Composite Laminates Market Size, Impacted by COVID-19, to Reach US$ 1.0 Billion in 2025, Says Stratview Research
DETROIT, June 11, 2020 /PRNewswire/ -- Stratview Research announces the launch of a new research report on Composite Laminates Market by End-Use Industry Type (Building & Construction, Recreational Vehicle, Transportation, and Others), by Matrix Type (Thermoset Composites {Polyester and Others} and Thermoplastic Composites), by Reinforcement Type (Glass Composites and Carbon Composites), by Process Type (Continuous and Discontinuous), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2020-2025.
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today's composite laminates market realities and future possibilities for the forecast period of 2020 to 2025. The report estimates the short- as well as long-term repercussions of the COVID-19 pandemic on the demand for composite laminates at the global, regional, as well as country level. Also, the report provides the possible loss that the industry will register by comparing pre-COVID and post-COVID scenario. The vital data/information provided in the report can play a crucial role for market participants as well as investors in formulating short-term as well as long-term growth strategies.
Composite Laminates Market: Highlights from the Report
The composite laminates market declined over the past five years (2014-2019), majorly due to the decline in the North American RV's shipments due to the impact of US-Sino Trade war in 2018-2019 and industrial recession in 2014-2015. While the market was looking for a recovery in the year 2020, the ongoing pandemic has deepened the existing challenges, such as declining shipment trends of RVs, especially in North America. A huge decline in construction activities due to the lockdown in several countries has further propagated the worsening market conditions. Also, according to International Monetary Fund (IMF), there will be an estimated cumulative loss of US$ 9 trillion in the global economy for the year 2020 and 2021, a key indicator that signposts huge impact on the growth of the major end-use industries including building & construction and recreational vehicles.
It is difficult to state when the impact of the pandemic starts to fade away. However, it is predicted that the demand for composite laminates would stabilize in 2021. Further, it is anticipated that the market will gradually recover from 2022 onwards, following a similar trendline registered during the great recession; however, the recovery may take a longer time than during that time. It is estimated that the composite laminates market will cross its 2019-sales figure by touching US$ 1.0 billion in sales in 2025.
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Based on the end-use industry type, building & construction is expected to remain the largest as well as the fastest-growing segment of the market during the forecast period. Composite laminates are marking an increased presence by replacing most of their arch-rival materials including PVC, aluminum, and finished gypsum. All the major players have vast product portfolio for targeting applications of the building & construction industry.
Recreational vehicles and transportation are other two major markets, occupying sizeable demand for composite laminates. Like building & construction, the outbreak of the pandemic is leaving a huge impact in these two major markets as well. Composite laminates have been the most preferred product among competing materials in recreational vehicles and have been gaining momentum in the transportation industry.
Based on the matrix type, thermoset composite is expected to remain the larger segment, whereas thermoplastic composite is likely to recover at a faster pace from 2021 onwards. Polyester composites held the majority share in 2019, owing to its low cost and adequate performance required in major end-use industries including building & construction and recreational vehicles.
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In terms of region, North America is expected to remain the largest market during the forecast period. However, the impact of COVID-19 in the North American region is more prolonged than in other regions. It is also anticipated that in the long run, the region will bounce back because of the strong supply chain in the USA. Asia-Pacific, a relatively small market, is projected to witness excellent growth after 2021. Building & construction is expected to drive the demand for composite laminates in the region. China, Japan, Australia, and India are projected to be the growth engines of the region's market.
The supply chain of this market comprises raw material suppliers, composite laminate suppliers, distributors, tier players, OEMs, RV manufacturers, and government and local authorities. Key players in the composite laminates market are Crane Composites, LAMILUX Heinrich Strunz Holding GmbH & Co. KG, Stabilit {America, Europa, and Suisse}, Brianza Plastica S.p.A., Vetroresina SpA, U.S. Liner Company (Uslco), Optiplan GmbH, Panolam Industries International, Inc., and Polser Fiberglass Reinforced Plastics Inc. Formation of long-term contracts, new product developments, and strategic alliances are the key strategies adopted by major players to gain a competitive edge in the market.
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis.
- Market environment analysis: Growth drivers and constraints, Porter's five forces analysis, SWOT analysis.
- Market trend and forecast analysis.
- Market segment trend and forecast.
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities.
- Emerging trends.
- Strategic growth opportunities for the existing and new players.
- Key success factors.
This report studies the composite laminates market and has segmented the market in five ways, keeping in mind the interest of all the stakeholders across the value chain. Following are the five ways in which the market is segmented:
Composite Laminates Market, By End-Use Industry Type:
- Building & Construction (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Recreational Vehicle (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Transportation (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Composite Laminates Market, By Matrix Type:
- Thermoset Composites
- Regional Analysis: North America, Europe, Asia-Pacific, and RoW
- Resin Type Analysis: Polyester and Others
- Polyester (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Thermoplastic Composites (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Composite Laminates Market, By Reinforcement Type:
- Glass Composites (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Carbon Composites (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Composite Laminates Market, By Process Type:
- Continuous Lamination Process (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Discontinuous Lamination Process (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Composite Laminates Market, By Region:
- North America (Country Analysis: The USA, Canada, and Mexico)
- Europe (Country Analysis: France, Germany, The UK, and Rest of Europe)
- Asia-Pacific (Country Analysis: China, Japan, Australia, and Rest of Asia-Pacific)
- Rest of the World (Sub-Region Analysis: Latin America, The Middle East, and Others)
Stratview Research has several high value market reports in the advanced materials industry. Please refer to the following link to browse through our reports:
https://www.stratviewresearch.com/market-reports/Advanced-Materials.html
Other related reports from Stratview Research:
Recreational Vehicle (RV) Composite Panels Market by Product Type (Towables and Motorized), by Application Type (Sidewall Panel, Slide-out Panel, Roof Panel, and Floor Panel), by Resin Type (Polyester Composite Panels, Epoxy Composite Panels, and Other Composite Panels), by Core Material Type (PS Foam, PU Foam, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Market Size, Share, Trend, Forecast, & Competitive Analysis: 2020-2025.
Composite Floor Panels Market by End-Use Industry Type (Aircraft, Rail, and Bus), by Core Material Type (Honeycomb Core, Foam Core, and Balsa Core), by End-User Type (OE and Aftermarket), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Market Size, Share, Trend, Forecast, & Competitive Analysis: 2020-2025.
About Stratview Research
Stratview Research is a global market intelligence firm providing wide range of services including syndicated market reports, custom research and sourcing intelligence across industries, such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas.
We have a strong team of industry veterans and analysts with an extensive experience in executing custom research projects for mid-sized to Fortune 500 companies, in the areas of Market Assessment, Opportunity Screening, Competitive Intelligence, Due Diligence, Target Screening, Market Entry Strategy, Go to Market Strategy, and Voice of Customer studies.
Stratview Research is a trusted brand globally, providing high quality research and strategic insights that help companies worldwide in effective decision making.
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