PUBLISHER: IMARC | PRODUCT CODE: 1467772
PUBLISHER: IMARC | PRODUCT CODE: 1467772
The global epoxy composite market size reached US$ 34.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 54.9 Billion by 2032, exhibiting a growth rate (CAGR) of 5.3% during 2024-2032.
Epoxy composite is a type of material that employs epoxy resin for creating a polymer matrix, which is reinforced with fibers or other fillers to manufacture durable components with high strength-to-weight ratios. Some of the commonly used methods for producing epoxy composites include hand layup, compression, filament winding, and injection resin and resin molding processes. As compared to conventional construction materials, such as metal and concrete, epoxy composite is more lightweight, flexible, and cost-effective, and exhibits excellent adhesion and superior ultraviolet (UV) radiation, chemical, and heat resistance properties. This, in turn, protects the object from deterioration, due to which it is extensively used in various industrial applications. At present, epoxy composite is mainly available in glass and carbon fiber types.
One of the key factors driving the epoxy composite market is the widespread product adoption in load-bearing applications, including automotive, aerospace, oil and gas, and construction industries, due to their improved mechanical properties, high adhesiveness, heat and solvent resistance, and low costs. Additionally, epoxy composites exhibit various beneficial properties, such as being lightweight, exhibiting resistance to fatigue, and offering lack of shrinkage after cooling, due to which they are frequently combined with carbon and glass fiber to manufacture wind blades. As a result, there has been a fueling demand for epoxy composites in the wind energy industry for producing and coating components, which is acting as another growth-inducing factor. In line with this, significant technological advancements and the introduction of several effective and affordable production solutions for manufacturing epoxy composites in bulk are contributing to the market growth. Other factors, such as strategic collaborations amongst key players and ongoing investments in the research and development (R&D) activities for producing versatile epoxy resin that can be deployed as a key component to construct air and watercraft, are creating a positive outlook for the market.
IMARC Group provides an analysis of the key trends in each sub-segment of the global epoxy composite market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on fiber type, manufacturing process and end user.
Glass Fiber
Carbon Fiber
Others
Lay-up
Compression Moulding
Resin Injection
Resin Transfer Moulding
Filament Winding
Pultrusion
Aerospace and Defense
Automotive
Electrical and Electronics
Wind Energy
Sporting Goods
Marine
Piping
Others
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being Arkema S.A, Avient Corporation, Axiom Materials Inc., Gurit, Hexcel Corporation, Huntsman Corporation LLC, Mitsubishi Chemical Holdings Corporation, SGL Carbon SE, Solvay S.A, Teijin Limited and Toray Industries Inc.