PORTLAND, Ore., July 28, 2020
Increase in demand for composite in the automotive industry, emerging end-use applications of fiber composites and environmental advantages, and surge in demand for epoxy composite from wind energy industry fuel the growth of the global Epoxy composite market
PORTLAND, Ore., July 28, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Epoxy Composite Market by Fiber Type (Glass, Carbon, and Others) and End-Use Industry (Aerospace & Defense, Automotive, Electrical & Electronics, Wind Energy, Sporting Goods, Marine, Piping, and Others): Global Opportunity Analysis and Industry Forecast 2020–2027"According to the report, the global Epoxy composite industry was estimated at $16.4 billion in 2019, and is expected to hit $24.2 billion by 2027, registering a CAGR of 5.1% from 2020 to 2027.
Drivers, restraints, and opportunities-
Increase in demand for composite in the automotive industry, emerging end-use applications of fiber composites and environmental advantages, and surge in demand for epoxy composite from wind energy industry fuel the growth of the global Epoxy composite market. On the other hand, expensive and complex carbon fiber manufacturing process impedes the growth to some extent. However, increase in adoption of composite from different industries is expected to create lucrative opportunities in the industry.
Request Sample Report at: https://www.alliedmarketresearch.com/request-sample/6993
The glass segment to lead the trail by 2027-
Based on type, the glass segment contributed to more than three fifths of the global epoxy composite market share in 2019, and is expected to rule the roost by the end of 2027. This is attributed to increase in demand for glass fiber from transportation, wind energy, and aerospace & defense industries. Nevertheless, the carbon segment would register the fastest CAGR of 7.6% during the study period. The market growth is attributed to the increased demand from applications where lightweight and superior performance is necessary, such as components for aircraft, automobile, rail, and consumer goods of high quality.
Get Detailed COVID-19 Impact Analysis on the Epoxy Composite Market @ https://www.alliedmarketresearch.com/request-for-customization/6993?reqfor=covid
The automotive segment to dominate during the estimated period-
Based on application, the automotive segment accounted for more than one-fifth of the global epoxy composite market revenue in 2019, and is anticipated to retain its top status till 2027. Furthermore, the segment would also portray the fastest CAGR of 6.0% from 2020 to 2027. Advantages offered by epoxy composites, such as lightweight, durability, and mechanical strength increases the efficiency of the automotive, in turn, drives the growth of the segment.
Asia-Pacific to rule the roost in terms of revenue, North America to grow at a significant pace-
Based on geography, Asia-Pacific held the major share in 2019, generating nearly two-fifths of the global epoxy composite market. In addition, the region would manifest the fastest CAGR of 6.3% by 2027. This is due to the presence of increasing automotive, wind energy, and aerospace & defense industries in the region. Furthermore, the presence of large epoxy composite manufacturers, rapid urbanization, and growing economy in the region also fuel the market growth in this region. Moreover, North America is anticipated to portray the CAGR of 5.0% from 2020 to 2027.
Frontrunners in the industry-
Interested in Procuring this Report? visit: https://www.alliedmarketresearch.com/purchase-enquiry/6993
Avenue Basic Plan | Library Access | 1 Year Subscription |
Sign up for Avenue subscription to access more than 12,000+ company profiles and 2,000+ niche industry market research reports at $699 per month, per seat. For a year, the client needs to purchase minimum 2 seat plan.
Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenue/trial/starter
Get more information: https://www.alliedmarketresearch.com/library-access
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
David Correa5933 NE Win Sivers Drive
#205, Portland, OR 97220
Toll Free: 1-800-792-5285
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Follow Us on: LinkedIn Twitter