About Epoxy Composites
Epoxies composite are best known for their excellent adhesion, UV, chemical, and heat resistance, good mechanical properties, and outstanding electrical insulating properties. It is formed into two types i.e. glass-epoxy composite and carbon epoxy composite. Among these types of epoxy composites, glass fiber-based epoxy composite is considered to be the best reinforcement because of its excellent mechanical, electrical, and thermal features. Epoxy-based composites are extensively been used in making automobile components including radiator supports, bumper beams, fenders, hoods, roof panels, deck lids, and a number of other exterior and interior body components. Carbon fiber-epoxy composite materials have been used in advanced engineering structures such as spacecraft, aircraft, automobile transmission shafts, and robot structures because of their high specific stiffness and high specific strength. Increasing demand for automotive, transportation and aerospace & defense is likely to drive the epoxy composite market growth.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 7.2% |
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Epoxy Composites market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Axiom Materials, Inc. (United States), Koninklijke Ten Cate N.V (Netherlands), Teijin Limited (Japan), Hexcel Corporation (United States), Cytec Solvay Group (Belgium), Toray Industries, Inc. (Japan), Mitsubishi Rayon Co. Ltd. (Japan), SGL Group (Germany), Rotec Composite Group B.V. (Netherlands) and Gordon Composites, Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Gurit Holding AG (Switzerland), Park Electrochemical Corporation (United States), Holding company "Composite" (Russia), Kemrock Industries and Exports Limited (India), Sumitomo Bakelite Co., Ltd. (Japan) and Myko Engineering (Israel).
Segmentation Overview
AMA Research has segmented the market of Global Epoxy Composites market by Type (Glass Fiber, Carbon Fiber and Others (Natural Fiber, Aramid Fiber)) and Region.
On the basis of geography, the market of Epoxy 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). If we see Market by Industry Verticals, the sub-segment i.e. Automotive & Transportation will boost the Epoxy Composites market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Manufacturing Process, the sub-segment i.e. Compression Moulding will boost the Epoxy Composites market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Resin Type, the sub-segment i.e. Epoxy Resin will boost the Epoxy Composites market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Utilization of Epoxy Based Hybrid Polymer Composites and Nanocomposites in Electrical and Electronic Components, Automotive and Military Applications
Market Growth Drivers:
Increasing Demand for Lightweight Materials in Aviation and Automotive Industries Owing To Low Weight-To-Strength Ratio, Need For Material with High Mechanical Strength, Lightweight, and Resistance against Corrosion and Increasing Demand for Epoxy Composite from Wind Energy Industry
Challenges:
High Cost of Raw Material and Research & Development Activities and Reduce Cycle Time of Epoxy Composite Part Manufacturing
Restraints:
High Cost of Production and Stringent Government Regulations in Europe
Opportunities:
Adoption of Low-Cost Production Technologies and Growing End-User Industry such as Automotive and Wind in Emerging Countries
Market Leaders and their expansionary development strategies
In January 2020, Woodward and Hexcel Announce Merger of Equals to Create a Premier Integrated Systems Provider Propelling the Future of Flight and Energy Efficiency.
In May 2022, Hexcel has developed a new product range that combines Hexcel resin systems made with bio-derived resin content with natural fiber reinforcements to create material solutions for Automotive, Winter Sports, Marine and Wind Energy applications.
Key Target Audience
Epoxy Composite Manufacturers, Raw Material Suppliers, Traders/Exporters/Importers, Distributors, and Suppliers, End-use Industries and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.