Fiber Reinforced Composites Introduction:

Fiber-reinforced composites refer to the production and consumption of composite materials made up of a matrix material reinforced with fibers. These composites are used in a wide range of applications such as aerospace, automotive, construction, marine, and sports and leisure.

Based on Type, the market is segmented into Carbon, Aramid, Glass, and Others. The Glass Fibers category dominates the Fiber Reinforced Composites Market. This is due to the increasing demand for Glass Fiber composite material in front and rear bumpers, hoods, doors, casings, etc. Glass Fibres are lightweight, more elastic nature, ability to allow partial light, cost efficiency, high strength, and heat resistance. They are also commonly used in aircrafts because of their superior tensile strength and compressive strength qualities. They are used to make air ducts, cargo liners, floorings, and other cabin parts.

Carbon fiber-reinforced composites offer high strength and stiffness at a lower weight than traditional materials, making them ideal for applications such as aerospace, automotive, and sports equipment. The use of carbon fiber reinforced composites is increasing due to advances in manufacturing processes and the availability of lower-cost carbon fibers. Carbon Fiber Composites are used in the wings of aircrafts which can help in reducing the weight of the aircraft by 50,000 pounds. These composites offer high chemical resistance, superior strength-to-weight ratio, high stiffness, and low thermal expansion.

Market Overview:

The Automotive segment holds the largest share in the global Fiber Reinforced Composites market. Fiber Reinforced Composites are used to make various automotive components such as seat structures, bumpers, hoods, and fuel tanks. Automotive composite materials help to improve durability, good load–bearing requirements, and achieve a reduction in vehicle weight. The increasing demand for fuel-efficient vehicles is driving the demand for lightweight materials which will positively impact the fiber reinforced composites market. Fiber Reinforced Composites are also being progressively used in new applications such as medical devices, drones, and renewable energy systems. 

Asia Pacific accounts for the largest share in the Fiber Reinforced Market on the back of China being the largest manufacturer of automobiles globally. The rising industrialization and disposable income have led to an increase in the demand for automobiles. North America also holds a significant share of the Fiber Reinforced Composites market due to the presence of matured end-use markets like Automotive, Aerospace, and Construction.

Top Fiber Reinforced Composites Manufacturers:

• BASF
• A. Schulman, Inc.
• DSM
• DowDuPont
• SABIC
• Avient
• Huntsman Corporation

Demand Analysis:

The growing demand for lightweight materials in the Automotive and Aerospace industries will boost the Fiber Reinforced Composites market in the forecast period. Fiber reinforced composites offer high strength and stiffness at a much lower weight than traditional materials such as metals. This makes them ideal for applications where weight is a critical factor, in industries such as Aerospace and Automotive. These composites can help reduce fuel consumption, minimize CO2 emissions, and enhance the range. Emission control is the main concern for developing highly advanced composite materials for use in the automobiles and structural components of aircraft. As a result, the demand for Fiber Reinforced Composites is increasing in the Aerospace and Automotive Industries.

The Fiber Reinforced Composites market is driven by the need for lightweight, high-strength materials in a wide range of industries. However, the composites have a few restraints as well which are:

• The cost of fiber-reinforced composites is generally higher than traditional materials such as metals and plastics. This can limit their adoption in some applications, particularly in cost-sensitive industries.
• The recycling and disposal of fiber-reinforced composites can be challenging due to the complex nature of the materials. This can lead to environmental concerns and limit their adoption in certain applications.