Albany, NY -- (SBWire) -- 11/19/2018 --A recent report by ResearchMoz.us, titled, "The Global Market for Composites: Resins, Fillers, Reinforcements, Natural Fibers and Nanocomposites Through 2022," unravels every facet of the market to present useful information about its trajectory to the key stakeholders. It studies the drivers and restraints shaping the pace of the global composites market and also its current and possible size. The report further tries to understand the competition in the market.
At the outset, the report states that composites are made from the synthesis of two or more materials, namely matrix and filler materials. The composites find application in various industries such as the transportation, aerospace, consumer goods, electronics, marine, and others. Composites of the likes of carbon fiber, glass fiber, aramid fiber, and boron fiber have emerged as just the alternatives to traditional structural materials made of steel, concrete, wood, and aluminum.
The global composites market is set to rise in the next couple of years owing to the various unique perceived benefits of the product. Foremost among those are their unique chemical and physical properties. Composites typically have high strength-to-weight ratio. Which means they are lightweight yet strong. Apart from that, they are highly resistant to heat, fire, and corrosion. This makes them ideal for making aerospace and automobile parts. In fact, going forward soaring demand for fuel-efficient vehicles that are far less polluting is predicted to support market growth substantially.
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A noticeable trend in the global composites market is the backward integration by nimble players with raw material producers. This is because easy availability of major raw materials serves to bring down logistics costs. Besides, manufacturers are also focusing on improvisations of their production processes to bring down costs and increase efficiency. At present, the most popular manufacturing processes are filament winding process, layup process, pultrusion process, injection molding process, resin transfer molding process, and compression molding process.
The various kinds of products in the global composites market can be categorized as reinforcement materials, resins, fillers, nanocomposites, natural fiber composites, and others. The resins can be further categorized as thermoplastics and thermosets. The reinforcement materials again can be segmented into nonfibrous reinforcement materials and fibrous reinforcement materials.
From a geographical standpoint, the global composites market is spread across North America, South America, Europe, Asia Pacific, and the Middle East and Africa. Among them, Asia Pacific accounts for a leading share in the overall market. This is because of the surging demand from tanks and pipes manufacturers and the growing offshore oil drilling in the region. Presence of major producers of carbon fibers in Asia Pacific is also boding for its composites market.
Some of the key players in the global composites market are A. Schulman Engineered, Advanced Composites Inc., AOC LLC, Braj Binani Group, and Albany International.
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Aerospace and Automobile Industries Support Growth in Global Market for Composites