Impact of COVID-19 on Composites Market Research Report forecast 2020-2026
Summary - A new market study, titled “Impact of COVID-19
on Composites Market Size study, by Fiber Type (Glass Fiber, Carbon Fiber,
Natural Fiber, and Others), Resin Type (Thermoset, and Thermoplastic), by
End-Use Industry (Aerospace & Defense, Wind Energy, Transportation,
Construction & Infrastructure, Marine, Pipes & Tanks, Electricals &
Electronics, and Others) and Regional Forecasts 2020-2026” has been featured on
Wise Guy Reports.
Impact of COVID-19 on
Composites Market is valued approximately USD XX million in 2019 and is
anticipated to grow with a healthy growth rate of more than XX% over the
forecast period 2019-2026. A composite material is a substance consisting of
two or more constituent materials with substantially different physical or
chemical properties that, when mixed, create a substance with different
characteristics from the individual components.
The composites industry is expected to grow due to expected
economic recovery resulting in increasing demand from wind energy, aerospace
& defense, and automotive & transportation industries. The rising
demand for composites materials from automotive & transportation sector
owing to the weight savings property of composites for a given strength level
make the use of composites important in the automotive & transportation
industry. The automobile and rail industries are focused on raising weight,
increasing vehicle performance and harnessing more advanced materials. Car
producers across the world face serious impacts because of COVID-19. The most
affected countries are the US, Japan, South Korea, Italy, Germany, and the UK,
which are the main producing countries in the automobile & transportation
industry. Many automakers will experience a strong effect on their 2020 sales
from the pandemic situation. Moreover, increasing environmental issues and the
quest for high-strength lightweight material to improve fuel efficiency have
put composites in the aerospace & defense industry at the forefront. The
COVID-19 pandemic has triggered an ongoing crisis for the global aerospace and
defense industry. A drastic decline in sales and cash flow tends to be
inevitable in the aircraft manufacturing industry for most airlines, as well as
for OEMs and their suppliers. This massive effect on the manufacturers of
materials will primarily affect the market for composites in aircraft production.
The regional analysis of Impact of COVID 19 on Composites
market is considered for the key regions such as Asia Pacific, North America,
Europe, Latin America and Rest of the World. APAC is the composite's main
customer due to strong demand from China, Japan, India and other nations.
Significant end-use composite industries on the APAC market include, among
others, housing, automobile & transportation, aerospace & defense, and
wind energy. Advances in technology, regulatory regulations, and policy standards
are some of the main factors of APAC's composites market. However, the COVID-19
pandemic is expected to reduce the region's demand for composites due to
ongoing lockdown across various countries in 2020.
Major market player included in this report are:
A. Schulman
Royal Tencate
Polynt S.P.A
Exel Composites
Core Molding Technologies
Strongwell Corporation
Menzolit GmbH
Continental Structural Plastics
Saertex
GKN Aerospace
The objective of the study is to define market sizes of
different segments & countries in recent years and to forecast the values
to the coming eight years. The report is designed to incorporate both
qualitative and quantitative aspects of the industry within each of the regions
and countries involved in the study. Furthermore, the report also caters the
detailed information about the crucial aspects such as driving factors &
challenges which will define the future growth of the market. Additionally, the
report shall also incorporate available opportunities in micro markets for stakeholders
to invest along with the detailed analysis of competitive landscape and product
offerings of key players. The detailed segments and sub-segment of the market
are explained below:
By Fibre Type:
Glass fibre Composites
Carbon fibre Composites
Natural fibre Composites
Other fibre Composites
By Resin Type:
Thermoset Composites
Thermoplastic Composites
By End-Use Industry:
Aerospace & Défense
Wind Energy
Transportation
Construction & Infrastructure
Marine
Pipes & Tanks
Electrical & Electronics
Others
North America
U.S.
Canada
Europe
UK
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017, 2018
Base year – 20198
Forecast period – 2020 to 2026
Target Audience of the Impact of COVID-19 on Composites
Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
FOR MORE DETAILS: https://www.wiseguyreports.com/reports/5421564-impact-of-covid-19-on-composites-market-size
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