Pune, India, Oct. 10, 2023 (GLOBE NEWSWIRE) -- According to our new research study on “Composite Rollers Market Size, Share, Growth, Opportunity and Forecast to 2030 – COVID-19 Impact and Global Analysis – by Fiber Type, Resin Type, End Use, and Geography,” the composite rollers market size is expected to grow from US$ 177.42 million in 2022 to US$ 263.18 million by 2030; it is estimated to register a CAGR of 5.1% from 2022 to 2030. The predictable growth of the market is attributed to the increasing use of composite rollers in several end-use industries and the rising demand for lightweight and corrosion-resistant rollers.
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Global Composite Rollers Market: Competitive Landscape and Key Developments
Dongguan Precision Converting Transmission Co Ltd, Pronexos BV, Composite Conveyor Equipment Co, Carbon Light Pvt Ltd, PROK Pty Ltd, ADENTE Advanced Engineering Technologies, Lorbrand (Pty) Ltd, Double E Co LLC, HAHL GmbH, and Rossini SpA are a few players operating in the global composite rollers market.
Composite Rollers Market Report Scope, Segmentations, Regional & Country Scope:
| Report Coverage | Details |
| Market Size Value in | US$ 177.42 million in 2022 |
| Market Size Value by | US$ 263.18 million by 2030 |
| Growth rate | CAGR of 5.1% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
| No. of Pages | 182 |
| No. of Tables | 89 |
| No. of Charts & Figures | 69 |
| Historical data available | Yes |
| Segments covered | by Fiber Type, Resin Type, End Use, and Geography |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Oman, Russia, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Companies Covered | Dongguan Precision Converting Transmission Co Ltd, Pronexos BV, Composite Conveyor Equipment Co, Carbon Light Pvt Ltd, PROK Pty Ltd, ADENTE Advanced Engineering Technologies, Lorbrand (Pty) Ltd, Double E Co LLC, HAHL GmbH, and Rossini SpA |
In 2022, the global composite rollers market share for Asia Pacific was the largest. Asia Pacific composite rollers market is segmented into Australia, China, Japan, India, South Korea, and the Rest of Asia Pacific. Asia Pacific accounted for a considerable share of the composite rollers market. The market growth in the region is attributed to the growing paper & pulp, textile, and mining industries. Asia Pacific is the largest market for coal mining.
Countries in Asia Pacific have large manufacturing industries, such as textile, pulp & paper, and electronics. Asia Pacific manufacturing sector adopts highly advanced technologies and processes. Over the past decade, the spending of manufacturing companies in the region has grown significantly and is further anticipated to grow over the coming years. Further, government initiatives and policies such as “Make-in-India” encourage the setup of different manufacturing plants in India. The rising foreign direct investments are further leading to economic growth in the region. India, Japan, and China are among the major markets for composite rollers in Asia Pacific. The growing use of composite rollers in numerous end-use industries is expected to increase their demand in Asia Pacific.
Increasing Demand for Composite Rollers from Asia Pacific
Asia Pacific is one of the major countries in the global composite rollers market. The composite rollers market growth in the region is attributed to the increasing demand for composite rollers from paper & pulp, printing, mining, and other industries. In addition, many industries in the region adopt the product due to its various advantages such as lightweight, high strength, low noise, and requirement of low maintenance as compared to other products. In Asia Pacific, the increase in mining activities and growth of the packaging industry are also creating demand for composite rollers. Asia Pacific is one of the leading regions in coal mining. Australia, China, Indonesia, and India are some of the major countries in Asia Pacific in coal production. The growth in the paper & pulp industry is also positively influencing the demand for composite rollers in the region. The paper & pulp industry in China is the largest in the world by both production and demand. In India, the growth of e-commerce and food delivery services is driving the demand for pulp and paper products.
Composite Rollers Market: Segmental Overview
Based on resin type, the composite rollers market is segmented into thermoset and thermoplastics. The thermoset segment is further broken down into epoxy, polyurethane, and others. The thermoplastic segment is further broken down into polyethylene, polypropylene, polyvinyl chloride, and others. The composite rollers market share for the thermoplastics segment was the largest in 2022. Thermoplastic materials can further be molded into different shapes and structures, making them applicable in many end-use industries. Thermoplastic–matrix composites employed in many industries are frequently reinforced with E-glass fibers. Although carbon fibers possess lower density and can offer higher modulus, E-glass fibers are selected due to their low cost. Glass fibers are mainly incorporated in the thermoplastic–matrix in a diversity of forms such as randomly oriented short fibers, randomly oriented continuous fibers, randomly oriented long fibers, unidirectional continuous fibers, and bi-directional fabric.
Based on end use, the composite rollers market is segmented into mining, paper and pulp, textile, film and foil, printing, and others. The composite rollers market share for the paper and pulp segment was the largest in 2022. In the paper & pulp industry, the applications for composite rollers include guide rollers for screens or felts, paper guide rollers, shaken breast rollers, rollers for the dryer section, and calendar guide rollers. The pulp & paper industry is one of the largest industries and is growing globally. It is mainly dominated by North America, Asia Pacific, and European countries.
Key Developments
- In 2023, Rulmeca introduced the new Rulmeca composite roller. The newly launched product is a non-metallic roller designed for bulk-handling conveyors.
- In 2021, Pronexos launched a new range of wear-resistant composite coatings, Tonex, that will offer customers new cost-effective options for carbon fiber-reinforced plastic (CFRP) roller applications.
- In 2021, Pronexos produced very long carbon fiber rollers for cruise ship theatres.
- In 2023, EPSILON Composite, a manufacturer of carbon fiber rollers, partnered with Packone Solutions for the promotion and distribution of its products in India, Sri Lanka, Nepal, and Bangladesh.
- In 2022, Double E Company LLC acquired Daven Manufacturing LLC. With this acquisition, Double E Company LLC plans to broaden its reach into the production of the floor, continuing the mission to deliver productivity and safety solutions that will help solve operational challenges throughout the converting industry.
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Impact of COVID-19 on Composite Rollers Market
Before the COVID-19 pandemic, the market for composite rollers was mainly driven by its increasing use in paper & pulp, mining, textile, printing, and other industries. However, due to the pandemic, governments of various countries across the globe imposed country-wide lockdowns that directly impacted the composite rollers market growth. The shutdown of production facilities negatively impacted the composite rollers market growth in 2020. The pandemic introduced various economic challenges, hindering the composite rollers market growth in different regions. The pandemic provided opportunities for pulp & paper manufacturers in areas such as personal hygiene paper products, food packaging products, corrugated packaging materials, and medical specialty papers. This has positively impacted the composite rollers market growth.
The ease of lockdown measures helped various industries to regain momentum, which increased the demand for composite rollers. Further, various economies began reviving with the resumption of operations in different sectors in 2021. The composite rollers market is also improving with the increasing demand from various industries.
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