The Global Composite Preforms Market is expected to reach USD 725.9 million by 2028, growing at a CAGR of 8.7 percent over the projected period. It is expected that increased product demand will drive market growth for composite preforms over the forecast period.
Composite preforms are basically fibers of selected composition that are organized in different 2D and 3D forms in order to construct the required shape. Composite preforms are being increasingly preferred over conventional materials like steel, iron, aluminum, etc. This is mainly because of the favorable characteristics of composite preforms such as low weight, corrosion to resistance, and high durability.
Over other competing processes, braided systems used as composite preforms have a range of advantages. Increasing use of composite materials in the aerospace and automotive industry and growing demand for composite preforms to generate complex structures and shorten part cycle time are some of the major driving factors for the global composite preforms market.
The growing use of composite materials in marine, automobile, and medical industries and rising demand for composite preforms for use in complex structure production are the key factors that are propelling the global composite preforms market. The demand for composite preforms is being driven by the development in the aerospace & defense industry.
In the aircraft industry, composite preforms are commonly used to create turbofan engine applications such as fan. For the mass manufacture of fuel effective vehicles with highly efficient structures, composite preforms are favored. Such materials have properties of harm resistance, and they give high mechanical efficiency.
Growing energy consumption around the world has led to the enactment of a number of energy efficient regulations. In the next few years, this is projected to raise the demand for composite preforms in different end-use industries. High-energy consumption from conventional materials, such as aluminum, steel, and iron, is responsible for the vast volumes of carbon dioxide generated, creating greenhouse impacts and increasing global temperature. To lower energy consumption and to decrease greenhouse emissions, composite preforms are being increasingly used. This, in turn, is expected to give a major boost to the global composite preforms market.
Global Composite Preforms Market, By Fiber Type
The global market for composite preforms can be segmented into carbon, glass, and others, based on the fiber type. Between 2019 and 2027, the carbon segment is expected to dominate the global demand for composite preforms and register the highest growth during the forecast period. Composite preforms based on carbon are low in weight, and they give high strength, which makes them suitable for many applications. In the next few years, carbon-based composite preforms are expected to gain substantial traction in developing markets, with the growing demand for the product in the automotive industry.
Global Composite Preforms Market, By Technology
Based on technology, the global composite preforms market is categorized into stitching, braiding, weaving, and knitting. In a range of uses in aerospace, recreational, medical prosthetic, automobile, and industrial applications, braided composites are being used. In contrast to metallic casings, these braided composite casings give 30 percent greater containment, and additionally, they do not suffer from fatigue.
Global Composite Preforms Market, By Structure
The global demand for composite preforms can be categorized into one-D, two-D, and three-D based on the structure type. During the forecast period, the three-D segment is projected to lead the global composite preforms market, followed by the two-D segment. Tows or yarns are constructed of three-D composite preforms. By using the 3D braiding/weaving technique, these yarns are structured in a three-D structure.
Global Composite Preforms Market, By End Use
The global demand for composite preforms is split into aerospace, automotive, consumer goods, construction, healthcare, and others based on end use. During the forecast period, the aerospace segment is projected to be the leading segment in the global composite preforms market, followed by the automotive segment. Between 2019 and 2027, the automotive segment is predicted to record the fastest growth. The development of automotive and aerospace segments can be attributed to the growing demand for the manufacturing of complex structures and reduction in the component cycle time.
Global Composite Preforms Market, By Region
Due to the extensive demand for composite preforms in the aerospace and automotive industries, the North American region is set to be the largest player in the composite preforms industry. By the end of the forecast period, the Asia Pacific region is poised to record the fastest growth in the market due to the extensive growth in the aerospace sector achieved due to the ISRO's constructive approach.
Key Market Development
Some Key Findings of the Global Composite Preforms Market Report Include:
By Fiber Type:
By End-Use Industry:
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