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The global epoxy composites market size is projected to expand at a rapid rate over the forecast period. In terms of revenue, the global epoxy composite market was worth USD 38.33 billion in 2022 and is anticipated to reach USD 60.24 billion by 2030, expanding at a CAGR of 7.35 % during the period of forecast.
- Hexcel Corporation
- SGL Group
- Huntsman Corporation
- Gurit Holding AG
- Solvay S.A.
- Toray Industries Inc.
- Mitsubishi Chemical Corporation
- Sumitomo Bakelite Co. Ltd.
- Park Electrochemical Corporation
- Cytec Solvay Group.
- Axiom Materials Inc.
- Aditya Birla Chemicals
- Hexion Inc.
- Nanya Plastics Corporation
- Alpha Owens-Corning (AOC) LLC
- Hindoostan Composite Solutions
- Composite One LLC
- Teijin Limited
- Owens Corning
- Composite Engineering Inc.
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What exactly is an epoxy composite?
Composite epoxy materials (CEM) are a category of composite materials that are typically composed of woven glass fabric surfaces and non-woven glass cores combined with epoxy synthetic resin. Typically, they are utilized in printed circuit boards.
What is the strength of epoxy composite?
The tensile strength of composites reinforced with E-glass is approximately 96.91 MPa. Various combinations of cobalt and glass/carbon fibre in epoxy have been tested, and the results indicate that 0.6% cobalt provides the greatest strength compared to any other compound.
What is carbon fiber epoxy composite used for?
Due to their ultra-strong and lightweight properties, carbon fiber-reinforced polymer (CFRP) composites are used in a variety of applications, including aircraft, automobiles, body armour, and the sports industry.
Epoxy Composite Market: Growth Drivers
Increased demand for lightweight and durable materials in numerous end-use industries will propel market expansion.
The global market for epoxy composites is driven by a number of factors that contribute to its expansion. Increasing demand for lightweight and durable materials in various end-use industries such as aerospace, automotive, construction, and electrical and electronics is one of the primary market drivers. Epoxy composites are ideal for these industries due to their high strength-to-weight ratio, corrosion resistance, and excellent mechanical properties.
In addition, the growth of wind energy generation and the increasing use of epoxy composites in the marine industry contribute to the expansion of the market. Epoxy composites are widely used in wind turbine blades due to their lightweight and high-strength characteristics, as the wind energy industry is experiencing significant global growth.
Global Epoxy Composite Market: Challenges
Non-biodegradable nature and environmental concerns about epoxy composites might act as a challenge
Additionally, the global epoxy composite industry must resolve certain challenges. The environmental concerns associated with the disposal of epoxy composites are one of the greatest obstacles. Epoxy composites are not biodegradable, and their disposal can pollute the environment. In addition, the availability of raw materials used in the production of epoxy composites can be a challenge for market participants, as it can contribute to disruptions in the supply chain and impact market growth. In addition, the complexity of the manufacturing process for epoxy composites can be problematic for new market entrants.
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