Plastic Composite Molding: Introduction
- A composite material is a combination of two materials with different physical and chemical properties. When they are combined, they create a material that is specialized to do a certain job; for instance, to become stronger, lighter, or resistant to electricity. It can also improve strength and stiffness. The reason for the preference for composite materials over traditional materials is because they improve the properties of their base materials and are applicable in various situations.
- Plastic composite molding is the process of manufacturing by shaping liquid or pliable material using a rigid frame called a mold or matrix. When molding plastics, a powder or liquid polymer such as polyethylene or polypropylene is placed into a hollow mold so that the polymer can take its shape. Based on the type of process used, various ranges of heat and pressure are used to create an end product.
Key Drivers of Global Plastic Composite Molding Market:
- Rise in popularity of composites in the global market is due to various applications and end users and are continuing to replace other materials, such as metals in the aerospace and defense industry, by composites owing to the increased demand for lightweight aircraft components, which enhance fuel efficiency. This increase in demand for composites in the aeronautics sector is driving the global plastic composite molding market.
- The wind energy sector is driving the composite molding market, owing to an increase in the demand of renewable energies. Rise in demand for long blades in the production of wind turbines is creating opportunities for carbon fiber composites. However, the wind energy sector is estimated to witness an increase in usage of carbon fiber composites owing to the changing strategies and policies. This, is turn, boosts the plastic composite molding market across the globe.
- Sustainability is a rising trend witnessed in the global plastic composite molding market. Increased demand for lightweight components in the transportation sector, shift toward renewable energy, and recycling of materials are some factors driving the use of composites in different applications
Global Plastic Composite Molding Market to Offer Significant Opportunities:
- Demand for rapid production in the automobile sector is increasing, which is boosting the adoption of composite plastic molding process in wide-ranging applications. Manufacturers in the aeronautics industry have started using composites in the aircraft structures and components in order to meet the regulatory norms, thereby creating an opportunity for the plastic composite molding market across the globe.
Impact of COVID-19 on Global Plastic Composite Molding Market:
- The outbreak of COVID-19 has had a negative impact on the production of plastic composite molding process due to the disruption in the supply chain across the globe. The global pandemic has led to a reduced supply of some of the products primarily due to the reduced operating capacities of production plants across Europe and Asia-Pacific. Furthermore, manufacturers are also facing serious headwinds due to disruptions in raw material supply and fluctuations in prices. All these factors are hamper the growth of plastic composite molding market across the globe.
Europe to Hold Significant Share of Global Plastic Composite Molding Market:
- The plastic composite molding market in Asia Pacific is estimated to expand at a rapid pace during the forecast period, followed by North America and Europe. Expansion of the market in Asia Pacific can be attributed to the high rate of adoption of plastic composites molding process in countries such as China and India, which manufacture a significantly high number of plastic composite products. Increase in population in countries, such as India and China, is estimated to cater to a rise in production capacities of manufacturers.
Key Players Operating in Global Market:
The global plastic composite molding market is highly consolidated with the presence of top manufacturers across the globe. A few of the key players operating in the global plastic composite molding market are:
- Chomarat Group
- Molded Plastic Industries, Inc.
- KraussMaffei Group
- New Boston RTM
- Scott Bader Company Ltd.
- A. Schulman, Inc.
- STRONGWELL CORPORATION
- Continental Structural Plastics Inc.
- Core Molding Technologies
Global Plastic Composite Molding Market: Research Scope
Global Plastic Composite Molding Market, by Material
- Polyethylene (PE)
- Polyethylene Terephthalate (PET)
- Polypropylene (PP)
- Polyvinyl Chloride (PVC)
- Polystyrene (PS)
- Acrylonitrile Butadiene Styrene (ABS)
Global Plastic Composite Molding Market, by Application
- Automotive & Transportation
- Building & Construction
- Electrical & Electronics
- Consumer Products
Global Plastic Composite Molding 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
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.
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.