Canada Composite Repair Market, By Material (Carbon Fiber, Fiber Glass, Quartz, Kevlar, Others), Type (Cosmetic, Resin Injection, Semi-Structural Plug/Patch, Structural Mechanically–Fastened Doubler, Structural Bonded External Doubler, Structural Flush Repair), Industry (Aerospace, Automotive, Marine, Oil and Gas, Chemical, Petrochemical, Power, Water Utilities, Others) - Industry Trends and Forecast to 2030.
Canada Composite Repair Market Analysis and Size
The essential factors contributing to the growth of the composite repair market in the forecast period of 2023 to 2020 include the increasing use of composites in various industries, which is the prevailing need for composite repair. Therefore, industries prefer composite repair options. Moreover, composite repair supports the concept of sustainability by extending the lifespan of structures and reducing waste. Repairing damaged composites rather than replacing those helps conserve resources and reduce the carbon footprint of manufacturing new composite components, significantly contributing to the market's growth.
Data Bridge Market Research analyses that the composite repair market, which was USD 443,834.63 thousand in 2022, is expected to reach USD 655,745.89 thousand by 2030, growing at a CAGR of 5.0% during the forecast period of 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Canada Composite Repair Market Scope and Segmentation
|
Report Metric
|
Details
|
|
Forecast Period
|
2023 to 2030
|
|
Base Year
|
2022
|
|
Historic Years
|
2021 (Customizable to 2015-2020)
|
|
Quantitative Units
|
Revenue in USD Thousand, Volumes in Units, Pricing in USD
|
|
Segments Covered
|
Material (Carbon Fiber, Fiber Glass, Quartz, Kevlar, Others), Type (Cosmetic, Resin Injection, Semi-Structural Plug/Patch, Structural Mechanically–Fastened Doubler, Structural Bonded External Doubler, Structural Flush Repair), Industry (Aerospace, Automotive, Marine, Oil and Gas, Chemical, Petrochemical, Power, Water Utilities, Others)
|
|
Countries Covered
|
Canada
|
|
Market Players Covered
|
Hexcel Corporation (U.S.), 3M Company (U.S.), Gurit Holding AG (Switzerland), Airtech International Inc. (U.S.), Huntsman Corporation (U.S.), Henkel AG & Co. KGaA (Germany), Composite Technology & Infrastructure LLC (U.A.E.), Momentive Performance Materials Inc. (U.S.), TenCate Advanced Composites (A Subsidiary of Toray Industries) (U.S.), Park Aerospace Corp. (U.S.), among others
|
|
Market Opportunities
|
|
Market Definition
Composite Repair refers to the process of using composite materials in order to repair damaged assets. Composites can be used to temporarily repair process piping, pipelines, heat exchangers, hoses, storage tanks, and other vessels or buildings. Composite repairs are performed on damaged laminate structures, fibre reinforced composites, and other composite materials. The bonded composite repair reduces stresses in the damaged region and prevents cracks from opening or growing. Composite materials are used in a wide range of applications in aerospace, marine, automotive, surface transport, and sports equipment markets among many others.
Canada Composite Repair Market Dynamics
Drivers
- Increasing use of composites in various industries
Composites, such as carbon fiber reinforced polymers (CFRP), are widely used in various industries, including aerospace, automotive, wind energy, marine, and construction. As the use of composites continues to expand, the need for effective repair solutions also increases, driving the growth of the Canada composite repair market.
- Cost-effective repair option
Composite repairs often offer a cost-effective alternative to replacing damaged components or structures entirely. Repairing composites is generally less expensive than replacing them, especially in industries where the cost of new composite materials is high. This cost advantage drives the adoption of composite repair solutions.
Opportunities
- Growth in emerging markets
Emerging economies are witnessing significant industrial growth and infrastructure development. As these markets invest in industries such as aerospace, automotive, and renewable energy, the demand for composite repair solutions rises to support the maintenance and repair of composite-based assets.
- Increasing awareness and education
The growing awareness of the benefits of composites and their repair solutions among industry professionals, asset owners, and operators is driving the demand for composite repair services. Education and training programs focusing on composite repair techniques are becoming more prevalent, leading to increased adoption.
Restraints/Challenges
- Lack of standardized repair procedures
Composite materials and structures can vary significantly in terms of composition, design, and manufacturing methods. The absence of standardized repair procedures and guidelines can make it challenging to ensure consistent and reliable repairs. This lack of standardization can lead to variations in repair quality and hinder the widespread adoption of composite repair solutions.
- Regulatory challenges
Compliance with regulatory requirements can be a restraint for the composite repair market. Different industries, such as aerospace and transportation, have stringent regulations and standards for repairs to ensure safety and reliability. Adhering to these regulations and obtaining necessary certifications can be time-consuming and costly for repair service providers.
This composite repair market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the Composite repair market, contact Data Bridge Market Research for an Analyst Brief. Our team will help you make an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions. Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Recent Development
-
In May 2023, Hexcel Corporation announced the grand opening of its completed expansion at its engineered core operations plant in Morocco to meet the growing demand for lightweight advanced composite materials for the aerospace industry
-
In August 2020, Airtech International, Inc announced that it had been recognized as a winner of the SAMPE 2020 Organizational Excellence Award. The award recognizes organizations from industry, academia, and/or government that exemplify the best of the Society for the Advancement of Material and Process Engineering (SAMPE) and within the advanced materials and process community as a whole.
Canada Composite Repair Market Scope
The Composite repair market is segmented on the basis of material, type, and industry. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Material
- Carbon Fiber
- Fiber Glass
- Quartz
- Kevlar
- Others
Type
- Cosmetic
- Resin Injection
- Semi-Structural Plug/Patch
- Structural Mechanically–Fastened Doubler
- Structural Bonded External Doubler
- Structural Flush Repair
Industry
- Aerospace
- Automotive
- Marine, Oil, and Gas
- Chemical
- Petrochemical
- Power
- Water Utilities
- Others
Competitive Landscape and Canada Composite Repair Market Share Analysis
The composite repair market competitive landscape provides details of competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus related to the composite repair market.
Some of the major players operating in the Canada composite repair market are:
- Hexcel Corporation (U.S.)
- 3M Company (U.S.)
- Gurit Holding AG (Switzerland)
- Airtech International Inc. (U.S.)
- Huntsman Corporation (U.S.)
- Henkel AG & Co. KGaA (Germany)
- Composite Technology & Infrastructure LLC (U.A.E.)
- Momentive Performance Materials Inc. (U.S.)
- TenCate Advanced Composites (A Subsidiary of Toray Industries) (U.S.)
- Park Aerospace Corp. (U.S.), among others
SKU-