DUBLIN--(BUSINESS WIRE)--Dec 2, 2022--
The "Epoxy Composite Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global epoxy composite market reached a value of US$ 30.02 Billion in 2021. Looking forward, the market is set to reach a value of US$ 43.85 Billion by 2027, exhibiting a CAGR of 6.52% during 2021-2027.
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 Questions Answered in This Report:
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being
Key Market Segmentation:
Breakup by Fiber Type:
Breakup by Manufacturing Process:
Breakup by End User:
Breakup by Region:
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KEYWORD:
INDUSTRY KEYWORD: CHEMICALS/PLASTICS MANUFACTURING
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 12/02/2022 04:26 AM/DISC: 12/02/2022 04:26 AM
http://www.businesswire.com/news/home/20221202005128/en