The Market of Continuous Fiber Composites is to grow at CAGR 6.5% by 2023

The new report of Stratview Research analyses the Continuous Fiber Composites Market over the trend period from 2012 to 2017 and forecast period from 2018 to 2023. The insights of the report shall enable informed decision making and strategy formulation for the near future to capitalize on the opportunities.

Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
• Strategic segmentation
• Market analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Detailed Competitive Rivalry landscaping
• Market trend and forecast analysis
• Future Growth Boulevards

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The Global Continuous Fiber Composites Market: Highlights
Composites have earned their way onto various end-use industries, propelled by a long list of their advantages including high strength-to-weight ratio, excellent corrosion and creep resistance, low-maintenance cost, and lightweight. The materials have a disruptive journey of more than eight decades and are efficaciously gaining penetration in both high-performance as well as cost-sensitive end-use industries. The penetration of composites is not likely to cede here and will penetrate more in the coming years.

The Growth Prognosis & its Drivers
The global continuous fiber composites market is likely to grow at a healthy CAGR of 6.5% over the next five years, driven by a host of factors including an organic growth of composite rich end-use industries including automotive and aerospace & defense; introduction of stringent government regulations regarding the fuel efficiency enhancements and the carbon emission reductions; and superior performance of continuous fiber composites over traditional metals including aluminum and steel. Both glass, as well as carbon fibers, are increasingly used in various applications, owing to their distinct advantages.

Market Segments
The continuous fiber composites market is segmented into the form type as Woven Fabrics, Non-Crimp Fabrics, Unidirectional Tape, and Others. Woven fabric is projected to remain the most dominant form type in the market during the forecast period, driven by a high usage in various end-use industries including wind energy, automotive, and electronics. Non-crimp fabric occupied a considerable share of the market, driven by an increased usage in wind energy. The fabric allows an easy flow of resin and provides good mechanical strength in multiple directions.

Based on the reinforcement type, the continuous fiber composites market is segmented into Glass Fiber Composites, Carbon Fiber Composites, and Other Composites. Other composites mainly include aramid fiber composites. Glass fiber composite is projected to remain the most dominant segment of the market during the forecast period, driven by a wide array of advantages including low cost, good mechanical performance, and excellent corrosion and abrasion resistance. The fiber mainly competes with metals including steel and aluminum and is considered an ideal material in highly cost-sensitive markets, such as wind energy, automotive, marine, and building & construction.

Based on the end-use industry type, the continuous fiber composites market is segmented into Aerospace & Defense, Automotive, Wind Energy, Electronics, Sporting Goods, and Others. Wind energy is likely to maintain its dominance in the total continuous fiber composites market during the forecast period. Wind blades, spinners, and nacelles are the major composite applications in the wind energy and largely fabricated with glass fiber composites using continuous fiber composites. Increasing wind turbine installation across the globe is the prime driver for the demand for composites in this industry. China, India, the UK, Germany, and the USA are likely to remain the growth engines of the market for the segment over the next five years.

Aerospace & Defense and automotive are likely to be the fastest-growing markets during the forecast period, driven by an increasing penetration of composites in structural to semi-structural applications. Stringent regulations regarding the fuel efficiency enhancements are the major factors driving the demand for composites in these segments.

Automotive is also following the footsteps of the A&D industry. Major automakers are working closely with composite industry stakeholders with regards to increasing the composites content in their upcoming vehicle models. For instance; BMW developed BMW i3 vehicle using carbon composite passenger cell. It is the world’s first mass-produced model in the auto industry with high carbon composites content.

Based on the regions, Asia-Pacific is likely to remain the largest market during the forecast period, driven by China, India, and Japan. High installations of wind turbines, high automobile production, high electronic parts manufacturing, upcoming indigenous commercial and regional aircraft (COMAC C919 and Mitsubishi MRJ), and the opening of assembly plants of Boeing and Airbus in China are some of the major factors driving the demand for continuous fiber composites in the region.

Market Players
The global continuous fiber market is highly competitive with the presence of a large number of global as well as regional players in which some of the players are vertically integrated from fiber manufacturing to intermediate products manufacturing to composite parts manufacturing. Some of the major global players are Owens Corning Corporation, Saertex GmbH & Co. KG, Sekisui Jushi Corporation, Chomarat Group, Hexcel Corporation, Toray Industries, and SABIC Corporation.

Almost, all the major players own distinct capabilities and are serving specific product segments. For instance; Owens Corning Corporation leads the woven textiles market, whereas Saertex GmbH spreadheads the non-crimp textiles market. It is important to note that this reduces the overall competition as they do not have the presence in all the form types.

Comprehensive Market Coverage
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This release was published on openPR.