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July 30, 2020, 9:00 a.m. EDT

Global COVID-19 Impact On Composites market is expected to reach $149.94 billion by 2027

GAITHERSBURG, Md., July 30, 2020 /PRNewswire/ -- According to Stratistics MRC, the Global COVID-19 Impact On Composites Market is accounted for $90.60 billion in 2019 and is expected to reach $149.94 billion by 2027 growing at a CAGR of 6.5% during the forecast period.

Some of the key players in COVID-19 impact on composites market include Huntsman International LLC., TPI Composites, Inc, Hexagon Composites, Schulman, Owens Corning, Toray Industries, Inc., Teijin Limited, Mitsubishi Chemical Holdings Corporation, Hexcel Corporation, SGL Group, Nippon Electrical Glass Co. Ltd., Koninklijke Ten Cate bv., HITCO Carbon Composites, Inc., Solvay, Exel Composites, The Quadrant Group of Companies, Core Molding Technologies, Continental Structural Plastics, Menzolit GmbH, and GKN Aerospace.

Some of the key factors propelling the market growth include increasing use of composites in commercial aircraft, government stimulus packages, increase in the use of carbon fiber in wind blades, and low crude oil prices. However, impacts on supply chain and logistics lower capacity utilization are expected to restrain the market growth.

Request for sample here:  https://www.strategymrc.com/report/covid-19-impact-on-composites-market/request-sample

Composites which are in natural or synthetic form are also called as fiber-reinforced polymer (FRP) composites. These composites are obtained from a polymer matrix as these protects the fibers from any environmental and external damage which is strengthen with an engineered, man-made or natural fiber and then transfers the load between the fibers. Composite is a physical combination of two or more materials as to produce a combination of structural properties which is not present in any individual component.

By resin type, thermoset composites segment is expected to grow at the significant rate during the forecast period. Thermoset composites are very durable and low on maintenance because of their rigid inter-linking molecular structure, inert chemical composition, and resistance to ultraviolet and chemical attack. However, due to COVID- 19, the demand for thermoset resins from wind energy, automotive & transportation, aerospace & defense, pipes & tanks, and other industries is expected to decline.

Access the complete report at:  https://www.strategymrc.com/report/covid-19-impact-on-composites-market

On the basis of geography, APAC is the major consumer of composite owing to high demand from China, Japan, India, and other countries. Major end-use industries of composites in the APAC market include construction, automotive & transportation, aerospace & defense, and wind energy, among others. Advancements in technology, regulatory policies, and government norms are some of the major factors driving the composites market in APAC. However, the COVID-19 pandemic is expected to reduce the demand for composites in the region owing to continuous lockdown across various countries.

Make an inquiry at:  https://www.strategymrc.com/report/covid-19-impact-on-composites-market

Resin Types Covered:

  • Thermoplastic Composites

  • Thermoset Composites

Fiber Types Covered:

  • Ceramic Matrix Composites

  • Metal Matrix Composites

  • Polymer Matrix Composites

End Users Covered:

  • Construction & Infrastructure

  • Marine & Oil & Gas

  • Aerospace & Defense

  • Wind Energy

  • Electronics

  • Automotive & Transportation

Tech nologies Covered:

  • Filament Winding

  • Compression Molding

  • Pultrusion Process

  • Layup Process

  • Injection Molding

  • Resin Transfer Molding

  • Other Technologies

Regions Covered:

  • North America

  • Europe

  • Asia Pacific

  • South America

  • Middle East & Africa

What our report offers: - Market share assessments for the regional and country-level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 9 years of all the mentioned segments, sub-segments, and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Follow us on Twitter:  https://twitter.com/StratisticsMRC

Follow us on LinkedIn at:  https://www.linkedin.com/company/stratistics-market-research-consulting-pvt-ltd?trk=mini-profile

About Stratistics MRC We offer a wide spectrum of research and consulting services with in-depth knowledge of different industries. We are known for customized research services, consulting services, and Full-Time Equivalent (FTE) services in the research world. We explore market trends and draw our insights with valid assessments and analytical views. We use advanced techniques and tools among the quantitative and qualitative methodologies to identify the market trends.

Our research reports and publications are routed to help our clients to design their business models and enhance their business growth in the competitive market scenario. We have a strong team with hand-picked consultants including project managers, implementers, industry experts, researchers, research evaluators and analysts with years of experience in delivering the complex projects.

Contact Info: Name: Srikant Reddy
Email:  sales@strategymrc.com
Organization: Stratistics Market Research Consulting Pvt Ltd
Phone: +1-301-202-5929
Website:  https://www.strategymrc.com

 

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SOURCE Stratistics Market Research Consulting

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