Polymer matrix composites (PMCs) are mainly comprised of organic polymer matrix that are bonded together by continuous or short fibers. Polymer matrix composites are widely used due to their fracture toughness, higher strength and stiffness, low costs compared to ceramic matrix composites, and simple fabrication method. Polymer matrix composites are named after their type of reinforced fiber such as carbon fiber composites, hybrid fiber composites, and glass fiber composite material or glass fiber reinforced plastics. Modulus and strength of the reinforced fibers are much higher in comparison to normal matrix material, which makes PMCs a better load bearing component due to which the global polymer matrix composites market is expected to grow at a significant rate during the forecast period.
Polymer matrix composites due to its natural characteristics is expected to be the fastest growing market and widely used composites material across the various industries such as aerospace, automotive, sports goods, shipping industries etc. Polymer matrix composites possess some inherent characteristics such as high specific modulus, good fatigue resistance and high damage tolerance, temperature resistance and good ablation resistance, improved high electric insulation and high frequency dielectric properties, excellent chemical corrosion resistance, and high specific strength in comparison to conventional materials such as ceramic matrix composites and metals along with others. Owing to these factors global polymer matrix composites market is expected to increase at a significant growth rate over the forecast period (2017-2025).
Polymer Matrix Composites Market Taxonomy
On the basis of end-user industry, the global polymer matrix composites market is segmented into:
On the basis of product type, the global polymer matrix composites market is segmented into:
The aerospace industry is expected to propel the growth of polymer matrix composites market in the near future due to its increasing use in manufacturing of fins of civil aircraft, planes in satellites, antennas, rocket motor casing, airframes of helicopters, fighter aircrafts and small aircrafts. Natural properties of polymer matrix composites has led to an increasing application of the same in healthcare and sports sectors. Burgeoning growth of these end-use industries is expected to drive growth of the polymer matrix composites market over the forecast period.
Market Outlook – Rise in Aerospace Industry to Propel the Growth of Polymer Matrix Composites Market
North America accounted for the largest share in the global polymer matrix composites market in 2016, followed by Asia Pacific, poised to be the fastest growing market over the forecast period. Rapid technological growth and adaptation of polymer matrix composites in aerospace, medical, defense and automotive industries along with others are the main factors to drive the growth of the global market in the forecast period.
The aerospace industry is estimated to have the highest consumption of 50 percent of the polymer matrix composites in U.S. region. Recent growth in stealth technology and all weather operating aircrafts in defense industry are the major factors for the significant growth of polymer matrix composites in the global market. Defense and commercial transport aircraft is expected to be the second highest end-user industry for the consumption of polymer matrix composites due to constant increase in aerodynamic performance and manufacturing light weight planes. Increasing use of polymer matrix composites in these industries is mainly due to greater flexibility, high stiffness, which helps to reduce weight by 20 to 30 percent and increase range, payloads, and reduce fuel consumption. Owing to these factors the polymer matrix composites market is expected to grow at a significant rate during the forecast period (2017-2025).
Some of the key participating players in the polymer matrix composites market are Toray Industries, Owens Corning, Teijin Limited, Hexcel Corporation, TPI Composites, Inc, Faurecia, Performance Composites Inc., Enduro Composites, Inc., Kineco, Applied Poleramic. Inc., Hexagon Composites, Creative Composites Ltd., and Hitco Carbon Composites Inc.
Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:
In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.
Coherent Market Insights desk research is based on a principle set of research techniques:
Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:
Preliminary Data Mining
The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.
Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.
Coherent Statistical model
We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:
Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.
This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:
The primary research is conducted with the ecosystem players including, but not limited to:
Finding it difficult to find the research that would cater to your business demands? Give us a chance to help you. One of our Research Consultants will connect to provide a customized solution.[email protected]
Talk to our research consultant to design an exclusive report as per your research needs.
We aim to fulfil client's research demands with tailored research solutions.
We aim to provide research studies in quickest turnaround time and in a much cost effective manner.
We cover each industry from supply and demand side with an aim to provide a most holistic research study.
We strive to provide most accurate and reliable research findings in our research reports.