Composite Process Materials Market | Industry Analysis 2019-24
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 2019 to 2024. After conducting comprehensive studies on composite vacuum consumables and composite release liners, we have further expanded our portfolio with first of its kind study on the composite process materials market in order to provide a panoramic view of the market. 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 the low-hanging fruits available in the market as well as to formulate the growth strategies in order to expedite their growth process.
The Composite Process Materials Market: Highlights
The global process materials market in the composites industry is projected to grow at a healthy CAGR of 6.0% during the forecast period. Higher usage of composite materials in the next-generation aircraft, such as B787, A350XWB, and A220 with an increased penetration of prepreg materials; increasing penetration of composite materials in the automotive industry, mainly in luxury and electric vehicles with an increased demand for the infusion and prepreg layup processes; and sustainable growth in wind energy are giving an impetus to the demand for process materials in the composites industry.
The composite process materials market is firstly segmented based on the end-use industry type as aerospace & defense, wind energy, transportation, marine, and others. A&D has been the biggest user of advanced composites as most of the composite parts are made of carbon fiber epoxy composites in the form of prepreg in the industry. As composite materials are witnessing a greater penetration in the latest aircraft, the demand for automation in the manufacturing processes is also raising. Process materials become necessary in most of the processes through which composite parts are made for the A&D industry. The automotive industry is projected to witness the highest growth in the same period, driven by increasing penetration of composites in automobiles to enhance fuel efficiency for achieving stringent government regulations, such as CAFÉ standards.
The composite process materials market is segmented based on the application type as prepreg manufacturing, infusion process, prepreg layup process, and others. Over the next five years, prepreg manufacturing is expected to remain the most dominant application of process materials in the composite industry. The increasing production of composite-rich aircraft with high prepreg usage, rising wind turbine installations with increased blade length, and surge in the penetration of advanced composites in structural applications of automobiles, are the major driving factors for process materials in prepreg manufacturing.
The composite process materials market is segmented based on the material type as vacuum bagging film, release liner, peel ply, breathers & bleeders, and others. The release liner is estimated to remain the largest and the fastest-growing material type in the composite process materials market over the next five years. Release liners are used during prepreg manufacturing as well as composite parts manufacturing through the VARTM, prepreg layup/vacuum bag, press molding, bladder molding, wet layup, etc. Also, the release liner can be used only once for making parts, which will result in its repeated demand and higher growth rate as compared to vacuum bagging films.
Paper is the most preferred backing material type for release liners in the composites industry because of its excellent mechanical resistance and good caliper profile. The most widely used papers for composites are super-calendered kraft paper (also known as glassines) and clay-coated kraft paper. Also, there is significant use of polyolefin-based release liners in prepreg manufacturing in the wake of its excellent compatibility with epoxy resins.
In terms of region, North America is expected to remain the largest market for composite process materials during the forecast period. The region is the world’s manufacturing capital of advanced composites manufacturing with the presence of many big to small composites part molders. The region is also the hub of prepreg manufacturing with the presence of almost all major prepreg manufacturers.
Europe is anticipated to grow at the highest rate in the market in the coming five years. Increasing production rates of the key commercial aircraft such as A320 and A350XWB, rise in the number of wind turbine installations, and the presence of several luxury car manufacturers with continuously increasing composites content are driving the European composite process materials market.
Asia-Pacific is also likely to grow at a healthy pace in the composite process materials market in the years to come. High growth of composites, upcoming indigenous commercial and regional aircraft and shift of prepreg plants to Asia are some of the key whys and wherefores behind the higher growth in the Asia-Pacific's market. China and India are expected to remain the growth engines of the Asia-Pacific market.
The supply chain of this market comprises raw material suppliers, film suppliers, process material manufacturers, distributors, prepreg manufacturers, part molders, OEMs, and end-users. The key composite process material manufacturers are Airtech Advanced Materials Group, Solvay S.A., Mondi Plc, Loparex LLC, Wausau Paper, Lintec Corporation, and Gascogne Laminates. New product development, regional expansion, and long-term relation with customers are some of the key strategies adopted by the major players to gain a competitive edge in the market.
This report offers high-quality insights and is the outcome of 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. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles, have been leveraged to gather the data. We conducted 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.
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:
The composite process materials market is segmented into the following categories.
Composite Process Materials Market by End-Use Industry Type:
Composite Process Materials Market by Material Type:
Composite Process Materials Market by Application Type:
Composite Process Materials Market by Region:
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