The changing dynamics in Composite Preforms Market with covid-19 impact assessment

The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Composite Preforms Market.

It was estimated prior to this unanticipated outbreak that the Composite Preforms Market will reach US$ 350.1 million in 2023. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.

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The global composite preforms market is segmented based on the end-use industry type as Aerospace & Defense, Automotive, Consumer Goods, Infrastructure, Medical, Marine, and Others. Aerospace & defense is expected to remain the most dominant segment of the composite preforms market during the forecast period, driven by an increased usage of preforms in turbofan engines of commercial aircraft. The material type is likely to gain more acceptance in the industry over the next five years.

The automotive segment is likely to witness the highest growth during the forecast period, driven by an increasing penetration of composites into the structural sections of vehicles coupled with a greater demand for composite preforms to shorten part cycle time. Composite preform can be used to fabricate high-performance composite parts for the automotive industry, but most of the automakers have disowned it, owing to automakers’ perception regarding its high cost and their change-averse culture.

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Over the last ten years, governments of many countries have imposed stringent regulations on the automotive industry by setting up targets related to vehicle’s fuel efficiency and carbon emission, which compelled auto OEMs to look for the best alternatives for achieving those targets. Composite preform is one of the best options for achieving those targets. Currently, many OEMs are heavily betting on composite preforms technology through High-Pressure Resin Transfer Molding (HP-RTM) process in structural applications of their mass-produced vehicles.

North America is expected to remain the dominant market for composite preforms during the forecast period, driven by the presence of major preform suppliers, composite part fabricators, aero-engine manufacturers, and OEMs. Europe is projected to witness the highest growth during the forecast period, driven by an expected increase in the production rates of A350XWB and A320 aircraft programs.

Key Players:

The supply chain of this market comprises raw material manufacturers, composite preform manufacturers, part fabricators, aero-engine manufacturers, and OEMs. The key aerospace OEMs are Boeing, Airbus, Lockheed Martin, Embraer, and Bombardier, whereas the key aero-engine manufacturers are CFM, GE Aviation, and Pratt & Whitney, and the key automotive OEMs are BMW, GM, Toyota, and Ford Motors.

The key composite preform manufactures are A&P Technology, SGL Kumpers GmbH, Sigmatex (UK) Ltd., Bally Ribbon Mills, Saertex GmbH & Co. KG, Highland Composites, Fabric Development Inc. and Compsys Inc. New product development, regional expansion, and joint product development with customers are the key strategies adopted by some of the major players to gain a competitive edge in the market.

Features of the Report

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.

The Composite Preforms Market analysis report discusses the following heads in great detail:

  • Market structure: Overview, industry life cycle analysis, supply chain analysis
  • COVID-19 Impact Assessment
  • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
  • Market trend and forecast analysis
  • Market segment trend and forecast
  • Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
  • Attractive market segments and associated growth opportunities
  • Emerging trends
  • Strategic growth opportunities for the existing and new players
  • Key success factors

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