About Fiber Reinforced Composite
Fiber-reinforced composites are a composite material made of a polymer matrix. It comprises of dispersed part, interphase region, and matrix. Various factors such as developing economies, growing industrialization, increasing construction activities, and technological innovations in fiber-reinforced composites driving the market demand. Further, growing demand from the developing economies expected to drive the demand for fiber-reinforced composites over the forecasted period.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The global fiber-reinforced composites market is highly fragmented in nature owing to the presence of a large number of market players across the globe. Various market strategies including partnership, collaborations, expansions and setting up of new facilities are expected to be used by these market players in order to increase their market share and strengthen market position in the global market over the forecast period. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Fiber Reinforced Composite 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.
Toray Industries Inc. (Japan), Quantum Composites (United States), Hexcel Corporation (United States), AGY Holding Corporation (United States), PPG Industries Incorporated (United States), Citadel Plastics Holdings Incorporated, Ferro Corporation (United States), Solvay S.A. (Belgium) and Hadlock Plastics (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 Interplastic Corporation (United States), PolyOne Corporation (United States) and TPI Composites Incorporated (United States).
Segmentation Overview
AMA Research has segmented the market of Global Fiber Reinforced Composite market by Type (Thermoset (Polyester, Epoxy) and Thermoplastic Composites (Nylon, Thermoplastic Polyester, Polypropylene, Styrene, Polycarbonate)) and Region.
On the basis of geography, the market of Fiber Reinforced Composite 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 Fiber, the sub-segment i.e. Glass Fibers will boost the Fiber Reinforced Composite market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Automotive Industry will boost the Fiber Reinforced Composite market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Advancement in Lightweight Fiber Reinforced Composite
Market Growth Drivers:
Increasing Demand for Lightweight and Fuel-Efficient Vehicles and Rising Demand of High Strength and Lightweight Material in the Aerospace Industry
Challenges:
Lack of Awareness in the Emerging Economies
Restraints:
High Cost of Fiber Reinforced Composite
Opportunities:
Increasing Demand from Construction and Automotive Industry and Growing Demand from the Developing Economies
Market Leaders and their expansionary development strategies
In February 2023, ALUM BANK, Pennsylvania Creative Composites Group (CCG), the leading manufacturer of Fiber Reinforced Polymer (FRP) composites, announced that the group acquired Enduro Composites, a leading manufacturer of FRP products since 1954 based in Houston, Texas.
In October 2023, Evonik, Lehvoss has developed a PA613 with compounded carbon fiber reinforcement, Luvosint PA613 9711 CF. The base polymer PA613 was designed by Evonik specifically for laser sintering. It is characterized by low moisture absorption, high temperature stability and unlike PA6 high process stability in laser sintering. The fiber reinforcement consists of high-strength XCF fibers, which have previously been used in Luvocom XCF products for injection molding.
Key Target Audience
Fiber Reinforced Composite Providers, Traders and Distributors, Research and Development Institutes, Potential Investors, Raw Material Suppliers, Nationalized Laboratory 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.