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A composite material is majorly a combination of two materials with different chemical and physical properties. When they are combined they create a material with specialized properties, for instance to become lighter, stronger, or resistant to electricity. According to Researcher, the global Composite Material market is expected to witness significant growth rate during the forecast period. The market for composite material is being driven by the demand for lightweight automotive and emerging use and popularity of 3D printing among various end-users. However, high cost of raw material and their products is likely to hinder the growth of the composite material market.
Asia-Pacific region is expected to be the largest market for global composite material due to its high consumption from the region's end-user industries and rapid industrialization. Beside this, huge inflow of investments in the construction sector of countries, such as China, India, Vietnam, Singapore, and Japan has positively impacted the growth of the studied market.
Carbon fibers also referred as graphite fibers mainly based on three chemical sources polyacrylonitrile, rayon, and petroleum pitch is likely to drive the market. CF weighs about one-fifth as much as steel and is better in terms of stiffness and strength. According to the Oak Ridge National Laboratory, they also do not rust or corrode like steel or aluminum, and they could significantly increase vehicle fuel economy by reducing vehicle weight by as much as 60 percent hence experiencing increased demand from automotive industries. Further, roughly 25% of wind turbines are now manufactured with carbon fiber spar caps to provide lighter weight the massive structures without Performance sacrifices.
The global market for composite material is moderately fragmented with major players, including TORAY INDUSTRIES, INC., 3M, Cabot Corporation, Dupont, and Owens Corning, among others.
In June 2018, Airborne Oil & Gas (AOG, IJmuiden, The Netherlands) began a qualification program of a thermoplastic composite pipe (TCP) riser that aims to provide a disruptive new riser pipe technology for operators, with international deep water applications
GlobalComposite Material Market report provides deep insight into the current and future Composite Material market state across various regions. The study comprehensively analyzes the Composite Material market by segmenting based on Resin (Thermoset Resin, Thermoplastic Resin), By Fiber Type (Glass Fiber, Carbon Fiber, Aramid Fiber, and Others), By Process (Continuous Lamination, Direct LFT Compression & Injection, Filament Winding, Hand Lay-Up, Pultrusion, Resin Infusion, Sheet Molding Compound (SMC), Spray-Up, and Others), By End-Use (Building & Construction, Consumer Goods Electrical and Electronics, Energy Generation, Industrial & Infrastructure, Transportation, Aerospace & Defense, and Others), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report examines the market drivers and restraints, along with the impact of Covid-19 on the market growth in detail. The study covers & includes emerging market trends, developments, opportunities, and challenges in the industry. This report also covers extensively researched competitive landscape section with profiles of major companies, including their market shares and projects.
Asia-Pacific region is expected to be the largest market for global composite material due to its high consumption from the region's end-user industries and rapid industrialization. Beside this, huge inflow of investments in the construction sector of countries, such as China, India, Vietnam, Singapore, and Japan has positively impacted the growth of the studied market.
Carbon fibers also referred as graphite fibers mainly based on three chemical sources polyacrylonitrile, rayon, and petroleum pitch is likely to drive the market. CF weighs about one-fifth as much as steel and is better in terms of stiffness and strength. According to the Oak Ridge National Laboratory, they also do not rust or corrode like steel or aluminum, and they could significantly increase vehicle fuel economy by reducing vehicle weight by as much as 60 percent hence experiencing increased demand from automotive industries. Further, roughly 25% of wind turbines are now manufactured with carbon fiber spar caps to provide lighter weight the massive structures without Performance sacrifices.
The global market for composite material is moderately fragmented with major players, including TORAY INDUSTRIES, INC., 3M, Cabot Corporation, Dupont, and Owens Corning, among others.
In June 2018, Airborne Oil & Gas (AOG, IJmuiden, The Netherlands) began a qualification program of a thermoplastic composite pipe (TCP) riser that aims to provide a disruptive new riser pipe technology for operators, with international deep water applications
GlobalComposite Material Market report provides deep insight into the current and future Composite Material market state across various regions. The study comprehensively analyzes the Composite Material market by segmenting based on Resin (Thermoset Resin, Thermoplastic Resin), By Fiber Type (Glass Fiber, Carbon Fiber, Aramid Fiber, and Others), By Process (Continuous Lamination, Direct LFT Compression & Injection, Filament Winding, Hand Lay-Up, Pultrusion, Resin Infusion, Sheet Molding Compound (SMC), Spray-Up, and Others), By End-Use (Building & Construction, Consumer Goods Electrical and Electronics, Energy Generation, Industrial & Infrastructure, Transportation, Aerospace & Defense, and Others), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report examines the market drivers and restraints, along with the impact of Covid-19 on the market growth in detail. The study covers & includes emerging market trends, developments, opportunities, and challenges in the industry. This report also covers extensively researched competitive landscape section with profiles of major companies, including their market shares and projects.
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This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
- By End User/Applications
- By Technology
- By Region
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
