IMARC Group, a leading market research company, has recently releases report titled “Epoxy Composite Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028. The report offers a comprehensive analysis of the industry, which comprises insights on the global epoxy composite market forecast. The global epoxy composite market size reached US$ 32.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 46.4 Billion by 2028, exhibiting a growth rate (CAGR) of 6% during 2023-2028.
Epoxy composite represents a type of material used for creating a polymer matrix that is generally reinforced with fibers or other fillers to manufacture durable components with high strength-to-weight ratios. Some of the commonly utilized methods for producing this material are hand layup, compression, filament winding, injection resin and resin molding processes, etc. As compared to conventional construction materials, including metal and concrete, epoxy composite is more lightweight, flexible, and cost-effective and exhibits excellent adhesion and superior ultraviolet (UV) radiation, chemical, and heat resistance properties. Presently, it is widely available in glass and carbon fiber types.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/epoxy-composite-market/requestsample
Epoxy Composite Market Trends and Drivers:
The escalating demand for this material in load-bearing applications, such as automotive, aerospace, oil and gas, and construction sectors, on account of its improved mechanical properties, high adhesiveness, heat and solvent resistance, low costs, etc., is primarily augmenting the epoxy composite market. Furthermore, it is also combined with carbon and glass fiber to manufacture wind blades, owing to its numerous beneficial properties, including being lightweight, exhibiting resistance to fatigue, offering a lack of shrinkage after cooling, etc., which is bolstering the market growth. Apart from this, the rising utilization of epoxy composites in the wind energy sector for producing and coating components is acting as another significant growth-inducing factor. Moreover, several technological advancements and the introduction of effective and affordable production solutions for manufacturing this material in bulk are further positively influencing the global market. Besides this, extensive investments in R&D activities by key market players for developing versatile materials that can be used as a main component to construct air and watercraft are expected to fuel the epoxy composite market in the coming years.
Competitive Landscape with Key Player:
- Arkema S.A
- Avient Corporation
- Axiom Materials Inc.
- Gurit, Hexcel Corporation
- Huntsman Corporation LLC
- Mitsubishi Chemical Holdings Corporation
- SGL Carbon SE
- Solvay S.A
- Teijin Limited
- Toray Industries Inc.
Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Fiber Type:
- Glass Fiber
- Carbon Fiber
- Others
Breakup by Manufacturing Process:
- Lay-up
- Compression Moulding
- Resin Injection
- Resin Transfer Moulding
- Filament Winding
- Pultrusion
Breakup by End User:
- Aerospace and Defense
- Automotive
- Electrical and Electronics
- Wind Energy
- Sporting Goods
- Marine
- Piping
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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