(MENAFN- IMARC Group) According to IMARC Group latest report titled” Rail Composites Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025”, the market is currently witnessing strong growth. The global Rail Composites market to exhibit moderate growth during the next five years.
Market Trends:
Rail composites refer to different synthetic materials used to enhance the flexibility and performance of train designs. Some of the common resins that are widely used as rail composites include polyester, phenolic, epoxy and vinyl esters. They are primarily utilized to manufacture the interior and exterior components of the trains, such as ceilings, flooring, seats, wall panels, toilet modules, and doors. Rail composites offer better resistance against high temperatures, humidity, stress, fire and corrosion, in comparison to their metallic counterparts. These materials also enhance the aesthetic appeal of the compartment and minimize the energy consumption, noise and vibration to enhance passenger comfort.
The market is primarily propelled by the significant growth in the travel and tourism industry, along with the increasing consumer preferences towards luxury travel experience. Additionally, the growing emphasis of rail manufacturers on the use of energy-efficient and cost-effective raw materials is further driving the market growth. Due to the escalating demand for high-speed rail (HSR), rail composites are widely adopted to manufacture lightweight components of the trains to minimize the overall structural weight. Moreover, several product innovations, such as the development of natural fiber and resin-based variants that are biodegradable and sustainable substitutes to the existing composites, will further continue to drive the market for rail composites in the coming years.
Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
3A Composites Holding AG
AIM Altitude
Dartford Composites Ltd.
FDC Composites Inc.
Gurit Holding AG
Hexcel Corporation
Koninklijke Ten Cate B.V.
Teijin Limited
Toray Industries Inc.
TPI Composites Inc
Rail Composites Market Segmentation:
Our report has categorized the market based on Region, Fiber Type, Resin Type and Application.
Market Breakup by Fiber Type:
Glass Fiber Composite
Carbon Fiber Composite
Others
Market Breakup by Resin Type:
Polyester
Vinyl Ester
Phenolic
Epoxy
Others
Market Breakup by Application:
Interior
Exterior
Market Breakup by Region:
North America
Asia Pacific
Europe
Latin America
Middle East and Africa
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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