Dublin, April 18, 2023 (GLOBE NEWSWIRE) -- The "Composite Textiles Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The long-term outlook is expected to be rosy with healthy growth of 5.9% (CAGR) in the coming five years, pushing the market to reach a new milestone of US$ 9.5 billion in 2028.
There are more than 50 global and regional players, engaged in supplying composite textiles with a few players holding a distinct position in the market.
Key market participants have a wide-geographical presence and also gained excellent brand identity after dedicating eons of market presence and efforts to research & development. Composite textiles have gained significant interest as structural materials in many end-use industries owing to their value proposition and their unique combination of damage tolerance, delamination, and free and complex shape formability.
During the pandemic, when most industries were registering a huge decline, composite textiles got efficacious in dodging its impact. In the year 2020, the composite textiles market witnessed a mere decline of -1.7% amid the pandemic. The impact of the pandemic varied from industry to industry; however, a sharp rise in wind turbine installations ultimately helped the industry stakeholders to mark a low plunge, keeping other composite materials in mind.
Several factors are driving the demand for composite textiles out of which increasing penetration of composite materials in various end-use markets, increasing demand for lightweight materials, and increasing preference for composite textiles in large-sized applications such as boat hulls and wind turbine blades are expected to fuel the demand for composite textiles during the forecast period.
Recent Market JVs and Acquisitions:
Woven yarn is expected to remain the largest textile type in the market during the forecast period. There is a huge dominance of woven yarn in the electrical and electronics (E&E) industry, primarily used for making PCB laminates. Furthermore, the demand for carbon fiber textiles (usually sold in the form of woven yarn) is accelerating in most of the major markets including aerospace and wind energy.
Carbon fiber textile is expected to be the fastest-growing material type during the forecast period. Major factors driving the growth of carbon fiber textiles are the increasing demand for carbon composites from aerospace and wind turbine blades. Carbon fiber textiles offer a multitude of advantages compared with their competing materials including glass fiber textiles and metals in which weight reduction is the biggest one.
In terms of regions, Asia-Pacific is expected to remain the largest market for composite textiles during the forecast period. This region has the presence of major composite textile manufacturers, such as China Jushi Co. Ltd.; Nan Ya Plastics Corp.; Toray Industries; Inc.; and Chongqing Polycomp International Corp.
China alone registers more than one-third of the global sales in 2022. The high penetration of the wind energy industry in China has partially offset the overall market decline in the country. Europe is estimated to be the fastest-growing region during the forecast period, driven by an increased focus on wind energy and strong demand for lightweight parts for the automobile industry.
Key Players
The market is highly populated with the presence of several local, regional, and global players. Most of the major players compete in some of the governing factors including price, product offerings, regional presence, etc.
The following are the key players in the composite textiles market.
- China Jushi Co., Ltd.
- Chomarat Group
- Chongqing Polycomp International Corporation
- Hexcel Corporation
- Nan Ya Plastics Corporation
- Nippon Electric Glass Co. Ltd.
- Owens Corning
- Porcher Industries SA
- Preiss-Daimler Group
- SAERTEX GmbH & Co. KG
- Sigmatex Limited
- Toray Industries, Inc.
Key Topics Covered:
1. Executive Summary
2. Composite Textiles Market Environment Analysis
2.1. Supply Chain Analysis
2.2. PEST Analysis
2.3. Industry Life Cycle Analysis
2.4. Market Drivers
2.5. Market Challenges
3. Composite Textiles Market Assessment (2017-2028) (US$ Million and Million Lbs)
3.1. Reinforcement Market Trend and Forecast (US$ Million and Million Lbs)
3.2. Composite Textiles Market Trend and Forecast (US$ Million and Million Lbs)
3.3. Market Scenario Analysis: Growth Trajectories in Different Market Conditions
3.4. COVID-19 Impact Assessment and Expected Recovery Curve
4. Composite Textiles Market Segment Analysis (2017-2028) (US$ Million and Million Lbs)
4.1. Textile-Type Analysis
4.1.1. Perform: Regional Trend and Forecast (US$ Million and Million Lbs)
4.1.2. CSM: Regional Trend and Forecast (US$ Million and Million Lbs)
4.1.3. CFM: Regional Trend and Forecast (US$ Million and Million Lbs)
4.1.4. Woven Roving: Regional Trend and Forecast (US$ Million and Million Lbs)
4.1.5. Woven Yarn: Regional Trend and Forecast (US$ Million and Million Lbs)
4.1.6. Multi-Axials: Regional Trend and Forecast (US$ Million and Million Lbs)
4.2. Material-Type Analysis
4.2.1. Glass Fiber Textile: Regional Trend and Forecast (US$ Million and Million Lbs)
4.2.2. Carbon Fiber Textile: Regional Trend and Forecast (US$ Million and Million Lbs)
4.2.3. Others: Regional Trend and Forecast (US$ Million and Million Lbs)
4.3. End-Use-Industry-Type Analysis
4.3.1. Aerospace & Defense: Regional Trend and Forecast (US$ Million and Million Lbs)
4.3.2. Marine: Regional Trend and Forecast (US$ Million and Million Lbs)
4.3.3. Transportation: Regional Trend and Forecast (US$ Million and Million Lbs)
4.3.4. Building & Construction: Regional Trend and Forecast (US$ Million and Million Lbs)
4.3.5. Consumer Goods: Regional Trend and Forecast (US$ Million and Million Lbs)
4.3.6. Electrical & Electronics: Regional Trend and Forecast (US$ Million and Million Lbs)
4.3.7. Pipes & Tanks: Regional Trend and Forecast (US$ Million and Million Lbs)
4.3.8. Wind Energy: Regional Trend and Forecast (US$ Million and Million Lbs)
4.3.9. Others: Regional Trend and Forecast (US$ Million and Million Lbs)
4.4. Regional Analysis
5. Competitive Analysis
5.1. Market Consolidation Level
5.2. Competitive Landscape
5.3. Market Share Analysis
5.4. Product Portfolio Analysis
5.5. Geographical Presence
5.6. New Product Launches
5.7. Strategic Alliances
5.8. Porter's Five Forces Analysis
6. Strategic Growth Opportunities
6.1. Market Attractiveness Analysis
6.1.1. Market Attractiveness by Textile Type
6.1.2. Market Attractiveness by Material Type
6.1.3. Market Attractiveness by End-Use Industry Type
6.1.4. Market Attractiveness by Region
6.1.5. Market Attractiveness by Country
6.2. Emerging Trends
6.3. Strategic Implications
6.4. Key Success Factors (KSFs)
7. Company Profile of Key Players
For more information about this report visit https://www.researchandmarkets.com/r/pt1p4q
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
