Global Fiber Reinforced Composites Market was valued US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2026, at a 40 % CAGR of around during a forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
The market structure of fiber-reinforced composite has become competitive and is expected to become competitive in the forecast period due to medium-size players in the market. However, advancement in the construction industry has created to huge market for the fiber-reinforced composites. Apart from the construction industry, the aerospace & defense industry are attractive segments worldwide fueling the growth of the market. The report has studied and analyzed each market segment by region to make the analysis comprehensive to prepare the different strategies by application segments and regions.
Fiber-reinforced composites are becoming a substitute for various ferrous and nonferrous metals. Fiber-reinforced composites are a combination of plastic polymer resin and reinforcing fibers. Product reflects unique properties such as strength & stiffness of the raw materials used, resulting in an enhanced overall performance of the product.
High strength to weight ratio, corrosion resistance, energy absorption on impact, moisture and chemical resistance and electrical properties offered by composites are the key reason for their increased proclivity in the automotive segment hence driving the fiber-reinforced composites market.
Based on material used in the fiber-reinforced composites market is segmented into glass fiber reinforced composite, carbon fiber reinforced composite and aramid fiber-reinforced composite. Carbon fiber-reinforced composite also possesses mechanical properties such as low density, low strength, and modulus of elasticity than other fiber-reinforced composite composites. But also have some disadvantages such as high cost and conductivity, hence used in selective application. Glass over carbon fibers owes better conductivity. Glass material can be used where conductivity is the preference. Aramid denotes a considerable share of fiber demand, on account of their higher prices on a per pound basis.
The report covers the segments in the market by end-user sectors including automotive, building and construction, aerospace, electrical & Electronics and electrical, marine and sports and leisure. The use of fiber-reinforced composites is growing in construction and aerospace followed by automotive and construction segments. Fiber-reinforced market constitutes nearly one-third of demand will grow at XX% CAGR through the forecast period. Strong growth will be continued in residential building construction, growth for windows, doors and bathroom components such as bathtubs and showers. The automotive segment is the next largest market and is expected to grow at XX% in the forecast period.
North America constitutes the largest share for the fiber-reinforced composites market and will continue its emergence in the forecast period. Europe is experiencing steady growth while Latin America and the Middle East and Africa are noticing irregular growth patterns. Various factors like emerging economies, high industrialization, rising construction activities, technological innovations, and high investment initiatives are expected to boost regional fiber-reinforced composites market demand during the forecast period.
The objective of the report is to present a comprehensive analysis of the Global Fiber reinforced Composites Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Fiber reinforced Composites Market dynamics, structure by analyzing the market segments and project the Global Fiber reinforced Composites Market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Fiber reinforced Composites Market make the report investor’s guide.
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Scope of the Global Fiber-Reinforced Composites Market
Global Fiber-Reinforced Composites Market, By Material Type:
• Glass
• Carbon
• Aramid
Global Fiber-Reinforced Composites Market, By End-Use:
• Automotive
• Building and Construction
• Aerospace
• Electrical & Electronics and electrical
• Marine
• Sports and Leisure
Global Fiber-Reinforced Composites Market, By Region:
• Asia Pacific
• Europe
• North America
• Middle East & Africa
• Latin America
Key Players Analysed In Global Fiber-Reinforced Composites Market:
• BASF SE
• E. I. du Pont de Nemours and Company
• Hexcel Corporation
• Huntsman International LLC.
• Reliance Industries Limited
• Owens Corning
• Toray Industries Inc. TPI Composites Inc.
• Nippon Electric Glass Company Limited
• Kineco Kaman Composites-India Private Limited
• PLASAN CARBON COMPOSITES
• RTP Company
• Enduro Composites, Inc.
• COTESA GmbH
• HITCO Carbon Composites Inc.
• The Quadrant Group of Companies
• American Fiberglass Rebar
• American Grating, LLC
• Engineered Composites Ltd
• B&B FRP Manufacturing INC.
• TUF-BAR; FRP Composites Inc.
• Ten Cate NV
• Zoltek Companies, Inc.
• Hyosung Corporation
• Mitsubishi Rayon Co.Ltd.
• SGL Group
• DowAksa.
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