Global Fiber Reinforced Composites Market: Overview
The demand for fiber reinforced composites (FRC) is increasing from across automotive and construction industries, which in turn is boosting the global market for FRC. Fiber reinforced composites offer weight reduction and high strength, thus gaining high popularity in various application segments. The versatility and durability of these composites are expected to boost their demand. Thus, the global fiber reinforced composites market is expected to grow at a significant pace over the coming years.
The study investigates factors contributing to the growth of the market and also discusses growth inhibitors in detail. The report analyzes key segments of the global fiber reinforced composites market and gives the share held by each segment, thus enabling a clear understanding regarding the leading, declining, and fastest growing segment. The reasons behind the state of a segment are also included in the report so that readers get a thorough understanding of the industry. The global trends shaping the industry and a study of the various factors, which will widen the scope of the market have been discussed in the report.
Global Fiber Reinforced Composites Market: Drivers and Trends
The high chemical resistance coupled with the strength-to weight ratio is expected to push the global demand for fiber reinforced composites. Among types of fiber reinforced composites, the global demand for fiber reinforced polymer is high. Of the various end-use industries such as military, building and construction, electrical, automotive, and electronics segments, the demand for fiber reinforced composites is high from the automotive and building and construction industries. In the years to come, it is expected that the marine and aerospace sectors will create new growth opportunities and fuel the demand for fiber reinforced composites. On the other hand, the high cost of fiber will pose a major challenge for the manufacturers of fiber reinforced composites and thus will hamper the growth of the market.
Global Fiber Reinforced Composites Market: Segmentation.
By geography, the highly developed industries such as marine, automotive, and aerospace are creating a massive demand for fiber reinforced composites in North America. The building and construction and aerospace industries in Europe are also creating a significant demand for FRC. However, it is Asia Pacific, which is anticipated to expand at a significant CAGR in the years to come on account of high demand from developing nations such as China, Korea, Japan, and India. High industrialization, a surge in construction activities, high investments, and technological advancements are expected to boost the market for fiber reinforced composites in the region. On the basis of application, the market is segmented into sports and leisure, marine, electrical, electronics, aerospace, construction and building, and automotive. Of these, a high demand for light weight parts in the marine, aerospace, and automotive sectors is expected to boost the market.
Key Players Mentioned in this Report are:
Key players in the global fiber reinforced composites market are profiled in the report with the intention of studying details such as recent developments, challenges faced, and strategies employed. The business and financial overview of companies along with information regarding mergers and acquisitions activities are also given. Some of the companies mentioned in the report are: CCP Composites, Hexcel Corporation, Toray Industries Inc., Zoltek Corporation, Kemrock Exports and Industries Limited, and LAMILUX Heindrich Strutz Group.
The report segments the global fiber reinforced composites market as:
- North America
- Asia Pacific
- Rest of the World
This report gives you access to decisive data such as:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for the coming years
Key highlights of this report
- Overview of key market forces propelling and restraining market growth
- Up-to-date analyses of market trends and technological improvements
- Pin-point analyses of market competition dynamics to offer you a competitive edge
- An analysis of strategies of major competitors
- An array of graphics and SWOT analysis of major industry segments
- Detailed analyses of industry trends
- A well-defined technological growth map with an impact-analysis
- Offers a clear understanding of the competitive landscape and key product segments