Laminar Composites Market: Introduction
- Laminar composites are two dimensional panels or sheets. They are composite materials containing two or more layers of diverse materials, which are bonded together. Laminar composites are manufactured through different processes including brazing, explosive bonding, coextrusion, and roll bonding.
- Laminar composites are used to manufacture bi-metallics, clad metal, laminated glass, etc. Bi-metallics are laminar composites produced by assembling two strips of metal with different thermal expansion coefficients.
- Based on manufacturing process, the global laminar composites market can be segmented into brazing, coextrusion, explosive bonding, roll bonding, and others. The brazing segment dominated the global laminar composites market in 2020. The segment is projected to maintain its dominance during the forecast period. The brazing process comprises joining of two or more metal items through melting and flowing a filler metal into the joint. The adjoining metal has higher melting point than the filler metal.
Drivers of Laminar Composites Market
- Increase in application of composites in the manufacture of lightweight vehicles is driving the global laminar composites market. Laminar composites are preferred in the manufacture of lightweight vehicles due to their properties such as weight saving, corrosive resistance, fuel efficiency, and higher strength. Rise in research and development activities to produce low cost and innovative laminar composite end-products is projected to provide lucrative opportunities for the global laminar composites market.
- Rapid expansion of the building & construction industry is expected to boost the global laminar composites market. Laminar composites are widely used in restoration of existing structures. Increase in demand for composites in the construction industry due to their properties such as high esthetics, low weight, and increased stiffness is driving the global laminar composites market. Significant growth of the building & construction industry in developing countries is also estimated to boost the demand for laminar composites during the forecast period.
Restraints of Laminar Composites Market
- Dearth of universal directives pertaining to applications of laminar composites is expected to restrain the market during forecast period. Every country has different directives pertaining to applications of laminar composites. Companies find it difficult to deal with these country-wise regulations. This is discouraging investment in the laminar composites market, thereby restraining the market.
COVID-19 Impact on Laminar Composites Market
- The COVID-19 outbreak is hampering the demand for laminar composites in many applications. Governments of various countries across the globe enforced stringent lockdowns to curb the spread of the coronavirus. This led to a slowdown in manufacturing operations and restrictions on supply and transport, thus affecting the laminar composites market.
- Key players operating in the laminar composites market are primarily tier I and tier II manufacturers and suppliers. Manufacture and supply chain facilities of these players are spread across various countries in Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. Many of these players have halted their production output over the last few months due to the COVID-19 pandemic. The pandemic has negatively impacted the demand and supply chain of these composites.
- Production of laminar composites has been adversely affected by the industrial shutdown caused by the COVID-19 outbreak. Disruption of international transportation and supply of raw materials has hampered full-scale manufacturing operations. The supply shortage has led to a hike in prices of laminar composites. Thus, the COVID-19 pandemic has been hampering the global laminar composites market.
North America to Constitute Significant Share of Global Laminar Composites Market
- In terms of region, the global laminar composites market can be segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America is anticipated to hold significant share of the global laminar composites market in the near future. The U.S. represents major market for laminar composites in North America.
- Increase in demand for composites in construction and automotive sectors due to their superior performance is driving the laminar composites market in North America
- Growth of the lightweight vehicle market in Asia Pacific is driving the demand for laminar composites in the region. Increase in consumption of composites in the building & construction industry is also projected to boost the laminar composites market in Asia Pacific in the near future.
Competitive Landscape of Global Laminar Composites Market
Major players operating in the global laminar composites market are adopting various organic and inorganic growth strategies such as joint ventures, mergers & acquisitions, expansion, collaborations, new product launches, strategic alliances, and research and development to increase their regional presence and business operations. The market is currently witnessing fierce competition among several leading players. Key players operating in the market include:
- Mitsubishi Rayon
- Toray Industries
- Evonik Industries
- Ten Cate
- SGL Group
- Nippon Carbon
- 3A Composites
Global Laminar Composites Market: Research Scope
Global Laminar Composites Market, by Manufacturing Process
- Explosive Bonding
- Roll Bonding
Global Laminar Composites Market, by Application
- Clad Metal
- Laminated Glass
- Fall Ceiling
Global Laminar Composites Market, by End-use
- Buildings & Construction
- Electrical & Electronics
Global Laminar Composites Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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