DUBLIN, Nov. 8, 2019 /PRNewswire/ -- The "Composite Rollers Market by Fiber Type (Carbon, Glass, Others), End-Use Industry (Mining, Pulp & Paper, Textile, Film & Foil Processing), Resin Type, and Region (North America, Europe, APAC, Row) - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The Composite Rollers Market Size is Estimated to Grow from USD 127 Million in 2019 to USD 163 Million by 2024, at a CAGR of 5.2% Between 2019 and 2024.
Composite rollers are majorly used in the pulp & paper industry owing to its lightweight and corrosion resistance properties.
Carbon fiber is projected to register a higher CAGR, in fiber type segment, between 2019 and 2024.
Composite rollers manufactured using carbon fiber is expected to grow at the fastest rate during the forecast period, owing to the properties offered by carbon fiber composite rollers, such as high strength, lightweight, and superior tension control among others. Additionally, the high demand from the pulp & paper and textile industries is one of the primary reasons behind the high growth of carbon fiber composite rollers.
The mining industry is expected to register the highest CAGR between 2019 and 2024.
The composite rollers market will register the highest CAGR in the mining industry. Composite rollers are significantly utilized in the mining industry as they provide excellent strength, low inertia, reduced vibration & noise, and consumes low electricity. In comparison to steel rollers, composite rollers are extremely lightweight and not need to be replaced frequently, which leads to reduced downtime and better productivity.
APAC accounted for the largest market share in the composite rollers market
APAC is expected to be the major market for composite rollers during the forecast period. Increasing demand for composite rollers for mining, pulp & paper, and film & foil processing industries is driving the growth of the composite rollers market in APAC. China and Australia lead the market for composite rollers in the APAC region.
The composite rollers market comprises major manufacturers such as Lorbrand Composites (South Africa), NEPEAN Conveyors (Australia), Pronexos (Netherlands), Double E Company LLC (US), Artur Kpper GmbH & Co. KG (Germany), Flexible Steel Lacing Company (US), Katsura Roller Manufacturing Corporation Limited (Japan), Conveyor Products & Solutions (Australia), Beijing HaoSheng Transmission Technology Co., Ltd (China), and Amalga Composites, Inc. (US).
- Need for Lightweight Rollers to Optimize the Efficiency of Machinery
- Growing Demand for Composite Rollers in the Mining and Pulp & Paper Industries
- Higher Costs of Composite Rollers Than That of Other Metal Rollers
- Lack of Awareness About the Benefits of Composite Rollers
- Incorporation of Efficient Production Technologies
- Issues Related to Repairability and Recyclability
- Slower Adoption in Applications Such as Food Processing, Glass, and Textile
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