Composite Process Materials Market Growth Analysis | 2021-2026
Composite Process Materials Market Size, Share, Trends, Dynamics, Forecast, & Growth Analysis- 2021-2026.
The composite process materials market was estimated at USD .78 billion in 2020 and is likely to grow at a CAGR of 7.3% during 2021-2026 to reach USD 1.15 billion in 2026.
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Generally, process materials are considered waste as these materials are waste once composite parts are fabricated or prepreg is laid onto the mold. However, Stratview Research considers these materials as ‘Process Efficiency Enhancers’ which play a critical role in achieving the requisite performance of composite parts.
Process materials are used at two different levels: release liners used during prepreg manufacturing, and vacuum consumables used during composite parts manufacturing through manufacturing processes such as VARTM, Lite-RTM, prepreg layup/vacuum bag, and wet layup. Process materials consist of several materials including vacuum bagging film, release liner, peel ply, breathers & bleeders, flow media, sealant tapes, fittings & hoses, etc.
Vacuum consumables perform a major function of reducing surplus air and resin from the laminate and optimizing the fiber-resin ratio which results in improved performance and reduced VOC emissions. The demand for process materials in the composites industry is highly subjected to the performance of major end markets such as aerospace, wind energy, marine, and automotive.
The impact of the COVID-19 pandemic on the demand for process materials varies from industry to industry. For instance, aerospace & defense emerged to be the biggest victims with demand falling over 30% in 2020. On the other hand, the wind energy industry flourished with a robust growth of mid-teens in 2020 propelled by huge wind turbine installations in China and the USA. Furthermore, the exceptional growth in the wind energy segment has partially offset the decline enumerated in other markets (aerospace & defense, transportation, and marine).
Composite Process Materials Market Highlights
Market Size in 2020
USD 0.78 billion
Market Size in 2026
USD 1.15 billion
Market Growth (2021-2026)
Base Year of Study
By End-use Industry Type (Aerospace & Defense, Wind Energy, Marine, Transportation, and Others),
By Material Type (Vacuum Bagging Film, Release Liner, Peel Ply, Breathers & Bleeders, and Others),
By Application Type (Prepreg Manufacturing, Prepreg Layup, Infusion Process, and Others),
By Region (North America, Europe, Asia-Pacific, and the Rest of the World).
The supply chain of this market comprises raw material suppliers, composite process material manufacturers, intermediate product manufacturers, molders, and end-users/OEMs.
The key composite process materials manufacturers are-
Stratview Research has first segmented the composite process materials market based on the end-use industry type as aerospace & defense, wind energy, marine, transportation, and others. Aerospace & defense is expected to remain the largest segment of the market over the next five years. Although the segment has been severely hit by the pandemic, it is likely to maintain its supremacy driven by a host of factors including an expected recovery in aircraft production, increasing penetration of composites in the modern aircraft programs (B787, A350XWB, and A220), high dominance of prepreg materials in the aerospace composites; and growing demand for the automation in the manufacturing processes. Wind energy also holds a reasonable share of the market and has been gaining traction over the past few years. It was the only segment that witnessed growth amid the COVID-19 pandemic.
Based on the material type, the composite process materials market is segmented as vacuum bagging film, release liner, peel ply, breathers & bleeders, and others. The release liner is estimated to maintain its huge dominance in the market and is also expected to experience the quickest recovery during the forecast period. SCK paper-based release liner held a strong dominance in the market. The vacuum bagging film segment also offers sizable opportunities in the market.
Based on the application type, the market is segmented as prepreg manufacturing, prepreg layup, infusion process, and others. Prepreg manufacturing is estimated to remain the largest segment of the market and is also expected to experience the highest growth over the next five years. Key drivers are increasing penetration of composites in modern aircraft programs (having high usage of prepreg), impressive growth in wind turbine installations coupled with the trend of large-sized blades, and the emergence of advanced composites in the automotive industry.
In terms of regions, North America is expected to remain the largest market over the next five years. The region has been the pioneer in the advanced composites industry with the presence of several small to large-sized OEMs, molders, process material suppliers, and raw material suppliers. Asia-Pacific is expected to be the fastest-growing market in the post-pandemic market developments. China is the workhorse of the region, driving the region’s share significantly.
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This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.
The market is segmented into the following categories.
By End-Use Industry Type
By Material Type
By Application Type
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For calculating the market size, our analysts follow either Top-Bottom or Bottom-Top approach or both, depending upon the complexity or availability of the data points. Our reports offer high-quality insights and are the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
We leverage a multitude of authenticated secondary sources, such as company annual reports, government sources, trade associations, journals, investor presentations, white papers, and articles to gather the data.
More than 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts are usually executed to obtain both qualitative and quantitative insights.
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s composite process materials market realities and future market possibilities for the forecast period of 2021 to 2026. After a continuous interest in our Composite Vacuum Consumables Market and Composite Release Liner Market Reports, we have come up with another comprehensive study on the composite process materials market.
The report estimates the short as well as long-term repercussions of the COVID-19 pandemic on the demand for composite process materials market at the global, regional, as well as country level. Also, the report provides the possible loss that the industry will register by comparing pre-COVID and post-COVID scenarios. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of low-hanging fruits available in the market as well as formulating growth strategies.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
No. of Figures & Tables
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The market size is expected to reach US$ 1.15 billion.
Airtech Advanced Materials Group, Diatex S.A, Gascogne Group, Lintec Corporation, Loparex LLC, Mondi Plc, Precision Fabrics Group, Sappi Limited, Solvay SA, The 3M Company, Wausau Paper (Part of Essity) are among the key players in the market.
North America is expected to remain the largest market during the forecast period.
Asia-pacific is expected to be the fastest growing market in the coming five years.
Prepreg manufacturing is expected to experience the highest growth in the market during the next five years.
The release liner is expected to remain dominant material type in the market in the coming years.