Continuous Fiber Composites Market Size Worth USD 3,315.0 Million by 2027 | Favorable Government Initiatives to Promote Product Demand and Growth of Automotive Sector are Factors Influencing the Industry Growth, says Emergen Research
Vancouver, British Columbia, April 15, 2021 (GLOBE NEWSWIRE) — The global continuous fiber composite market is projected to be worth USD 3,315.0 Million by 2027, according to a current analysis by Emergen Research. The continuous fiber composite market is observing rapid growth attributed to the growing demand from the energy sector, such as in wind turbines. Composites, including carbon fiber and fiberglass, find extensive usage as reinforcing materials in wind turbines production, owing to their high strength and rigidity properties, coupled with the benefits of lightweight and design flexibility. Continuous fiber composites are used in blade laminates, root joints, and reinforcements, as well as spacers, spar caps, and carrots. Moreover, composites deployed in access structures including platforms and ladders, along with cable management systems and generator as insulation solutions.
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Key Highlights From The Report
- In August 2019, Toray Advanced Composites entered into a production and distribution agreement with BASF centered on manufacturing continuous fiber-reinforced thermoplastic tapes for the industrial and automotive sectors.
- Thermoplastic continuous fiber composites possess the property of reform and reshape, along with low uptake of moisture and better damage resistance.
- Increasing expenses for the development of innovative products to improve the strength of sports goods such as golf clubs and hockey sticks by decreasing the total is estimated to fuel the demand for continuous fiber composite in the upcoming years.
- Europe held the second-largest continuous fiber composite market share in 2019, attributed to the growing demand from the aerospace and automotive industries. Moreover, increasing investment in developing lightweight products with improved strength and supportive government initiative in the region are driving the market growth.
- Key participants include Celanese Corporation, Gurit Holding AG, Hexcel Corporation, Chomorat, Johns Manville, Huntsman Corporation, Cytec Solvay Group, Automated Dynamics, Toray Industries, and SABIC, among others.
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Emergen Research has segmented the global continuous fiber composite market on the basis of resin type, product type, industry vertical, and region:
- Resin Type Outlook (Revenue, USD Billion; 2017-2027)
- Thermoset Composite Resins
- Thermoplastic Composite Resins
- Product Type Outlook (Revenue, USD Billion; 2017-2027)
- Woven Fabric
- Non-Crimp Fabric
- Unidirectional Tape
- Industry Vertical Outlook (Revenue, USD Billion; 2017-2027)
- Power & Energy
- Sports & Leisure
- Consumer Electronics
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- Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Saudi Arabia
- Rest of MEA
- North America
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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