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“The composite film market is projected to register a CAGR of 6.0% during the forecast period.”
The global composite film market size is projected to grow from USD 245 million in 2020 to USD 328 million by 2025, at a Compound Annual Growth Rate (CAGR) of 6.0% between 2020 and 2025. In comparison to conventional materials such as aluminum steel, composite films offer strength, tenacity, density, and thermal and electrical conductivity, fatigue, and corrosion resistance properties. As such, composite films are preferred in high-performance applications in several end-use industries, driving the demand for composite films in various end-use industries.
“Epoxy resin films are the fastest-growing resin film type of composite film market in terms of value.”
Epoxy resin films are projected to register the highest CAGR in terms of value between 2020 and 2025. Epoxy resins are thermoset resins known for their excellent mechanical, electrical, and high heat resistance properties. They are also available in a wide range of curing-agent variations. As they have a fast curing time in comparison to other resins, they are the preferred choice among the manufacturers. This factor drives the market growth of the epoxy resin film market.
“Autoclave curing type is the largest curing type segment of composite film, in terms of value and volume.”
Autoclave curing type is the largest curing type segment in the composite film market. Autoclave curing type produces denser, and void-free molding because high heat and pressure are used for curing. High demand for autoclave exists in the composite film market as it helps in the production of high-value composite films that are widely used in the aerospace industry to fabricate high strength-to-weight ratio parts for aircraft. This is expected to drive the market for autoclave curing during the forecast period.
“Lightning strike protection is the fastest-growing function in the composite film market in terms of value.”
The lightning strike protection function is projected to register the highest CAGR in terms of value between 2020 and 2025. The composite film protects the aircraft’s composite structures from lightning strikes. Growth in the aerospace & defense industry would increase the demand for lightning strike protection composite film
“Aerospace & defense is the largest end-use industry of composite film, in terms of value.”
The aerospace & defense end-use industry held the largest market share in 2019. According to Boeing’s Commercial Market Outlook 2019–2038, airline passenger traffic will grow at a CAGR of 4.7% per year. This will lead to the rise in demand for more than 44,004 deliveries of new commercial aircraft in the next 20 years to cater to the demand in the coming two decades. 39% of all new aircraft will be delivered to airlines in the APAC region alone, whereas another 41% will go to carriers in North America and Europe, which in turn will increase the demand for composite films.
“North America dominated the composite film market.”
North America is the largest composite film market in terms of value and volume in the global composite film market. APAC dominated the composites industry in 2018. The key reason for this includes the demand for composite films in the aerospace & defense industry in the region. The demand for composite films in aerospace & defense, automotive, and other industries is projected to grow due to product innovation and technological advances. The growth of the composite film industry in this region is further boosted by improved composite technology solutions and market penetration of composite films in various end-use industries.
This study has been validated through primaries conducted with various industry experts, globally. These primary sources have been divided into the following three categories:
- By Company Type- Tier 1- 35%, Tier 2- 40%, and Tier 3- 25%
- By Designation- C Level- 25%, Director Level- 35%, and Others- 40%
- By Region- North America- 20%, Europe- 35%, APAC- 25%, Latin America-5%, MEA-15%,
The report provides a comprehensive analysis of company profiles listed below:
- 3M (US)
- Henkel AG Co. KGaA (Germany)
- Hexcel Corporation (US)
- Gurit (Switzerland)
- Solvay (Belgium)
- Toray Industries, Inc. (Japan)
- Socomore (France)
- Park Aerospace Corp. (US)
- Axiom Materials Inc. (US)
This report covers the global composite film market and forecasts the market size until 2025. The report includes the following market segmentation – Resin Film Type (Epoxy and Other), Curing Type ( Autoclave, and Out-of-autoclave), Function Type (Lightning Strike Protection, Surface Protection, and Others), End-use Industry (Aerospace & Defense, Automotive, and Others) and Region (Europe, North America, APAC, Latin America, and MEA). Porter’s Five Forces analysis, along with the drivers, restraints, opportunities, and challenges, have been discussed in the report. It also provides company profiles and competitive strategies adopted by the major players in the global composite film market.
Key benefits of buying the report:
The report is expected to help market leaders/new entrants in this market in the following ways:
- This report segments the global composite film market comprehensively and provides the closest approximations of the revenues for the overall market and the sub-segments across different verticals and regions.
- The report helps stakeholders understand the pulse of the composite film market and provides them with information on key market drivers, restraints, challenges, and opportunities.
- This report will help stakeholders to understand competitors better and gain more insights to better their position in their businesses. The competitive landscape section includes the competitor ecosystem, new product development, agreement, and acquisitions.
Reasons To Buy the report:
- The report will help market leaders/new entrants in this market by providing them with the closest approximations of the revenues for the overall composite film market and the sub-segments.
- This report will help stakeholders to understand the competitive landscape and gain more insights and position their businesses and market strategies in a better way.
- The report will also help stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.