Pune, India -- (SBWIRE) -- 05/19/2017 -- Synopsis of Epoxy Composite Market - Market Highlights
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.
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.
Global Epoxy Composite Key Players:
Key Players of the Global Epoxy Composite Market are:
- Axiom Materials, Inc. (US)
- Hexcel Corporation (US)
- Cytec Solvay Group (Belgium)
- Koninklijke Ten Cate NV. (Netherlands)
- Teijin Limited (Japan)
- Toray Industries, INC. (Japan)
- Mitsubishi Rayon Co. Ltd. (Japan)
- Rotec Composite Group B.V. (Netherlands)
- SGL Group (Germany)
- Gordon Composites, Inc. (US)
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The global epoxy composite market is classified on the basis of mixed geographic segmentation which involves regions such as America, Europe, Asia-Pacific, Middle East and Africa. Out of all, Asia Pacific epoxy composite market is largest market owing to robust industry growth of end user industry in China, Japan and India. Asia-Pacific is expected to be the fastest-growing market for epoxy composite. Positive stance on end-use industries such as automotive, transportation, aerospace & defense, sporting goods, electronics industry, construction industries, and others in countries like China & India is expect to drive demand. Increasing demand from the automotive & transportation, sporting goods, aerospace & defense, and construction industries, due to increase urbanization of various countries in the APAC region including India, japan and south Korea, fuel the growth of the global epoxy composite market during the forecast period.
Furthermore, North-America region stand on second positions in terms of global epoxy composite market. The demand of epoxy composite in this is becoming essential due to due to its features, such as low maintenance, durability, and lightweight and high flexibility in end user industries, including automotive, aerospace & defense, transportation, sporting goods, electronics industry, and others.
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The North American epoxy composites industry has strong demand for its high volume usage with automated processes, decent design and advance expertise. Additionally, wind turbine industry is predicted to growing industry, increased output of aerospace & defenses industrial applications will also drive the growth for epoxy composites in North America. Due to low cost and good performance of glass fiber, will be the leading reinforcement substantial through the forecasted period.
The third largest market of epoxy composite is Europe, witnessed in growth of epoxy composite market due to various application such automotive, construction and sporting goods countries like Germany, France, UK, Italy, Spain, Netherland, Poland, and rest of Europe. Latin America and Middle East also witnessed in growth of epoxy composite market due to various end user industry such as automotive, electronics industry, construction industries, and others including the countries like UAE, South Africa, Saudi Arabia and rest of Middle East & Africa.
The global epoxy composite market is majorly segmented on the basis of types, end users and region. Based on types of epoxy composite the market is segmented into glass epoxy composite and carbon epoxy composite. Based on end user the market segmented into automotive, transportation, aerospace & defense, sporting goods, electronics industry, construction industries, and others (Wind power industry, Oil & Gas, Marine) and based on region market is segmented into North America, Europe, APAC, Latin America, Middle East & Africa.
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