Persistence Market Research
Global Closed Molding Composites Market: Introduction
For years now, the closed molding method has been leading its way in the manufacturing of composite materials. The closed molding methods are replacing the open molding methods which inherit environmental and quality issues. The Vacuum Infusion Process (VIP) has been a great solution for the shift from open molding process to cold molding process owing to improved materials and online applications to share streamline and information of manufacturing processes. For instance, the manufacturing process of closed molding composites, such as resin transfer molding (RTM) and vacuum infusion process have led to the development of reliable and eco-friendly molding process.
These processes help to reduce the volatile organic compound emissions (styrene vapors). The closed molding composites have different applications in end users, such as marine, aerospace, construction, transportation, and others. The advancements in closed molding composites provide greater fatigue tolerance that helps in producing strong and lightweight components in the aeronautics sector.
Global Closed Molding Composites Market: Dynamics
The rise of composites in the global market finds different applications in end users and are continuing to replace other materials, such as metals in the aerospace and defense industry are replaced by composites as a result of increased demand of lightweight aircraft components that enhances fuel efficiency. This increase in demand for composites in aeronautics sector is driving the global closed molding composites market.
As the demand of renewable energies has increased, the wind energy sector is driving the closed molding composites market. The growing demand of long blades in the production of wind turbines is creating opportunities for carbon fiber composites. However, the wind energy sector is forecasted to hold the growth of carbon fiber composites owing to the changing strategies and policies, for instance, relocation towards offshore wind farms which thereby restraints the closed molding composites market globally.
Sustainability is the trend for the global closed molding composites market. The growing demand of lightweight components in the transportation sector, shift toward renewable energy, recycling of materials are some factors driving the use of composites in different applications.
As demand for quick production of huge series in the automobile sector is growing, the closed molding process is replaced with the open molding process, thereby finding wide-ranging applications, also, a slight growth is observed in the continuous manufacturing process of panels creating opportunities for the global closed molding composites market. To meet the regulatory norms, manufacturers in aeronautics industry have started using composites in the aircraft structures and components creating an opportunity for the closed molding composites market.
Global Closed Molding Composites Market: Segmentation
Segmentation of the global closed molding composites market by material type:
Segmentation of the global closed molding composites market by manufacturing process:
Segmentation of the global closed molding composites market by application:
Global Closed Molding Composites Market: Region-wise Outlook
There has been a rapid growth in the use of composites into the market, composites have been benefited from larger economies, such as the U.S. and Europe. The electronics/electrical industry observed a slight growth in Europe, whereas demand in shipping construction has declined in Western Europe, for instance, in Scandinavia. However, the closed molding process holds a fair market share in the European market. The emerging economies, such as Asia, and the countries involved in exports are doing much better than others. In these emerging regions, the growth of closed molding composites is observed mostly in the construction and automobile sector.
Global Closed Molding Composites Market: Market Participants
Examples of some of the market participants in the global cold molding composites market are Chomarat Group, Molded Plastic Industries, Inc., KraussMaffei Group, New Boston RTM, Scott Bader Company Ltd, A. Schulman, Inc. STRONGWELL CORPORATION, Continental Structural Plastics Inc., Core Molding Technologies, MENZOLIT, and others.
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