Market Trends of Fiber Reinforced Composites Industry
This section covers the major market trends shaping the Fiber Reinforced Composites Market according to our research experts:
Aerospace Industry is likely to Witness the Highest Growth
- The demand for fuel-efficient and long haul aircraft is the major driving factor for the carbon fiber composite industry.
- Use of carbon fiber composites in wings can reduce the weight of the aircraft by around 50,000 pounds. It offers superior strength to weight ratio, high chemical resistance, high stiffness and low thermal expansion. Also, its mechanical properties can be tailored to the application.
- The use of composite materials in commercial transport aircraft is lucrative as the reduced airframe weight enables better fuel economy and therefore lowers operating costs.
- Reduced maintenance and longer design life, fewer parts, and reduced tooling and assembly costs are some of the reasons driving the market for carbon fiber in the aerospace industry.
- Hence, owing to the above-mentioned reasons, aerospace industry is expected to witness the highest growth during the forecast period.
Understand The Key Trends Shaping This Market
Download Sample
North America to Dominate the Market
- North America has emerged as one of the largest fiber reinforced composites markets in the recent years.
- The building & construction industry represents the major outlet for fiber reinforced composite(FRC)s and is expected to provide the best opportunities for the growth of the market during the forecast period.
- This region is expected to register the highest demand for FRC, owing to the increasing demand from aerospace and defense , wind turbine, and sports/leisure industries.
- Large concentration of aircraft makers such as Airbus and automobile giants in this region are expected to drive the market in this region.
- Hence, owing to the above-mentioned factors, North America is expected to dominate the market during the forecast period.
Get Analysis on Important Geographic Markets
Download Sample
