Rail Composites Market to offer a healthy CAGR of 10.2% during 2020-25
February 11, 2020
Rail Composites Market Overview:
Rail composites market is likely to witness an impressive CAGR of 10.2% during the forecast period. The global market is witnessing high growth, owing to the growing use of rail composites in various applications, such as interior and exterior components. Diminishing cost of rail composite processing and lessened cycle time are further expected to drive the market globally during the forecast period.
Report Overview:
This report from Stratview Research studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
- Strategic segmentation
- Market analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Detailed Competitive Rivalry landscaping
- Market trend and forecast analysis
- Future Growth Boulevards
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Rail Composites Market Segment Insights:
Glass Fiber Composites: The growth engine
Based on the fiber type, the market is segmented as glass fiber composites and carbon fiber composites. The glass fiber composites segment is the widely consumed rail composite across the globe. A maximum of rail composite materials delivers premium properties against traditional materials and offer flexibility, enabling them to be moldable in any form. The usage of composites in rail makes it lighter and provides enhanced confrontation to heat, external influence, and furthers fuel efficiency. In addition, rail makers are converging on overall vehicle- weight reduction.
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Dominance of: Interior Components Applications
Based on the application type, the market is segmented as exterior and interior components. The interior components application segment is beholding the high demand. The engagement of carbon fiber composite in various rail applications has an extensive area of expansion, but its high cost is impeding the employability of carbon fiber composite in the rail industry.
A highly/moderately/fragment consolidated Market
Some of the major players in the rail composites market are Cytec Industries Inc., Dartford Composites Ltd., FDC Composites Inc., Gurit Holding AG, Hexel Corporation, Kemrock Industries And Exports Limited, Koninklijke Ten Cate nv, Premier Composite Technologies, Toray Industries Inc., and TPI Composites Inc.
Regional Hegemony of Asia-Pacific
In terms of regions, the Asia-Pacific and the European regions accounted for the world’s largest rail composites market in 2018. China is estimated to be the major consumer of rail composite in the Asia-Pacific region in the coming five years. The market is driven by the development of high-speed train in China and South Korea in the Asia-Pacific region. North America and Europe are also expected to offer considerable growth opportunities during the forecast period.
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