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Composites Market to depict appreciable growth prospects over 2019-2025

01-27-2020 01:01 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: global market insights

Composite Market

Composite Market

Based on the fibre type Composite Market size can be segmented into; carbon fibres, fiberglass, aramid fiber & others. Carbon fibres have excellent tensile strength and resistance to temperatures, these mentioned properties make it desirable for the application in the aerospace and defence sector. On the other hand, fiberglass is nonconductive but not strong as carbon fibre making it suitable for the broadcast and transmission application.

Based on the resin type the Composite Market size is classified into; thermoplastics, thermosetting & others these are polymers used in fibre reinforced composites. Thermoplastic composites have low density, good toughness & strength and ability to remoulded. Thermoset composites are light in weight and have corrosion resistance making it suitable for the application in the marine, material handling, automobile & aerospace industry verticals.

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Global Composite Market size is witnessing a decent growth and is expected to follow the trend over the forecast spell. The major application of the composites is in the industries such as aerospace and defence, infrastructure, automobile, energy, pipe, and tank & marine.

Population growth attracts huge investments in the infrastructure, automobile, energy and aerospace and defence sector which will drive the Composite Market size in the forecast timeframe. Product possesses properties like high strength to weight ratio, high fatigue resistance, resistance to chemicals, thermal insulating properties, high impact strength which makes it suitable for the above-mentioned industries.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

o SGL Group
o Hexcel Corporation
o Huntsman Corporation
o Tensar International Corporation
o Toray Industries
o Inc.
o Tenjin Limited
o Owens Corning
o Jushi Group
o Oray Industries Inc.
o Kononklijke Ten cate

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Based on manufacturing process, the Composite Market is classified into five categories; layup, spray-up, filament winding, pultrusion, resin transfer moulding, and others. In layup process the reinforcements are cut into desired size and then impregnated with wet matrix material and laid over a mould with a releasing agent. Pre-impregnated reinforced material is also present which is primarily used in manufacturing process of composites in aerospace industry.

Asia Pacific constituted a major chunk of the overall Composite Market share in 2017. This is mainly attributed to strong product demand from aerospace & defence, infrastructure and automobile sector. Asia Pacific witnessed the largest infrastructure spending which was valued approximately over USD 40.0 billion i.e. 59% of the global infrastructure spending in 2017. Product is extensively used in infrastructure industry for retrofitting of structure and as reinforcing materials in repair. FRP (Fibre Reinforced Plastic) are now used in bridge decks.

Browse Complete Report Summary @ https://www.gminsights.com/industry-analysis/composites-market

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Contact Person: Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
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Email: sales@gminsights.com
Web: https://www.gminsights.com

About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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