The report "Closed Molding Composites Market by Fiber Type (Carbon, Glass), Application (Aerospace & Defense, Transportation, Construction, Wind, E&E), Process (Vacuum Infusion & Bagging, Compression Molding, Pultrusion, Injection Molding) - Global Forecast to 2021", published by MarketsandMarkets, The market is projected to reach USD 66.58 Billion by 2021, registering a CAGR of 7.45%, between 2016 and 2021.
Browse 80 market data Tables and 51 Figures spread through 161 Pages and in-depth TOC on "Closed Molding Composites Market"
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The closed molding manufacturing processes, such as RTM and vacuum infusion, have enhanced the development of eco-friendly and reliable molding processes. These processes help in reducing volatile organic compound (VOC) emissions (styrene vapors) and, therefore, are increasingly used to manufacture closed molding composites. This demand is further driven by regulatory norms emphasizing on the use of lightweight and fuel-efficient materials.
Glass fiber composites comprise a major share in the closed molding composites market, in terms of value and volume
Glass fiber composites have the highest market share in the closed molding composites market owing to their use in construction, wind energy, and transportation applications. This is backed by their superior physical and mechanical properties such as strength, flexibility, durability, stability, and lightweight, as well as resistance to heat, temperature, and moisture.
Aerospace & defense is the largest application segment of the closed molding composites market, in terms of value
Closed molding composites find high usage in the aerospace industry, with 50% of aircraft materials being manufactured using closed molding composites. Vacuum infusion & bagging, compression molding, VARTM, and RTM are generally used for manufacturing composites used in this industry. The use of closed molding composites lowers the weight of aircraft, which helps improve their fuel efficiency. These factors increase the demand for improving the efficiency of closed molding composites used in aircraft, thus increasing their consumption in the industry.
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Asia-pacific accounts for a major share in the closed molding composites market
Asia-Pacific accounts for the largest share in the Closed Molding Composites Market owing to high demand from the wind energy, electrical & electronics, and construction applications in this region accompanied by regulatory norms requiring the use of eco-friendly materials. Growth of the wind energy industry in this region has increased the demand for producing lightweight closed molding composites. . The construction sector also drives the market, especially, in China and Japan. India is expected to become an important market for closed molding composites in the next five years due to growth of the end-use industries such as infrastructure, wind energy, transportation, and electrical & electronics.
Some of the key global players of the closed molding composites market are Continental Structural Plastics Inc. (U.S.), Core Molding Technologies (U.S.), Strongwell Corporation (U.S.), Royal TenCate N.V. (Netherlands), Menzolit GmbH (Germany), GKN Aerospace (U.K.), and others. These players have adopted various organic and inorganic developmental strategies in the past five years to maintain its position in the closed molding composites market.
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Closed Molding Composites market is an automated heavy-set method of combining raw materials that are inserted into a closed mold or a vacuum bag that seals it off from the air.
This method includes a number of different processes which are eco-friendly and help in reduction of emissions of volatile organic compounds.
Due to the variety of applications of this method and benefits associated with the usage of materials formed from it, the market is expected to grow quite significantly..Global closed molding composites market is expected to rise from its initial estimated value of USD 53.65 billion in 2018 to an estimated value of USD 94.26 billion by 2026, registering a CAGR of 7.3% in the forecast period of 2019-2026.
This rising trend of market value can be attributed to the rising demand from various applicable industries due to the increasing benefits like reduction of weight which improves the efficiency of products.Get Sample PDF (including COVID19 Impact Analysis) of Market Report @ https://www.databridgemarketresearch.com/request-a-sample/?dbmr=global-closed-molding-composites-marketMarket Drivers and Restraints:Eco-friendly production methods and reduction in harmful emissions in the environment is one of the major drivers for the market growthRise in demand from aerospace & defense industries is expected to drive the market growthHigh installation & set-up costs associated with the market is expected to restrain the market growthFluctuation and high cost of raw materials required for the processing and production through this method is also expected to restrain the market growth The major players covered in the Closed Molding Composites MarketFew of the major competitors currently working in the closed molding composites market are Koninklijke Ten Cate bv., Core Molding Technologies, STRONGWELL CORPORATION, Huntsman International LLC., Gurit, Scott Bader Company Ltd., TEIJIN LIMITED., A. Schulman Inc., MENZOLIT, GKN Aerospace, Polynt, Exel Group World Wide, SAERTEX GmbH & Co. KG, Chomarat, Molded Plastic Industries Inc., KraussMaffei Group, Seemann Composites Inc., and New Boston RTM.MAJOR TOC OF THE REPORTChapter One: Closed Molding Composites market OverviewChapter Two: Manufacturers ProfilesChapter Three: Global Closed Molding Composites market Competition, by PlayersChapter Four: Global Closed Molding Composites market Size by RegionsChapter Five: North America Closed Molding Composites market Revenue by CountriesChapter Six: Europe Closed Molding Composites market Revenue by CountriesChapter Seven: Asia-Pacific Closed Molding Composites market Revenue by CountriesChapter Eight: South America Closed Molding Composites market Revenue by CountriesGet Detail TOC@ https://www.databridgemarketresearch.com/toc/?dbmr=global-closed-molding-composites-marketKey Report HighlightsComprehensive pricing analysis based on different product types and regional segmentsMarket size data in terms of revenue and sales volumeDeep insights about regulatory and investment scenarios of the global Closed Molding Composites marketAnalysis of market effect factors and their impact on the forecast and outlook of the global Closed Molding Composites marketThe detailed assessment of the vendor landscape and leading companies to help understand the level of competition in the global Closed Molding Composites marketA roadmap of growth opportunities available in the global Closed Molding Composites market with the identification of key factorsThe exhaustive analysis of various trends of the global Closed Molding Composites market to help identify market developmentsKey Questions Answered in Report:What is the key to the Closed Molding Composites market ?What will the Closed Molding Composites market Demand and what will be Growth?What are the latest opportunities for Closed Molding Composites market in the future?What are the strengths of the key players?Access Full Report @ https://www.databridgemarketresearch.com/reports/global-closed-molding-composites-market About Us:Data Bridge Market Research set forth itself as an unconventional and neoteric Market research and consulting firm with unparalleled level of resilience and integrated approaches.
We are determined to unearth the best market opportunities and foster efficient information for your business to thrive in the marketContact:Data Bridge Market ResearchTel: +1-888-387-2818Email: [email protected] Related Reports@Matting Agents MarketMedicinal Chemistry for Drug Discovery MarketMelamine Formaldehyde Market
Global Closed Molding Composites Market was valued US$ 46.89 Bn in 2019 and is expected to reach US$ 72.98 Bn by 2027, at CAGR of 5.69% during forecast period.The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters.
The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
The advantages of closed molding processes over traditional molding processes such as improvement of productivity through innovative engineering approaches, minimization of energy consumption, and reduction of emission levels also drive the market.Based on application segment, aerospace & defense is estimated to hold the largest market share during forecast period.
This is likely to increase the demand for global closed molding composites market from Boeing, as they account for nearly 50% of the structural components of Boeing aircraft.On the basis of manufacturing process segment, Vacuum infusion & bagging is the most preferred closed molding process to manufacture composites and is estimated to hold largest market share during forecast period.
The process produces strong, lightweight laminates, and offers substantial emission reductions.
The construction sector also drives the market, especially, in China and Japan.
Growing awareness and numerous benefits of telematics, advancement in smartphones, high speed internet connectivity, and developed GPS receiver have changed the telematics business rapidly.
The factors such as reduction in the cost of connectivity and increasing market penetration of connected devices such as smartphones, and tablets are contributing to the burgeoning demand for connected cars.
The automotive telematics market by volume is estimated to witness a growth at a CAGR of 22.1% over the period of 2017 to 2025.Vehicular mishaps and rising occurrences of road accidents are expected to drive the global automotive telematics market through the next six years.
The market is expected to witness significant boost owing to serious concerns for minimizing human casualties and vehicular damages.
Major issues such as disoriented transits, need for effective vehicular mass transportation, and traffic congestions have occurred due to increased traffic on the road.
In case of a communication breakdown, these automotive systems are expected to tackle system failures over the forecast period owing to complete reliance on the digital networks.
