Composite Laminates:  Introduction

  • Composite laminate is made of many layers of a composite mixture, which is made of matrix and fibers. Each layer of the composite laminate offers similar or dissimilar characteristics with different fiber orientations.
  • The layers of composite laminates offer properties such as high specific modulus and excellent specific strength. These layers can be tailored for any specific application. These features of composite laminates play a useful role in the manufacture of various aircraft parts.

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Key Drivers of Composite Laminates Market

  • Rise in industrialization and urbanization is a key driver of the composite laminates market. Composite laminates are light weight and play a significant role in aerospace applications. Aircraft designers are concerned about the weight of the aircraft, as weight reduction decreases the amount of fuel required and improves the speed. Rise in fuel prices has led to an increase in demand for lightweight structures and materials. Composite laminate materials possess high stiffness as well as strength-to-weight ratio vis-à-vis traditional metallic materials. Lightweight composite laminates and structures enable aircraft to carry more fuel and payload. Furthermore, they help improve fuel efficiency without compromising on safety or performance.
  • Growth in usage of advanced composite laminates in development programs of fighter aircraft is a significant example of utilization of composite laminates in the aerospace & defense sector. This is expected to drive the demand for composite laminates in the near future.

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COVID-19 Impact on Global Composite Laminates Market

  • According to the International Monetary Fund (IMF), the global economy is expected to face losses worth US$ 9 Trn by 2021. This, in turn, is likely to adversely affect major industries including aerospace & defense and automotive.
  • The global composite laminates market is estimated to be adversely affected by the outbreak of coronavirus. Composite laminates are extensively employed in applications including aerospace & defense and automotive. The outbreak of Covid-19 is projected to hamper the manufacturing of parts made of laminated composites in the near future. Supply chain disruption is another factor that is likely to restrain the market in the near future.

North America to Hold Prominent Share of Global Composite Laminates Market

  • Geographically, the global composite laminates market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • The composite laminates market in North America is expected to expand at a healthy pace in the near future. North America is the dominant region for composite laminates in terms of volume due to fleet expansions and increasing investments in aerospace & defense and automotive applications in the region. Furthermore, the region is expected to be highly attractive during the forecast period due to the raw material processing ability and other technological advancements in the region. The outbreak of Covid-19 has led to supply chain disruption, thereby hampering the production and supply of composite laminates. However, North America is expected to bounce back by the end of 2021.
  • Asia Pacific is another significant region of the market, with China contributing prominent share. Rise in air passenger traffic and improvement of economy and lifestyles are estimated to drive the demand for composite laminates in aerospace application during the forecast period. Furthermore, the war-like situation of India with China has led to an increase in demand for aircraft in the country. This is expected to drive the demand for composite panels in manufacture of various aircraft parts due to their excellent specific strength, high specific modulus, and composite panels’ ability of being able to be tailored for any specific application.
  • Excellent durability, lightweight, high strength-to-weight ratio, high moisture resistance, and ease of installation of composite laminates are likely to drive the demand for these laminates in Latin America and Middle East & Africa

Key Players Operating in Market

The global composite laminates market is highly fragmented. Manufacturers are highly engaged in new product launches in order to expand their share in the market. Prominent players operating in the global composite laminates market include:

  • Panolam Industries International, Inc.
  • Polser Fiberglass Reinforced Plastics Inc.
  • Crane Composites
  • LAMILUX Heinrich Strunz Holding GmbH & Co. KG
  • Stabilit
  • Brianza Plastica S.p.A.
  • Vetroresina SpA
  • U.S. Liner Company (Uslco)
  • Optiplan GmbH

Global Composite Laminates Market: Research Scope

Global Composite Laminates Market, by Matrix Type

  • Thermoset Composites
  • Thermoplastic Composites
  • Others

Global Composite Laminates Market, by Reinforcement Type

  • Glass
  • Carbon
  • Others

Global Composite Laminates Market, by End-use Industry

  • Building & Construction
  • Aerospace & Defense
  • Automotive
  • Others

Global Composite Laminates Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Composite Laminates Market