Industry Background:
Closed Molding is a technology that allows the manufacturing of better polymer composite parts in less time, with less waste, and largely reduced emissions. The cold mold processes like Light Resin Transfer Molding (LRTM), Reusable Bag Molding (RSBM), and Vacuum Infusion Process (VIP) are very popular to create precision parts. In today’s time, composites manufacturers are shifting from open molding to closed molding as it offers lower cost and can be used in a variety of applications. In the cold molding process, raw materials of fibers or resins cure inside a two-sided mold or within a vacuum bag that is devoid of air.This growth is primarily driven by Increased Use of Closed Molding Process to Manufacture Parts Faster and Low Cost and Rapid Growth of Transportation and Aviation Industries Across the Globe.
Globally, a noticeable market trend is evident Growing Adoption of Renewable Energy and Need for Lightweight Blades. Major Vendors, such as Exel Composites (Finland), Saertex (Germany), Polynt Spa (Italy), Menzolit GmbH (Germany), Core Molding Technologies (United States), Strongwell Corporation (United States), Continental Structural Plastics (United States), Kineco Limited (India) and Cavallero Plastics Inc. (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In March 2021, Composites One acquired the Process Materials business from the Solvay Composites Materials Global Business. The acquisition offers a unique opportunity for Composites One to add international manufacturing and sales capabilities in specialized materials used in a variety of vacuum-assisted composite manufacturing processes. Further, the acquired business has been rebranded as Aerovac and is a major manufacturer, developer, and supplier of process materials, tooling, and services.
In February 2021, Teijin Limited announced the installation of a composite compression molding line at Benet Automotive s.r.o, Czech Republic. The company will invest in the new glass fiber sheet molding compound (GF-SMC) line to meet strong demand for Teijin’s industry-leading composite formulations in Europe. However, the new line will strengthen Teijin’s response to market demands for greater design freedom, productivity, and cost-efficiency as well as weight reduction and strength.
Market Drivers
- Increased Use of Closed Molding Process to Manufacture Parts Faster and Low Cost
- Rapid Growth of Transportation and Aviation Industries Across the Globe
Market Trend
- Growing Adoption of Renewable Energy and Need for Lightweight Blades
Restraints
- High Cost of Capital Investment May Restraint the Growth
Opportunities
Growing Acceptance of Closed Mold Processing in Marine Industry with Materials Including Carbon Fiber and Epoxy Resins
Challenges
Slow Adoption of Carbon Fiber Compared to Glass Fiber
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Closed Molding Composites Study Sheds Light on
The Closed Molding Composites Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Closed Molding Composites industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Closed Molding Composites industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.