sensing, computation, actuation, and communication in this material, which is dubbed as Robotic Materials.
The global composite materials market is divided by application as exterior, powertrain, interior, structural, and others. The composite materials market is further divided by composite materials as ceramic matrix composite (CMC), glass fiber reinforced plastic (GFRP), metal matrix composite (MMC), polymer matrix composite (PMC), natural fiber reinforced plastic (NFRP), and carbon fiber reinforced plastic (CFRP). Of these, natural fiber reinforced plastic (NFRP) is the leading composite materials section in the global composite materials market.
Glass fiber composites, in terms of volume and value, ruled the global composites market. The glass fibers are high in requirement as they are affordable and have superior mechanical & physical properties such as durability, strength, stability, flexibility, and lightweight. The glass fiber composites are mostly employed in pipes & tanks, wind energy, construction & infrastructure, and electrical & electronics segments.
Thermoset composites are low on maintenance and durable. Thermoset resins have high performance features and are also low in cost; thereby are in high demand. Thermoset composites are widely used in the aerospace & defense, transportation, electricals & electronics, marine, and wind energy end-use sectors. The development of these sections is predicted to power market growth.
The strength-to-weight ratio of most composites is more as compared to aluminum and steel. The drop in weight for a specific level of strength makes the employment of composites essential in the transportation sector. Environmental laws related to emission standards, particularly in Europe, North America, and China, are the major powering factors behind the launch of more fuel-efficient and lightweight composites in transportation.
The major players included in the global composite materials market forecast are,
By Fiber Type: Glass Fiber Composites, Carbon Fiber Composites, Natural Fiber Composites, Other Fiber Composites
By Resin Type: Thermoset Composites, Thermoplastic Composites
By Manufacturing Process: Lay-up, Filament Winding, Injection Molding, Pultrusion, Compression Molding, RTM, Others
By end-use industry: Aerospace & defense, Wind Energy, Transportation, Construction & Infrastructure, Marine, Pipe & Tank, Electrical & Electronics, Others
Increasing Requirement For Fuel-Efficient Vehicles Will Boost The Global Composite Materials Market In The Coming Future
Increasing requirement for fuel-efficient vehicles and government support for fuel-efficiency will boost the global composite materials market in the coming future. Major OEMs (original equipment manufacturers) are getting associated with composite material makers. This is predicted to power the global market growth. Increasing automotive sectors also power the global market due to automotive interiors such as door panel, seat covers, dashboard, steering wheel, and so on created from composite material. Composite materials are adopted by many automotive sectors for security standards and are predicted to show significant development in the market in future. Natural fiber-reinforced plastic composite is preferred majorly for automotive interiors owing to different applications such as seat trims, flooring, gear knobs, and others. However, CFRP (carbon fiber-reinforced plastic) is used prominently in the luxury and sports vehicles for automotive dashboards and interiors. It has high strength-to-weight ratio and appearance; this is predicted to power market growth.
Market by Regional Analysis
North America (USA, Canada, Mexico), Europe (UK, France, Germany, Russia, Rest of Europe), Asia-Pacific (China, South Korea, India, Japan, Rest of Asia-Pacific), LAMEA, Latin America, Middle East, Africa
North America Is The Top Player In The Global Composite Materials Market
North America is the top player in the global composite materials market. This area is predicted to develop at a quicker rate owing to rising production of automotive. The automotive sector is increasing majorly for light cars in this area.
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Composite Materials Market 2020 By Fiber Type ( Glass Fiber Composites, Carbon Fiber Composites, Natural Fiber Composites), By Resin Type (Thermoset Composites, Thermoplastic Composites), By Manufacturing Process (Lay-up, Filament Winding, Injection Molding, Pultrusion, Compression Molding, RTM) Forecast to 2025