Global Epoxy Composites Market, By Fiber Type (Glass Fiber, Carbon Fiber, and Others), Manufacturing Process (Layup, Compression Molding, Resin Injection Molding, Resin Transfer Molding, Filament Winding, and Pultrusion), End User (Wind Energy, Aerospace and Defense, Sporting Goods, Automotive and Transportation, Electrical and Electronics, Pipe and Tank, Marine, and Others) - Industry Trends and Forecast to 2023 to 2031.
Epoxy Composites Market Analysis and Size
In the aerospace sector, the epoxy composites market plays a pivotal role in the manufacturing of lightweight yet robust components essential for aircraft construction. These composites are utilized in critical parts such as fuselages, wings, empennages, and interior components due to their exceptional strength-to-weight ratio, which enhances fuel efficiency and performance while maintaining structural integrity. Epoxy composites offer advantages such as corrosion resistance, high fatigue resistance, and design flexibility, making them ideal for meeting the stringent requirements of aerospace engineering.
The global epoxy composites market size was valued at USD 36.88 billion in 2023 and is projected to reach USD 74.03 billion by 2031, with a CAGR of 9.10% during the forecast period of 2024 to 2031. 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.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016-2021)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Fiber Type (Glass Fiber, Carbon Fiber, and Others), Manufacturing Process (Layup, Compression Molding, Resin Injection Molding, Resin Transfer Molding, Filament Winding, and Pultrusion), End User (Wind Energy, Aerospace and Defense, Sporting Goods, Automotive and Transportation, Electrical and Electronics, Pipe and Tank, Marine, and Others)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E., Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa
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Market Players Covered
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Huntsman International LLC (U.S.), Solvay (Belgium), Owens Corning (U.S.), Hexcel Corporation (U.S.), Rotec Composite Group B.V. (Netherlands), ISOSPORT Verbundbauteile GmbH (Austria), Axiom Materials, Inc. (U.S.), Scott Bader Company Ltd. (U.K.), Gurit (Switzerland), SGL Carbon (Germany), Sumitomo Bakelite Co., Ltd. (Japan), SpecialChem (France), Barrday Inc. (Canada), IDI Composites International (U.S.), Mitsubishi Chemical Corporation (Japan), Avient (U.S.), TORAY INDUSTRIES, INC. (Japan), Arkema (France), Teijin Carbon Europe GmbH (Germany), TPI Composites (U.S.)
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Market Opportunities
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Market Definition
Epoxy composites are advanced materials made by combining epoxy resins with reinforcing fibers such as carbon, glass, or aramid. These composites exhibit exceptional strength-to-weight ratios, durability, and resistance to corrosion, making them ideal for various applications, including aerospace, automotive, marine, and construction. The epoxy resin acts as a matrix that binds and supports the reinforcing fibers, resulting in a lightweight yet robust material with customizable properties tailored to specific needs.
Epoxy Composites Market Dynamics
Drivers
- Growing Technological Advancements
Innovations in epoxy resin formulations, such as enhanced curing agents and additives, improve composite properties such as strength, toughness, and fire resistance, expanding their applicability across various industries. Additionally, advancements in composite manufacturing techniques, such as automated lay-up processes and 3D printing, increase production efficiency and enable complex geometric designs, driving adoption. Moreover, ongoing research in nanotechnology and composite materials is unlocking new possibilities for lightweight and high-performance epoxy composites, further fueling market growth. These technological advancements not only enhance the performance and durability of epoxy composites but also drive down production costs, making them increasingly competitive with traditional materials.
- Increasing Demand for Lightweight Materials
Industries such as aerospace, automotive, and transportation are increasingly seeking lightweight solutions to enhance fuel efficiency, reduce emissions, and improve performance. Epoxy composites offer a compelling solution due to their exceptional strength-to-weight ratio, making them ideal for applications where weight reduction is critical without compromising structural integrity. This trend underscores the pivotal role epoxy composites play in addressing the evolving needs of industries striving for lightweight, high-performance materials.
Opportunities
- Growing Stringent Environmental Regulations
Stringent environmental regulations compel industries to seek lightweight and eco-friendly materials such asepoxy composites to meet compliance standards. Epoxy composites offer advantages such as lower carbon footprint, reduced energy consumption during production, and recyclability compared to conventional materials. Moreover, their durability and resistance to corrosion contribute to extended product lifecycles, aligning with circular economy principles. As a result, industries subject to environmental regulations, such as aerospace, automotive, and construction, increasingly adopt epoxy composites, driving market growth and fostering sustainable practices within these sectors.
- Increasing Applications of Epoxy Composites
Epoxy composites offer versatility and adaptability, making them suitable for a wide range of applications, including aerospace, automotive, marine, construction, renewable energy, and sports equipment. As industries seek lightweight, durable, and high-performance materials, epoxy composites emerge as a compelling solution due to their exceptional mechanical properties, corrosion resistance, and design flexibility. Moreover, ongoing advancements in epoxy composite technology continue to expand their applications, driving demand across diverse sectors and contributing to the sustained growth of the epoxy composites market globally.
Restraints/Challenges
- Increasing Complexity of Manufacturing
The production process often involves intricate techniques such as resin infusion, autoclave curing, and precise molding, requiring specialized equipment, skilled labor, and stringent quality control measures. These factors contribute to higher production costs and longer lead times, making scalability a challenge for manufacturers. The need for expertise in handling and processing epoxy resins and reinforcing fibers adds to the complexity, limiting the pool of qualified manufacturers and potentially hindering market growth.
- High Cost of Epoxy Composites
While epoxy composites offer exceptional mechanical properties and lightweight advantages, their production involves costly raw materials, sophisticated manufacturing processes, and specialized equipment. This elevated production cost can deter potential consumers, particularly in industries with stringent budget constraints. The relatively higher initial investment required for adopting epoxy composites may discourage some companies from transitioning away from conventional materials.
This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, 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 market contact Data Bridge Market Research for an Analyst Brief, our team will help you take 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.
Epoxy Composites Market Scope
The market is segmented on the basis of fiber type, manufacturing process and end user. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
Fiber Type
- Glass Fiber
- Carbon Fiber
- Others
Manufacturing Process
- Layup
- Compression Molding
- Resin Injection Molding
- Resin Transfer Molding
- Filament Winding
- Pultrusion
End User
- Wind Energy
- Aerospace and Defense
- Sporting Goods
- Automotive and Transportation
- Electrical and Electronics
- Pipe and Tank
- Marine
- Others
Epoxy Composites Market Analysis/Insights
The market is analyzed and market size, volume information is provided by country, fiber type, manufacturing process and end user as referenced above.
The countries covered in the market report are U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America.
Asia-Pacific dominates the market primarily fueled by the growing wind energy sector in countries such as China and India. Both nations have witnessed remarkable growth in wind energy installations, driving demand for epoxy composites used in wind turbine blades. This surge is attributed to ambitious renewable energy targets, government incentives, and favorable investment climates. Consequently, manufacturers in the Asia-Pacific region are experiencing heightened demand for epoxy composites, consolidating their leadership in this market segment.
North America is expected to have significant growth in the market, largely fueled by rising demand for lightweight materials such as epoxy composites. This surge is primarily attributed to the adoption of fuel-efficient automotive designs, driven by stringent environmental regulations in the region. These regulations incentivize the automotive industry to explore and implement lighter materials, such as epoxy composites, to enhance fuel efficiency and reduce emissions, thus propelling market expansion in North America.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Epoxy Composites Market Share Analysis
The market competitive landscape provides details by competitor. 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, application dominance. The above data points provided are only related to the company’s focus related to chemicals market.
Some of the major players operating in the market are:
- Huntsman International LLC (U.S.)
- Solvay (Belgium)
- Owens Corning (U.S.)
- Hexcel Corporation (U.S.)
- Rotec Composite Group B.V. (Netherlands)
- ISOSPORT Verbundbauteile GmbH (Austria)
- Axiom Materials, Inc. (U.S.)
- Scott Bader Company Ltd. (U.K.)
- Gurit (Switzerland)
- SGL Carbon (Germany)
- Sumitomo Bakelite Co., Ltd. (Japan)
- SpecialChem (France)
- Barrday Inc. (Canada)
- IDI Composites International (U.S.)
- Mitsubishi Chemical Corporation (Japan)
- Avient (U.S.)
- TORAY INDUSTRIES, INC. (Japan)
- Arkema (France)
- Teijin Carbon Europe GmbH (Germany)
- TPI Composites (U.S.)
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