Stratview Research announces the launch of a new research report on Composite Textiles Market by Reinforcement Type (Glass Fiber Textiles and Carbon Fiber Textiles), by Product Type (Woven Textiles, Woven Yarn, Multi-Axials, and CFM/CSM), by End-Use Industry Type (A&D, Marine, Transportation, Construction, Consumer Goods, Electrical & Electronics, Pipe & Tank, Wind Energy, and Others), by Process Type (Hand Layup, Resin Infusion, Pultrusion, Prepreg Layup, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2021-2026.
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s composite textile market realities and future possibilities for the forecast period of 2021 to 2026. After a continuous interest in our glass fiber textiles market, carbon fiber textiles market, multi-axials market, and non-woven textiles market report, we have tried to further expand our research scope to the composite textiles market. The report estimates the short- as well as long-term repercussions of the COVID-19 pandemic on the demand for composite textiles at the global, regional, as well as country level. Also, the report provides the possible loss that the industry will endure by comparing pre-COVID and post-COVID scenarios. 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 Textiles Market: Highlights from the Report
Composite textiles are becoming an inherent part of the textiles industry with their growing eminence across major end-use industries. There are more than 50 global and regional players, engaged in supplying composite textiles with a few players holding a distinct position in the market. Composite textiles have gained significant interest as structural materials in many end-use industries owing to their value proposition and their unique combination of damage tolerance, delamination, and free and complex shape formability.
Impact of COVID-19
The COVID-19 outbreak recorded a massive downturn in the composite textiles market, wrecking the hopes of another successful year in 2020. Nevertheless, the long-term scenario still seems lucrative, backed by strong industry fundamentals coupled with the stakeholders’ unmatched ability to strive through the crisis. The composite textiles market is likely to follow suit, moving parallelly with the industry’s rebound, experiencing a gradual revival in demand from 2021 onwards. The sudden outbreak of COVID-19 panicked the market players, bringing in unsought changes in the business.
Disruption in the supply chain, delay in B737 Max approval, hefty decline in the production of automotive and rails, halt in the construction activities and production of consumer goods are some key pandemic-related factors affecting the market. Stratview Research believes that the market is expected to rebound in the next five years with a healthy CAGR to reach a value of US$ 7.1 billion in 2026.
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Based on the product type, the market is segmented into woven textiles, woven yarn, multi-axials, and Continuous Strand Mat (CSM)/Continuous Filament Mat (CFM). Woven yarn is expected to remain the most dominant product type in the market. There is a huge dominance of woven yarn in the electrical and electronics (E&E) industry, primarily used for making PCB laminates. Woven textile is also subjected to maintain its strong presence in the market in the coming five years, driven by increased usage in cost-sensitive applications.
Based on the end-use industry, wind energy is expected to maintain its dominant position in the market for the forecast period. Despite the market environment, wind energy flourished at an impressive rate in 2020. Multi-axial fabrics are a choice of material in the wind energy segment, used to manufacture wind blades (blades). The Electrical & Electronics segment also accounts for sizeable market demand, close to the wind energy segment.
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Among regions, Asia-Pacific is estimated to hold the lion’s share in the market during the forecast period. China alone registers more than one-third of the global sales in 2020. High penetration of the wind energy industry in China has partially offset the overall market decline in the country. North America is expected to remain the second-largest market during the forecast period. The USA acts as a growth engine of the region with the presence of key suppliers, OEMs, and tier players. Among all regions, Europe is the worst-hit region by the pandemic in 2020; however, the demand in the region is estimated to resuscitate in the coming years.
The supply chain of this market comprises raw material suppliers, composite textile manufacturers, tier players, OEMs, and end-users. Key composite textile manufacturing companies are Owens Corning, China Jushi Co., Ltd., SAERTEX GmbH & Co. KG, Toray Industries, Inc., Kingboard Laminates Holdings Limited, Sinoma Science & Technology Co., Ltd., Taiwan Glass Group, Nitto Boseki Co., Ltd., and Chongqing Polycomp International Corp. (CPIC).
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 on 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:
This report studies the global composite textiles market and has segmented the market in five ways, keeping in mind the interest of all the stakeholders across the value chain. Following are the five ways in which the market is segmented:
Composite Textiles Market, By Reinforcement Type
Composite Textiles Market, By Product Type
Composite Textiles Market, By Process Type
Composite Textiles Market, By End-Use Industry
Composite Textiles Market, By Region
Stratview Research has several high value market reports in the composites and advanced materials industry. Please refer to the following link to browse through our reports:
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We have a strong team of industry veterans and analysts with an extensive experience in executing custom research projects for mid-sized to Fortune 500 companies, in the areas of Market Assessment, Opportunity Screening, Competitive Intelligence, Due Diligence, Target Screening, Market Entry Strategy, Go to Market Strategy, and Voice of Customer studies.
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