Global Closed Molding Composites Market, By Application (Transportation, Aerospace & Defense, Wind Energy, Electrical & Electronics, Construction, Others), Manufacturing Process (Vacuum Infusion & Bagging, Compression Molding, Injection Molding, Reusable Bag Molding, Injection Molding, Pultrusion, Resin Transfer Molding, Others), Material Type (Resins, Reinforcements, Additives & Fillers, Core Materials, Surface Finishes), Fiber Type (Glass Fiber Composites, Carbon Fiber Composites, Other Fiber Composites), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Closed molding composites market will grow at a rate of 5.45% for the forecast period of 2021 to 2028. Rising use of eco-friendly processes for manufacturing composites is a vital factor driving the growth of closed molding composites market.
Closed molding of composites is a type of automated heavy-set method of combining raw materials that are inserted into a closed mold or a vacuum bag that seals it off from the air. This method includes several different processes that are eco-friendly and help in the reduction of emissions of volatile organic compounds.
Increase in use of composites in the aerospace and defense industry is the vital factor escalating the market growth, also rising reduction in cycle time and labor costs, a rising variety of applications of this method and benefits associated with the usage of materials formed from the closed molding composites, rising eco-friendly production methods and reduction in harmful emissions in the environment, increase in demand from aerospace and defense industries and increasing advantages of closed molding processes over traditional molding processes such as improvement of productivity through innovative engineering approaches and minimization of energy consumption are the major factors among others driving the closed molding composites market. Moreover, the rise in the use of closed molding composites in new applications, increasing technological advancements in the production techniques and rising research and development activities will further create new opportunities for the closed molding composites market in the forecast period of 2021- 2028.
However, increased installation and set-up costs associated with the market and rising fluctuation and high cost of raw materials required for the processing and production through this method are the major factors among others acting as restraints, while rising need for reducing cost of carbon fiber will further challenge the growth of closed molding composites market in the forecast period mentioned above.
This closed molding composites market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on closed molding composites market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Closed Molding Composites Market Scope and Market Size
Closed molding composites market is segmented on the basis of application, manufacturing process, material type and fiber type. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- Based on application, the closed molding composites market is segmented into transportation, aerospace & defense, wind energy, electrical & electronics, construction and others. Transportation has been further segmented into interiors and exteriors. Aerospace and defence has been further segmented into interiors and exteriors. Construction has been further has been further segmented into industrial, housing and civil engineering. Others have been further segmented into marine and sporting goods.
- On the basis of manufacturing process, the closed molding composites market is segmented into vacuum infusion & bagging, compression molding, injection molding, reusable bag molding, injection molding, pultrusion, resin transfer molding and others.
- Based on material type, the closed molding composites market is segmented into resins, reinforcements, additives & fillers, core materials and surface finishes.
- The closed molding composites market is also segmented on the basis of fiber type into glass fiber composites, carbon fiber composites and other fiber composites. Carbon fiber composites have been further segmented into chopped carbon fiber and continuous carbon fiber. Other fiber composites have been further segmented into aramid fiber composites and natural fiber composites.
Closed Molding Composites Market Country Level Analysis
Closed molding composites market is analysed and market size, volume information is provided by country, application, manufacturing process, material type and fiber type as referenced above.
The countries covered in the closed molding composites market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the closed molding composites market due to rising demand from the wind energy, electrical & electronics, and construction applications along with regulatory norms requiring the use of eco-friendly materials in this region.
The country section of the closed molding composites market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Closed Molding Composites Market Share Analysis
Closed molding composites 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, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to closed molding composites market.
The major players covered in the closed molding composites market report are Core Molding Technologies, STRONGWELL CORPORATION, Huntsman International LLC., Gurit, Scott Bader Company Ltd., TEIJIN LIMITED., A. Schulman Inc., Core Molding Technologies, MENZOLIT, GKN Aerospace, Polynt, Exel Group World Wide, SAERTEX GmbH & Co. KG, Chomarat, Molded Plastic Industries Inc., KraussMaffei Group, New Boston RTM and Seemann Composites Inc., among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.