The Market of Composite Process Materials is to grow at CAGR 6.09% by 2024

The new report of Stratview Research analyses the Composite Process Materials Market over the trend period from 2013 to 2018 and forecast period from 2019 to 2024. The insights of the report shall enable informed decision making and strategy formulation for the near future to capitalize on the opportunities.

Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
• Strategic segmentation
• Market analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Detailed Competitive Rivalry landscaping
• Market trend and forecast analysis
• Future Growth Boulevards

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Composite Process Materials Market: The Growth Prognosis & its Drivers
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.

Market Segments
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.

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 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.

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.

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.

Market Players
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.

Comprehensive Market Coverage
Click here for other reports from Stratview Research in the Advanced Materials Industry:
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This release was published on openPR.