The epoxy composite market size is forecast to reach USD 38.7 billion by 2030, after growing at a CAGR of 5.7% during the forecast period 2024-2030. Epoxy composites are a form of polymer material in which a polymer matrix reinforced with fibers or other fillers is made using an epoxy resin, finds IndustryARC in its recent report, titled “Epoxy Composite Market Size, Share & Trends Analysis Report-By Fiber Type (Carbon, Glass and Others), By Matrix Type (Polymer, Metal and Ceramics), By Fabrication Process (Lay-up, Compression Moulding, Resin Injection, Resin Transfer Moulding, Filament Winding and Pultrusion, By End-use Industry (Building & Construction (Residential, Commercial, Infrastructure and Others), Transportation (Automotive, Marine, Aerospace & Defence, Rail), Electric & Electronics, Energy, Healthcare, Sporting & Consumer Goods, Industrial and Others), By Geography – Global Opportunity Analysis & Industry Forecast, 2023-2030’’
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Asia-Pacific to Register Highest Growth:
APACEpoxy composite market generated a revenue of $10.2billion in 2023 and is projected to reach a revenue of $15.9 billion by 2030 growing at a CAGR of 6.6% during 2024-2030. The growth of the transportation industry is propelling the growth of the market. For instance, according to the Civil Aviation Administration of China (CAAC), China plans to expand domestic flightsfrom 2023-2025. One of the most comprehensive initiatives to reach the pinnacle of aerospace development andproduction may be seen in the Chinese aerospace strategy.Over the next few years, China is anticipated to be thegreatest single market in the world for the selling of civil aircraft thereby driving the epoxy composite.
EpoxyComposite Market2023-2030: Scope of the Report
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Report Metric |
Details |
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Base Year Considered |
2023 |
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Forecast Period |
2024–2030 |
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CAGR |
5.7% |
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Market Size in 2030 |
$38.7 billion |
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Segments Covered |
Fiber Type, Fabrication Process, Matrix Type, End Use Industry and Region |
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Geographies Covered |
North America (U.S., Canada and Mexico), Europe (Germany, France, UK, Italy, Spain, Netherlands, Denmark and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America), Rest of the World (Middle East and Africa). |
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Key Market Players |
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Epoxy Composite Market Report – Key Takeaways:
Surge in Wind Energy Applications
Epoxy composites are widely used in wind turbine blades due to their high strength, stiffness, and fatigue resistance. As the demand for renewable energy sources continues to grow, there is increasing investment in wind power infrastructure, driving the demand for epoxy composites. Moreover, advancements in blade design and manufacturing technologies are further fueling the adoption of epoxy composites, enabling larger and more efficient wind turbines to harness wind energy effectively.
Automotive Segment to Register Highest Growth
Epoxy composites offer significant weight reduction opportunities, leading to improved fuel efficiency and performance in vehicles. Automakers are increasingly incorporating epoxy composites in structural components, body panels, and interior trim to achieve lightweighting goals and meet stringent emissions regulations. Additionally, epoxy composites offer design flexibility and potential for mass customization, enabling automakers to differentiate their products and enhance overall vehicle aesthetics and functionality.
Emphasis on Eco Friendly and Sustainable Solutions
With increasing environmental concerns and regulations, there is growing demand for epoxy composites derived from renewable sources or recycled materials. Manufacturers are exploring bio-based resins, natural fibers, and recycled reinforcements to develop sustainable alternatives to traditional epoxy composites. Additionally, initiatives to reduce carbon footprint and promote circular economy principles are driving the adoption of eco-friendly manufacturing processes and recycling technologies in the epoxy composite industry, aligning with the broader goals of sustainability and environmental stewardship.
Volatility in Raw Material Prices
Epoxy resins are derived from petrochemical feedstocks such as bisphenol A (BPA) and epichlorohydrin, whose prices are subject to fluctuations in global oil and gas markets. These price fluctuations can impact the cost of epoxy resin production and supply chain operations, leading to uncertainty for manufacturers and end-users. Additionally, disruptions in the supply of raw materials due to geopolitical tensions, natural disasters, or trade disputes can further exacerbate price volatility and supply chain challenges in the epoxy resin market.
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Key Opportunity Analysis:
Growth in Infrastructure Development Projects
Epoxy composites offer exceptional strength, durability, and corrosion resistance, making them ideal for a wide range of infrastructure applications, including bridges, roads, tunnels, and marine structures. As governments and private investors allocate significant funding for infrastructure modernization and expansion, there is a growing demand for high-performance materials like epoxy composites to enhance structural integrity, extend service life, and minimize maintenance costs. Moreover, advancements in epoxy resin formulations and composite manufacturing technologies are enabling the development of innovative solutions tailored to the unique requirements of infrastructure projects, such as lightweight bridge decks, corrosion-resistant reinforcement bars, and durable protective coatings. By capitalizing on the opportunities presented by infrastructure development initiatives, epoxy composite manufacturers can expand their market presence, drive product innovation, and contribute to the creation of resilient and sustainable infrastructure systems that meet the needs of rapidly growing urban populations.
Rise in Adoption of EVs
Epoxy composites offer excellent mechanical properties, impact resistance, and design flexibility, making them ideal for reducing vehicle weight, improving energy efficiency, and enhancing performance in EVs, hybrid vehicles, and lightweight transportation solutions. With the automotive industry undergoing a transition towards electrification and sustainability, there is increasing demand for lightweight materials like epoxy composites to replace traditional metals and plastics in vehicle structures, chassis components, and battery enclosures. Moreover, advancements in composite manufacturing processes, such as resin infusion and automated layup techniques, are enabling the production of complex-shaped composite parts with high precision and repeatability, further driving the adoption of epoxy composites in the automotive sector. By leveraging the opportunities presented by the shift towards EVs and lightweight transportation, epoxy composite manufacturers can diversify their product portfolios, establish strategic partnerships with automotive OEMs, and capture a larger share of the growing market for sustainable mobility solutions.
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The Report also Covers the Following Areas:
- Epoxy Composite Market Size and Forecast
- Epoxy Composite Market Trends
- Epoxy Composite Market Analysis by Fiber Type
Epoxy Composite Market2023-2030: Key Highlights
- CAGR of the market during the forecast period 2024-2030
- Value Chain analysis of key stake holders
- Detailed analysis of market drivers and opportunities during the forecast period
- Epoxy Composite Market size estimation and forecast
- Analysis and predictions on end users’ behavior and upcoming trends
- Competitive landscape and Vendor market analysis including offerings, developments, and financials
- Comprehensive analysis of challenges and constraints in the Epoxy Composite Market
Covid and Ukrainian Crisis Impact:
The Covid-19 pandemic disrupted global supply chains, leading to manufacturing shutdowns, labor shortages, and logistics challenges, which affected the production and distribution of epoxy composite materials. Additionally, the economic downturn resulting from the pandemic caused delays and cancellations of infrastructure projects, automotive manufacturing, and aerospace orders, leading to reduced demand for epoxy composites in key end-use industries.
The Russia-Ukraine war introduced geopolitical tensions and supply chain disruptions, particularly in the availability of critical raw materials and components used in epoxy composite production. These challenges have resulted in uncertainty, volatility, and pricing pressures in the epoxy composite market, impacting manufacturers, suppliers, and end-users worldwide. Despite these challenges, the long-term outlook for the epoxy composite market remains positive, driven by the growing demand for lightweight materials, sustainability initiatives, and infrastructure development projects aimed at economic recovery and resilience in a post-pandemic and geopolitically uncertain world.
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List of Key Market Players in Epoxy Composite Market:
The key companies profiled in the Epoxy Composite Market Report are listed below:
- Axiom Materials Inc.
- Hexcel Corporation
- SGL Carbon
- Mitsubishi Chemical Corporation
- Teijin Ltd
- Solvay Group
- Toray Industries Inc.
- Gurit Holding AG
- Park Aerospace Corporation
- Owens Corning
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