Organosheet Market worth $1.0 billion by 2028, at a CAGR of 12.0 % Globally, says MarketsandMarkets™

Chicago, March 05, 2024 (GLOBE NEWSWIRE) -- The Organosheet Market is projected to grow from USD 0.6 billion in 2023 to USD 1.0 billion by 2028, at a CAGR of 12.0% during the forecast period, as per the recent study by MarketsandMarkets™. Organosheet are natural polymeric materials that act as adhesives. They are of high molecular weight, biocompatible, biodegradable polymers, with natural content as ingredients. They offer notable performances in bonding and have potential applications in industrial as well as commercial high-tech applications.

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191 - Market Data Tables

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List of Key Players in Organosheet Market: 

1.  Ensinger (Germany)
2.  Toray Industries Inc. (Japan)
3.  Johns Manville (US)
4.  Haufler Composites (Germany)
5.  SGL Carbon SE (Germany)
6.  Profol GmbH (Germany)
7.  Lanxess AG (Germany)
8.  Porcher Industries (Germany)
9.  Kingfa Science & Technology Co. Ltd. (China)
10.  Mitsubishi Chemical Group Corporation (Japan)
11.  Teijin Limited (Japan)
12.  Avient Corporation (US)
13.  Kordsa Teknik Tekstil A.S. (Turkiye)
14.  BUFA(Germany)
15.  SABIC (Saudi Arabia)

Drivers, Opportunities and Challenges in Organosheet Market

1. Drivers: High durability and fatigue resistance
2. Restraint: High processing and manufacturing costs
3. Opportunity: High demand for electric vehicles
4. Challenge: Developing low-cost technologies

Key Findings of the Study:

1. Based on the application, the transportation segment is estimated to account for the highest CAGR in the organosheet market share during the forecast period.
2. Based on fiber type, carbon fiber is anticipated to register the highest CAGR in the organosheet market.
3. Europe to hold the largest market share during the forecast period.

The rising demand for lightweight materials that are sustainable and recyclable from various end-use industries is expected to drive the organosheet market. The primary growth drivers for this market are the aerospace & defense, sporting goods, and transportation industries, as well as the increased need for lightweight, environmentally friendly, and high-performance materials such as organosheets. Additional factors driving market expansion include corrosion resistance, a higher strength-to-weight ratio, lower maintenance, and a longer lifecycle than traditional materials like aluminum and steel.

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Based on fiber type, carbon fiber dominated the organosheet market. Carbon fiber-reinforced composites are popular in the aerospace industry because of their high specific strength and stiffness and their resistance to corrosion and fatigue. These properties are also desirable in the automotive industry. Still, carbon fiber composites have struggled to gain a significant share of the automotive materials market due to high material costs, slow production rates, and recyclability concerns. The use of lightweight fiber-reinforced composites in vehicles provides significant weight savings, which can lead to increased fuel efficiency. For example, a 10% decrease in vehicle weight is associated with a 6% reduction in fuel consumption for passenger vehicles.

Based on application, the transportation segment is expected to have the largest share of the organosheet market in 2022 by value. The automotive industry is undergoing a complete transformation as electrification gains traction. In addition to electrification, automotive manufacturers are working to reduce vehicle weight by building car parts with innovative materials such as Organosheet. Automotive engineers use Organosheet to design components that are strong enough to meet crash safety standards while remaining lightweight enough to improve energy efficiency. It can be used as structural reinforcements for vehicles, battery cases, bolsters, and other interior parts.

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Based on Region, Europe was the largest market for the carbon fiber in 2022, with Germany being the largest market in the region. The European market has seen a rise in the demand for lightweight and fuel-efficient vehicles, leading to a higher consumption of organosheets in the automotive industry. Additionally, the presence of a wide base of electric car manufacturers in Europe has led to an increased demand for organosheets, as these vehicles require lightweight materials for improved efficiency, and the export-oriented nature of its industries contribute to the dynamic growth and development of the organosheet market across Europe.

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