Organosheet Market worth $1.0 billion by 2028 - Exclusive Report by MarketsandMarkets™

CHICAGO, Feb. 27, 2024 /PRNewswire/ -- The report "Organosheet Market by Fiber Type (Carbon Fiber, Glass Fiber), Resin Type (PA, PP, PC, PEEK), Application (Aerospace & Defense, Transportation, Sports & Leisure, Construction), & Region (North America, APAC, Europe, MEA) - Global Forecast to 2028", is estimated at USD 0.6 billion in 2023 and is projected to reach USD 1.0 billion by 2028, at a CAGR of 12.0% from 2023 to 2028.

The growth of the organosheet market is being driven by a number of factors, including increasing demand from aerospace applications, extensive use of composites in construction industry, high durability and fatigue resistance, and increasing demand for lightweight materials from automotive industry. The high processing and manufacturing cost of organosheets could hinder market growth. The high demand of organosheets from electric vehicles and cost reduction of carbon fiber composites has boosted the organosheet market.

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191 – Tables
60 – Figures
228 – Pages

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Carbon fiber type segment accounted for largest market share of organosheet market in 2022.

Carbon fiber organosheets were restricted to high-end applications such as aerospace & defense due to their high cost. However, over the years, their cost has drastically reduced due to the advent of new technologies and the reduced cycle time for processing. This cost reduction has increased the customer base of carbon fiber products. Carbon fiber organosheets offer high tensile strength, high stiffness, low weight, high chemical resistance, low thermal expansion, and high temperature tolerance. These properties open vast opportunities for carbon fiber prepregs in various applications such as wind energy, automotive, industrial engineering, and high-performance sports equipment.

Transportation segment is expected to registered highest CAGR during forecasted period

According to the US Department of Energy, vehicle weight significantly reduces fuel consumption. Weight reduction by 10% can improve fuel economy by 6–8%. For instance, in the automotive industry, UDMAX GPP 45–70 tape helps OEMs and designers reduce part weight to decrease fuel consumption and emissions to comply with current and upcoming regulatory requirements. The thermoplastic composite door achieved a lower carbon and energy footprint than the other materials. Organosheets can be used in sidewalls, floor, and roof panels, replacing steel, wood, or thermosets for lighter weight, toughness, and durability in light commercial vehicles.

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North America region is expected to be registered second highest CAGR in terms of value during forecasted period

The carbon fiber market has been studied in North America, Europe, Asia Pacific, Latin America and Middle East and Africa.

The market for organosheet in North America is expanding healthily, propelled by strong demand from the building and automotive sectors. The growing use of organosheet in various end-use industries, including the automobile and building sectors, is driving the market further. Regulatory agencies are vital in determining how the market is shaped. The market for thermoplastic composites in the area is expected to increase due to severe regulations, such as US EPA (United States Environmental Protection Agency) pollution restrictions and automobile emission reduction initiatives Manufacturers are forced by these laws to employ thermoplastic composites, which increases the product's use in transportation-related applications. Therefore, the market for thermoplastic organosheets is greatly impacted by the regulatory environment in North America. Most leading organosheet manufacturers, such as Johns Manville Corporation (US) and Avient Corporation (US), are located in this region.

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