Epoxy Composite Market

The epoxy composite market was valued at USD 21.6 billion in 2021 and is projected to reach USD 33.1 billion by 2028

The epoxy composite market was valued at USD 21.6 billion in 2015, and it is expected to grow at a CAGR of 7.3 percent to USD 33.1 billion by 2021. The foundation year for this research is 2015, with the projection period running from 2016 to 2021.

Market Trends

Drivers

The wind energy industry is driving up demand for epoxy composites.

Demand from developing countries is on the rise.

Material with high mechanical strength, light weight, and corossion resistance is required.

Opportunities

Adoption of low-cost manufacturing techniques

Wind energy is becoming more popular in developing countries.

Challenges

Raw material costs are high, as are research and development operations.

Reduce the time it takes to make an epoxy composite item.

The wind energy industry is driving up demand for epoxy composites.

Environmental rules have been adopted by governments in Asia-Pacific, Europe, and North America in order to minimise greenhouse gas emissions. As a result, there has been a move toward renewable energy as a source of energy. In order to reduce carbon emissions, wind energy capacity is being installed at a rapid rate in these areas. For the construction of wind turbine parts such as turbine blades, nacelles, and hubs, manufacturers use lightweight materials such as epoxy composite. Due to their superior mechanical qualities, epoxy composites are replacing traditional materials such as metals and alloys in wind turbines. Parts for wind turbines must be low-maintenance and have a high strength-to-weight ratio, which epoxy composites may provide. By expanding the length of the blades, lightweight materials improve the efficiency and performance of wind turbines. Furthermore, the usage of epoxy composites provides excellent strength, stiffness, and compression strength to wind turbines, allowing them to carry more weight.

Epoxy Composite Market
Epoxy Composite Market

The study’s goals are as follows:

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The goal of this study is to define, describe, and forecast the epoxy composite market by fibre type, application, and region.

To give extensive information on the major variables impacting market growth (drivers, restraints, opportunities, and challenges)

to conduct a strategic analysis of micromarkets1 in terms of individual growth trends, future prospects, and market contribution

To establish a competitive landscape for market leaders by analysing market opportunities for stakeholders.

To develop a strategic profile of important players and conduct a thorough analysis of their market shares and core strengths.

Micromarkets are sub-segments of the epoxy composite market that are featured in the report.

Note2: A company’s core competences are established by its significant developments, SWOT analysis, and important strategies for surviving in the market.

To study and obtain insights into the epoxy composite market, secondary sources such as corporate websites, encyclopaedias, directories, and databases such as Composite World, Factiva, and American Composites Manufacturers Association were consulted. Sources from both the supply and demand sides were interviewed as part of the main research process to acquire qualitative and quantitative data for this report. In order to assess the market size in terms of value, the bottom-up approach was adopted. In order to validate the market size in terms of value, a top-down strategy was used. In this study, exact figures of the sizes of the overall parent market and specific markets were calculated and confirmed using the data triangulation technique and data validation using primary.

The profile breakdown of primary interview participants is depicted in the diagram below.

Downstream players such as manufacturers, vendors, end-users, and government agencies make up the epoxy composite market’s ecosystem. Arkema (France), Mitsubishi Plastics, Inc. (Japan), Formosa Plastics Corporation (Taiwan), SGL Group (Germany), SABIC (Saudi Arabia), Toray Carbon Fibers America Inc. (US), Huntsman Corporation (US), and others are some of the key raw material suppliers.

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The main target audience is:

Manufacturers of epoxy composites

Traders, distributors, and suppliers of epoxy composites

Suppliers of Raw Materials

Governments and Institutions of Higher Learning

Associations and Business Organizations

Institutions for Research and Development
The Report’s Scope

The epoxy composite market is divided into four categories in this report: resin type, application, manufacturing technique, and geography. It examines trends in each of the submarkets and estimates revenue growth until 2021.

Based on the type of fibre

Glass

Carbon

Others

Based on the End-Use Industry,

Wind Power

Defense & Aerospace

Sporting Equipment

Transportation and Automobiles

Electrical and electronic engineering

Tank & Pipe

Marine

Others

Based on the manufacturing process,

Lay-up

Moulding by Compression

Injection of Resin

Moulding using Resin Transfer

Winding Filament

Pultrusion

On the basis of geographical location,

North America is located in North America.

Europe

Asia-Pacific

Latin America is a continent in South America.

ME&A

Each area has been divided into significant countries within that region.

The report responds to critical questions.

What are the next epoxy composite trends in emerging countries?

What are the market’s major participants, and how fierce is the competition?

Customizations that are available:

The provides modifications based on the provided market data to meet the specific needs of businesses. The following report customization options are available:

Analysis of the Product

Product matrix, which compares each company’s product portfolio in great depth.

Analyses by Region

Further analysis of the epoxy composite market in North America

The European epoxy composite market is broken down even more.

The Asia-Pacific epoxy composite market is broken down even more.

The Latin American epoxy composite market is broken down even more.

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The ME&A epoxy composite market is broken down even more.

Information about the company

Additional market participants’ biographies and detailed analysis

Between 2016 and 2021, the global epoxy composite market is expected to grow at a CAGR of 7.34 percent, reaching USD 33.1 billion. Epoxy composites have great compression and tensile strength, as well as a low weight, high modulus of elasticity, and strong corrosion resistance. The penetration of sophisticated materials such as epoxy composite in various industries such as wind energy, aerospace & defence, automotive & transportation, sporting goods, electrical & electronics, pipe & tank, and others is driving the epoxy composite market forward. Furthermore, the epoxy composite market is benefiting from extended life and minimal maintenance requirements, fast urbanisation and economic expansion in emerging nations, and the development of novel products.

Glass, carbon, and other fibre types are categorised in the epoxy composite market. Because it is used in industries such as wind energy, electrical & electronics, and pipe & tank, and it is economically cheaper than other fibres, the glass fibre based epoxy composite market is predicted to grow quicker during the forecast period.

With the growth of epoxy composites, the high cost of research and development has been a major problem. Developing low-cost technologies is a serious problem for all researchers and important industries due to high R&D costs. As a result, epoxy composite is exclusively used in high-end applications in the automotive and transportation industries, such as luxury cars. The production of low-cost epoxy composites has the potential to raise demand from a variety of end-use industries. Epoxy composites offer a wide range of applications. Commercialization of these applications, however, has yet to commence due to prohibitive costs.