Composite Process Materials Market projected to grow at a healthy CAGR of 6.0% in the forecast period (2019-2024)

Stratview Research’s report states about the segment-wise current market condition, and also offers an estimation about future growths. The report has been generated after accumulating data from various authenticated sources such as journals, white papers, fact book, etc. As per the estimation, Composite Process Materials Market is expected to inflate at impressive CAGR by the forecast period (2019-2024).

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Highlights of the Report:
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.

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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. As composite materials are witnessing a greater penetration in the latest aircraft, the demand for automation in the manufacturing processes is also raising. Process materials become necessary in most of the processes through which composite parts are made for the A&D industry. The automotive industry is projected to witness the highest growth in the same period, driven by increasing penetration of composites in automobiles to enhance fuel efficiency for achieving stringent government regulations, such as CAFÉ standards.

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 increasing production of composite-rich aircraft with high prepreg usage, rising wind turbine installations with increased blade length, and surge in the penetration of advanced composites in structural applications of automobiles, are the major driving factors for process materials in prepreg manufacturing.

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. Release liners are used during prepreg manufacturing as well as composite parts manufacturing through the VARTM, prepreg layup/vacuum bag, press molding, bladder molding, wet layup, etc. Also, the release liner can be used only once for making parts, which will result in its repeated demand and higher growth rate as compared to vacuum bagging films.

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. The region is also the hub of prepreg manufacturing with the presence of almost all major prepreg manufacturers.

Europe is anticipated to grow at the highest rate in the market in the coming five years. Asia-Pacific is also likely to grow at a healthy pace in the composite process materials market in the years to come.

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.

Features of the Report
Here are the key features of the report:
• Strategic Segmentation
• Competitive Analysis
• Strategic Growth Opportunities
• Swot Analysis
• Key Players
• Forecast Analysis & Future Growth

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This release was published on openPR.