What is Polymer Matrix Composites Market?
Polymer matrix composite is a composite material composed of a variety of short or continuous fibers bound together by an organic polymer matrix. It is designed to transfer loads between fibers through the matrix. It is very popular due to their low cost and simple fabrication methods. It has high stiffness, lightweight and high strength. It is used for manufacturing secondary load-bearing aerospace structures, boat bodies, canoes, kayaks, automotive parts, radio-controlled vehicles and many others.
The market study is being classified by Type (Reinforced Plastics and Advanced Composites), by Application (Aerospace Industry, Sporting Equipment Industry, Automotive Industry, Defense Industry, Construction Industry, Shipbuilding Industry and Others) and major geographies with country level break-up.
Toray Industries (Japan), Owens Corning (United States), Teijin Limited (Japan), Hexcel Corporation (United States), TPI Composites Inc. (United States), Faurecia (France), Performance Composites Inc. (United States), Enduro Composites, Inc. (United States), Kineco (India) and Applied Poleramic. Inc. (United States) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Hexagon Composites ASA (Norway), Creative Composites Ltd. (United Kingdom) and HITCO Carbon Composites Inc. (United States).
Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Polymer Matrix Composites market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Polymer Matrix Composites market by Type, Application and Region.
On the basis of geography, the market of Polymer Matrix Composites has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- High Tensile Strength, Stiffness and Fracture Toughness
- Relatively Low Cost and Competitive Physical and Mechanical Characteristics
Restraints
- Low Thermal Resistance and High Coefficient of Thermal Expansion
Opportunities
- Growing Demand from Automotive Industry
- High Demand from Various Industrial Applications Such As Aerospace Industry, Defense Industry and Others
Challenges
- Increasing Environmental Concerns and Pollution
Market Leaders and some development strategies
On 2nd September 2019, Teijin Limited announced that it has completed the acquisition of Benet Automotive s.r.o. (Benet), a leading automotive composite and component supplier in the Czech Republic, from Jet Investment.
Key Target Audience
Polymer Matrix Composites Manufacturers, Research Professionals, Emerging Companies, Raw Material Suppliers/ Buyers, Distributors, Government Body & Associations and End-user