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    Composite Laminates Market | Detailed COVID-19 Impact Assessment | Covid-19 Impact Analysis

    Composite Laminates Market | Detailed COVID-19 Impact Assessment | Covid-19 Impact Analysis

    Composite Laminates Market | Detailed COVID-19 Impact Assessment | Covid-19 Impact Analysis
    Report code - SRAM322 Published On : Jun,2020 No. of Pages: 237
    Composite Laminates Market by End-Use Industry Type (Building & Construction, Recreati See more...
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    Impact of COVID-19 on Composite Laminates Market

    Covid-19 has impacted the market dynamics, competition, and global...

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    Impact of COVID-19 on Composite Laminates Market

    Covid-19 has impacted the market dynamics, competition, and global supply chains. The revenues has gone down in 2020 and may resume an uptrend gradually form 2021. Companies optimizing their operation and strategy will sustain and beat the competition.

    Note: The summary below might not have included insights on covid impact since we have large number of reports.

    This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s composite laminates market realities and future possibilities for the forecast period of 2020 to 2025. The report estimates the short- as well as long-term repercussions of the COVID-19 pandemic on the demand for composite laminates 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 scenario. The vital data/information provided in the report can play a crucial role for market participants as well as investors in formulating short-term as well as long-term growth strategies.

    Composite Laminates Market: Highlights

    Composite laminate is made by impregnating reinforcement fiber with thermoset or thermoplastic resins via a continuous or discontinuous lamination process. It is used in a wide range of applications, owing to its various benefits, such as durability, lightweight, mold resistance, high strength-to-weight ratio, easy to clean, high moisture resistance, chemical resistance, low maintenance, high impact resistance, and easy installation.

    Composite laminates hold a diminutive share (about 1%) of the overall composite end-products market, as it has a very unique manufacturing process and requires technical know-how to enter into the market. Key market participants have gained excellent product development capabilities and high brand identity after dedicating eons of efforts in research and market presence. Today, manufacturing composite laminates for different industries is a tortuous job, owing to high technological requirements coupled with the high cost of raw materials, a key factor limiting the number of suppliers active in the market.

    Impact of COVID-19 on the Composite Laminates Market

    The composite laminates market declined over the past five years (2014-2019), majorly due to the decline in the North American RV’s shipments due to the impact of the US-Sino Trade war in 2018-2019 and industrial recession in 2014-2015. While the market was looking for a recovery in the year 2020, the pandemic deepened the existing market challenges, such as declining shipment trends of RVs, especially in North America. A huge decline in construction activities due to the lockdown in several countries has further propagated the worsening market conditions.  Also, according to International Monetary Fund (IMF), there will be an estimated cumulative loss of US$ 9 trillion in the global economy for the year 2020 and 2021, a key indicator that signposts huge impact on the growth of the major end-use industries including building & construction and recreational vehicles.

    It is difficult to state that when the impact of the pandemic starts to fade away. However, it is predicted that the demand for composite laminates would stabilize in 2021. Further, it is anticipated that the market will gradually recover from 2022 onwards, following a similar trendline registered during the great recession; however, the recovery may take a longer time than the ones taken during the great recession. It is estimated that the composite laminates market to marginally cross its 2019-sales figure by touching US$ 1.0 billion sales in 2025.

    Changing lifestyle trends, expected increase in outdoor participation, and expected recovery in global GDP, are the major factors that will help major industries to recover during the forecast period. Apart from them, increasing penetration of composite laminates into various end-use industries owing to its excellent benefits is likely to propel the overall five-year growth (CAGR) at a healthy rate, taking the market to the value of US$ 1.0 billion in 2025, imprinting healthy growth opportunities for the market participants as well as investors in the long run.

    It becomes extremely crucial for the market participants to target the right applications/products to pass over this depressing environment. Some of the factors, which may provide some breath to companies, including a paradigm shift from the traditional usage of materials to composites, development of green technologies, and advancements in composite laminates to cater to emerging market trends, such as electrification and autonomous driving in the transportation industry.

    Market Share Analysis

    Based on the end-use industry type, the composite laminates market is segmented into building & construction, recreational vehicle, transportation, and others. Building & Construction is expected to remain the largest as well as the fastest-growing segment of the market during the forecast period.  Composite laminates are marking an increased presence by replacing most of their arch-rival materials including PVC, aluminum, and finished gypsum. All the major players have a vast product portfolio for targeting applications of the building & construction industry.

    Recreational vehicles and transportation are other two major markets, occupying sizeable demand for composite laminates. Like building & construction, the outbreak of the pandemic is leaving a huge impact in these two major markets too. Composite laminates have been the most preferred product among competing materials in recreational vehicles and have been gaining momentum in the transportation industry.

    This segment to record a huge variation in market dynamics in pre-COVID and post-COVID pandemic circumstances. Further, the development of next-generation recreational vehicles’ exterior sidewall panels, in 2019, by crane composites and expected recovery of RV shipments propelling the recreational vehicle market over the long-run.

    Based on the matrix type, the market is segmented into thermoset composites and thermoplastic composites. The thermoset composites market segment is further broken down into polyester and other thermosets. Thermoset composite is expected to remain the larger segment, whereas thermoplastic composite is likely to recover at a faster pace from 2021 onwards. Polyester composite held the major share in 2019, owing to its low cost and adequate performance required in the major end-use industries including building & construction and recreational vehicles.

    In terms of region, North America is expected to remain the largest market during the forecast period. However, the impact of COVID-19 in the North American region is more prolonged than in other regions. It has been also anticipated that in the long run, the region will bounce back because of the strong supply chain in the USA. Asia-Pacific, a relatively small market, is projected to witness excellent growth after 2021. Building & construction is expected to drive the demand for composite laminates in the region. China, Japan, Australia, and India are projected to be the growth engines of the region’s market.

    Key Players

    The supply chain of this market comprises raw material suppliers, composite laminates suppliers, distributors, tier players, OEMs, RV manufacturers, and government and local authorities. The key players in the composite laminates market are Crane Composites, LAMILUX Heinrich Strunz Holding GmbH & Co. KG, Stabilit {America, Europa, and Suisse}, Brianza Plastica S.p.A., Vetroresina SpA, U.S. Liner Company (Uslco), Optiplan GmbH, Panolam Industries International, Inc., and Polser Fiberglass Reinforced Plastics Inc. The formation of long-term contracts, new product developments, and strategic alliances are the key strategies adopted by major players to gain a competitive edge in the market.

    Research Methodology

    Our reports offer high-quality insights and are 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 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.      

    Report Features

    This report provides market intelligence most comprehensively. 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:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
    • Market trend and forecast analysis
    • Market segment trend and forecast
    • Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
    • Attractive market segments and associated growth opportunities
    • Emerging trends
    • Strategic growth opportunities for the existing and new players
    • Key success factors

     

    The composite laminates market is segmented into the following categories. 

    Composite Laminates Market, By End-Use Industry Type:

    • Building & Construction (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Recreational Vehicle (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Transportation (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Composite Laminates Market, By Matrix Type:

    • Thermoset Composites
    • Regional Analysis: North America, Europe, Asia-Pacific, and RoW
    • Resin Type Analysis: Polyester and Others
      • Polyester (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
      • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Thermoplastic Composites (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Composite Laminates Market, By Reinforcement Type:

    • Glass Composites (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Carbon Composites (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Composite Laminates Market, By Process Type:

    • Continuous Lamination Process (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Discontinuous Lamination Process (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Composite Laminates Market, By Region:

    • North America (Country Analysis: The USA, Canada, and Mexico)
    • Europe (Country Analysis: France, Germany, The UK, and Rest of Europe)
    • Asia-Pacific (Country Analysis: China, Japan, Australia, and Rest of Asia-Pacific)
    • Rest of the World (Sub-Region Analysis: Latin America, The Middle East, and Others)

     

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Competitive Assessment

    • Competitive Benchmarking of key players (up to 3 players)
    • SWOT analysis of key players (up to 3 players)

    Regional Segmentation

    • Current market size (2019) of composite laminates in any end-use industry types by process type.

    Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected].


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