The author of the report analyzed that the global “Rail composites Market” accounted for US$ 720.71 Mn in 2017.This is due to increasing requirement of high speed rail which is considered to be the most important mode of transport on the medium-haul passenger trips.
The rail composite materials make railways lighter and renders greater resistance to heat, external impact and reduce power consumption by improving overall performance. Reduction in process cycle time is the main factor that is propelling the market growth. However, various regulatory limitations and lack of suitable certification procedures addressing the specific operational requirements of a railway vehicle is expected to hamper the market growth. Increasing demand for high speed rail (HSR) is expected to create wide opportunities for the market to grow in future.
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Epoxy Resin Type Segment is Holding the Maximum Market Share during the Forecast Period
Epoxy resin type is currently dominating the market. This combination of fiber and resin provides characteristics superior to either of the materials alone and are increasingly being used as replacements for relatively heavy metallic materials. In composite material, fiber carries the majority of the load and is the major contributor to the composite material properties. The resin helps to transfer load between fibers, prevents them from buckling and binds the materials together. Thus, this strong characteristic is the reason which is attracting the users and further accelerating the rail composites market growth.
Asia Pacific is Anticipated to Have a Significant Share in the Forecast Period.
Asia Pacific is considered as the most attractive market in the forecast period. This is due to rising government initiative and investment in railway industry. China is the key consumer of rail composite in Asia-Pacific, followed by India. Growth of high speed train in China and South Korea is one of the biggest driving factor for the market in Asia pacific region. India is projected to be an important market for railway composites due to availability of intensive manpower and high demand for materials offering long-term service, reduced maintenance costs and improved resistance to wear and tear. Various product launches, partnerships, agreements, and expansions have in turn made the regions a potential growth market for rail composite. Hence, Asia Pacific region is anticipated to be the fastest growing region in the global rail composites market. In May 2017, Ipeco had established a new Singapore regional base to extend its crew seating and galley insert support network across Asia Pacific region. Ipeco Singapore further developed the company’s relationships with existing and new customers with a view to optimizing the service support benefits which were available from its expanding spares distribution and authorized repair network across the region.
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Rail composites Market is Fragmented in Nature with the Presence of Global and Regional Players
Some of the significant players functioning in the rail composites market include Airex Composite Structures, Hexcel Corporation, Ipeco Holdings Ltd, Kemrock Industries And Exports Limited, Teijin Limited, Toray Industries, Inc., TPI Composites, AIM ALTITUDE, Cytec Solvay Group, Euro Composite Group, FDC Composites Inc., Gurit, Joptek Oy, KINECO, Premier Composite Technologies and Permali.
In June 2017, Toray Industries Inc. signed long term supply agreement with Avio of high performance carbon fiber. This long term supply commitment for rocket motor case application and strengths the corporation between groups for space applications.
Rail composites Market – By Fiber Type:
Carbon Fiber Composites
Glass Fiber Composites
Rail composites Market – By Resin Type:
Market By Application:
Market By Region:
Rest of North America
Rest of Europe
Rest of Asia Pacific
Middle East and Africa
Rest of Middle East and Africa
Rest of Latin America
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