Increase in Demand from Aerospace Sector Globally
With ever increasing fuel costs and environmental lobbying, commercial flying is under constant pressure to improve performance, and weight reduction is a key factor in the equation. Textile composites presented a solution to this equation as it is lightweight and promotes fuel efficiency. Other positive attributes include excellent fatigue and corrosion resistance and good impact resistance. Every year, the aerospace industry uses a higher proportion of textile composites in the construction of each new generation of aircraft, due to the provision of all-weather operation of commercial aircrafts and an enhanced vision system. Moreover, characteristics, such as temperature stability and durability, will further fuel the growth of the aerospace textile composites market, over the coming years.
Electrical & Electronics – One of the Largest Application
Textile composites are used in the electrical & electronics industry for their excellent insulating properties. Because of their high-modulus of elasticity, they are used primarily in fiber optic cables and protective enclosures for electrical parts in marine and aerospace applications. They offer flexibility, lightweight, dimensional stability, and increased strength in electro-mechanical cables and fine gauge cables for personal electronic device applications, such as computer power cords, mobile phone cables, MP3 earphone cables, and USB cords. Increasing demand from electronics industry is boosting the studied market.
Asia-Pacific – The Fastest Growing Market
Asia-Pacific region is expected to emerge as the fastest growing market for textile composites in the coming years. Globally, China has the largest defense spending in the world, after United States. The country is planning to boost its military spending by 8.1% in 2018 with the aim to further advance its armed forces. The defense expenditure in China would be over USD 174.5 billion in 2018. India is expected to increase its defense spending by 7.8% in 2018. In Japan, the Ministry of Defense requested a record 5,255 billion yen for 2018. Such positive growth in the defense budget, will increase the use of personal protective equipment in defense, which in turn will increase the usage of textile composites in the defense industry through the forecast period. Furthermore, the growing sports industry too has facilitated the consumption of textile composites in the Asia-Pacific region. Strong growth from various end-user industries is expected to boost the market through the forecast period.
Major Players: Advanced Textile Composites, China National Bluestar (Group) Co. Ltd, Composite Fabrics of America, DowDuPont, and Hyosung Corporation, amongst others.
Key Developments in the Market
March 2017: DowDuPont is shutting down a production line at its Chamber’s Works site. The Safety & Construction business is transitioning the manufacturing of its aramid intermediates from the Chambers Works Site in Deepwater, NJ to suppliers who have newer process technology.
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1.1 Scope of the Report
1.2 Market Definition
1.3 Study Assumptions
1.4 Study Deliverables
1.5 Research Phases
2. Executive Summary
3. Market Insights
3.1 Industry Value-Chain Analysis
3.2 Industry Attractiveness – Porter’s Five Forces Analysis
3.2.1 Bargaining Power of Suppliers
3.2.2 Bargaining Power of Consumers
3.2.3 Threat of New Entrants
3.2.4 Threat of Substitute Products and Services
3.2.5 Degree of Competition
4. Market Dynamics
4.1.1 Increase in Demand from Aerospace Sector Globally
4.1.2 Growing Need for Fuel Efficiency
4.2.1 Low Resistance to Impact
4.2.2 Other Restraints
4.3.1 Emerging Applications in the Optical Fiber Industry
4.3.2 Other Opportunities
5. Market Segmentation and Analysis (Market Size, Growth and Forecast)
5.1 By Fiber Type
5.2 By Application
5.2.1 Aerospace & Defense
5.2.2 Electrical & Electronics
5.2.4 Sporting Goods
6. Regional Market Analysis (Market Size, Growth and Forecast)
6.1.4 South Korea
6.1.5 ASEAN Countries
6.1.6 Rest of Asia-Pacific
6.2 North America
6.2.1 United States
6.2.4 Rest of North America
6.3.2 United Kingdom
6.3.6 Rest of Europe
6.4 South America
6.4.3 Rest of South America
6.5 Middle East & Africa
6.5.1 Saudi Arabia
6.5.2 South Africa
6.5.3 Rest of Middle East & Africa
7. Competitive Landscape
7.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
7.2 Market Share Analysis**
7.3 Strategies Adopted by Leading Players
8. Company Profiles (Overview, Financials**, Products & Services, Recent Developments)
8.1 Advanced Textile Composites
8.2 China National Bluestar (Group) Co. Ltd
8.3 Composite Fabrics of America
8.5 HINDOOSTAN MILLS
8.6 HUVIS Corporation
8.7 Hyosung Corporation
8.9 Kolon Industries Inc.
8.11 Teijin Aramid
8.12 Toray Chemical Korea Inc.
8.13 Yantai Tayho Advanced Materials Co., Ltd
*List not Exhaustive
** Subject to availability on public domain
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
The market engineering phase involves analysing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.