Synopsis of Epoxy Composite Market
The Global Epoxy Composite Market is expected to witness a significant growth of USD ~ 38.19466 billion by 2023 with CAGR of ~7.4% between 2016 and 2023.
Epoxies composite are best known for their excellent adhesion, UV, chemical and 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. Among these type of epoxy composites, glass fiber-based Epoxy Composite is considered to be a best reinforcement because of its excellent mechanical, electrical and thermal features.
Epoxy Composite has found in various end user industry such as automotive, transportation, aerospace & defense, sporting goods, electronics industry, construction industries, and others. Increasing in demand of automotive, transportation and aerospace & defense is likely to drive the epoxy composite market growth. The growing automotive and transportation industry on account of developing domestic as well as commercial market particularly in Asia-Pacific and North America has boosted the Global Epoxy Composite Market over the forecasted period.
Epoxy composite have been widely used for manufacturing aerospace and automotive industries applications due to particular mechanical and physical properties such as high specific strength and high specific stiffness. Another important application for Epoxy composite is in the electronic industry, in which they are used for producing printed wiring boards. Composite epoxy materials (CEM) are a group of composite materials typically made from woven glass fabric surfaces and non-woven glass core combined with epoxy synthetic resin. They are typically used in printed circuit boards. Epoxy composite is low-cost, flame-retardant, cellulose-paper-based laminate with only one layer of woven glass fabric. Major end users industries for epoxy composite are automotive, transportation, aerospace & defense, sporting goods, electronics industry, construction industries, and others.
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The Global Epoxy Composite Market has been segmented into types and end user industries. On the basis of types, the market has been divided into glass epoxy composite and carbon epoxy composite.
The Glass Fiber-based Epoxy Composite segment led the epoxy composite market, in terms of volume. Above all glass fiber-based epoxy composites led to the global epoxy composite market due to its exceptional features such as high durability, UV resistance, chemical resistance, mechanical resistance and heat & electrical resistance. Thus, the glass fiber-based epoxy composites are highly used in various industrial applications, such as automotive, wind power industry like in the maintenance of wind turbines, pipe & tank, electrical & electronics, aerospace & defense and marine. Numerous key players have invested considerably in R&D enterprises glass fiber composites to fulfill the demand of glass fiber epoxy composite.
Furthermore, on the basis of end user segmentation, Global Epoxy Composite Market is segmented into automotive, transportation, aerospace & defense, sporting goods, electronics industry, construction industries, and others. Among all end users automotive, transportation and aerospace industry occupy the largest market share. The automotive industry is one of the world’s largest sectors in terms of revenue due to manufacturing the sheer number of cars.
Epoxy composite reduces the extra weight and increase rigidity & strength of automobiles, which helps to increase the efficiency and its strength, which makes cars safer and more comfortable. Presently epoxy composite products are used in many automotive applications such as from ordinary vehicles to racing cars.
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Epoxy composite is the perfect material for the aerospace industry because perfect aircraft is should have to be strong as well as light in weight, because less weight means more lift, and more strength means increased safety and ease. Epoxy composite can be found in a wide-ranging of aerospace applications such as helicopters, military planes, commercial aircraft, and UAVs (unmanned aerial vehicles).Epoxy composite composites feature in large-scale industrial machinery components, such as paper manufacturing rollers, significant weight reduction accompanied by an increase in rigidity. Epoxy composite increases resistance to wear and tear and makes various industrial components stronger, more efficient, and stronger. Higher growth rate of various end user industry is predicted subsequently to higher demands from Global Epoxy Composite Market.
Asia Pacific is the largest market of epoxy composite due to demand in various applications such as automotive, transportation and aerospace & defense in China region followed by Japan, and India. Increasing demand for automotive, aerospace and construction industry in the India, Japan and South Korea has made Asia Pacific largest consumer of the global epoxy composite market followed by increasing in the consumption of epoxy composite market in North America region. The third largest market of epoxy composite is Europe. Latin America and Middle East also witnessed in growth of epoxy composite market due to various end user industry such as electronics industry, construction industries, and others.
Key Points from Table of Content:
10. Company Profiles
10.1 Axiom Materials, Inc.
10.1.1 Company Overview
10.1.2 Product/Business Segment Overview
10.1.3 Financial Updates
10.1.4 Key Developments
10.2 Hexcel Corporation
10.2.1 Company Overview
10.2.2 Product/Business Segment Overview
10.2.3 Financial Updates
10.2.4 Key Developments
10.3 Cytec Solvay Group
10.3.1 Company Overview
10.3.2 Product/Business Segment Overview
10.3.3 Financial Updates
10.3.4 Key Developments
10.4 Koninklijke Ten Cate NV.
10.4.1 Company Overview
10.4.2 Product/Business Segment Overview
10.4.3 Financial Updates
10.4.4 Key Developments
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