Global Epoxy Composites Market is Estimated to Observe USD 47.17 billion by 2028 : Fior Markets

Epoxy Composites Market by Fiber Type (Carbon, Glass), End Use (Defense & Aerospace, Electrical & Electronics, Automotive & Transportation, Sporting & Consumer Goods, Wind Energy), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2021 to 2028

Pune, INDIA


Newark, NJ, Oct. 21, 2021 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global Epoxy Composites market is expected to grow from USD 29.15 billion in 2020 and to reach USD 47.17 billion by 2028, growing at a CAGR of 6.2% during the forecast period 2021-2028.

The Epoxy Composites market is witnessing significant growth from the past years. This growth is attributed to the superior properties of the epoxy composite, such as its high strength, lightweight and durability, increase its applications in various industrial applications. Growing demand for epoxy composites in wind power, automotive and transportation, aerospace and defense and construction industries is expected to drive the market during the forecast period. Fiberglass-based epoxy composites offer better manufacturing adaptability, high durability and high strength to weight ratio, which increases the demand for epoxy composites in application industries such as wind power, petroleum and water gas, pipes and tanks, electricity and electronics and marine, among others.

Epoxy Composites is referred to as an essential composite with a wide range of applications in end-use industries such as automotive, aerospace and sports materials. Epoxy composites can be used to make lightweight materials, produced by combining a synthetic epoxy resin with woven glass fabric and a non-woven glass core. Epoxy resin is a popular thermosetting resin used in various composite parts and concrete repairs and structures due to its superior mechanical properties, lower shrinkage, corrosion resistance, excellent electrical properties and strong adhesion to materials.  Therefore, epoxy composites are increasingly used in structural applications. Epoxy resins are available in liquid, solid and semi-solid form and typically polymerize through amines or anhydrides.

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The global epoxy composites market is expected to witness significant growth, owing to expansion of the wind energy market in developing countries, increasing growing need for lightweight materials in the automotive and transportion industries, and increasing demand for composite materials in pipes and tanks and oil and gas applications, and increasing demand for end-use products such as consumer electronics and other end use industries wind power, pipes and tanks, electricity and electronics, oil and gas and marine. The factors restraining the market growth are high epoxy composites costs, high volatility of raw material, low per capita income of middle and problems related to recyclability in developing regions. Strategic investments in the economies with appropriate manufacturing conditions will provide market growth opportunities.

Key players operating in global epoxy composites market include Park Electrochemical Corporation, Polyone Corporation, Cytec Solvay Group, Hindoostan Composite Solutions, Teijin Limited, SGL Carbon, Toray Industries, Inc., Arkema, Huntsman Corporation LLC., Hexcel Corporation. To gain a significant market share in the global epoxy composites market, the key players are now focusing on adopting strategies such as end use innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership. Arkema Laboratories Inc. and Hexcel Corporation are some of the key manufacturers operating in epoxy composites market.

Glass segment dominated the market and held the largest market share of 56% in the year 2020

Based on fiber type, the global epoxy composites market is segmented into carbon, glass. The glass segment dominated the market and held the largest market share of 56% in the year 2020. This growth is attributed to the better characteristics such as low weight, high durability, superior fabrication adaptability and high bulk strength, increasing demand for lightweight electrical insulating composite materials that are resistant to chemicals and UV rays, and increasing wide application in end-use markets, including aeronautic, automotive and sports materials.

Automotive & Transportation segment dominated the market and held the largest market share of 23% in the year 2020

Based on end use, the global epoxy composites market is segmented into defense & aerospace, electrical & electronics, automotive & transportation, sporting & consumer goods, wind energy. The automotive & transportation segment dominated the market and held the largest market share of 23% in the year 2020. This growth is attributed to the increasing number of commercial and national markets because of its superior material attributes including durability and superior mechanical strength.

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Regional Segment of Epoxy Composites Market

  • North America (U.S., Canada, Mexico)
  • Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
  • Asia-Pacific (China, Japan India, Rest of APAC)
  • South America (Brazil and Rest of South America)
  • Middle East and Africa (UAE, South Africa, Rest of MEA)

Based on geography, the global epoxy composites market is classified into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. Asia-Pacific region holds the largest market share in the year 2021. This growth is ascertained by countries like India China in the Asia-Pacific region owing to the rapid expansion in wind energy sector in the country. The market in North America is expected to witness significant growth, owing to growing demand for epoxy composites for lightweight materials, primarily in fuel-efficient automotive designs and implementation of strict environmental regulations in the country in the country. The Europe region is witnessing significant growth, ascertaining the growing popularity of epoxy composite materials for the design of lightweight automotive components.

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About the report:

The global epoxy composites market is analysed based on value (USD billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insights of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitors’ position grid analysis.

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