Polymer Matrix Composites

Polymer Matrix Composites Market - Global Industry Insights,
Trends, Outlook, and Opportunity Analysis, 2018–2025
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.
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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 (2018-2025).
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
(2018-2025).
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.
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posites-market-560
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Polymer Matrix Composites Market report categorizes global market by end-use industry and product type - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018–2025

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