Composite Film Market Research Report

Composite Film Market:

Growth opportunities in the Composite Film Market look promising over the next six years. This is mainly due to the increasing demand for fuel-efficient and lightweight materials and their potential to withstand lightning strikes.

Request for a FREE Sample Report on Composite Film Market

Composite Film Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)

Key Drivers

The key drivers responsible for the growth of the global composite film market include the stimulating demand for cost-effective, lightweight materials along with their augmenting application across the aerospace and defense industry. Also, the strength-to-weight proportion is higher in the composite film than steel or aluminum, which has raised their demand in enormous end-use industries. Moreover, weight reduction has proved to be an important aspect for the production sector, such as aviation and automobiles. In addition, numerous companies have endorsed these films to reduce complete weight and fuel the efficiency of the final product. These films can resist lightning strikes, which further promotes their adoption in commercial aircraft, including Boeing 787 and Airbus 350. Approximately 50 percent of this aircraft boy is composed of these films. Hence, all these factors supplement the market growth. However, excessive risks concerned with the production process and the development of economical technologies will hinder composite film market share.

Function Segment Drivers

Based on the Function, Lightning Strike Protection is projected to witness a higher CAGR during the forecast period. The aerospace & defense industry is their largest consumer. As per Lightning Technologies Inc., every airplane in the US commercial fleet gets smacked by lightning more than once a year, which fuels the requirement of these films on composite panels. Moreover, Airbus and Boeing's prediction for the coming decades has clearly stated that passenger traffic would increase, resulting in the production of new aircraft, which would require a huge amount of composite film.

Regional Drivers

Based on the regional coverage, North America is predicted to lead the market during the forecast period. This is primarily attributed to their mounting demand in the aerospace & defense sector. Also, the ongoing product expansion and modernization in the technological field have propelled the market growth.  According to the 24/7 Wall St., LLC, in the US, parts of Florida witnessed an average of 100 thunderstorm days in a year, making the region most likely for lightning strikes. Additionally, approximately 10 thunderstorms struck along the US West Coast per year, which is driving the market growth.

Composite Film Market’s leading Manufacturers:

·         Northern Composites

·         PARK AEROSPACE CORP.

·         TORAY INDUSTRIES, INC.

·         Gurit

·         Henkel AG & Co. KGaA

·         Axiom Materials, Inc

·         SOCOMOR

·         Solvay

·         Hexcel Corporation

·         3M

Composite Film Market Segmentation:

Segmentation by Resin Film Type

·         Epoxy

·         Other

Segmentation by Curing Type

·         Autoclave

·         Out-of-autoclave

Segmentation by Function

·         Lightning Strike Protection

·         Surface Protection

·         Other

Segmentation by End-User Industry

·         Aerospace & defense

·         Automotive

·         Other

Segmentation by Region:

·         North America

o   United States of America

o   Canada

·         Asia Pacific

o   China

o   Japan

o   India

o   Rest of APAC

·         Europe

o   United Kingdom

o   Germany

o   France

o   Spain

o   Rest of Europe

·         RoW

o   Brazil

o   South Africa

o   Saudi Arabia

o   UAE

o   Rest of the world (remaining countries of the LAMEA region)

About GMI Research

GMI Research is a market research and consulting company that offers business insights and market research reports for large and small & medium enterprises. Our detailed reports help the clients to make strategic business policies and achieve sustainable growth in the particular market domain. The company's large team of seasoned analysts and industry experts with experience from different regions such as Asia-Pacific, Europe, North America, among others, provides a one-stop solution for the client. Our market research report has in-depth analysis, which includes refined forecasts, a bird's eye view of the competitive landscape, key factors influencing the market growth, and various other market insights to aid companies in making strategic decisions. Featured in the 'Top 20 Most Promising Market Research Consultants' list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping our clients to stay ahead of the curve.

Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: Europe – +353 1 442 8820; US – +1 860 881 2270
Address: Dublin, Ireland
Website: www.gmiresearch.com