Growing demand for lightweight materials in industrial applications is one of the significant factors influencing Continuous Fiber Composites market growth.
The continuous fiber composite market is expected to be valued at USD 3,315.0 million in 2027 from USD 2,184.8 million in 2019, registering a CAGR of 5.3% through the forecast period, according to a recent report by Emergen Research. There is rapid growth in the continuous fiber composite market due to the rising demand for lightweight materials from industrial applications. In the coming years, continuous fiber-reinforced thermoplastic composite is seen as an important technology for sustainable automobile, aircraft, and machinery manufacturing, offering an increased production rate of durable and lightweight parts/components with the ability to be connected to cost-effective welded assemblies without fasteners/holes.
Continuous fiber composite demand in aircraft manufacturing is an important factor driving the demand for the continuous fiber composite industry. Aircraft structures, including the Boeing 737-800 and Airbus A320, which are manufactured using glass, carbon, and aramid fibers, accounts for a large percentage of the product. The primary constituent of the continuous fiber composite matrix is low strength and rigid plastic that keeps the fibers in proper alignment and spacing and provides protection against abrasion and other environmental factors.
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Key Highlights From The Report
- Johns Manville unveiled its sophisticated composite technology in May 2019, which includes the OS-6 series and the groundbreaking CR-6 and NCF-6 series.
- Thermoset continuous composite fiber resin experiences a substantial demand due to its beneficial properties such as outstanding resistance to corrosives & solvents, high heat resistance, and increased strength.
- Composites of non-crimped fabric are reinforced with straight (non-crimped) fiber mats, offering advantages such as resilience, low cost of production, and easy handling.
- In the Asia Pacific region, the continuous fiber composite market is projected to develop at the fastest pace during the forecast period due to rapid industrialization, automotive sector growth, and increasing demand for consumer electronic products.
- Key participants include Celanese Corporation, Gurit Holding AG, Hexcel Corporation, Chomorat, Johns Manville, Huntsman Corporation, Cytec Solvay Group, Automated Dynamics, Toray Industries, and SABIC, among others.
Emergen Research has segmented the global continuous fiber composite market on the basis of resin type, product type, industry vertical, and region:
- Resin Type Outlook (Revenue, USD Billion; 2017-2027)
- Thermoset Composite Resins
- Thermoplastic Composite Resins
- Product Type Outlook (Revenue, USD Billion; 2017-2027)
- Woven Fabric
- Non-Crimp Fabric
- Unidirectional Tape
- Industry Vertical Outlook (Revenue, USD Billion; 2017-2027)
- Power & Energy
- Sports & Leisure
- Consumer Electronics
- Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
- North America
To get leading market solutions, visit the link below: https://www.emergenresearch.com/industry-report/continuous-fiber-composites-market