Forged Composite Market Analysis | 2024-2030

“The Forged Composite Market value was US$ 121 million in 2023 and is likely to grow at a CAGR of 4.1% in the long run to reach US$ 163 million in 2030”.

Market Dynamics

Introduction

Forged composite is a unique material that differs significantly from traditional composites. Unlike traditional composites, which use continuous fibers woven into a fabric, forged composite is made from short, chopped fibers mixed with resin and then molded into shape under high pressure and heat. The process of making forged composite is similar to the process of metal forging. First, pieces of chopped fibers are spread across a mold. Then, the resin is impregnated into the fibers, and the mold is compressed using a power press.

The fiber pieces are positioned in multi-directional orientations to provide 3D strength. Next, the mold is heated to stimulate chemical reactions, causing the resin to cure and harden. After the curing process is complete, the molded component is removed from the mold and undergoes finishing processes such as chamfering, trimming, surface treatment, and polishing, depending on the application. This process results in a material with a random, marbled appearance, unlike the regular weave pattern of traditional fiber.

Sports cars utilize a range of carbon fiber composites, including forged composites. Examples include monocoque chassis, suspension, and seat supports, which are primarily structural components. Lamborghini concept cars have frequently incorporated such materials. The aerospace industry has long benefited from a wide range of carbon fiber products. Being light and highly moldable, they also find use in sporting equipment like golf and tennis.

Furthermore, due to its refined aesthetics, non-corrosive nature, skin-safe properties, low coefficient of thermal expansion, high dimensional accuracy, and water-proof nature, forged composite is being used in various lifestyle applications such as luxury watches and high-end mobile phone components and related accessories.

Recent Market JVs and Acquisitions

A huge number of strategic alliances including M&As, JVs, etc. have been performed over the past few years:

• In July 2024, AWA Forged Composites™ was shifted to Mitsubishi Chemical Corporation of Japan to enhance the company’s ability in the highly specialized forged composite for industrial use.
• In June 2024, Simply Carbon Fiber was acquired by ForgeLux based on the simulation done in this thesis. This acquisition seeks to complement its current line of products in luxury carbon fiber accessories for automobiles, specifically the forged products offered by ForgeLux.
• In June 2024, MANSORY partnered with Pagani Automobili to produce forged carbon fiber parts for premium automobiles as well as for car designs to optimize the weight of bodies and the design factor.
• In mid-2024, Creux Automatic teamed up with Roger Dubuis to integrate forged carbon parts into luxury watches.

Recent Product Development

• In February 2024, MANSORY unveiled new customization options for luxury vehicles, featuring extensive use of forged carbon fiber in exterior and interior components. This development focuses on aesthetics and performance enhancements for high-end vehicles.

Segments Analysis

By Resin Type

“Epoxy resin is expected to hold the largest share of the market during the forecast period”.

• The market is segmented into epoxy composite, vinyl ester composite, polyurethane composite, bismaleimide (BMI) composite, phenolic composite, and other composites.
• Epoxy resin is chemically balanced from a mechanical viewpoint since it exhibits high strength, stiffness, and bonding strength. It therefore becomes a material that can be applied universally in a variety of applications in the forged composite market. For instance, epoxy resin is applied to strengthen the carbon fiber layers to make forged composite parts for automobiles, bicycles, and sporting equipment.
• Epoxy resins have strong adhesive properties, ensuring a secure bond with carbon fibers. This enhances the overall integrity and performance of the forged composite.
• Epoxy resins have a manageable curing process, which can be tailored to suit different manufacturing techniques, such as compression molding used in forged composites.

By End-User Type

“Automotive is anticipated to be the dominant end-user type of the market during the forecast period”.

• The market is segmented into automotive, sports, consumer goods, industrial, and aerospace.
• The manufacturing process for forged composites allows for the creation of complex shapes and intricate designs that are difficult to achieve with traditional materials. In addition to that, the unique appearance of forged composites can be leveraged in both visible parts and interior designs, adding to the aesthetic value of the vehicle.
• High-performance and luxury vehicle segments often lead the way in adopting advanced materials, and forged composites provide the necessary performance and aesthetic characteristics.
• Forged composites offer a high strength-to-weight ratio, allowing for enhanced vehicle performance without compromising safety. The durability and rigidity of forged composites make them ideal for structural parts, improving overall vehicle dynamics.
• The compression molding process used for forged composites is faster and more efficient than traditional methods, reducing production time and cost.

Regional Analysis

“Europe is likely to be the largest market whereas North America is the fastest growing market during the forecast period”.

• Europe took the largest share of the said market for several reasons. The region’s automotive and aerospace engineering industries have a record of innovation and experience in the implementation of forged composite products. This provided forged composite development and adoption with a solid base and knowledgeable workforce in Europe, meaning that this region became one of the leaders in this sphere. Secondly, forcible emissions regulation norms in Europe make the use of forged composites inevitable to reduce overall emissions hence driving the overall market growth.
• Europe has a strong presence in the luxury automotive segment, which has been at the forefront of adopting advanced materials like forged composites for performance and aesthetic enhancements.
• Economic growth in countries like China and India has led to an expanding middle class with increased disposable income. This demographic is driving demand for premium sports equipment and consumer goods that incorporate advanced materials like forged composites.
• There is a growing interest in sports and fitness activities across Asia-Pacific, leading to a higher demand for high-quality sports equipment such as golf clubs, tennis rackets, and bicycles, which benefit from the lightweight and strong properties of forged composites.

Key Players

The market is partially fragmented across the region. Most of the major players compete in some of the governing factors including price, service offerings, regional presence, etc. The following are the key players in the Forged Composite Market:

Here is the list of the Top Players (Based on Dominance)

• Callaway Golf
• Forged Carbon (Tecalemit Group)
• Mansory Design & Holding GmbH
• Action Composites
• Innovative Composite Engineering Inc.
• Real Carbon Inc.
• Bulgari
• Modern Composites Ltd.

Note: The above list does not necessarily include all the top players in the market.

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Report Features

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.

What Deliverables Will You Get in this Report?

Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s forged composite market realities and future market possibilities for the forecast period. 
• The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• This report offers high-quality insights and is 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.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

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Company Profiling

• Detailed profiling of additional market players (up to three players)
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Competitive Benchmarking

• Benchmarking of key players on the following parameters: Service portfolio, geographical reach, regional presence, and strategic alliances

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