Epoxy Composite Market Size, Global Share and Report Insights 2023-2028

How Big Is the Epoxy Composite Market?

The global epoxy composite market size reached US$ 32.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 46.4 Billion by 2028, exhibiting a growth rate (CAGR) of 6% during 2023-2028.

Industry Overview of Epoxy Composite Market

Epoxy composites are advanced materials crafted by combining epoxy resin to form a robust polymer matrix, which is then fortified with fibers or other additives. This unique blend results in components known for their remarkable strength-to-weight ratio. Various manufacturing techniques are employed to create epoxy composites, including hand layup, compression, filament winding, and injection resin and resin molding processes. In contrast to conventional construction materials like metal and concrete, epoxy composites possess a lightweight nature and offer flexibility, cost-efficiency, exceptional adhesion, and outstanding resistance to environmental factors such as ultraviolet (UV) radiation, chemicals, and heat. These inherent qualities serve as a protective shield against deterioration, making epoxy composites highly versatile and widely applied in diverse industries including aerospace, defense, automotive, electrical and electronics, marine, wind energy, and piping, among others.

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Global Industry Trends and Drivers:

The epoxy composite market is experiencing substantial growth, driven by its increasing adoption in load-bearing applications within diverse industries, including automotive, aerospace, oil and gas, and construction. This popularity can be attributed to its exceptional adhesive properties, enhanced mechanical characteristics, resistance to heat and solvents, and cost-efficiency. Furthermore, the wind energy sector is contributing significantly to market expansion, as epoxy composites are increasingly sought after for manufacturing and coating various components. Moreover, the emergence of advanced technologies and the introduction of efficient, cost-effective manufacturing solutions for mass-producing epoxy composites are pivotal factors driving market growth. Additionally, strategic collaborations among key industry players and substantial investments in research and development (R&D) efforts aimed at creating versatile epoxy resins suitable for aircraft and watercraft construction are poised to further boost the epoxy composite market in the foreseeable future.

What Is Included In Market Segmentation?

The report has been segmented the market into following categories:

Breakup by Fiber Type:
• Glass Fiber
• Carbon Fiber
• Others

Breakup by Manufacturing Process:
• Lay-up
• Compression Moulding
• Resin Injection
• Resin Transfer Moulding
• Filament Winding
• Pultrusion

Breakup by End User:
• Aerospace and Defense
• Automotive
• Electrical and Electronics
• Wind Energy
• Sporting Goods
• Marine
• Piping
• Others

Breakup by Region:
• North America
o United States
o Canada
• Asia-Pacific
o China
o Japan
o India
o South Korea
o Australia
o Indonesia
o Others
• Europe
o Germany
o France
o United Kingdom
o Italy
o Spain
o Russia
o Others
• Latin America
o Brazil
o Mexico
o Others
• Middle East and Africa

The report provides a comprehensive analysis of the industry key players listed below:

The Major Players in the market are Arkema S.A, Avient Corporation, Axiom Materials Inc., Gurit, Hexcel Corporation, Huntsman Corporation LLC, Mitsubishi Chemical Holdings Corporation, SGL Carbon SE, Solvay S.A, Teijin Limited and Toray Industries Inc.

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This release was published on openPR.