When a minor constituent reacts with a major constituent, an intermetallic phase is formed, which is then dispersed in the major phase. Composite films provide properties such as tenacity, electrical and thermal conductivity, fatigue, strength, density, and corrosion resistance. The composite films have a higher strength-to-weight ratio than aluminum or steel, which has increased their demand in a variety of end-use industries. Weight reduction has become a critical component of many manufacturing industries, including aviation and automobiles. Several companies are already using composite films to reduce overall weight and improve final product efficiency. Furthermore, composite films can withstand lightning strikes, which is increasing their popularity in commercial aircraft such as the Boeing 787 and Airbus 350. About half of this aircraft’s body is made of composite films. End use industries such as automobiles and aerospace and defense are big fans of epoxy resin films. Epoxy resin has several advantages over other resin types, including improved physical and mechanical properties such as strength, flexibility, durability, lightweight, and stability.
COVID-19 Impact
- The COVID-19 pandemic had a negative impact on the industry, with all manufacturing operations shutting down or operating at very low capacity in the first half of 2020. Various market participants had to bear losses during this time period.
- The loss was caused by reduced production levels at Chinese manufacturing facilities due to a lockdown. As a result, adhesive consumption was extremely low in 2020.
- However, as the market responds to and recovers from the coronavirus crisis, corporate leaders have anticipated the risks and considered opportunities. Corporations have avoided supply chain bottlenecks by reassessing the life cycle and identifying potential factors that will impact the operation, especially those that are geographically dependent.
Top Impacting factor
Rising demand for the aerodynamic surface, high-quality surface finish with fewer imperfections, and paint preparation activities in the aerospace industry have created ample growth opportunities for composite surfacing film manufacturers. The increasing use of non-conductive composites in the exterior parts of next-generation aircraft has increased airline concerns about the safety and security of inboard passengers and crew members against lightning strikes. Incorporating a metal mesh into the composite surface film not only solves the problem of lightning, but also facilitates the handling, storage and application of a metal mesh or thin metal foil. Due to various factors, the demand for composite films for surface treatment is increasing in a wide range of applications. The main driver is the increased use of composites in the aerospace, defense, automotive, wind and marine industries. Due to the increasing use of CFRP in automotive body panels and the high demand for Class A surface coatings on vehicle bodies, many composite film manufacturers are developing and innovating composite surface finishing films for the automotive industry..
Market Trends
Acquisition
- In March 2018, Toray acquired TenCate Advanced Composites in order to accelerate both companies' growth in advanced composites. This acquisition increased demand for Toray's composite surfacing film, allowing the company to remain competitive in the composite film market.
- Solvay signed a contract with Safran in May 2019 to supply high-temperature composites and adhesives. These advanced materials will be used by Safran on several critical engine components. This would strengthen Solvay's position in the composite film market.
- In September 2018, Solvay opened a cutting-edge manufacturing facility for aerospace structural adhesives and surfacing films in Wrexham, UK. Solvay's footprint has grown as a result, and the company's position as the market leader in composite film has strengthened.
- North America has the largest market share in the composite film industry due to the expanding economies of the U.S. and Canada, the presence of prominent players, and the expanding aerospace and defense, and automotive industries. During the forecast period, the U.S. is expected to grow at the fastest rate in North America. It is North America's largest composite film market.
Key Benefits of the Report
- This study presents the analytical depiction of the composite surface film 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 surface film market share.
- The current market is quantitatively analyzed to highlight the composite surface film market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed composite surface film market analysis based on competitive intensity and how the competition will take shape in coming years
Questions answered in the composite surface film Report
- Who are the leading market players active in the composite surface film 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?
- Upcoming Report specific FAQs
- What is "composite surface film"?
- What does "composite surface film" allow organizations to achieve?
- Which technologies combine to make "composite surface film" a critical organizational asset?
- What are the current trends and predicted trends?
- What are the challenges faced in the "composite surface film" Market?
Composite Surface Film Market Report Highlights
| Aspects | Details |
 By Type |
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 By Application |
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 By End Use Industry |
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 By Region |
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 Key Market Players | SKC, Adeka, Toray Industries, Mitsui Chemicals, Dow Corning, 3M, Ashland, Honeywell, DuPont, Sekisui Alveo. |
 | Others |
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