LONDON, May 11, 2016 /PRNewswire/ -- "Increasing demand for Fire, Smoke, Toxicity Retardant (FST) Composite Resin from rail and aircraft interior applications to drive the FST composite resin market"
The global FST composite resin market is projected to reach about USD 835.2 million by 2020, registering a CAGR of 8.5% between 2015 and 2020. The major drivers fueling the growth of the FST composite resin market are increasing use of FST composite resin in interior application of rail and aircraft so as to meet stringent public safety regulations imposed by various regulatory authorities.
"Aerospace & defense is the fastest-growing application for the FST composite resin market."
The FST composite resin in aerospace & defense application is also projected to witness the highest growth rate, due to the increasing penetration of composites into interior of commercial aircrafts, such as the Gulfstream Aerospace G650, Boeing B787, Airbus A320, and Airbus A350 XWB. FST composite resins such as thermoset and thermoplastic, which are used as a matrix in composites, offer improved performance properties including safety that make the composites viable in such applications. The stringent safety regulations mandated by Federal Aviation Regulations (FAR) and EASA (European Aviation Safety Agency) coupled with high demand of FST composite resin from transportation and aerospace & defense applications, are driving the global FST composite resin market.
"North America is the fastest-growing market for FST composite resin."
North America is the fastest-growing market for FST composite resin, in terms of value and volume. High economic growth rate, growing manufacturing industries, and new product developments by various leading players are few factors leading to the growth of the market for FST composite resin in this region. The U.S. dominates the market for FST composite resin in North America. Stringent safety regulations in this region especially in the U.S. drive the FST composite resin market in the transportation and aerospace & defense applications. Also, the demand for FST composite resin in aerospace & defense is high owing to the presence of largest aircraft manufacturer Boeing in the country.
This study has been validated through primaries conducted with various industry experts, globally. These primary sources have been divided in three categories: by company type, by designation, and by region.
- By company type- Tier 1- 24%, Tier 2- 32%, and Tier 3- 44%
- By designation- C Level- 35%, Director Level- 20%, and Others- 45%
- By region- North America- 25%, Europe- 30%, Asia-Pacific- 40%, and RoW -5%
The report also provides company profiles and competitive strategies adopted by the major market players; the various key players profiled in the report are as follows:
- Ashland Inc. (the U.S.)
- BASF SE (Germany)
- BUFA Composite Systems GmbH & Co. KG (Germany)
- Hexion Inc. (the U.S.)
- Huntsman Corporation (the U.S.)
- Mader Composites (France)
- NORD Composites (France)
- Polynt SPA (Italy)
- Reichhold LLC (the U.S.)
- SABIC (Saudi Arabia)
- Scott Bader Company Limited (U.K.)
Reasons to buy the Report
The report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the FST composite resin market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the sub-segments across the different verticals and regions.
2. The report helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to better understand the competitors and gain more insights to better their position in the business. The competitive landscape section includes competitor ecosystem, new product developments, partnerships, and mergers & acquisitions.
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