Epoxy Composite Market Segment Analysis, Opportunity Assessment, Competitive Intelligence, Industry Outlook 2016-2026
Epoxy is a thermosetting resin usually used to make composite materials. Epoxy resins are employed in a wide variety of concrete fittings, structures, and repairs. Epoxy is a well-known thermosetting resin used in various composite fittings as well as concrete structures and repairs due to its corrosion resistance, superior electromechanical properties, and lower shrinkage.
The key
factor propelling the growth of the market is the rising demand for epoxy
composite from the wind energy industry. Moreover, the increasing demand from
developing countries is expected to foster the demand for Epoxy Composites. The
necessity for material with high mechanical strength, resistance against
corrosion, and lightweight is also the key factor fuelling the demand for the Epoxy
Composite market. However, factors such as the growing awareness about
alternative resins, issues related to mouldability and recyclability, and high
volatility in raw material prices are hampering the epoxy composite
market growth. Furthermore, the adoption of low-cost production
technologies and the growing wind energy industry in developing economies offer
a lucrative opportunity.
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By
Fiber type
- Glass
- Carbon
- Others
By
Manufacturing process
- Lay-up
- Compression Moulding
- Resin Injection
- Resin Transfer Moulding
- Filament Winding
- Pultrusion
By
End-use Industry
- Wind Energy
- Aerospace & Defense
- Sporting Goods
- Automotive & Transportation
- Electrical & Electronics
- Pipe & Tank
- Marine
- Others
By
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
The
unique insights provided by this report also includes the following:
- In-depth value chain analysis
- Opportunity mapping
- Sector snapshot
- Key Players Positioning Matrix
- Regulatory scenario
- Strategies Adopted-Benchmarking Heat
Map
- Market trends
- Covid-19 impact analysis
- Product comparison
- Pre & Post COVID 19 impact on
Epoxy Composite Market
- Competitive Landscape
Based
on Fiber type, glass type segment is growing with a highest CAGR during the
forecast period
The
glass fiber segment dominates the market and accounts for 60.3% of global sales
in 2020. This segment is expected to maintain its leadership position owing to
characteristics such as low weight, production adaptability, high strength,
high strength, and high resistance to other metals.
Based
on manufacturing process, Compression Moulding process is growing with the
fastest rate in the global Epoxy Composite market in the year 2020
The
compression Moulding process segment holds a significant share of the Epoxy
Composite market. Wet compression molding, also known as liquid compression
molding (LCM), is a compound molding process in which plastic is coated on top
of a blank canvas. The wet drum is then transferred to the lower tool in a
suitable set of molds and molded in a press to push the plastic into the
fabric, mainly in the z-direction.
Based
on End-use Industry, Automotive & Transportation segment is growing with a
highest CAGR during the forecast period
The
automotive and transportation end-use vehicles segment dominates the market and
accounts for 25.6% of the global market share in 2019. This segment is expected
to maintain its leading position during the forecast period. This is attributed
to the expanding automotive and transportation sectors driven by growing
commercial and domestic markets, especially in North America and Asia-Pacific.
On the basis of end-use, the market is primarily categorized into Aerospace
& Defense, Wind Power, Power & Electronics, Automotive &
Transportation, Sports, and Consumer Goods. Epoxy composites are expected to
experience high demand in the aforementioned end-use segments due to their
high-end material properties including superior strength and mechanical
strength.
Based
on Regions, the Asia Pacific region is expected to grow with the highest CAGR
global market during the forecast period.
Asia-Pacific
accounted for the largest share of the market and held about 35% of the global
revenue market in 2020 and is expected to maintain its dominance in coming
years. The booming wind power sector in economies, such as India and China, is
expected to drive demand for epoxy composites in the region. North America
captured significant revenue share and is expected to increase at a substantial
CAGR during the forecast period. The increasing demand for lightweight materials
primarily in fuel-efficient automotive designs, due to the implementation of
strict environmental regulations, is expected to drive market growth.
Company
Profiles and Competitive Intelligence:
The
major players operating in the global epoxy composite market includes Hexcel
Corporation, Polyone Corporation, Teijin Limited, Arkema, SGL Carbon, Toray
Industries, Inc., Huntsman Corporation LLC, ATL Composites, Royal Tencate N.V.,
Kemrock Industries and Exports Limited, Cytec Solvay Group, Hindoostan Composite
Solutions, Sumitomo Bakelite Co., Ltd., Rotec Composite Group B.V., Barrday,
Myko Engineering, Gordon Composites, Inc., Park Electrochemical Corporation,
IDI Composites, Isosport, Quantum Composites, among others.
The
report also provides in-depth analysis of market dynamics such as drivers,
restraints opportunities and challenges
Drivers:
- Increasing Demand for Epoxy
Composite from Wind Energy Industry
- Emerging Demand from Developing
Countries
- Need for Material with High
Mechanical Strength, Lightweight, and Resistance Against Corrosion
Restraints:
- Increasing Popularity of Alternative
Resins
- Issues Related to Remould ability
and Recyclability
- High Volatility in Raw Material
Prices
Opportunities:
- Growing Wind Energy Industry in
Developing Economies
- Adoption of Low-Cost Production
Technologies
The
report also provides an in-depth analysis of key market trends:
Sr.
No. |
Trends |
Impact |
1 |
Rising
demand from the aviation and automotive industries across the world for
lightweight materials is anticipated to accelerate the market growth. |
Positive |
2 |
Growing
demand for wind energy, along with the huge demand for epoxy composites from
the U.S. automotive sector is predicted to propel the market growth. |
Positive |
The
report also provides an in-depth analysis of recent News Developments and
Investments
- In June 2021, Hexcel promoted a
range of innovative composite for various applications in aerospace, wind
energy, automotive, marine, and recreation industry at JEC Composites
Connect, a digital event for 2 days, for networking and learning about the
composites industry market and trends.
- In May 2021, Solvay launched
non-fluor surfactant technologies – Tecnoflon LX and Hylar 5000S. Solvay
now not uses fluor surfactant process aids in the U.S.
- In April 2021, Solvay introduced
Amodel Supreme PPA, a high-performance polyphthalamide (PPA) designed for
demanding metal replacement applications and e-mobility.
Company
Profiles and Competitive Intelligence
The key
players operating in the market are:
- Hexcel Corporation
- Cytec Solvay Group
- Polyone Corporation
- Hindoostan Composite Solutions
- Teijin Limited
- Park Electrochemical Corporation
- Arkema
- SGL Carbon
- Toray Industries, Inc.
- Huntsman Corporation LLC
- Royal Tencate N.V.
- Teijin Limited
- Toray Industries Inc.
- Gurit Holding AG
- Axiom Materials
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