Composite materials are a specific type of materials which are formed and designed by strengthening or combining two type of materials to form a more superior or tougher material for a particular application.
These materials are used in wide variety of industries such as aerospace, automotive, another type of manufacturing industries. Since these materials are largely used in various critical industries, damages are unavoidable to such composites which cannot be seen by naked eye. The critical task of repairing of such composite material is known as composite repair.
Composite repairing serves the function of correcting faults in composite materials used in a wide variety of equipment for instance big diameter fluid transporting pipelines, high-pressure piping systems, bends, flanges, valves, gaskets, fittings, pressurized vessels and tanks, saddles, main body connections, supports, etc.
COVID-19 Impact analysis
- The demand for composites has suffered a setback owing to the outbreak of COVID-19 in the major composite manufacturing nations- India and China. The production of composites had been halted or slowed down to maintain social distancing among floor workers, engineers, and other staff.
- Additionally, global pandemic disease COVID-19 has pushed the automotive, wind blades, and aircraft manufacturers to shut down their work, which is in return also decreased the demand of composite and hence there were no production and no repairs the market was in a complete shutdown which further increased the problems for the composite repair market.
- Adding to this the construction industry was also at a halt which also proved to be lethal for composite repair market because they are one of the major end user of the composite materials.
Top Impacting Factors
Substantial growth of composite repairs market will be owing to the rising use of composite materials in different industries such as aircraft development, car body structure, pipelines, etc. Industries for instance automotive, marine, aeronautical are striving for designs and improvement of component which can cut down the ultimate laden weight of the entire system and therefore can impart towards fuel efficiency. Such a move by this industry is encouraging the demand of composite material market and also the composite repairing market subsequently.
Pipeline industry around the world has been observing decent growth with different agreements signed between various nations for transporting of crude oil from one country to the other. Such pipelines across the nation are laid through some harsh and hostile environment, which needs constant maintenance and repair for cracks, leakage, and corrosion, etc. which are being completed with the different type of composite material.
Market Trends
- Asia-Pacific is anticipated to cross other regions and become a huge market share holder for composites in the near future. The demand is accelerating because of increased investments in the aerospace industry. Additionally, two of the most densely populated countries of Asia-Pacific China and India are investing prominently in wind energy. The governments of the said countries are zeroing in on the production of clean energy by installing wind turbines.
- North America is one of the largest market in the composite repairs to capture this market in upcoming years; this is owing to the countries including U.S and Canada are observing the growth of industries such as aerospace, automotive, shipbuilding, etc. where composite repairs are hugely consumed.
- Europe is the other leading region which is showing excellent growth in the composite repairs market this is owing to the reason alike of North America. Japan also has a large no automotive industry which is involved in the massive amount of R&D activities for different type of material which can be introduced in automotive frames such industry will propel the use of composite repair market.
Key Benefits of the Report
- This study presents the analytical depiction of the composite repair market industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the composite repair market market share.
- The current market is quantitatively analyzed to highlight the composite repair market market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed composite repair market market analysis based on competitive intensity and how the competition will take shape in coming years
Questions answered in the composite repair market Report
- Who are the leading market players active in the composite repair market market?
- What current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
Key Market Segments
- By Product Type
- Structural
- Semi-structural
- Cosmetic
- By Process
- Hand Lay-up
- Vacuum Infusion
- Autoclave
- Other Processes
- By End-user industry
- Aerospace and Defense
- Wind Energy
- Automotive
- Marine
- Construction
- Other End-user Industries
- By Region
- North America
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Gurit (Switzerland)
- WichiTech Industries Inc. (U.S.)
- Henkel AG & Co.
- The 3M Company (U.S.)
- Sherwin-Williams (U.S.)
- Hexcel (U.S.)
- KGaA (Germany)
- Heatcon Composite Systems (U.S.)