NEW YORK, Sept. 15, 2016 /PRNewswire/ --
"Closed molding composites market projected to register a CAGR of 7.45% during forecast period"
The closed molding composites market is projected to reach USD 66.58 billion by 2021, at a CAGR of 7.45% between 2016 and 2021. The major driver stimulating the closed molding composites market is high demand from the aerospace & defense industry, as they have the ability to reduce weight and increase fuel efficiency.
The advantages of closed molding processes over traditional molding processes (open mold process) such as improvement of productivity through innovative engineering approaches, minimization of energy consumption, and reduction of emission levels also drive the market.
"Aerospace & defense is the fastest growing application segment in the closed molding composites market, in terms of value."
The key drivers of closed molding composites in the aerospace & defense industry are the rise in number of airplane deliveries, high performance properties such as lightweight, excellent safety & acoustic features, and government regulations. Advanced closed molding composites offer higher fatigue tolerance, which helps in improving or increasing the structure of components. To comply with regulatory norms, aerospace manufacturers such as Boeing (U.S.), Airbus (France), GE Aviation (U.S.), and others have started using these composites to manufacture primary & secondary structures and interior components of aircraft. Thus, aerospace & defense application is likely to be the most profitable investment pocket for stakeholders.
"Asia-Pacific is the fastest-growing market of closed molding composites."
Asia-Pacific is expected to be the fastest-growing market for closed molding composites in the next five years. The market in this region is driven by increasing consumption of closed molding composite in various industries such as wind energy, construction, electrical & electronics, and transportation. China leads the market in Asia-Pacific. Its consumption has grown remarkably owing to growth in the wind energy, sporting goods, and aerospace & defense industries. The wind energy industry in China witnessed the highest number of wind energy installations in 2015; it added 30.8 GW of new capacity.
This study has been validated through primaries conducted with various industry experts, globally. These primary sources have been divided into following three categories:
- By company type- Tier 1- 40%, Tier 2- 33%, and Tier 3- 27%
- By designation- C Level- 4%, Director Level- 15%, and Others- 45%
- By region- North America- 15%, Europe- 55%, Asia-Pacific- 30%.
The report provides comprehensive analysis of company profiles listed below:
- A. Schulman (U.S)
- Strongwell Corporation (U.S.)
- Royal TenCate N.V. (Netherlands)
- Menzolit GmbH (Germany)
- GKN Aerospace (U.K.)
- Continental Structural Plastics Inc. (U.S.)
- Core Molding Technologies (U.S.)
- Excel Composites Inc. (Finland)
- Polynt S.p.A (Italy)
- Closed molding composite manufacturers
- Raw material suppliers
- Distributors & suppliers
- Industry associations
Scope of the Report
The research report segments the closed molding composites into the following submarkets:
By Fiber Type:
- Glass fiber composites
- Carbon fiber composites
- Chopped carbon fiber
- Continuous carbon Fiber
- Other fiber composites
- Aramid fiber composites
- Natural fiber composites
- Aerospace & defense
- Wind Energy
- Electrical & Electronics
- Civil Engineering
- Sporting Goods
By Manufacturing Process:
- Vacuum Infusion & Bagging
- Compression Molding
- Injection Molding
- Reaction Injection Molding
- Resin Transfer Molding (RTM)
- Light RTM
- Centrifugal Casting
- Continuous Lamination
- North America
- Middle East & Africa
- Latin America
Read the full report: http://www.reportlinker.com/p04141084-summary/view-report.html
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
Contact Clare: email@example.com
Intl: +1 339-368-6001
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/closed-molding-composites-market-2021-aerospace--defense-is-the-fastest-growing-application-segment-300329081.html