Composite Preforms Market – The Biggest Trends to Watch out for 2019-2029

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Global Composite Preforms Market: Overview

• Composite preforms are reshaped fiber forms. These fibers are manufactured in different dimensions based on the required thickness to meet specific structural and mechanical requirements.
• Composite preforms are widely used in the manufacture of parts of commercial aircraft, such as fan blades, and high-performance parts in the automotive industry
• Composite preforms possess excellent resistance to layer delamination, high formability, and highly porous structure. Composite preforms are ideal materials for use in the improvement of energy efficiency and reduction in carbon emissions in various end-use applications.

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Key Drivers of Global Composite Preforms Market

• Growing consumption of composite materials in automotive, marine, and medical industries and rising demand for composite preforms for use in the production of complex structures are key factors driving the global composite preforms market
• Growth of the aerospace & defense industry is driving the demand for composite preforms. Composite preforms are widely used in the aircraft industry to manufacture turbofan engine applications such as fan blades.
• Composite preforms are preferred for mass production of fuel-efficient vehicles with highly efficient designs. These materials have damage tolerance properties and they offer high mechanical performance.
• Growing energy consumption across the globe results in rising number of regulations about energy efficiency. This is anticipated to boost the demand for composite preforms in various end-use industries in the next few years. High energy consumption by conventional materials, such as aluminum, steel, and iron, is responsible for carbon emissions in large amounts, which causes greenhouse effect and raises the global temperature. Composite preforms are employed to minimize energy consumption and to reduce carbon emissions.

• Research agencies including NASA (National Aeronautics and Space Administration), ISRO (Indian Space Research Organization), and ESA (European Space Agency) are focusing on R&D activities to develop high-efficiency materials. This is estimated to offer immense opportunities to the global composite preforms market during the forecast period.
• Stringent regulations and inability of certain composites to fulfill technical requirements is expected to hamper the global composite preforms market between 2019 and 2027

Carbon Segment to Witness Lucrative Opportunities

• Based on fiber type, the global composite preforms market can be classified into carbon, glass, and others
• The carbon segment is anticipated to dominate the global composite preforms market between 2019 and 2027 and it is expected to register the maximum growth rate during the forecast period. Carbon-based composite preforms are light in weight and they offer high strength, due to which they are preferred.
• Carbon-based composite preforms are likely to gain significant momentum in emerging markets in the next few years, due to increasing demand from the automotive industry

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Three-D Segment to Witness Lucrative Opportunities

• Based on structure type, the global composite preforms market can be classified into one-D, two-D, and three-D
• The three-D segment is anticipated to dominate the global composite preforms market, followed by two-D segment, during the forecast period
• Three-D composite preforms are made from tows or yarns. These yarns are arranged in a three-D structure by using the 3D braiding/weaving process.

Significant Opportunity in Aerospace & Defense Segment

• Based on end-use industry, the global composite preforms market can be divided into aerospace & defense, automotive, consumer goods, infrastructure, marine, medical, and others
• Aerospace & defense is expected to be the leading segment of the global composite preforms market during the forecast period, followed by automotive and infrastructure segments. The automotive segment is anticipated to register the maximum growth rate between 2019 and 2027.
• Growth of automotive and aerospace & defense industries can be attributed to the increasing demand for manufacture of complex structures and reduction in the part cycle time

North America to be a Key Market for Composite Preforms  

• In terms of region, the global composite preforms market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
• North America is anticipated to be the leading market for composite preforms during the forecast period, due to presence of key manufacturers of composite preforms and turbofan engine OEMs in the region
• The composite preforms market in Europe is likely to expand rapidly from 2019 to 2027, due to rising production of aircraft such as A350WXB and A320 in the region
• A350WXB is manufactured by using advanced materials that contain 53% of carbon composites. Composites are ideal for use in the production of efficient, lighter, and cost-efficient aircraft. They also reduce costs incurred for maintenance of aircraft.