Global Closed Molding Composites Market, By Fiber Type (Glass Fiber Composites, Carbon Fiber Composites, Other Fiber Composites), Material Type (Resins, Reinforcements, Additives & Fillers, Core Materials, Surface Finishes), Manufacturing Process (Vacuum Infusion & Bagging, Compression Molding, Injection Molding, Reusable Bag Molding, Injection Molding, Pultrusion, Resin Transfer Molding, Others), Application (Transportation, Aerospace & Defense, Wind Energy, Electrical & Electronics, Construction, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Closed Molding Composites Market
Global closed molding composites market is expected to rise from its initial estimated value of USD 53.65 billion in 2018 to an estimated value of USD 94.26 billion by 2026, registering a CAGR of 7.3% in the forecast period of 2019-2026. This rising trend of market value can be attributed to the rising demand from various applicable industries due to the increasing benefits like reduction of weight which improves the efficiency of products.
Market Definition: Global Closed Molding Composites Market
Closed molding of composites is an 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 a number of different processes which are eco-friendly and help in reduction of emissions of volatile organic compounds. Due to the variety of applications of this method and benefits associated with the usage of materials formed from it, the market is expected to grow quite significantly.
Demand from Boeing for the production of aircraft is expected to positively impact the market growth as closed molding composite are used in more than 50% of the aircrafts, and with the increasing levels of production of aircrafts from boeing from 10-12 aircrafts per month in 2016. This rising levels of aircraft production is anticipated to reach 16 per month by 2019.
- Eco-friendly production methods and reduction in harmful emissions in the environment is one of the major drivers for the market growth
- Rise in demand from aerospace & defense industries is expected to drive the market growth
- High installation & set-up costs associated with the market is expected to restrain the market growth
- Fluctuation and high cost of raw materials required for the processing and production through this method is also expected to restrain the market growth
Segmentation: Global Closed Molding Composites Market
- By Fiber Type
- Glass Fiber Composites
- Carbon Fiber Composites
- Chopped Carbon Fiber
- Continuous Carbon Fiber
- Other Fiber Composites
- Aramid Fiber Composites
- Natural Fiber Composites
- By Material Type
- Additives & Fillers
- Core Materials
- Surface Finishes
- By Manufacturing Process
- Vacuum Infusion & Bagging
- Compression Molding
- Injection Molding
- Reaction Injection Molding
- Reusable Bag Molding
- Resin Transfer Molding (RTM)
- Light Resin Transfer Molding (LRTM)
- Vacuum Assisted Resin Transfer Molding (VARTM)
- Centrifugal Casting
- Continuous Lamination
- By Application
- Aerospace & Defense
- Wind Energy
- Electrical & Electronics
- Civil Engineering
- Sporting Goods
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
- North America
Key Developments in the Market
- In October 2018, Seeman Composites Inc. announced the acquisition of Material Sciences Corp, allowing for the company to expand its working portfolio and profile.
- In January 2018, Core Molding Technologies announced the acquisition of Horizon Plastics International Inc. expanding its technology base and expanding its products and sales avenues.
Competitive Analysis: Global Closed Molding Composites Market
Global closed molding composites market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of closed molding composites market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Key Market Competitors: Global Closed Molding Composites Market
Few of the major competitors currently working in the closed molding composites market are Koninklijke Ten Cate bv., Core Molding Technologies, STRONGWELL CORPORATION, Huntsman International LLC., Gurit, Scott Bader Company Ltd., TEIJIN LIMITED., A. Schulman Inc., MENZOLIT, GKN Aerospace, Polynt, Exel Group World Wide, SAERTEX GmbH & Co. KG, Chomarat, Molded Plastic Industries Inc., KraussMaffei Group, Seemann Composites Inc., and New Boston RTM.
Research Methodology: Global Closed Molding Composites Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request An Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key Market players involved in this industry
- Detailed analysis of the Market Segmentation
- Competitive analysis of the key players involved