The global epoxy composites market size was valued at USD 35.21 billion in 2023 and is predicted to reach around USD 84.99 billion by 2034, at a CAGR of 8.34% from 2024 to 2034.
The epoxy composites market is experiencing significant growth driven by their extensive application across various industries such as aerospace, automotive, construction, and electronics. Epoxy composites are known for their high strength-to-weight ratio, corrosion resistance, and excellent thermal and electrical properties, making them suitable for demanding applications where lightweight, durable materials are essential.
Get a Sample: https://www.precedenceresearch.com/sample/4679
Epoxy Composites Market Key Points
- Asia Pacific dominated the epoxy composites market with the largest revenue share of 39% in 2023.
- North America is expected to host the fastest-growing market during the forecast period.
- By fiber type, the glass fiber segment has held a major revenue share of 63% of revenue share in 2023.
- By fiber type, the carbon fiber segment is expected to grow at a fastest CAGR of 8.53% during the forecast period.
- By end use, the automotive & transportation segment has generated more than 28% of revenue share in 2023.
- By end use, the aerospace segment is expected to grow at the fastest rate in the market during the forecast period.
Epoxy Composites Market Trends
One prominent trend in the epoxy composites market is the increasing demand for sustainable and bio-based materials. Manufacturers are focusing on developing epoxy resins derived from renewable sources to reduce environmental impact and meet regulatory standards. Additionally, advancements in manufacturing technologies are leading to the production of epoxy composites with improved mechanical properties and enhanced performance characteristics.
Regional Insights:
The market for epoxy composites is geographically diverse, with North America, Europe, and Asia Pacific emerging as key regions. North America and Europe lead in terms of technological advancements and stringent regulations promoting lightweight and fuel-efficient vehicles, while Asia Pacific is witnessing rapid industrialization and infrastructure development, driving the demand for epoxy composites in construction and automotive sectors.
Epoxy Composites Market Scope
| Report Coverage | Details |
| Market Size by 2034 | USD 84.99 Billion |
| Market Size in 2023 | USD 35.21 Billion |
| Market Size in 2024 | USD 38.15 Billion |
| Market Growth Rate from 2024 to 2034 | CAGR of 8.34% |
| Largest Market | Asia Pacific |
| Base Year | 2023 |
| Forecast Period | 2024 to 2034 |
| Segments Covered | Fiber Type, End-use, and Regions |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Epoxy Composites Market Dynamics
Drivers:
Several factors drive the growth of the epoxy composites market, including increasing demand from the aerospace and defense sectors for lightweight materials that enhance fuel efficiency and reduce emissions. Moreover, the growth of wind energy installations globally is boosting the demand for epoxy composites in wind turbine blades due to their superior strength and durability.
Opportunities:
Opportunities in the epoxy composites market lie in expanding applications in emerging industries such as renewable energy and medical devices. The development of bio-based epoxy resins and composites presents lucrative growth opportunities for manufacturers looking to capitalize on sustainable practices and meet consumer preferences for eco-friendly products.
Challenges:
Despite its growth prospects, the epoxy composites market faces challenges related to fluctuating raw material prices and regulatory constraints concerning the use of certain chemicals in epoxy formulations. Additionally, issues such as recycling and disposal of epoxy composites pose environmental challenges that manufacturers and stakeholders are actively addressing through research and innovation.
Read Also: Intelligent Traffic Management System Market Size, Share, Report 2034
Epoxy Composites Market Companies
- Axiom Materials.
- Barr day.
- Hexcel Corporation.
- Mitsubishi Chemical Corporation.
- Park Aerospace Corp.
- Sanders Composites.
- SGL Carbon.
Recent Developments
- In July 2024, Solvay launched the epoxy-based CYCOM® EP2190 system, which offers exceptional durability in thick and thin structures together with good in-plane performance in hot/wet and cold/dry situations. The material, which is the company’s new flagship product for aerospace primary structures, competes with existing solutions for wing and fuselage applications in the majority of aviation market segments, from defense and rotorcraft to urban air mobility (UAM) and private and commercial aerospace segments (sub and supersonic).
- In June 2024, With the introduction of its new NE7 low-temperature curing prepreg system, Notus Composites (UAE), the distinguished manufacturer of epoxy prepreg materials, is pleased to announce the newest addition to its high-performance epoxy portfolio. With the completely new Notus NE7 formulation, producers of composites can cure components at as low as 70ËšC, saving energy and opening up more affordable tooling possibilities.
Segment Covered in the Report
By Fiber Type
- Glass Fiber
- Carbon Fiber
- Other Fiber
By End-use
- Automotive & Transportation
- Aerospace & Defense
- Wind Energy
- Electrical & Electronics
- Sporting & Consumer Goods
- Other End-Use (Oil & Gas, Marine, Construction)
By Geography
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East & Africa
Contact Us:
Mr. Alex
Sales Manager
Call: +1 9197 992 333
Email: sales@precedenceresearch.com
Web: https://www.precedenceresearch.com
Blog: https://www.expresswebwire.com/
Blog: https://www.uswebwire.com/
Blog: https://www.dailytechbulletin.com/
Blog: https://www.autoindustrybulletin.com/
