Composite Vacuum Consumables Market projected to reach US$ 656.3 million 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 Vacuum Consumables Market is expected to inflate at impressive CAGR by the forecast period (2019-2024).

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Highlights of the Report:
The global composite vacuum consumables market is expected to experience a healthy growth rate over the next five years to reach US$ 656.3 million in 2024, propelled a host of factors including an increasing penetration of prepreg materials in the aerospace & defense and automotive industries, recovering marine market, and a sustainable growth in the wind energy.

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Market Segments:
There are many composite manufacturing processes where vacuum consumables play a crucial role in parts manufacturing, such as prepreg lay-up (autoclave and oven), vacuum-assisted resin transfer molding (VARTM), wet lamination, and glass laminating. Prepreg layup process is expected to remain the most dominant application of composite vacuum consumables in the next five years, driven by the Aerospace & Defense and transportation industries. Prepreg layup process offers several benefits including an ability to fabricate complex parts, high mechanical strength, high-temperature resistance, and excellent fatigue strength. VARTM is another process that also holds a considerable share of the market and is the process of choice for fabricating large-sized components with complex structure. The process is widely preferred in the wind energy for manufacturing longer wind turbine blades and in the marine industry, for manufacturing boat’s hull and deck. It is also preferred in the automotive industry for manufacturing structural parts.

Based on the end-use industry type, the market is segmented into Aerospace & Defense, Wind Energy, Marine, Transportation, and Others. Aerospace & defense is expected to remain the largest segment of the composite vacuum consumables market during the forecast period. High use of prepreg lay-up process for manufacturing structural composite components is the prime driver of the higher demand for vacuum consumable in the aerospace & defense industry. The next-generation aircraft, such as B787 and A350XWB, contain about 50% composites of the total structural weight of the aircraft in which the majority is manufactured through prepreg material.

The transportation segment is expected to experience the highest growth for the same period. The stringent government regulations are forcing auto OEMs to incorporate advanced lightweight materials in the structural areas of an automobile. This trend is driving composite penetration, especially in electric vehicles and premium vehicles, to enhance fuel efficiency and to achieve stringent government regulations, such as CAFÉ standards.

Based on the regions, North America is expected to remain the largest market for composite vacuum consumables during the forecast period. The region is the world’s capital of composites manufacturing with the presence of several small- to large-sized composite part molders. It is the largest composites market for aerospace & defense, transportation, and marine industries and is also one of the leading wind composite markets. These all four markets will continue to generate a healthy demand for vacuum consumables in the region in the coming years.

Asia-Pacific is likely to be the fastest-growing market for composite vacuum consumables for the same period. High growth of composites, a gradual shift of manufacturing base from the developed economies to the developing Asian economies, the formation of a large number of strategic alliances with the Asian companies to set up their facilities in this region, and upcoming indigenous commercial and regional aircraft are some of the key whys and wherefores behind the massive growth in the Asia-Pacific region. China, Japan, and India are expected to remain the growth engines of the Asia-Pacific’s market.

Market Players:
The supply chain of this market comprises raw materials suppliers, film suppliers, vacuum consumable manufacturers, distributors, part molders, OEMs, and end-users. The global composite vacuum consumable is a highly consolidated market. The key Composite vacuum consumables manufacturers are Airtech Advanced Materials Group, Solvay S.A. (Umeco Plc), and Diatex S.A. New product development, regional expansion, and the formation of long-term relationships with prepreg manufacturers are the key strategies adopted by the key 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.