Composite Repairs Market - Highly Fragmented Growth and Forecast by 2025
In the recent times, many governments across the world have emphasized on the conservation of monuments and old structures, which has led to a significant increase in investments in the rehabilitation of old constructions. This, consequently, is fueling the demand for composite repairs, worldwide. Commonly, composite repairs are performed on damaged parts of automotive panels, aircraft, hull and deck of boat, wind blades, bridges, panels used in buildings, and leakage in tanks and pipes. The aerospace and defense and the wind energy industries have surfaced as the key consumers of composite repairs.
As of now, the global market for composite repairs is facing acute shortage of skilled professional. With the considerable rise in the number of maturing composite structure, the need for experienced labor will increase substantially in the near future, as continual repair is important to evade financial losses caused by project downtime. Further, the absence of regularity in material and testing procedures, varied range of repair process and material requirements based on industries, and the high amount incurred in the repair operation are also projected to throw a challenge to this market in the years to come. The key providers of composite repair services are aggressively involving into contracts and agreements to meet the demands of the end users across the world.
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Global Composite Repairs Market: Overview
The key role of composites is to restore the structural integrity of a component without hampering the original design strength. Composite repairs are extensively used for damaged structural parts of automotive panels, wind turbine blades, aircraft airframe, boats, and pipelines, among others.
On the basis of type, the global composite repairs market can be segmented into cosmetic, structural, and semi-structural. Based on process, the market can be classified into vacuum infusion, autoclave, hand lay-up, and others. The major end users of composite repairs are aerospace and defense, wind energy, automotive and transportation, marine, construction, and pipes and tanks, among others.
The report provides an in-depth analysis of market segments and the competitive landscape. The report also profiles major players in the global composite repairs market based on various attributes such as company overview, SWOT analysis, product portfolio, financial overview, business strategies, and recent developments.
Global Composite Repairs Market: Key Trends
Composites are presently being used in luxury cars or high-end racing cars. However, they are also slowly entering the mainstream passenger cars market. Due to urbanization, the ever-growing demand for automobiles has increased manifold. High and constant demand for automobiles has, in turn, led to the growth of the global composite repairs market. In addition, the use of composites in mass transit is a key factor driving the use of composite repairs in the automotive and transportation segment of the global market. Moreover, the new and advanced commercial aircrafts such as Boeing 787 Dreamliner and Airbus A350 and A380 are expansively using composites in airframes, thereby pushing the growth of the market.
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There are several materials in the pipeline that are being considered for testing, or are still in the research and development stage, and waiting to be launched. They in turn will give stiff competition to the existing composites, thereby limiting the market growth in the years to come. There are various self-healing composites such as lost wax process, hollow fibers, and Sheffield solid-state healing that can change shape on their own, detect damage, and protect themselves from lighting. These are the materials that are likely to pose a threat to the growth of global composite repairs market.
Global Composite Repairs Market: Regional Outlook
Geographically, the global composite repairs market can be classified into Europe, North America, Latin America, Asia Pacific, and the Middle East and Africa. Asia Pacific is expected to exceed other regions and become a large market share holder for composites in the near future. The demand is growing owing to increased expenditure in the aerospace industry. Moreover, two of the most populated countries of Asia Pacific – China and India – are investing majorly in wind energy. The governments of the said countries are focusing on the generation of clean energy by installing wind turbines. The APAC composite repairs market is also receiving an impetus from the defense industry. In order to increase value-added manufacturing activity, the governments in several Southeast Asian countries are concentrating on maintenance, repair, and operations.
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(MRO) industries and aircraft parts manufacturing as part of their economic development strategy.
Global Composite Repairs Market: Key Players
The global market for composite repairs is highly fragmented. Some of the key players in the market are Fibrwraps, Lufthansa Technik AG, Total Wind Group A/S, Air France KLM E&M, HAECO, UpWind Solution, Technical Wind Services, Citadel Technologies, Milliken Infrastructure, T.D. Williamson, West Systems, WR composites, and Concrete Repairs Ltd.
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