Detroit, Nov. 22, 2024 (GLOBE NEWSWIRE) -- The global forged composite market is projected to witness a growth rate of 4.1% annually from 2024 to 2030, with an anticipated size of US$ 163 million by 2030, according to an analysis by Stratview Research.
Stratview Research, a global market research firm has launched a report on the global forged composite market which provides a comprehensive outlook of the global and regional industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.
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Report Highlights
| Market Size in 2030 (million US$) | 163 |
| Growth (CAGR) | 4.1% during 2024-2030 |
| Forecast Period | 2024-2030 |
| Trend Period | 2018-2022 |
| Base Year | 2023 |
| Number of Segments Covered | 3 |
| Number of Tables & Graphs | 60+ |
| Country-Level Market Assessment | 20 |
Segment Insights on the Forged Composite Market:
The global forged composite market is segmented based on resin type, end-user type, and region.
Based on resin type - The market is segmented into epoxy composite, vinyl ester composite, polyurethane composite, bismaleimide (BMI) composite, phenolic composite, and other composites. Between these sub-segments, the Epoxy resin is anticipated to continue to dominate the market during the forecast period, owing to factors such as being chemically balanced from a mechanical viewpoint since it exhibits high strength, stiffness, and bonding strength. It therefore becomes a material that can be applied universally in various applications in the forged composite market.
Based on the end-user type – The market is bifurcated into automotive, sports, consumer goods, industrial, and aerospace.
Among these sub-segments, the automotive is expected to remain the largest end-user type in the market. The manufacturing process for forged composites allows for the creation of complex shapes and intricate designs that are difficult to achieve with traditional materials. In addition to that, the unique appearance of forged composites can be leveraged in both visible parts and interior designs, adding to the aesthetic value of the vehicle.
To know the most attractive segments, click here for a free sample of the report:
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Which Region Shows the Most Promising Growth Forecast and Opportunity?
The analysis suggests that Europe is expected to remain the largest market for forged composite during the forecast period. This growth outlook is majorly attributed to the following–
- Europe took the largest share of the said market for several reasons. The region’s automotive and aerospace engineering industries have a record of innovation and experience in implementing forged composite products.
- Secondly, forcible emissions regulation norms in Europe make using forged composites inevitable to reduce overall emissions hence driving the overall market growth.
- Europe has a strong presence in the luxury automotive segment, which has been at the forefront of adopting advanced materials like forged composites for performance and aesthetic enhancements.
Likewise, Asia-Pacific is also likely to create sizeable opportunities, during the forecast period. There is a growing interest in sports and fitness activities across Asia-Pacific, leading to a higher demand for high-quality sports equipment such as golf clubs, tennis rackets, and bicycles, which benefit from the lightweight and strong properties of forged composites.
Forged Composite Market Drivers:
Some of the key drivers listed in the report are given below.
- Rising demand for lightweight materials in automotive, aerospace, and sporting goods, improved production methods, emission control policies, and extensive R&D.
- Furthermore, due to its refined aesthetics, non-corrosive nature, skin-safe properties, low coefficient of thermal expansion, high dimensional accuracy, and water-proof nature, forged composite is being used in various lifestyle applications such as luxury watches and high-end mobile phone components and related accessories.
Top Companies in the Forged Composite Market:
The market is partially fragmented across the region. Most of the major players compete in some of the governing factors including price, service offerings, regional presence, etc. Stratview Research has identified the following companies as the top market players (based on dominance).
- Callaway Golf
- Forged Carbon (Tecalemit Group)
- Mansory Design & Holding GmbH
- Action Composites
- Innovative Composite Engineering Inc.
- Real Carbon Inc.
- Bulgari
- Modern Composites Ltd.
What Deliverables Will You Get in this Report?
| Key questions this report answers | Relevant contents in the report |
| How big is the sales opportunity? | In-depth analysis of the Forged Composite Market |
| How lucrative is the future? | Market forecast and trend data and emerging trends |
| Which regions offer the best sales opportunities? | Global, regional, and country-level historical data and forecasts |
| Which are the most attractive market segments? | Market segment analysis and forecast |
| Who are the top players and their market positioning? | Competitive landscape analysis, Market share analysis |
| How complex is the business environment? | Porter’s five forces analysis, PEST analysis, Life cycle analysis |
| What are the factors affecting the market? | Drivers & challenges |
| Will I get the information on my specific requirements? | 10% free customization |
For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com
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