The global epoxy composite market size reached US$ 34.3 Billion in 2023. Looking forward, the market is projected to reach US$ 54.9 Billion by 2032, exhibiting a growth rate (CAGR) of 5.37% during 2023-2032.
Epoxy composite is a type of material that employs epoxy resin for creating a polymer matrix, which is reinforced with fibers or other fillers to manufacture durable components with high strength-to-weight ratios. Some of the commonly used methods for producing epoxy composites include hand layup, compression, filament winding, and injection resin and resin molding processes.
As compared to conventional construction materials, such as metal and concrete, epoxy composite is more lightweight, flexible, and cost-effective, and exhibits excellent adhesion and superior ultraviolet (UV) radiation, chemical, and heat resistance properties. This, in turn, protects the object from deterioration, due to which it is extensively used in various industrial applications. At present, epoxy composite is mainly available in glass and carbon fiber types.
As a result, there has been a fueling demand for epoxy composites in the wind energy industry for producing and coating components, which is acting as another growth-inducing factor. In line with this, significant technological advancements and the introduction of several effective and affordable production solutions for manufacturing epoxy composites in bulk are contributing to the market growth. Other factors, such as strategic collaborations amongst key players and ongoing investments in the research and development (R&D) activities for producing versatile epoxy resin that can be deployed as a key component to construct air and watercraft, are creating a positive outlook for the market.
2. What is the expected growth rate of the global epoxy composite market during 2024-2032?
3. What are the key factors driving the global epoxy composite market?
4. What has been the impact of COVID-19 on the global epoxy composite market?
5. What is the breakup of the global epoxy composite market based on the fiber type?
6. What is the breakup of the global epoxy composite market based on the end user?
7. What are the key regions in the global epoxy composite market?
8. Who are the key players/companies in the global epoxy composite market?
Epoxy composite is a type of material that employs epoxy resin for creating a polymer matrix, which is reinforced with fibers or other fillers to manufacture durable components with high strength-to-weight ratios. Some of the commonly used methods for producing epoxy composites include hand layup, compression, filament winding, and injection resin and resin molding processes.
As compared to conventional construction materials, such as metal and concrete, epoxy composite is more lightweight, flexible, and cost-effective, and exhibits excellent adhesion and superior ultraviolet (UV) radiation, chemical, and heat resistance properties. This, in turn, protects the object from deterioration, due to which it is extensively used in various industrial applications. At present, epoxy composite is mainly available in glass and carbon fiber types.
Epoxy Composite Market Trends
One of the key factors driving the epoxy composite market is the widespread product adoption in load-bearing applications, including automotive, aerospace, oil and gas, and construction industries, due to their improved mechanical properties, high adhesiveness, heat and solvent resistance, and low costs. Additionally, epoxy composites exhibit various beneficial properties, such as being lightweight, exhibiting resistance to fatigue, and offering lack of shrinkage after cooling, due to which they are frequently combined with carbon and glass fiber to manufacture wind blades.As a result, there has been a fueling demand for epoxy composites in the wind energy industry for producing and coating components, which is acting as another growth-inducing factor. In line with this, significant technological advancements and the introduction of several effective and affordable production solutions for manufacturing epoxy composites in bulk are contributing to the market growth. Other factors, such as strategic collaborations amongst key players and ongoing investments in the research and development (R&D) activities for producing versatile epoxy resin that can be deployed as a key component to construct air and watercraft, are creating a positive outlook for the market.
Key Market Segmentation
This report provides an analysis of the key trends in each sub-segment of the global epoxy composite market report, along with forecasts at the global, regional and country level from 2024-2032. The report has categorized the market based on fiber type, manufacturing process and end user.Breakup by Fiber Type:
- Glass Fiber
- Carbon Fiber
- Others
Breakup by Manufacturing Process:
- Lay-up
- Compression Moulding
- Resin Injection
- Resin Transfer Moulding
- Filament Winding
- Pultrusion
Breakup by End User:
- Aerospace and Defense
- Automotive
- Electrical and Electronics
- Wind Energy
- Sporting Goods
- Marine
- Piping
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape
The competitive landscape of the industry has also been examined along with the profiles of the key players being Arkema S.A, Avient Corporation, Axiom Materials Inc., Gurit, Hexcel Corporation, Huntsman Corporation LLC, Mitsubishi Chemical Holdings Corporation, SGL Carbon SE, Solvay S.A, Teijin Limited and Toray Industries Inc.Key Questions Answered in This Report
1. What was the size of the global epoxy composite market in 2023?2. What is the expected growth rate of the global epoxy composite market during 2024-2032?
3. What are the key factors driving the global epoxy composite market?
4. What has been the impact of COVID-19 on the global epoxy composite market?
5. What is the breakup of the global epoxy composite market based on the fiber type?
6. What is the breakup of the global epoxy composite market based on the end user?
7. What are the key regions in the global epoxy composite market?
8. Who are the key players/companies in the global epoxy composite market?
Table of Contents
1 Preface3 Executive Summary11 Value Chain Analysis13 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Epoxy Composite Market
6 Market Breakup by Fiber Type
7 Market Breakup by Manufacturing Process
8 Market Breakup by End User
9 Market Breakup by Region
10 SWOT Analysis
12 Porters Five Forces Analysis
14 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Arkema S.A
- Avient Corporation
- Axiom Materials Inc.
- Gurit
- Hexcel Corporation
- Huntsman Corporation LLC
- Mitsubishi Chemical Holdings Corporation
- SGL Carbon SE
- Solvay S.A
- Teijin Limited
- Toray Industries Inc.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 138 |
| Published | April 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 34.3 Billion |
| Forecasted Market Value ( USD | $ 54.9 Billion |
| Compound Annual Growth Rate | 5.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 11 |
