DUBLIN, Feb. 17, 2020 /PRNewswire/ -- The "Long-Fiber Thermoset Composites Market - Growth, Trends, and Forecast (2020-2025)" report has been added to ResearchAndMarkets.com's offering.
The global long-fiber thermoset composites market is expected to grow at with a CAGR greater than 5% during the forecast period.
One of the major factors driving the market is the stringent regulations for carbon emission and uptake of electric vehicles. However, issues with recycling of long-fiber thermoset composites is hindering the growth of the market.
Among the end-user industries, building & construction accounted for the highest market share and is expected to dominate the market studied during the forecast period. North America accounts for the highest market share and is expected to dominate the market during the forecast period.
The long-fiber thermoset composites market is moderately fragmented as the market share is divided between many players. Key players in the market include Advanced Composites, LANXESS, Celanese Corporation, Lingol Corporation, and SABIC, among others.
Carbon Fiber Type to Dominate the Market
- Carbon fibre is the most popular material for producing long fibre thermoset composites especially, where the high composite strength.
- Carbon fibres, also known as graphite fibres, can be based on three chemical sources: polyacrylonitrile (PAN method that is led by Japanese manufacturers), rayon (such as from the Indian manufacturer Grasim) or petroleum pitch. More than 85% of the carbon fibres produced are made from polyacrylonitrile.
- However, the composition varies with each producer according to the recipe of the manufacturers. Carbon fibres are usually grouped according to the modulus band in which their properties fall and are supplied in different forms, from continuous filament tows to chopped fibres and mats.
- The main benefits of carbon fibres include their low density and hence high strength-to-weight ratio and stiffness.
- Hence, owing to the above-mentioned factors, carbon fiber type is expected to dominate the market studied during the forecast period.
North America to Dominate the Market
- North America accounts for the highest share of the market studied currently, with the major demand coming from the United States.
- The Corporate Average Fuel Economy (CAFE) regulations in the United States aims to raise the average fuel efficiency of new cars and vehicles to 54.5 miles per gallon by 2025 to reduce national dependence on oil.
- This regulatory pressure means that the American automotive industry has to use solutions such as light weighting to meet fuel efficiency targets. Recent federal initiatives are also encouraging for advanced composites, including for automotive applications.
- Hence, owing to the above-mentioned factors, North America is expected to dominate the market studied during the forecast period.
Key Topics Covered
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Stringent Regulations for Carbon Emission and uptake of Electric Vehicles
4.1.2 Other Drivers
4.2.1 Issues With Recyling of Long-Fiber Thermoset Composites Market
4.2.2 Other Restraints
4.3 Industry Value-chain Analysis
4.4 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 Resin Type
5.1.1 Unsaturated Polyester
5.1.3 Vinyl Ester
5.2 Fiber Type
5.2.1 Glass Fiber
5.2.2 Carbon Fiber
5.3 End-user Industry
5.3.4 Building & Construction
5.3.5 Wind Energy
5.3.6 Electrical & Electronics
5.4.2 North America
5.4.4 South America
5.4.5 Middle-East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Advanced Composites Inc.
6.4.2 Celanese Corporation
6.4.3 Conductive Composites
6.4.4 Fibrtec Inc.
6.4.5 FRP Services & Co.
6.4.7 Lingol Corp.
6.4.8 PlastiComp Inc.
6.4.9 PolyOne Corporation
6.4.10 RTP Company
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/qggrnf
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