Covina, Oct. 16, 2023 (GLOBE NEWSWIRE) -- Continuous fiber composites are advanced materials that are composed of a continuous fiber reinforcement embedded within a matrix material, typically a polymer, metal, or ceramic. These composites offer superior mechanical properties, including high strength, stiffness, and durability, making them suitable for a wide range of applications.
Continuous fiber composites are used in wind turbine blades and other renewable energy applications. As the demand for clean energy solutions grows, the Continuous Fiber Composites Market will expand.
Key Highlights –
- In October 2021, Lanxess launched a new, fully bio composite material in its Tepex range of continuous fiber-reinforced thermoplastic composites, in an effort to remove the reliance of fossil fuels from its own production processes. The material, which can be made on a massive scale, blends bio-based polylactic acid, which serves as the matrix, with natural flax fibers.
Analyst View –
Continuous fiber composites are widely used in the sports equipment industry, including tennis rackets, golf clubs, and bicycle frames. As more consumers engage in recreational and sports activities, this market segment is expected to see growth. These composites are used in civil engineering for applications like bridges and reinforcing structures. The demand for innovative and durable construction materials is expected to drive growth in this sector.
| Attributes | Details |
| Continuous Fiber Composites Market Value (2022) | US$ 2.55Bn |
| Continuous Fiber Composites Market Projected Value (2032) | US$ 5.1Bn |
| Continuous Fiber Composites Market CAGR (2022 – 2032) | 6.8% |
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Market Dynamics:
- Growing Demand in Various Industries:
Continuous fiber composites, which are made by reinforcing a matrix material with continuous fibers such as carbon, glass, or aramid, find applications in industries like aerospace, automotive, construction, and sports equipment due to their lightweight, high-strength properties.
- Lightweighting Trend:
There's a strong industry-wide trend toward lightweighting in sectors like automotive and aerospace, where continuous fiber composites play a critical role in reducing the weight of components and structures, thereby improving fuel efficiency and performance.
- Strength and Durability:
Continuous fiber composites offer superior strength and durability compared to traditional materials like metals and plastics, making them attractive for applications requiring high mechanical performance.
- Environmental Concerns:
Sustainability concerns have prompted research and development efforts to produce continuous fiber composites from renewable and recyclable materials. This aligns with the growing demand for eco-friendly solutions.
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Competitive Landscape & their strategies of Continuous Fiber Composites Market:
The prominent players operating in the Continuous Fiber Composites Market includes,
- Celanese Corporation
- Huntsman Corporation
- Chomarat
- Cytec Solvay Group
- Gurit Holding AG
- Johns Manville
- Hexcel Corporation
- Daimler AG
- ElringKlinger AG
- Ford Motor Company.
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The reports help answering the following questions:
- What is the current size of the Continuous Fiber Composites Market in different regions?
- How is the Continuous Fiber Composites Market divided into different product segments?
- How are the overall market and different product segments growing?
- How is the market predicted to develop in the future?
- What is the market potential compared to other countries?
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