Composite Film Market Size, Share, Growth Opportunities, Outlook, Statistics, Market Scope, Revenue, Research, Trends Analysis & Global Industry Forecast Report, 2021-2028
Composite Film Market Size, Share & Analysis Report by Resin Film Type (Epoxy and Other), By Curing Type (Autoclave and Out-of-autoclave), By Function (Lightning Strike Protection, Surface Protection and Other), By End-User Industry (Aerospace & defense, Automotive and Other) and By Region – Global Opportunities & Forecast, 2021-2028
Introduction of the Composite Film Market Report
A minor element reacting with the major element and forms an intermetallic phase, which is then diffused in the major phase is referred as composite films. Some of the characteristics offered by composite films are tenacity, electrical and thermal conductivity, fatigue, strength, density, and corrosion resistance.
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Market Dynamic
Key Drivers and Emerging Trends
The factors driving the global Composite Film market include increasing demand for fuel-efficient, lightweight materials and the expanding use of composites in the aerospace & defense industry. The strength-to-weight ratio in the composite films is higher than aluminum or steel, which has increased its demand in several end-use industries. Weight reduction has become an essential aspect of manufacturing industries such as aviation and automobiles. Several companies are already adopting composite films to decrease overall weight and increase the efficiency of the final product. Moreover, composite films can withstand lightning strikes, which is boosting its demand in commercial aircraft such as Boeing 787 and Airbus 350. About 50 percent of this aircraft body is made with composite films. Hence, such factors are aiding in expanding composite film market size.
Restraint in the Composite Film Market
However, the high risks related to the manufacturing process and developing low-cost technologies are key factors restraining the growth of the global Composite Films Market.
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Function – Segment Analysis
Based on the Function, the Lightning Strike Protection segment is expected to grow at a higher CAGR during the forecast period. The aerospace & defense end-use industry is the largest consumer of lightning strike protection composite film. According to Lightning Technologies Inc., every airplane in the US commercial fleet gets struck by lightning more than once a year, which raises the need for these films on composite panels. Moreover, Airbus and Boeing’s forecast for the next two decades has clearly declared that passenger traffic would increase, resulting in the manufacturing of new aircraft, which would require a huge amount of composite film.
End-User Industry – Segment Analysis
Based on the End-User Industry, the Aerospace and Defense segment is expected to grow at a higher CAGR during the forecast period. This segment is the largest consumer of composites, thereby increasing the demand for composite films. Leading aircraft manufacturers like Boeing and Airbus are rapidly adopting the use of carbon composites and composite films in manufacturing commercial aircraft. They are also used in fuselage, wings, tail, tail fin, wing box, trailing edge, engine nacelles, and various other structural parts of an aircraft. Furthermore, growing environmental concerns and the search for durable, lightweight materials to increase fuel efficiency have shifted the attention of the automotive industry towards composites and simultaneously composite films.
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Regional – Segment Analysis:
Based on the region, the North America region is projected to dominate the market during the forecast period. It holds the largest composite film market share amongst other regions. This can be attributed due to the rising demand for composite films in the aerospace & defense sector in the region. Also, the demand for composite film in aerospace & defense, automotive, and other industries is forecasted to surge due to product innovation and advancement in the technological field made in this sector. In 2019, according to the 24/7 Wall St., LLC, in the US, parts of Florida experience an average of 100 thunderstorm days in a year, making Florida the most likely place in the US for lightning strikes. Additionally, an average of 10 thunderstorms struck along the US West Coast annually. Hence, these factors drive the demand for composite films during the forecast period.
Top Market Players
Various notable players operating in the market include 3M, Henkel AG & Co. KGaA, Hexcel Corporation, Gurit, Solvay, TORAY INDUSTRIES, INC., SOCOMORE, PARK AEROSPACE CORP., Axiom Materials, Inc., Northern Composites., among others.
Key Developments:
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- In 2019, Solvay signed an agreement with Safran for the delivery of high-temperature composites and adhesives. Safran focuses on using these advanced materials on several of its critical engine components. This would strengthen the position of Solvay in the composite film market.
- In 2018, TORAY INDUSTRIES, INC. procured TenCate Advanced Composites to pace up the growth in advanced composites for both companies. This acquisition aims at increasing the demand for the composite surfacing film product and thereby help Toray to sustain itself in the market.
- In 2018, Hexcel Corporation collaborated with Arkema for manufacturing carbon fiber-based thermoplastic composite solutions for the aerospace industry. This promoted the company to become an industry leader in advanced composite thermoplastic technologies.
Segments covered in the Report:
The global Composite Film market has been segmented on the basis of Resin Film Type, Curing Type, Function, End-User Industry and regions. Based on Resin Film Type, the market is segmented into Epoxy and Other. Based on Curing Type, the market is segmented into Autoclave and Out-of-autoclave. Based on Function, the market is segmented into Lightning Strike Protection, Surface Protection and Other. Based on End-User Industry the market is segmented into Aerospace & defense, Automotive and Other.
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Key questions answered in this research report:
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- At what pace is global Composite Film market growing? What will be the growth trend in the future?
- What are the key drivers and restraints in Composite Film market? What will be the impact of drivers and restraints in the future?
- What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Composite Film market?
- Which Resin Film Type generated maximum revenues in 2019 and identify the most promising Resin Film Type during the forecast period?
- What are the various Curing Type areas of global Composite Film market and how they are poised to grow?
- What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?
Report Coverage |
Details |
Market Base Year |
2020 |
Market Forecast Period |
2021-2028 |
Market Revenues Currency |
USD Million |
Base Year & Forecast Units |
Revenues (USD Million) |
Market Segment | By Resin Film Type, By Curing Type, By Function, By End-User Industry, By Region |
Regional Coverage | Asia Pacific, Europe, North America, and RoW |
Companies Profiled | 3M, Henkel AG & Co. KGaA, Hexcel Corporation, Gurit, Solvay, TORAY INDUSTRIES, INC., SOCOMORE, PARK AEROSPACE CORP., Axiom Materials, Inc., Northern Composites., among others; a total of 10 companies covered. |
25% Free Customization Available | We will customize this report up to 25% as a free customization to address our client’s specific requirements |
Market Segmentation
Global Composite Film Market by Resin Film Type
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- Epoxy
- Other
Global Composite Film Market by Curing Type
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- Autoclave
- Out-of-autoclave
Global Composite Film Market by Function
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- Lightning Strike Protection
- Surface Protection
- Other
Global Composite Film Market by End-User Industry
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- Aerospace & defense
- Automotive
- Other
Global Composite Film Market by Region
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- North America Composite Film Market (Option 1: As a part of the free 25% customization)
- North America Composite Film Market by Resin Film Type
- North America Composite Film Market by Curing Type
- North America Composite Film Market by Function
- North America Composite Film Market by End-User Industry
- US Composite Film Market All-Up
- Canada Composite Film Market All-Up
- Europe Composite Film Market (Option 2: As a part of the free 25% customization)
- Europe Composite Film Market by Resin Film Type
- Europe Composite Film Market by Curing Type
- Europe Composite Film Market by Function
- Europe Composite Film Market by End-User Industry
- UK Composite Film Market All-Up
- Germany Composite Film Market All-Up
- France Composite Film Market All-Up
- Spain Composite Film Market All-Up
- Rest of Europe Composite Film Market All-Up
- Asia-Pacific Composite Film Market (Option 3: As a part of the free 25% customization)
- Asia-Pacific Composite Film Market by Resin Film Type
- Asia-Pacific Composite Film Market by Curing Type
- Asia-Pacific Composite Film Market by Function
- Asia-Pacific Composite Film Market by End-User Industry
- China Composite Film Market All-Up
- India Composite Film Market All-Up
- Japan Composite Film Market All-Up
- Rest of APAC Composite Film Market All-Up
- RoW Composite Film Market (Option 4: As a part of the free 25% customization)
- RoW Composite Film Market by Resin Film Type
- RoW Composite Film Market by Curing Type
- RoW Composite Film Market by Function
- RoW Composite Film Market by End-User Industry
- Brazil Composite Film Market All-Up
- South Africa Composite Film Market All-Up
- Saudi Arabia Composite Film Market All-Up
- UAE Composite Film Market All-Up
- Rest of world (remaining countries of the LAMEA region) Composite Film Market All-Up
- North America Composite Film Market (Option 1: As a part of the free 25% customization)
Major Players Operating in the Composite Film (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)
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- 3M
- Henkel AG & Co. KGaA
- Hexcel Corporation
- Gurit
- Solvay
- TORAY INDUSTRIES, INC.
- SOCOMORE
- PARK AEROSPACE CORP.
- Axiom Materials, Inc.
- Northern Composites.
- Published Date: Jul - 2021
- Report Format: Excel/PPT
- Report Code: UP947A-00-0620
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Composite Film Market Size, Share, Growth Opportunities, Outlook, Statistics, Market Scope, Revenue, Research, Trends Analysis & Global Industry Forecast Report, 2021-2028
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