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Textile Composites Market: Global Opportunity Analysis and Industry Forecast 2020-2027
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A composite is an amalgamation of two or more materials, which are not similar, to engineer another material that is stronger than the individual materials. The individual fibers are processed and turned into a sheet known as fabric. This fabric can be produced through various textile techniques, such as weaving, knitting, and braiding, to increase the mechanical properties of the fabric. This, in turn, gives rise to textile composites. Textile composites can be flexible, semi- flexible, and rigid in nature. Flexible textile composites are used in conveyer belts and expandable lift rafts. Additionally, rigid textile composites are applied in products known as fiber reinforced plastic (FRP).
Market scope and structure analysis:
                       Report Metric |                                                    Details |
 Market size available for years |   2019–2027 |
 Base year considered |  2019 |
 Forecast period |  2020–2027 |
 Forecast units |  Value (USD), Volume (Kilotons) |
 Segments covered |  Fiber Type, Resin Type, Application |
 Regions covered | North America (the U.S. and Canada), Europe (Germany, the UK, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), Latin America (Brazil, Mexico, and rest of LATAM), and the Middle East and Africa |
 Companies covered | Owens Corning, Hexcel Corporation, Saertex GmbH & Co. KG, BGF Industries Inc., Chomarat Industries, Sigmatex Ltd, Toray Industries, DowDuPont, and Teijin Limited |
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Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis:
Textile composites have found their application in many different industry verticals and are constantly on the rise. An increase in demand for textile composites can be observed in the aerospace & defense sector. This is attributed to lightweight, insulation properties, reduced cost, and high product performance of textile composites. The demand for printed circuit board (PCB) in the electrical & electronics industry is another factor that fuels the demand for textile composites. They can provide flexibility and stability in electronic cables, which are found in items such as computers, phone cables, and earphones. In addition, they also find application in the automotive industry as they have the ability to significantly reduce the weight of vehicles. The lightweight aspect of textile composites helps to improve fuel efficiency in the transportation industry. In 2014, Asia-Pacific was the contributor of almost 90% in the wind energy industry. This, in turn, fuelled the demand for textile composites in the region. Therefore, these factors are expected to contribute to the demand for textile composites over the forecast period. Â
On the contrary, making textile composites cost-effective by reducing the cost of fibers is a major obstacle faced by manufactures. R&D and heavy investment are needed to make textile composites cost effective. These factors are expected to hamper the growth of the textile composites market over the forecast period.Â
Regional analysis:
Asia- Pacific is the leading consumer of textile composites, owing to increase in applications and surge in demand in the aerospace & defense, electronics & electrical, and wind energy sectors. In Asia-Pacific, India, China, and Japan are the major consumers of textile composites. After the U.S., China has the major share of expenditure on the defense sector. This factor fuels the growth of the textile composites in the region. In addition, the rapid growth of the sports industry is also another factor that contributes to the demand for textile composites in the region.Â
Key segments covered:
               Segments |                                         Sub-segments |
 Fiber Type |
|
 Resin Type |
|
 Application |
|
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Key benefits of the report:
- This study presents the analytical depiction of the textile composites market 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 textile composites market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the textile composites market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed analysis based on competitive intensity and how the competition will take shape in coming years.Â
Questions answered in the textile composites market research report:
- Which are the leading market players active in the market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
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