Composite Laminates Market Growth Offers Room to Grow to Existing & Emerging Players
May 25, 2022
Stratview Research releases a new report on the Composite Laminates Market that shows lucrative growth opportunities in the global industry during the next five-year period. This report ensures reliable information related to the present and future market trends. The following summary will give an overview of the challenges, dynamics, and more details mentioned in the report.
Composite Laminates Market Insights:
The composite laminates market declined over the past five years (2014-2019), majorly due to the decline in the North American RV’s shipments due to the impact of the US-Sino Trade war in 2018-2019 and industrial recession in 2014-2015. While the market was looking for a recovery in the year 2020, the pandemic deepened the existing market challenges, such as declining shipment trends of RVs, especially in North America. A huge decline in construction activities due to the lockdown in several countries has further propagated the worsening market conditions. Also, according to International Monetary Fund (IMF), there will be an estimated cumulative loss of US$ 9 trillion in the global economy for the year 2020 and 2021, a key indicator that signposts huge impact on the growth of the major end-use industries including building & construction and recreational vehicles.
It is difficult to state that when the impact of the pandemic starts to fade away. However, it is predicted that the demand for composite laminates would stabilize in 2021. Further, it is anticipated that the market will gradually recover from 2022 onwards, following a similar trendline registered during the great recession; however, the recovery may take a longer time than the ones taken during the great recession. It is estimated that the composite laminates market to marginally cross its 2019-sales figure by touching US$ 1.0 billion sales in 2025.
The Composite Laminates Market size depends upon several factors that have direct or indirect influence on the demand and supply chain. The report published by Stratview Research throws light on the vital extracts of many such factors derived using different types of analysis like supply chain analysis, etc. These methods help in analysing the core strength of the companies, identifying their growth strategies, recognising their gaps as well as opportunities to lay out an effective roadmap which leads to higher profitability.
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Key Players
The report also highlights the topmost linchpins active in the market. According to the list, here are few key players mentioned in the report -
- Crane Composites
- LAMILUX Heinrich Strunz Holding GmbH & Co. KG
- Stabilit {America, Europa, and Suisse}
- Brianza Plastica S.p.A.
- Vetroresina SpA
- U.S. Liner Company (Uslco)
- Optiplan GmbH
- Panolam Industries International, Inc.
- Polser Fiberglass Reinforced Plastics Inc.
Market Segmentation:
The report segments based upon geographics, demographics, benefits and volume etc., identifies the most attractive segments and sub-segments and have different driving factors. The segmentation mentioned in the report has been arranged in such a way that it can help users to be more efficient in terms of time, investment, and other resources. It also allows the businesses to learn more about their target audience so that they can tailor their strategies, and campaigns in increasing their market share and revenue.
Composite Laminates Market by Matrix Type
Based on the matrix type, the market is segmented into thermoset composites and thermoplastic composites. The thermoset composites market segment is further broken down into polyester and other thermosets. Thermoset composite is expected to remain the larger segment, whereas thermoplastic composite is likely to recover at a faster pace from 2021 onwards. Polyester composite held the major share in 2019, owing to its low cost and adequate performance required in the major end-use industries including building & construction and recreational vehicles.
Regional Insights
In terms of region, North America is expected to remain the largest market during the forecast period. However, the impact of COVID-19 in the North American region is more prolonged than in other regions. It has been also anticipated that in the long run, the region will bounce back because of the strong supply chain in the USA. Asia-Pacific, a relatively small market, is projected to witness excellent growth after 2021. Building & construction is expected to drive the demand for composite laminates in the region. China, Japan, Australia, and India are projected to be the growth engines of the region’s market.
Report Customization Options
Stratview Research offers one of the following free customization options to the users along with this detailed report:
Company Profiling
- Detailed brief of additional market players.
- SWOT analysis of key players.
- Competitive Benchmarking
Benchmarking of the market key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.
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