“The epoxy composite market is projected to grow at a CAGR of 7.34% during the forecast period”
The epoxy composite market is projected to reach USD 33.06 billion by 2021, at a CAGR of 7.34% between 2016 and 2021. The key factor expected to drive the growth of the market is the increasing use of epoxy composite in the wind energy industry. In addition, the increasing demand for materials with superior properties, such as lightweight, high strength, and durability is expected to boost the demand for epoxy composite in the automotive & transportation, aerospace & defense, and construction industries. However, high volatility in the raw material prices and issues related to recyclability can restrain the growth of the market.
“Wind energy is expected to be the fastest-growing end-user industry segment of the epoxy composite market, in terms of value and volume.”
The wind energy industry segment led the epoxy composite market, by value and volume. The superior properties exhibited by epoxy composites are expected to drive the growth of the market in the wind energy industry. Epoxy composites enhance strength & rigidity and reduce the weight of wind blades. These composites provide great strength-to-weight capability compared to other traditional materials, and hence, facilitate more efficient designs and better fabrication. The composites are mostly used in wind blades, nacelles, and spar caps.
“Asia-Pacific is expected to be the fastest-growing market for epoxy composite”
Asia-Pacific is expected to be the fastest-growing market for epoxy composite during the forecast period. The key factors expected to fuel the growth of the market in the region are contribute to this growth are the increasing demand from the wind energy, automotive & transportation, sporting goods, aerospace & defense, and construction industries and increasing urbanization and industrialization in the region. Lightweight, easy to construct, corrosion resistance, and high mechanical strength are some of the properties, which are projected to drive the demand for epoxy composites in Asia-Pacific.
This study has been validated through primaries conducted with various industry experts, globally. These primary sources have been divided into the following three categories:
• By company type- Tier 1- 35%, Tier 2- 25%, and Tier 3- 40%
• By designation- C Level- 30%, Director Level- 25%, and Others- 45%
• By region- North America- 30%, Europe- 25%, Asia-Pacific- 30%, Middle East & Africa-10%, and Latin America-5%,
The report provides a comprehensive analysis of company profiles listed below:
• Cytec Solvay Group (Belgium)
• Royal TenCate N.V. (Netherlands)
• Teijin Limited (Japan)
• Toray Industries, INC. (Japan)
• Hexcel Corporation (U.S.)
• SGL Group (Germany)
• Gurit Holdings AG (Switzerland)
• Park Electrochemical Corporation (U.S.)
• Mitsubishi Rayon Co. Ltd. (Japan)
• Axiom Materials (California, U.S.)
• Kemrock Industries and Exports Limited (India)
• Sumitomo Bakelite Co. Ltd. (Japan)
• Myko Engineering (Israel)
• Rotec Composite Group B.V. (Netherlands)
• Barrday (Canada)
• Gordon Composites, Inc. (U.S.)
• Hindoostan Composite Solutions (India)
• ATL Composites (Australia)
• IDI Composites (U.S.)
• Isosport (Germany)
This report covers the global epoxy composite market and forecasts the market size until 2021. The report includes the market segmentation by fiber type (glass, carbon, and others), end-use industry (wind energy, aerospace & defense, sporting goods, automotive & transportation, electrical & electronics, pipe & tank, marine, and others), manufacturing process (lay-up, compression molding, resin injection, resin transfer molding, filament winding, pultrusion), and region (North America, Europe, Asia-Pacific, Latin America, and ME&A). Porter’s five forces analysis along with the drivers, restraints, opportunities, and challenges have been discussed in the report. It also provides company profiles and competitive strategies adopted by the major market players in the epoxy composite market.
Reasons to buy the report:
The report will help market leaders/new entrants in this market in the following ways:
1. This report segments the epoxy composite market comprehensively and provides the closest approximations of the revenues for the overall market and the subsegments across different verticals and regions.
2. The report helps stakeholders understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to better understand competitors and gain more insights to better their positions in their businesses. The competitive landscape section includes the competitor ecosystem, and key developments, such as new product launches, agreements, expansions, and acquisitions adopted by market players to achieve growth in the market.