The newly launched report by Stratview Research, titled ‘Rail Composites Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity has been bifurcated by Fiber Type (Glass Fiber Composites, Carbon Fiber Composites), by Resin Type (Polyester, Phenolic, Epoxy, and Vinyl ester), by Application Type (Exterior, Interior), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
According to the report, the 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.
Rail composites are growing across the globe due to their amazing benefits towards the railway industry globally. Some of the amazing benefits of using glass fiber composites and carbon fiber composites for rail components are cost-effectiveness, better safety, and increased payload, faster acceleration of train, customizable solutions, and lower maintenance.
Rail composites are used for both exteriors as well as interior parts and make use of different resins such as polyester, epoxy, phenolic, and vinyl ester.
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Key Players
The following are the key players in the market-
• 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.
• TPI Composites Inc.
Segment Analysis
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, and external influence, and furthers fuel efficiency. In addition, rail makers are converging on the overall vehicle-weight reduction.
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.
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.
Research Methodology
Stratview Research's reports are the result of a thorough analysis that combines thorough secondary, and primary interviews with industry leaders, and confirmation using unique internal database and statistical methods. More than 1,000 verified secondary sources, such as annual reports from companies, press releases, fact books, journals, white papers, and blogs are reviewed and analysed.
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