The Composites Market in the Global Rail Industry Is Expected to Reach $821 Million by 2021
IRVING, Texas, September 19, 2017 (Newswire.com) - According to a new market report published by Lucintel, the future of global rail composites market looks good with opportunities in the interior and exterior applications. The market for composites applications in the global rail industry is expected to reach an estimated $821 million by 2021 and it is forecast to grow at a CAGR of 3.6 percent from 2016 to 2021. The major drivers for the growth of this market are increased demand for lightweight materials and development of high-speed trains. Furthermore, composites offer higher performance benefits than traditional materials like steel and aluminum.
This report has 113 figures/charts and 37 tables spread through 137 pages. For more detail please click http://www.lucintel.com/composites_in_rail_industry_2016.aspx.
Rail composites market companies profiled in this market report include Joptek Composites, Sintex Wausaukee Composites, Exel Composites, Miles Fiberglass & Composites, and TPI Composite.
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On the basis of comprehensive research, Lucintel forecasts that the interior segment is expected to show above-average growth during the forecast period of 2016 to 2021.
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By application in the global rail industry, the interior segment is expected to remain the largest market by volume. Increasing demand for high performance, fire retardant materials with good aesthetic properties are the major driving forces that spur growth for this segment over the forecast period.
Europe is expected to remain the largest market for composite consumption in the rail industry, whereas APAC is likely to witness the highest growth rate during the forecast period due to expected increase in high-speed train production and growing demand for mass transportation in the region.
Emerging trends which have a direct impact on the dynamics of the industry include the development of green technology products and high-performance composites for interior and exterior applications. Joptek Composites, Sintex Wausaukee Composites, Exel Composites, Miles Fiberglass & Composites, and TPI Composite are among the major molders in the global rail composites market.
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The study includes a forecast for the growth opportunities for the composites market in the global rail industry by end use application, resin, fiber, manufacturing process, and region as follows:
By end-use application [Volume (M lbs) and Value ($ Million) from 2010 to 2021]:
- Interior
- Exterior
By manufacturing process [Volume (M lbs) and Value ($ Million) from 2010 to 2021]:
- Open mold
- Pultrusion
- RTM/VARTM
- SCRIMP
- Injection Molding
- Others
By fiber [volume (M lbs) and Value ($ Million) from 2010 to 2021]:
- Glass fiber
- Carbon fiber and Others
By resin [volume (M lbs) and Value ($ Million) from 2010 to 2021]:
- Polyester
- Vinyl Ester
- Phenolic
- Epoxy
- Others
This 137-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link http://www.lucintel.com/toc/composites_in_rail_industry_2016.aspx or helpdesk@lucintel.com.
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Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. We offer market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit us at www.lucintel.com.
Source: Lucintel