The Asia-Pacific region is the fastest growing region in the continuous fiber composites market. The market has been experiencing a rapid growth in the past few years owing to the growth in economy, increasing automotive manufacturing facilities, high demand for premium & luxury vehicles, increasing demand for non-renewable sources of energy, and increasing consumer preferences for using aero plane as the mode of transportation. These factors are providing a much-needed thrust to the continuous fiber composites market in Asia-Pacific region.
Increasingly strict fuel economy standards which have been mandated throughout North America in the past few years is one of the primary reasons for the growth of CFC market in North America. Strict governmental regulations such as CAFÉ standards and air pollution control norms by the Environment Protection Agency (EPA) are mandated throughout the U.S by the government. The presence of automobile manufacturers such as Ford, General Motors, and Tesla, among others, are providing the much-needed boost for the growth the CFC market in this region.
According to a new market intelligence report by BIS Research, titled ‘Global Continuous Fiber Composites…ecast (2017-2022)’, the global continuous fiber composites market is expected to reach $2,506.5 million by 2022.
In 2016, woven fabrics occupied the highest share of 45.6% in the global CFC market in terms of value. Woven fabrics offer good mechanical properties and high aesthetic value. However, high quality weaves that are used for aesthetic purposes are slightly expensive. Woven fabrics are increasingly used in various applications from the sports industry such as roller blades, bike frames, golf stick, tennis racket, ski, and footwear, among others. Additionally, these woven fabric composites are majorly used in the automotive industry in parts of suspension, gears, drive belts, tires, heater hoses, battery separators, brake and clutch linings, air filters, gaskets and crash helmets.
The major factors driving the global market for continuous fiber composites are stringent governmental regulations compelling the use of continuous fiber composites, superior properties compared to conventional materials, and growing demand for continuous fiber thermoplastics from various end-user industries.
Automotive segment dominated the continuous fiber composites market with the market size of 230.0 kilotons in 2016. This is on account of the increasing usage of composites in applications such as A, B, & C pillars, roof structure, hood, fenders, fuel tank, transmission, chassis, wheels, and passenger compartment frame. Some of the major companies such as BMW, Ford, Apple Inc., and General Motors, are using continuous fiber composite materials in the manufacturing of the parts to reduce the average weight of their vehicle models, thereby, increasing the fuel efficiency of the vehicle. For instance, BMW AG, a major automobile manufacturer has deployed carbon fiber reinforced technology in order to reinforce the metal shell of the BMW 7 series B-pillar. For this, BMW procures preforms made up of unidirectional carbon prepreg from Hexcel Corporation.
The prominent suppliers operating in the global continuous fiber composites market are Huntsman Corporation, Celanese Corporation, Chomarat, Cytec Solvay Group, Gurit Holding AG, Johns Manville, and Hexcel Corporation, among others. The key customers operating in the global continuous fiber composites are Daimler AG, ElringKlinger AG, Faurecia, Ford Motor Company, Jabil Circuit Inc., Magna International Inc., and Nike, Inc., among others.
Key questions answered in the report:
- What is the size, in terms of value ($million) and volume (kilotons) of global continuous fiber composites market in 2016, and growth rate during the forecast period, 2017-2022?
- What is the market size of different forms of CFC ($million and kilotons) and their growth rate during the forecast period, 2017-2022?
- How will each end-user industry of continuous fiber composites market grow during the forecast period and what will be the market size ($million and kilotons) of each of the end-user industry by the end of 2022?
- What is the market size for different regions and countries in terms of value and volume ($million and kilotons) in the continuous fiber composites market and their growth across the forecast period, 2017 to 2022?
- What is the market size for different forms by resin in terms of value and volume ($million and kilotons) in the continuous fiber composites market and their growth across the forecast period, 2017 to 2022?
- What is the market size for different end-user industry by form, resin, and region, in terms of value and volume ($million and kilotons) in the continuous fiber composites market and their growth across the forecast period, 2017 to 2022?
- What are the major driving forces that tend to increase the demand for continuous fiber composites market during the forecast period?
- What are the major challenges inhibiting the growth of the global continuous fiber composites market?
- What is the competitive strength of suppliers in the global continuous fiber composites market by analyzing through market share analysis?
- What are the key market suppliers of CFC in the market, along with their detailed analysis & profiles (including their financials, company snapshots, key products & services, geographical presence, existing alliances, and SWOT analysis)?
- What are the key market customers of CFC in the market, along with their detailed analysis & profiles (including their financials, company snapshots, sourcing, applications, and SWOT analysis)?
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