‘Composite Preforms Market to become US$ 350.1 million opportunity in 2023’– Stratview Research Market Report

As per the latest market intelligence report published by Stratview Research, the Composite Preforms Market is anticipated to reach at US$ 350.1 million by 2023.

The research studies Composite Preforms Market in the trend period of 2012 to 2017 and forecasted period of 2018 to 2023 under five segments by End-Use Industry Type (Aerospace & Defense, Automotive, Consumer Goods, Infrastructure, Medical, Marine, and Others), by Fiber Type (Glass Fiber, Carbon Fiber, and Others), by Product Type (Braiding, Weaving, Stitching, and Knitting), by Structure Type (One-D, Two-D, and Three-D), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2018-2023

The study finds –
 North America is expected to remain the dominant market for composite preforms during the forecast period.
 The automotive segment is likely to witness the highest growth during the forecast period, driven by an increasing penetration of composites into the structural sections of vehicles coupled with a greater demand for composite preforms to shorten part cycle time.
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Composite Preforms Market: Highlights
The global composite preforms market offers a healthy growth opportunity over the next five years and will reach an estimated value of US$ 350.1 million in 2023. Increasing usage of composite materials in the aerospace and automotive industries, advancements in the preform technology, its ability to develop complex parts, excellent product strength, and shortened cycle time are some of the major factors that are proliferating the growth of the composite preforms in various end-use industries.
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The global composite preforms market is segmented based on the end-use industry type as Aerospace & Defense, Automotive, Consumer Goods, Infrastructure, Medical, Marine, and Others. Aerospace & defense is expected to remain the most dominant segment of the composite preforms market during the forecast period, driven by an increased usage of preforms in turbofan engines of commercial aircraft. The material type is likely to gain more acceptance in the industry over the next five years.

The automotive segment is likely to witness the highest growth during the forecast period, driven by an increasing penetration of composites into the structural sections of vehicles coupled with a greater demand for composite preforms to shorten part cycle time. Composite preform can be used to fabricate high-performance composite parts for the automotive industry, but most of the automakers have disowned it, owing to automakers’ perception regarding its high cost and their change-averse culture.

Over the last ten years, governments of many countries have imposed stringent regulations on the automotive industry by setting up targets related to vehicle’s fuel efficiency and carbon emission, which compelled auto OEMs to look for the best alternatives for achieving those targets. Composite preform is one of the best options for achieving those targets. Currently, many OEMs are heavily betting on composite preforms technology through High-Pressure Resin Transfer Molding (HP-RTM) process in structural applications of their mass-produced vehicles.
North America is expected to remain the dominant market for composite preforms during the forecast period, driven by the presence of major preform suppliers, composite part fabricators, aero-engine manufacturers, and OEMs. Europe is projected to witness the highest growth during the forecast period, driven by an expected increase in the production rates of A350XWB and A320 aircraft programs.

The supply chain of this market comprises raw material manufacturers, composite preform manufacturers, part fabricators, aero-engine manufacturers, and OEMs. The key aerospace OEMs are Boeing, Airbus, Lockheed Martin, Embraer, and Bombardier, whereas the key aero-engine manufacturers are CFM, GE Aviation, and Pratt & Whitney, and the key automotive OEMs are BMW, GM, Toyota, and Ford Motors.

The key composite preform manufactures are A&P Technology, SGL Kumpers GmbH, Sigmatex (UK) Ltd., Bally Ribbon Mills, Saertex GmbH & Co. KG, Highland Composites, Fabric Development Inc. and Compsys Inc. New product development, regional expansion, and joint product development with customers are the key strategies adopted by some of the major players to gain a competitive edge in the market.

Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum input to the entire value chain of BMI Prepreg. The key features of the report are -
 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.

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This release was published on openPR.