Demand For Closed Molding Composites Industry Is Projected To Top US$ 90 Billion By 2031

Fact.MR's closed molding composites industry analysis shows that the global market was valued at US$ 55 Bn in 2020, and is projected to top US$ 90 Bn by 2031, expanding at a CAGR of 6%. Demand for glass fiber composites is projected to surge and reach a valuation of US$ 45 Bn by 2031.

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A closed mould or vacuum bag that isolates it from the atmosphere is used in closed moulding composites, a type of automated heavy-set method of combining raw materials. This process consists of a number of environmentally friendly steps that lower emissions of volatile organic compounds.

The development of dependable and environmentally friendly moulding techniques that aid in reducing emissions of volatile organic compounds has been facilitated by the manufacturing of closed moulding composites using techniques like resin transfer moulding (RTM) and vacuum infusion.

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Key Takeaways from Market Study

Global closed molding composites market to top US$ 90 Bn by 2031.
Glass fiber composites projected to reach around US$ 45 Bn by 2031.
Carbon fiber composites projected to record above 4% CAGR over the next 10 years.
Market in Japan to record 3% CAGR over the forecast period of 2021- 2031.
China forecast to reach a projected market size above US$ 19 Bn by 2031.
Market in Canada projected to expand at above 4% CAGR over the next 10 years.

"Advancements in composites provide greater fatigue tolerance that helps in producing strong and lightweight components, which will pave the way for expansion of the closed molding composites industry in the years to come," says a Fact.MR analyst.

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What are the Growth Opportunities for Closed Molding Composite Providers across China?

1. Expansion into new markets: Closed molding composite providers can explore opportunities to expand their services into new markets, such as the automotive, aerospace, and marine industries.

2. Developing new products: Closed molding composite providers can develop new products that meet the needs of their customers in different industries. This could include developing custom-made parts or components for specific applications.

3. Investing in research and development: Closed molding composite providers can invest in research and development to stay ahead of the competition and create innovative solutions for their customers.

4. Leveraging technology: Closed molding composite providers can leverage technology to improve their processes and increase efficiency. This could include investing in automation or using 3D printing to create custom parts or components quickly and cost-effectively.

5. Establishing partnerships: Closed molding composite providers can establish partnerships with other companies in the industry to share resources and knowledge, as well as gain access to new markets or technologies.

Key Segments Covered in Closed Molding Composites Industry Research

Fiber

Glass Fiber Closed Molding Composites

Carbon Fiber Closed Molding Composites

Natural Fiber Closed Molding Composites

Aramid Fiber Closed Molding Composites

Process

Vacuum Infusion & Bagging
Compression Molding
Injection Molding
Resin Transfer Molding

Application

Closed Molding Composites for Transportation
Closed Molding Composites for Aerospace & Defense
Closed Molding Composites for Wind Energy
Closed Molding Composites for Electrical & Electronics

Closed Molding Composites for Construction
Key Companies

A. Schulman, Inc.
Royal Tencate N.V.
Polynt S.P.A
Exel Composites
Core Molding Technologies, Inc.
Strongwell Corporation
Menzolit GmbH
Continental Structural Plastics, Inc.
Saertex
GKN Aerospace
Huntsman Corporation
Gurit Holding AG
Scott Bader Co. Ltd.

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