Earlier, wood, cast iron, stone, copper, and brick materials were used in different industries such as automotive, aerospace & defense, wind energy, and construction industry. However, the usage of these materials poses certain problems such as low resistance to temperature, corrosion, heat and huge maintenance costs. To overcome such shortcomings, light materials such as Continuous Fibre composites are used. Over the last decade, these materials are used significantly owing to the various advancements in the technology. According to the latest market intelligence report by BIS Research titled, ‘Global Continuous Fibre Composite Market – Analysis and Forecast (2017-2022)’, the market is expected to reach $3.45 billion by 2022. The market is driven by stringent government regulations compelling the use of continuous fibre composites, superior properties as compared to the conventional materials, and rising demands for continuous fibre thermoplastic from various end-user industries.
Continuous Fibre composites are fibre reinforced polymer composites in which the length of the fibre is of magnitude larger than the width or thickness of the composite part. These composites are light in weight and possess the same strength as that of steel. Apart from the strength, composites have high fatigue resistance, stiffness retention under repeated loading. Based on the resin used, continuous fibre composite can be thermosetting or thermoplastic. Continuous fibre composites are segregated based on their form structure. Some of the composites are woven fabrics, non-crimp fabrics, unidirectional fibre tapes, and glass mats.
The rapid growth of the continuous fibre composite is owing to its extensive use in various industries such as aerospace & defense, automotive, construction, wind energy, and sporting goods. The continuous fibre composites are gaining popularity in the automotive industry due to their light weight and their ability to resist rust or corrosion, unlike steel and aluminum. These composites manage to reduce the vehicular weight by 50-60% and improve the fuel efficiency by 10-20%. Across the globe, the various leading manufacturers such as Mercedes-Benz, BMW, Lamborghini have faced environmental and regulatory pressure to reduce the weight of the vehicle and to increase the energy efficiency. This, in turn, led to the growth of the market for fibre composites.
The high cost of the carbon fibre composites is acting as an inhibitor for the growth of the continuous fire composites market. The end -users who cannot afford these materials are using cheaper substitutes of these materials such as carbon steel and iron and rely on the government subsidies. However, carbon fibre composites are in high demand, on a global scale, owing to the stringent regulations by the government of various countries, to cut down emission of CO2 and to improve fuel efficiency.
BIS Research has conducted extensive research on the global continuous fibre composites market and compiled the observation and insight in this report. The market intelligence report aims at providing an in-depth analysis of the key development strategies, marketing strategies and market trend dynamics which include drivers, restraints, and opportunities prevailing in the industry.
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