Composite Preforms Market Size Worth $433.1 Million by 2031 | CAGR: 6.1%: AMR
The global composite preforms market is experiencing growth due to various factors such as the strong growth of the automotive industry and increasing demand for composite preforms in the aerospace sector. By application, the aerospace and defense segment contributed to the major share in 2021. By region, on the other hand, Asia-Pacific would showcase the fastest CAGR by 2031.
Portland, OR, March 16, 2023 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global composite preforms market was estimated at $239.3 million in 2021 and is expected to hit $433.1 million by 2031, registering a CAGR of 6.1% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
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Report Coverage & Details:
|Market Size in 2021||$239.3 Million|
|Market Size in 2031||$433.1 Million|
|No. of Pages in Report||471|
|Segments Covered||Fiber Type. Product Type, Structure, Application, and Region.|
|Drivers||Robust growth of the automotive industry|
|Escalating demand from the aerospace sector|
|Restraints||Strict industrial requirements and the inability of certain composites to meet the technical requirements of composite preforms|
|Opportunities||Increase in the use of composite preforms in the infrastructure development sector|
- In 2020, the growth of the composite preforms market was hindered by various factors, including its reliance on infrastructure, automotive, aerospace & defense, industrial, and other end-use sectors.
- However, following the COVID-19 pandemic, the market has started to recover, and there has been a notable increase in the sales of automobiles. In fact, recent data from the Economic Times in August 2022 reveals that sales of cars, utility vehicles, and vans have reached 3.7 million units, which is a 17-20% increase compared to the previous year. As a result, the composite preforms market has seen an improvement in its performance in 2021, and this positive trend is expected to continue throughout the forecast period.
The global composite preforms market is analyzed across fiber type, product type, structure, application, and region. The report takes in an exhaustive analysis of the segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.
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By fiber type, the carbon segment held the largest share in 2021, garnering nearly half of the global composite preforms market revenue, and is projected to maintain its dominance by 2031. The same segment would also showcase the fastest CAGR of 6.4% during the forecast period.
By product type, the stitching segment contributed to nearly two-fifths of the global composite preforms market share in 2021, and is projected to rule the roost by 2031. The braiding segment, on the other hand, would display the fastest CAGR of 6.6% throughout the forecast period.
By structure, the three-D segment held the largest share in 2021, garnering more than half of the global composite preforms market revenue, and is projected to maintain its dominance by 2031. The same segment would also showcase the fastest CAGR of 6.4% during the forecast period.
By application, the aerospace and defense segment contributed to more than two-fifths of the global composite preforms market share in 2021, and is projected to rule the roost by 2031. The automotive segment, on the other hand, would display the fastest CAGR of 6.7% throughout the forecast period.
By region, North America held the major share in 2021, garnering nearly two-fifths of the global composite preforms market revenue. Asia-Pacific, simultaneously, would showcase the fastest CAGR of 6.9% from 2022 to 2031. The other provinces discussed in the report include Europe and LAMEA.
The key market players analyzed in the global composite preforms market report include C and J Antich, SAERTEX Group, bally ribbon mills, Kümpers Composites, Sigmatex, Axis Composites Limited, T.E.A.M., Inc., A and P Technology, Eurocarbon B.V, and Albany International Corp.These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance and developments by the top players.
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