Rising demand for sustainable materials has worked in favor for the exponential rise in sales of composites, boosting growth of composites distributor market.
San Francisco, CA -- (SBWIRE) -- 02/05/2019 -- Use of composites is mainstreaming across multiple end-use industries, such as aerospace and defense, driving progress of composites distributor market. Rising demand for sustainable materials has worked in favor for the exponential rise in sales of composites, boosting growth of composites distributor market.
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End-users are increasingly incorporating advanced composites into their traditional and conventional manufacturing processes, to attain optimal efficiency and productivity. Use of composites is also aimed at achieving reduced production costs and improve the endorsement of sustainable materials. Optimistic scenario demonstrating adoption of composites is foreseen to provide a substantial fillip to growth of composites distributor market.
Composites Distributor Market- Notable Highlights
Leading companies operating in the composites distributor market include North American Composites, Euroresins, IMCD Group B.V., Lintech International, Composites One, Sino Composites, Frp Services & Company, Microtex Composites SRL, Gazechim, Sojitz Corporation, Microtex Composites SRL, Sumitomo Shoji Chemicals, and Soon Yang Chemicals Sdn Bhd.
In 2018, Composites One was appointed as a new North America distributor by Solvay for its product lines and process materials. Composites One, as an integral part of Solvay's authorized distribution network, takes care of a wide-range of consumables, such as release films, vacuum bagging films, release fabrics, peel plies, sealant tapes, and adhesive tapes. This new partnership is aimed at enabling Solvay to have enhanced access to multiple customer brackets and market segments, thus providing a substantial fillip to its overall profit margins.
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In 2018, IMCD Group B.V. completed the acquisition of around 100% of the outstanding shares of a European specialty chemicals distributor 'Velox GmbH'. Velox was identified as an appropriate fit with the existing operations of IMCD, on account of its well-established relationships with the global suppliers of composites and plastics. With this successful acquisition, IMCD aims to solidify its foothold as a distributor of composites and specialty plastics.
Microtex Composites SRL entered into a long-term partnership with Total Composites Solutions (TCS) Ltd, a leading organization offering advanced composites and product distribution, in 2018. The robust R&D culture along with impressive product portfolio of Microtex complements the capabilities and production approaches of TCS. This alliance was aimed at achieving high profitability in terms of revenue foothold and market sustenance via combined expertise.
Composites Distributor Market Dynamics
Demand for Lightweight Materials across Multiple Industries Creates Growth Opportunities
The demand for composites is on a consistent rise, both in developed as well as developing regions, on account of rising clamor for lightweight materials across manufacturing ecosystems. Multiple industry verticals, including automotive, aerospace & defense, construction, and consumer goods, seek lightweight materials, such as composites, on account of their high strength and computability. This, in turn, is likely to augur well for the growth of composites distributor market.
The composites distributor market is likely to gain tailwinds from industries such as pressure vessels and wind energy, which are experiencing faster growth and actively seeking high-performance composites.
North America & Asia Pacific to Emerge as Lucrative Regions for Composites Distributor
Asia-Pacific, on account of being a prominent consumer of composites, is likely to create sustained growth opportunities for companies operating in the composites distributor market. North America follows the trail in terms of composite consumption, paving mega avenues for growth of the market players over the forecast period. Both in Asia Pacific and North America, sustained demand for composites from multiple industries, such as automotive, aerospace & defense, construction, is foreseen to drive the growth of composites distributor market.
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Polyester Resin Remains the Highly Favored Material in the Composites Distributor Market
Polyester resin continues to remain in high demand and is likely to witness substantial adoption, both in terms of value and volume, owing to their role in facilitating seamless production of composite materials. Demand for polyester resin is likely to take off significantly in the future, primarily driven by increased use in pipe & tank and construction applications. Polyester resins offer a multitude of advantages, such as dimensional stability, ease of handling, and mechanical & chemical resistance, which is likely to drive its adoption across multiple end-use verticals.
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