Epoxy Composite Market by Fiber Type (Glass, Carbon, and Others) and End-Use Industry (Aerospace & Defense, Automotive, Electrical & Electronics, Wind Energy, Sporting Goods, Marine, Piping, and Others): Global Opportunity Analysis and Industry Forecast 2020–2027
New York, Sept. 03, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Epoxy Composite Market by Fiber Type and End-Use Industry : Global Opportunity Analysis and Industry Forecast 2020–2027" - https://www.reportlinker.com/p05955122/?utm_source=GNW
The global epoxy composite market size was valued at $16.4 billion in 2019, and is projected to reach $24.2 billion by 2027, growing at a CAGR of 5.1% from 2020 to 2027.
Epoxy is a common resin used to create composite materials in thermosets. Epoxy resins are used in a wide variety of components, structures, and concrete repair composites. Major advantages of using epoxy include the ability to adapt to various products, their low shrinkage, good mechanical properties, and resistance to corrosive liquids and environments. In addition, superior electrical properties, high efficiency at elevated temperatures, and reasonable adhesion to substrates are some of the other benefits of using epoxy.
Rise in demand for lightweight materials in the automotive and aviation industries is expected to drive the global demand for epoxy composites due to its low weight-to-strength ratio. In addition, increase in demand for composite materials in pipes & tanks and oil & gas applications is expected to fuel the global market for epoxy composites during the forecast period. Furthermore, epoxy composites are also commonly used in wind turbines. Their superior material properties such as durability and excellent mechanical strength along with weight lightening significantly boost the efficiency of wind turbine. Therefore, growth in the wind energy industry is projected to boost global demand for epoxy composites. However, high volatility in the prices of raw materials and recyclability issues are anticipated to restrain the growth of the global epoxy composite market.
The global epoxy composite market is segmented on the basis of fiber type, end-use industry, and region. By fiber type, the market is classified into glass, carbon, and others (natural fiber and aramid fiber). According to end-use industry, it is divided into aerospace & defense, automotive, electrical & electronics, wind energy, sporting goods, marine, piping, and others. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some of the key players operating in the global epoxy composite market are Barrday Inc., Bhor Chemicals and Plastics Private Limited, Cytec Solvay Group, Hexcel Corporation, Mitsubishi Chemical Corporation, Park Aerospace Corp., Sabanc? Holding, SGL Carbon SE, Teijin Limited, and Toray Industries Inc.
KEY BENEFITS FOR STAKEHOLDERS
- The report provides an extensive qualitative and quantitative analysis of the current trends and future estimations of the global epoxy composite from 2019 to 2027 to determine the prevailing opportunities.
- A comprehensive analysis of the factors that drive and restrict the growth of the market is provided.
- Estimations and forecast are based on factors impacting the market growth, in terms of both value and volume.
- Profiles of leading players operating in the market are provided to understand the global competitive scenario.
- The report provides extensive qualitative insights on the significant segments and regions exhibiting favorable market growth.
KEY MARKET SEGMENTS
• By Fiber Type
• Natural Fiber
• Aramid Fiber
• By End-Use Industry
- Aerospace & Defense
- Electrical & Electronics
- Wind Energy
- Sporting Goods
• By Region
o North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Rest of LAMEA
KEY MARKET PLAYERS
• Barrday Inc.
• Bhor Chemicals And Plastics Private Limited
• Cytec Solvay Group
• Hexcel Corporation
• Mitsubishi Chemical Corporation
• Park Aerospace Corp.
• Sabanc? Holding
• SGL Carbon SE
• Teijin Limited
• Toray Industries Inc.
Read the full report: https://www.reportlinker.com/p05955122/?utm_source=GNW
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