Epoxy Composites Market: Lightweight Composites with Excellent Material Properties
- Epoxy composite is one of the highly important composites with broad range of applications in end-use industries such as automobile, aviation, and sports materials
- Epoxy resin is produced by the combination of epoxy synthetic resin with woven glass fabric and non-woven glass core. Hence, epoxy composites can be employed in the manufacture of lightweight materials.
- Epoxy is a popular thermoset resin that is employed in various composite parts, and concrete repairs and structures due to its superior mechanical properties, lesser shrinkage, corrosion resistance, excellent electrical properties, and strong adhesion to substrates. Thus, epoxy composites are being increasingly used in structural applications.
- Rise in requirement of lightweight materials in automobile and aviation industries is anticipated to drive the demand for epoxy composites across the globe due to its low weight-to-strength ratio. Furthermore, growth in demand for composite materials in pipes & tanks and oil & gas applications is estimated to fuel the global epoxy composites market during the forecast period.
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Rapid Growth of Wind Energy Market to Propel Demand for Epoxy Composites
- The global wind power market is expanding at rapid pace. The market was more than 50 GW in 2017, the total installations of wind power plants were 52,492 MW in 2017. Rise in capacity of wind energy in developing countries such as China and India is estimated to drive the demand for epoxy composites.
- Epoxy composites are widely employed in wind turbines. Their superior material properties such as durability and excellent mechanical strength along with lightness of weight significantly boost the efficiency of wind turbines.
- Thus, expansion in the wind energy market is anticipated to drive the demand for epoxy composites across the globe
Fiber Glass Epoxy Composites to Hold Key Share of Global Epoxy Composites Market
- Fiber glass epoxy composites are widely employed in a broad range of end-use industries such as wind energy, pipes & tanks, electrical & electronics, oil & gas, and marine, as these composites have high durability, and high strength-to-weight ratio and fabrication adaptability
- Rapid growth in the electrical & electronics industry, primarily in emerging economies, due to public and private investments and rise in demand for end-use products such as consumer electronics devices are anticipated to drive the fiber glass epoxy composites segment
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Asia Pacific is to Dominate Global Epoxy Composites Market
- Geographically, the global epoxy composites market can be split across five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific is a key region of the global epoxy composites market. Expansion in automotive, transportation, and aerospace & defense industries is estimated to drive the market in Asia Pacific in the near future. Increase in popularity of epoxy composites in design of lightweight automobile and automotive products is estimated to positively impact the demand for epoxy composites.
- Glass fiber epoxy composites are widely employed in the manufacture of PCBs. The market for printed circuit board (PCB) is rapidly expanding in Asia Pacific region due to the presence of well-established electronics manufacturing industry and high demand for end-use products in the region. This, in turn, is anticipated to drive the demand for epoxy composites in the region.
- Epoxy composites sports goods and sportswear offer enhanced performance quality due to its low weight to strength properties of the composites. Large presence of young population, improvement in standard of living, and increase in popularity of various sports through governmental support in countries such as China and India have augmented the demand for high quality sports goods and sportswear in the Asia Pacific region. It is positively impacting the demand of epoxy composites in Asia Pacific region.
- North America and Europe are estimated to hold key share of the global epoxy composites market in the near future. Increase in demand for lightweight materials, primarily in fuel efficient automobile designs, due to the implementation of stringent environmental regulations is likely to drive the demand for epoxy composites in North America and Europe.
Key Players in Market
Key players operating in the global epoxy composites market engage in product developments in the field of lightweight and durable materials to gain competitive advantage over their competitors. Major players operating in the global epoxy composites market include:
- Gurit Holding AG
- Cytec Solvay Group
- Hexcel Corporation
- Park Electrochemical Corporation
- Axiom Materials
- Quantum Composites
- Composites One
- Myko Engineering
- SGL Group
- Rotec Composite Group B.V.
- Toray Industries, INC
Global Epoxy Composites Market: Research Scope
Global Epoxy Composites Market, by Product
- Glass Fiber Epoxy Composites
- Carbon Fiber Epoxy Composites
Global Epoxy Composites Market, by Process
- Compression Molding
- Resin Injection Molding
- Resin Transfer Molding
- Filament Winding
- Others (Perfusion, etc.)
Global Epoxy Composites Market, by Application
- Wind Energy
- Aerospace & Defense
- Sporting Goods
- Others (Construction, etc.)
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
- 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.
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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.
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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?
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