Global Composite Preforms Market – Latest Trends, Forecast, and Opportunity Analysis
The Global Composite Preforms Market:
Highlights
The global composite preforms market
offers a healthy growth opportunity over the next five years and will reach an
estimated value of US$ 350.1 million in 2023. Increasing usage of composite
materials in the aerospace and automotive industries, advancements in the
preform technology, its ability to develop complex parts, excellent product
strength, and shortened cycle time are some of the major factors that are
proliferating the growth of the composite preforms in various end-use
industries.
The global composite preforms market is
segmented based on the end-use industry type as Aerospace & Defense,
Automotive, Consumer Goods, Infrastructure, Medical, Marine, and Others.
Aerospace & defense is expected to remain the most dominant segment of the
composite preforms market during the forecast period, driven by an increased
usage of preforms in turbofan engines of commercial aircraft. The material type
is likely to gain more acceptance in the industry over the next five years.
The automotive segment is likely to
witness the highest growth during the forecast period, driven by an increasing penetration
of composites into the structural sections of vehicles coupled with a greater
demand for composite preforms to shorten part cycle time. Composite preform can
be used to fabricate high-performance composite parts for the automotive
industry, but most of the automakers have disowned it, owing to automakers’
perception regarding its high cost and their change-averse culture.
Over the last ten years, governments of
many countries have imposed stringent regulations on the automotive industry by
setting up targets related to vehicle’s fuel efficiency and carbon emission,
which compelled auto OEMs to look for the best alternatives for achieving those
targets. Composite preform is one of the best options for achieving those
targets. Currently, many OEMs are heavily betting on composite preforms
technology through High-Pressure Resin Transfer Molding (HP-RTM) process in
structural applications of their mass-produced vehicles.
Report link- https://www.stratviewresearch.com/96/composite-preforms-market.htmlFor more information, contact
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