Lucintel Forecasts Composite Preforms Market to grow at a CAGR of 4.6%

According to the recent study the composite preforms market is projected to grow at a CAGR of 4.6% from 2020 to 2025. Growth in this market is primarily driven by increasing usage of composite materials in the aerospace and automotive industries, and growing demand of composite preforms to manufacture complex structure and shorten part cycle time.

Browse 114 figures / charts and 58 tables in this 149 -page report to understand trends, opportunities and forecast in composite preforms market by end use industry (aerospace, automotive, consumer goods, infrastructure, medical and marine), by technology (weaving, braiding, stitching , and knitting), by fiber type (carbon fiber, glass fiber, and others) and region (North America, Europe, Asia Pacific and ROW).

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“Carbon fiber market is expected to remain the largest segment during the forecast period.”

Based on fiber type, the composite preforms market is segmented into carbon fiber, glass fiber, and others. Lucintel forecasts that the carbon fiber market is expected to remain the largest segment and it is also expected to witness the highest growth over the forecast period due to its lightweight and high strength capabilities.

“Within the composite preforms market, the aerospace and defense segment is expected to remain the largest end use industry”

Based on end use industry, the aerospace and defense segment is expected to witness the highest growth over the forecast period due to increasing usage of preforms in turbofan engines and fuselage frames of commercial aircrafts and stator vane of jet engines. Automotive is expected to witness the highest growth over the forecast due to increasing penetration of composites in structural part of vehicle and growing demand of composite preform to shorten part cycle time.

“North America will dominate the composite preforms market in near future”

North America is expected to be the largest regions due to presence of aero-engine manufacturers, aerospace composite part fabricators, and OEMs. Europe is expected to witness the highest growth over the forecast period due to increasing production of A350WXB and A320.

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Major players of composite preforms market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Albany International Corp, A & P Technology, TEAM Textile. SGL Kumpers, Bally Ribbon Mills, SAERTEX, 3Tex, and Eurocarbon BV. are among the major composite preforms providers.

This unique 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 https://www.lucintel.com/composite-preforms-market.aspx or helpdesk@lucintel.com