Epoxy Composite Market accounted for USD 23.25 billion in 2016 and is projected to grow at a CAGR of 7.4% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2014, 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
Market Definition: Global Epoxy Composite Market
Epoxy composites are best known for their excellent adhesion, UV, chemical & heat resistance, good mechanical properties, and outstanding electrical insulating properties. It is formed into two types i.e. glass epoxy composite and carbon epoxy composite. There is a growing demand for epoxy composite in wind energy, aerospace & defense, automotive & transport, sporting goods, electrical & electronics, pipe & tank and marine activities, which is expected to be one of the major drivers of the market over the next seven years.
Major Market Drivers:
- Increasing demand for epoxy composite from wind energy sector
- Demand for material with high mechanical strength, lightweight, and resistance against corrosion
- Availability of alternative resins
- Issues related to remoldability and recyclability
- High volatility in raw material prices
Market Segmentation: Global Epoxy Composite Market
The epoxy composite market is segmented on the basis of fiber type into glass fiber and carbon fiber.
On the basis of manufacturing process, the market is segmented into layup process, compression molding process, resin injection molding process, resin transfer molding process, filament winding process and pultrusion process.
On the basis of end-user, the market is segmented into wind energy, aerospace & defense, automotive & transport, sporting goods, electrical & electronics, pipe & tank, and marine.
On the basis of geography, the epoxy composite market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.
Competitive Landscape: Global Epoxy Composite Market
The global epoxy composite market is fragmented with the presence of a large number of players across different regions. These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
Major Market Competitors: Global Epoxy Composite Market
Some of the major players in epoxy composite market include Cytec Solvay Group, Hexcel Corporation, Royal Tencate N.V., Teijin Limited, Toray Industries Inc., Gurit Holding AG, SGL Group, Axiom Materials, Mitsubishi Rayon Co., Ltd., Park Electrochemical Corporation, Kemrock Industries and Exports Limited, Sumitomo Bakelite Co., Ltd., Myko Engineering, Rotec Composite Group B.V., Barrday, Gordon Composites, Inc., Hindoostan Composite Solutions, ATL Composites, IDI Composites, Isosport and many more.