Rise in demand from the automotive & aerospace sector and demand from the construction sector drive the global fiber reinforced composites market. The market across Asia-Pacific held the lion’s share in 2019, accounting for around two-fifths of the market. The consumer spending patterns changed during the pandemic and customers delayed purchasing new vehicles to minimize the spending, reducing demand for new automotive.
Some ruling enterprises in the global fiber reinforced composites market are examined in the report along with the citation of innovative product launches by them, their collaborative undertakings & endeavors, several merges & acquisitions, and many more. The frontrunners operating in the global fiber reinforced composites industry include Avient Corporation, Hexcel Corporation, Mitsubishi Chemical Holdings, Plasan Carbon Composites, Rochling Group, SABIC.
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COVID-19 impact analysis
The outbreak of the COVID-19 pandemic left a significant impact on the global economy. The fiber reinforced composites market report provides a detailed study of the micro- and macro-economic impacts of the pandemic. Moreover, the analysis depicts the direct impact of COVID-19 on the fiber reinforced composites market. It recapitulates the detailed information about the market extent and shares owing to the impact of the outbreak. The report also emphasizes on the supply chain and the sales of the fiber reinforced composites market. Last but not the least; the study also exhibits a post-COVID-19 scenario, portraying different measures and initiatives taken by the government bodies across the world.
The thermoset composites segment dominated in 2019, contributing to nearly three-fifths of the market. However, the segment of the thermoplastic composites is projected to register the highest CAGR of 6.3% during the forecast period.
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The market across Asia-Pacific held the lion’s share in 2019, accounting for around two-fifths of the market. In addition, the region is anticipated to showcase the highest CAGR of 7.4% during the forecast period.
Major Inclusions-
- Qualitative as well as quantitative assessment of the market on the basis of the detailed categorization involving both the economic and non-economic factors.
- Analysis at country and regional level, which portrays the share of the product or service in different regions.
- Elaborative company profiles section, which provides different pointers such as key executives, business enactment, company overview, product/service portfolio, R&D expenditure, current scenario, and prime strategies of the key market players.
- The forecasted market outlook of the fiber reinforced composites market based on recent developments, which incorporate the analysis of drivers, market trends, and growth opportunities.
- The COVID-19 impact on the fiber reinforced composites market
- Post-sales support and free customization
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