Global Closed Molding Composites Market – Industry Analysis and Forecast (2019-2027)
Global Closed Molding Composites Market was valued US$ 46.89 Bn in 2019 and is expected to reach US$ 72.98 Bn by 2027, at CAGR of 5.69% during forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
The major driver in the global closed molding composites market is high request from the aerospace & defense industry, as they have the ability to reduce weight and increase fuel efficiency. The advantages of closed molding processes over traditional molding processes such as improvement of productivity through innovative engineering approaches, minimization of energy consumption, and reduction of emission levels also drive the market.
Based on application segment, aerospace & defense is estimated to hold the largest market share during forecast period. Because of the factors like rise in monthly production of Boeing’s 787 from 10 aircraft to 12 aircraft. This is likely to increase the demand for global closed molding composites market from Boeing, as they account for nearly 50% of the structural components of Boeing aircraft.
On the basis of manufacturing process segment, Vacuum infusion & bagging is the most preferred closed molding process to manufacture composites and is estimated to hold largest market share during forecast period. This is because of its use in manufacturing components for aerospace & transportation, defense, and wind energy applications. The process produces strong, lightweight laminates, and offers substantial emission reductions. The demand for closed molding composites manufactured by compression molding process is increasing in applications such as transportation, construction, and electrical & electronics, as they require good surface finish and non-corrosive properties, which are provided by these composites.
In terms of region, Asia-Pacific is estimated to hold largest market share during forecast period. Because of high demand from the wind energy, electrical & electronics, and construction applications in this region accompanied by regulatory norms requiring the use of eco-friendly materials. Growth of the wind energy industry in this region has improved the demand for producing lightweight closed molding composites. . The construction sector also drives the market, especially, in China and Japan. India is expected to become an important market for global closed molding composites market in the next five years because of growth of the end-use industries like infrastructure, transportation, wind energy, and electrical & electronics.
This report focuses on global closed molding composites market volume and value at global level, regional level and company level. From a global perspective, this report represents overall global closed molding composites market size by analyzing historical data and future prospect. Regionally, this report focuses on several key regions. North America, Europe, China and Japan. At business level, this report focuses on the production capacity, ex-factory price, and revenue and market share for each manufacturer covered in this report.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding global closed molding composites market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in global closed molding composites market.
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Scope of the Global Closed Molding Composites Market
Global Closed Molding Composites Market, By Fiber Type
• Carbon Fiber Closed Molding Composites
• Glass Fiber Closed Molding Composites
• Other Fiber Closed Molding Composites
Global Closed Molding Composites Market, By Application
• Transportation
• Aerospace & Defense
• Electrical & Electronics
• Wind Energy
• Construction & Infrastructure
• Other Applications
Global Closed Molding Composites Market, By Manufacturing Process
• Vacuum Infusion & Bagging
• Injection Molding Process
• Pultrusion Process
• Compression Molding Process
• Resin Transfer Molding Process
• Other Processes
Global Closed Molding Composites Market, By Region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
Key players operating in Global Closed Molding Composites Market
• A. Schulman, Inc.
• Royal Tencate N.V.
• Polynt S.P.A
• Exel Composites
• Core Molding Technologies, Inc.
• Strongwell Corporation
• Menzolit GmbH
• Continental Structural Plastics, Inc.
• Saertex
• GKN Aerospace
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