Transportation composites are widely used in many industries, including aquatics, aerospace and defence, automotive, and others. Composites have improved abrasion resistance, immobility, high modulus, exceptional strength, low density, high chemical resistance, and minimal creep, making them suitable for use in automobile machinery, internal car panels, and aviation constructions, among other applications.
Transportation Composites Market Report Scope and Research Methodology:
The primary goal of this report is to provide a comprehensive assessment of the Transportation Composites market, which includes major key stakeholders in the Transportation Composites industry. The assessment clearly shows the forecasted market size and trends, as well as the historical and current status of the Transportation Composites market. Revenue, market share, production, and sales data for the Transportation Composites market are included in the report. The report also covers Transportation Composites market segment trends, investment, and technology, as well as the competitive landscape. It also looks at regional and market segments, application areas, and market expansion strategies. In-depth market segmentation analysis aids in determining current market opportunities, and the major segments of the Transportation Composites market are further subdivided.
To identify the current market opportunity, the report analyses the Transportation Composites market qualitatively and quantitatively from 2022 to 2029. The ability of Transportation Composites industry suppliers and buyers to make profit-oriented business decisions and strengthen their buyer-supplier network is highlighted by Porter’s five forces analysis. The Transportation Composites market study offers one-of-a-kind guidance in thoughtful details about development factors, and it was created using a top-down and bottom-up approach to ensure accuracy and precision. SMR’s expert analysts used extensive primary and secondary research methodologies to gather data for the Transportation Composites market report.
Transportation Composites Market Overview:
The report discusses the Transportation Composites Market’s drivers, restraints, technological advancements, product developments, market opportunities, restrictions, growth strategies, market prospects, and forecast period in detail. The report examines the Transportation Composites industry in depth, including key figures such as Transportation Composites market size, market share, revenue growth, and CAGR for the forecast period (2021 to 2027).
Transportation Composites Market Size was valued at USD 37.35 billion in 2021. The Global Transportation Composites Market size is estimated to grow at a CAGR of 12.5 % over the forecast period.
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Transportation Composites Market Drivers:
COVID-19 Impact: Crude oil price volatility has had an impact on feedstock prices. Despite the pandemic of solid demand, consumer demand for good consumer applications of these materials is expected to remain strong. The Transportation Composites market is expected to grow at a slower rate than in 2021 due to low demand from the automotive and aerospace industries, as well as a scarcity of basic materials. Building and construction, as well as the automotive industry, have been among the hardest hit by the covid-19, and a slow recovery is expected due to other macroeconomic factors such as job losses and debt. This slow recovery is expected to stifle the growth of the transportation composites market in the long run.
Transportation Composites Market Segmentation:
Thermoset: Contact moulding is a well-known and simple method of producing fiber-reinforced thermoset composites. Contact moulding is used to make glass, jute, or carbon fiber-reinforced composites out of thermoset resins that cure at room temperature, such as unsaturated polyester, vinyl ester, epoxy, and others. This method can be used to build a wide variety of structures, with no restrictions on the size or complexity of the structure’s shape. However, because the procedure is labor-intensive and time-consuming, it is only used for small runs or one-time jobs.
RTM (resin transfer moulding) is expected to boost the transportation composites market. The RTM method has excellent growth prospects in the next five years due to the development of the automotive and aerospace industries in emerging markets. It is now the most promising technology because of its ability to produce large, complex three-dimensional parts with high mechanical implementation, tight dimensional tolerance, and high surface quality. RTM can use either hard or soft tooling depending on the planned run length. Soft tooling would be polyester or epoxy moulds, whereas hard tooling would be cast machined aluminium, electroformed nickel shell, or machined steel moulds.
The thermoplastic resin segment is likely to be the fastest growing. The primary benefit of thermoplastic resins as matrix materials is that, unlike thermoset resins, the resulting composite can be deformed and reformed. The composite that results is easily recyclable. As matrix materials for composites, various types of thermoplastic resins are used. Thermoplastic composites simplify the creation of complex material shapes. Because they can be stored at room temperature, they can also be used to construct large structures.
Interior Application: The interior application accounts for a sizable portion of the transportation composites market. Transportation composites are frequently used for interior applications in the automobile and aerospace industries due to their unique characteristics such as strength, flexibility, durability, low weight, and resistance to heat, temperature, and moisture. During the Forecast period, the most common application of transportation composites is the interior component. Composites are seeing an increase in demand from the aerospace and defence industries, as well as highways, in North America and Europe. The growing market for electric vehicles (EVs) is driving up demand for composites in internal applications once more.
The interior application is expected to account for the lion’s share of the transportation composites market. Because of the widespread use of composites in automobiles, the road sector is one of the largest users of composites in interior applications. The increased demand for thermoplastic composites in aeroplane components due to their higher strength and lower weight is driving the interior application area. Trains are a major contributor to the increased demand for composites in the interior application segment.
Exterior: Demand for high-grade composite materials from commercial and defence aircraft builders is driving the market in the airways segment. Composite materials are used in a variety of applications, including seats, cabins, sandwich panels, fuselages, engines, wings, rotor blades, and tail booms. New aviation programmes from major players, such as Boeing’s top commercial aircraft, the 787, 777X, and A350, use a significant amount of composites for airframe structures.
Transportation Composites Market Key Players:
Hexcel Corporation (US)
Toray Industries, Inc. (Japan)
Owens Corning (US)
Grit Holding AG (Switzerland)
Solvay S.A. (Belgium)
Mitsubishi Chemical Holdings Corporation (Japan)
Teijin Limited (Japan)
SGL Group (Germany)
Royal DSM (Netherlands)
Jushi Group Co., Ltd. (China)
Transportation Composites Market Regional Insights:
Major countries in each region are included in the report according to their revenue contribution to the Transportation Composites market. The study includes a region-wise detailed analysis of the Transportation Composites market. The regions are:
- North America
- Asia Pacific
- Europe
- Latin America
- the Middle East, and Africa
Key Questions answered in the Transportation Composites Market Report are:
- What are the sales, production, consumption, and import and export of Transportation Composites globally (North America, Europe, Asia-Pacific, South America, Middle East, and Africa)?
- Who are the major players in the Transportation Composites Industry on a worldwide scale?
- What is the state of business of Transportation Composites market players?
- What are the market opportunities and restraints for Transportation Composites suppliers in the Transportation Composites industry?
- Which application, end-user, or product category might be looking for new growth opportunities? What is each type’s and application’s Transportation Composites market share?
Key Offerings:
- Market Share, Size & Forecast by Revenue | 2021−2027
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by segments with their sub-segments and Region
- Competitive Landscape – Top Key Players and Other Prominent Players
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