Polymer Matrix Composites Market by End-user and Geography - Forecast and Analysis 2022-2026

The polymer matrix composites market share is expected to increase by USD 3.76 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 6.50%.

This polymer matrix composites market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by end-user (aircraft and aerospace industry, automotive industry, marine, and others) and geography (North America, Europe, APAC, MEA, and South America). The polymer matrix composites market report also offers information on several market vendors, including Arkema SA, BASF SE, DuPont de Nemours Inc., Hexcel Corp., Mitsubishi Chemical Holdings Corp., SGL Carbon SE, Solvay SA, Thermo Fisher Scientific Inc., Toray Industries Inc., and TPI Composites Inc. among others.

What will the Polymer Matrix Composites Market Size be During the Forecast Period?

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Polymer Matrix Composites Market: Key Drivers and Trends

The increasing demand for polymer matrix composites in the automotive industry is notably driving the polymer matrix composites market growth, although factors such as challenges associated with fiber-reinforcement polymer matrix composites may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the polymer matrix composites industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Driver for the Polymer Matrix Composites Market

Increasing demand for polymer matrix composites in the automotive industry is one of the key drivers for the polymer matrix composites market growth. Rising environmental concerns related to pollution from vehicles have led to a rise in the adoption of polymer matrix composites. Factors such as lightweight, high-temperature resistance, high impact resistance, and high shelf life have predominantly led to an increase in the demand for polymer matrix composites in the automotive industry. Automotive manufacturers are compelled to manufacture lightweight, fuel-efficient, and environment-friendly automobiles, owing to stringent environmental regulations to reduce carbon dioxide emissions from vehicles. Hence, increasing vehicle production across the globe will drive the use of polymer matrix composites.

Key Challenge for the Polymer Matrix Composites Market

Difficulty in the uniform dispersion of fibers is one of the major challenges associated with fiber-reinforcement polymer matrix composites. Fibers are uniformly dispersed to exhibit high impact and tensile strength. The process is time-consuming and requires a highly experienced workforce. During this process, fibers are uniformly dispersed, forming a mass of particulate agglomerate, which is used for various processes such as sheeting and transfer molding. The lack of plastic behavior and very low shear strength in the transverse direction are the other challenges associated with fiber-reinforced polymer composites. These challenges are expected to limit the growth of the global polymer matrix composites market size during the forecast period. 

This polymer matrix composites market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Who are the Major Polymer Matrix Composites Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

• Arkema SA
• BASF SE
• DuPont de Nemours Inc.
• Hexcel Corp.
• Mitsubishi Chemical Holdings Corp.
• SGL Carbon SE
• Solvay SA
• Thermo Fisher Scientific Inc.
• Toray Industries Inc.
• TPI Composites Inc.

This statistical study of the polymer matrix composites market encompasses successful business strategies deployed by the key vendors. The polymer matrix composites market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The polymer matrix composites market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Polymer Matrix Composites Market?