Stratview Research has added a new research report on the ‘Composite Process Materials Market’ to its database. This report covers the top regions & countries of the world and shows the Industry size, influencing factors, competition, challenges, regional development status, market shares, revenue, and strategies to enhance growth. This report provides a pre-historic and future estimate for the segment and a comprehensive overview of the global market size, growth, supply, demand, share, and key stakeholders.
The composite process materials market witnessed a massive decline in 2020 but is estimated to bounce back swiftly, reaching a market value of US$ 1.15 billion in 2026.
Market Segments’ Analysis
Stratview Research has firstly segmented the composite process materials market based on the end-use industry type as aerospace & defense, wind energy, marine, transportation, and others. Aerospace & defense is expected to remain the largest segment of the market over the next five years. Although the segment has been severely hit by the pandemic, it is likely to maintain its supremacy driven by a host of factors including an expected recovery in aircraft production, increasing penetration of composites in the modern aircraft programs (B787, A350XWB, and A220), high dominance of prepreg materials in the aerospace composites; and growing demand for the automation in the manufacturing processes. Wind energy also holds a reasonable share in the market and has been gaining traction over the past few years. It was the only segment that witnessed growth amid the COVID-19 pandemic.
Based on the material type, the composite process materials market is segmented as vacuum bagging film, release liner, peel ply, breathers & bleeders, and others. The release liner is estimated to maintain its huge dominance in the market and is also expected to experience the quickest recovery during the forecast period. SCK paper-based release liner held a strong dominance in the market. The vacuum bagging film segment also offers sizable opportunities in the market.
Based on the application type, the market is segmented as prepreg manufacturing, prepreg layup, infusion process, and others. Prepreg manufacturing is estimated to remain the largest segment of the market and is also expected to experience the highest growth over the next five years. Key drivers are increasing penetration of composites in modern aircraft programs (having high usage of prepreg), impressive growth in wind turbine installations coupled with the trend of large-sized blades, and the emergence of advanced composites in the automotive industry.
In terms of regions, North America is expected to remain the largest market over the next five years. The region has been the pioneer in the advanced composites industry with the presence of several small to large-sized OEMs, molders, process material suppliers, and raw material suppliers. Asia-Pacific is expected to be the fastest-growing market in the post-pandemic market developments. China is the workhorse of the region, driving the region’s share significantly.
The supply chain of this market comprises raw material manufacturers, distributors, and users. Some of the key players in the Composite Process Materials Market are-