According to
a new market report published by Lucintel, the future of composites in the
global rail industry 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%
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.
In this
market, interior and exterior components which include seats, panels, doors, front end cab, toilet modules,
roof, luggage rake etc. are the major end use applications. 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.
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.
By manufacturing
process, open mold is expected to remain the largest market for the rail
composites. By fiber, glass fiber is expected to be dominant for rail
composites industry. By resin, polyester is expected to be the most preferred
resin in the rail composites industry.
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.
For business expansion,
Lucintel’s report suggests innovation and new product development to achieve
higher strength and stiffness, increased FST requirements, weight reduction,
and improved aesthetics.
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.
Lucintel, a
leading global strategic consulting and market research firm, has analyzed
growth opportunities in the composites market in the global rail industry by
end use application, manufacturing process, fiber, resin, and region, and has compiled
a comprehensive research report entitled
“Growth
Opportunities for Composites in the Global Rail Industry 2016-2021: Trends,
Forecast, and Opportunity Analysis.” The Lucintel report serves as a
springboard for growth strategy by providing comprehensive data and analysis on
trends, key drivers, and directions. 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
By region [volume
(M lbs) and Value ($ Million) from 2010 to 2021]:
· North America
· Europe
· Asia Pacific
· Rest of the World
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
helpdesk@lucintel.com. Lucintel
offerings include Advanced Materials Reports, Composite Materials Market Report, Opportunity Screening and Analysis, Capital Investment Feasibility and SWOT
Analysis.
About
Lucintel
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.
This report addresses the following key
questions:
Q. 1. What are some of the most promising, high-growth
opportunities for composites in rail industry by end use application (interior,
exterior), manufacturing process (open mold, pultrusion, RTM/VARTM, SCRIMP,
injection molding and others), fiber (glass fiber, carbon fiber and others),
resin (polyester, vinyl ester, phenolic, epoxy and others) and by region (North
America, Europe, Asia Pacific, and the Rest of the World)?
Q. 2. Which products segments will grow at a faster pace
and why?
Q. 3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics?
What are the drivers, challenges, and business risks in this market?
Q.5. What are the business risks and competitive threats in
this market?
Q.6. What are emerging trends in this market and the reasons
behind them?
Q.7. What are some of the changing demands of customers
in the market?
Q.8. What are the new developments in the market and
which companies are leading these developments?
Q.9. Who are the major players in this market? What
strategic initiatives are being taken by key companies for business growth?
Q.10. What are some of the competing products in this
market and how big of a threat do they pose for loss of market share by product
substitution?
Q. 11. What M&A activity has occurred in the last 5
years?
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