Canada Composite Repair Market, By Material (Carbon Fiber, Fiber Glass, Quartz, Kevlar, Others), Type (Cosmetic, Resin Injection, Semi-Structural Plug/Patch, Structural Mechanically–Fastened Doubler, Structural Bonded External Doubler and Structural Flush Repair), Industry (Aerospace, Automotive, Marine, Oil and Gas, Chemical, Petrochemical, Power, Water Utilities and Others) Industry Trends and Forecast to 2027
Market Analysis and Insights: Canada Composite Repair Market
Canada composite repair market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing with a CAGR of 5.0% in the forecast period of 2020 to 2027 and expected to reach USD 567,670.56 thousand by 2027.
Composite repair is a qualified repair technology which is used for repairing of composite parts which are manufactured from composite materials. Composite material includes different components in particular proportion. Composite repair helps to regain strength and also cover cracks and dint on the structure.
- In the automotive industry, use of composite plastics and other material such as carbon fiber, sheet-molded compound (SMC) and fiberglass in vehicle construction is increasing due to which the demand of the composite repair of composite material is increasing. Composite repair increases the strength of the fiber glass and heat resistance of the outer surface of the vehicle but the change in temperature can affect the chemical composition of carbon particles which are used in composite repair in several industries. In aviation sector, large structure are made up of composite material which can be repaired with the high temperature composite repair at a faster speed but it can result in void formation of chemicals which have effects on mechanical performance of joint on the surface.
This composite repair market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Canada Composite Repair Market Scope and Market Size
Composite repair market is segmented into three notable segments which are based on the basis of material, type and industry. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of material, the composite repair market is segmented into carbon fiber, fiber glass, quartz, kevlar and others. In 2020, fiber glass segment is dominating in the material segment in the composite repair market as the material is non-corrosive which increases its usage in the automotive industry leading to more demand in the country.
- On the basis of type, the composite repair market is segmented into cosmetic, resin injection, semi-structural plug/patch, structural mechanically–fastened doubler, structural bonded external doubler and structural flush repair. In 2020, cosmetic segment is dominating in the type segment in composite repair market as cosmetic repair makes several overlaps on the defected surface and increases the strength of the structure which increases its demand in the country.
- On the basis of industry, the composite repair market is segmented into aerospace, automotive, marine, oil and gas, chemical, petrochemical, power, water utilities and others. In 2020, aerospace segment is dominating in the industry segment in composite repair market due to increasing medical tourism which increases the demand of aerospace in the country.
Increasing Technological Advancements in Composite Repair
Canada composite repair market also provides you with detailed market analysis for every country growth in industry with sales, components sales, impact of technological development in composite repair and changes in regulatory scenarios with their support for the composite repair market. The data is available for historic period 2010 to 2018.
Competitive Landscape and Canada Composite Repair Market Share Analysis
Composite repair market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies’ focus related to composite repair market.
The major players covered in the report are Comtek Advanced Structures Ltd. (A Subsidiary of Avcorp Industries Inc.), Aircraft Composite, Innovator Industrial Services, GA Telesis, LLC, Advanced Composite Structures Inc., Lufthansa Technik, STORK, Dallas Aeronautical Services, West Star Aviation, LLC, Hydratight Limited (A Subsidiary of Actuant Corporation), Hong Kong Aircraft Engineering Company Limited, CanWest AeroSpace, AIM ALTITUDE, SATTO, and Hexcel Corporation among other domestic and global players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many product developments are also initiated by the companies worldwide which are also accelerating the growth of composite repair market.
- In April 2020, Lufthansa Technik extended its Engine MRO contract with BOC Aviation. The extension of contract is expected to help the company to add its services for LEAP-1A and the GEnx-2B models apart from CFM56-5B/-7B, CF6-80, V2500, CF34 and Trent 700 models.
- In March 2019, Comtek Advanced Structures Ltd. opened a new repair center in the U.K. to bring Comtek-quality repair solutions closer to operators in Europe and Middle East and Africa. The expansion has helped the company to increase revenue from European and Middle East and African region.
Collaboration, joint ventures and other strategies by the market players is enhancing the company market in the composite repair market which also provides the benefits for organisation to improve their offering for composite repair.