South America Transportation Composites Market: Industry Analysis and Forecast (2021-2027) Trends, Statistics, Dynamics, Segmentation by Fiber, Manufacturing Process and Region
South America Transportation Composites Market was valued at USD 5.5 billion in 2021. The South America Transportation Composites Market size is estimated to grow at a CAGR of 3.8% over the forecast period
Format : PDF | Report ID : SMR_820
South America Transportation Composites Market Definition:
Transportation composites are employed in a wide range of industries, including aquatics, aerospace and defense, automotive, and others. Composites have increased abrasion resistance, greater immobility, high modulus, amazing strength, low density, superior chemical resistance, and little creep, making them ideal for usage in automobile machinery, internal car panels, and aviation structures, among other things.
Further, the European Transportation composites market is segmented by Fiber, Manufacturing process, and geography. Based on Fiber, the European Transportation composites market is segmented under Glass, Carbon, and Natural. Based on the Manufacturing Process, the market is segmented under Compression Molding, Injection Molding, and Resin Transfer Molding. By geography, the market covers the major countries in South America i.e., Brazil, Columbia, Venezuela, Chile, and the Rest of South America for each segment, the market sizing and forecasts have been done based on value (in USD Billion).
South America Transportation Composites Market Dynamics:
Market Drivers: There is a growing need for lightweight materials in South America. The composites market is growing in response to the growing demand for lightweight materials in the automobile sector to improve fuel efficiency. In addition, the use of high-performance composites in kinetic buildings is growing, with advanced composite technologies such as non-composite and biomimetic composite materials replacing traditional materials. As a result of the increased need for lightweight materials, the transportation composites market is likely to grow over the next few years.
Market Restraints: in South America as a result of a scarcity of materials and a lack of methodological uniformity, aircraft, and automotive manufacturers are forced to choose conservative designs, which limit mass production and economic performance. Also, people resources are scarce with composites training and experience, limiting composites' use in new applications. As a result, the manufacturing market's lack of homogeneity is hindering its growth.
Recent Market Developments: In July 2021, the South American Market expansion will be fueled by demand for lightweight components. Because of its exceptional features such as high strength and durability, glass fiber transportation composites are still preferred.
Due to their numerous strengths that make them suited for high-temperature environments, thermosetting composites will continue to be in demand through 2030. Over the next decade, market participants will continue to benefit significantly from South America. The automotive market currently uses carbon fiber reinforced plastic (CRFP) for OEM components in over 100 vehicles. "OEMs are betting on transportation composites to reduce vehicle emissions, reduce vehicle weight, and consequently improve fuel efficiency," according to an FMI analyst.
South America Transportation Composites Market Segment Analysis:
Glass Fiber: In 2021, the glass fiber composites category dominated the market, accounting for approximately 61.1 % of revenue. These fibers are used in industrial and manufacturing applications because of their advantageous qualities such as minimal thermal growth, high stiffness, high-temperature tolerance, strong chemical resistance, and low weight.
Carbon fiber: is made up of carbon atoms that are bound together in parallel crystals to form a fiber, which is then mixed with other materials to make a composite. These fibers are used in industrial and manufacturing applications because of their advantageous qualities such as minimal thermal growth, high stiffness, high-temperature tolerance, strong chemical resistance, and low weight.
Fiber-Reinforced Plastic (FRP) frequently uses glass fibers (woven or chopped or both). Polyester, vinyl ester, or epoxy resin is used to embed the fibers in a matrix. FRP is typically manufactured in an open or one-sided mold. FRP is used in the automotive market to make heavy-duty vehicle hoods, for example. Sheet Molded Composite is made out of a polyester resin matrix (SMC). It's constructed out of resin sheets and a material matrix, which is commonly chopped glass. SMC sheets are compressed and formed in a heated mold (two-sided) with a heat applied to cure the SMC. Typical uses include automotive liftgate skins and personal watercraft decks and hulls. Urethane adhesives are an excellent alternative for attaching FRP and SMC.
Natural Fiber: Boosted penetration in pipe manufacturing applications has resulted from technological advancements that have increased the strength and endurance of these composites. The market is expected to benefit from rising demand for high-strength materials in the automotive and aerospace industries over the period. Other fiber options include silicon carbide fiber, aromatic polyamide fiber, and hybrid fiber.
The market is expected to benefit from rising demand for high-strength materials in the automotive and aerospace industries over the period. Silicon carbide fiber, aromatic polyamide fiber, and hybrid fiber are some of the other products available. Carbon and silicon combine to form silicon carbide fiber. It is found in nature as moissanite, an extremely uncommon mineral with high-temperature resistance, high modulus, high tensile strength, and good heat resistance.
By Manufacturing Process: In 2021, the layup procedure for making composites dominated the market, accounting for approximately 33.7 % of sales. Increasing manufacturing of boats, wind turbine blades, and architectural molding is expected to drive the layup process segment's growth in the total composites market over the next few years.
Golf club shafts, automotive drive shafts, small plane fuselages, spacecraft components, pressure vessels such as firefighter oxygen bottles, and other goods have all benefitted from advancements in the filament winding process. The filament winding process is likely to rise in the future due to increased output in the automotive and marine industries.
Compression Molding process: Transportation composite manufacturing procedures include compression molding, injection molding, and resin transfer molding. Compression molding is a high-volume molding process that delivers fast cycle times, consistent parts, and the ability to shape metal inserts, ribs, and bosses into the part. Some of the materials used in compression molding procedures are sheet molding (SMC), bulk molding (BMC), thick molding(TMC), and wet molding (also known as liquid molding or cold molding). During the compression molding process, the heated matched metal mold set is inserted in a massive hydraulic press. After loading a pre-weighed quantity of molding compound into the mold, the press is closed. Under the pressure and temperature of the tool set, the material cures quickly.
Compression molding reduces labor costs by reducing subsequent machining and finishing procedures. Injection molding entails pouring molten plastic components into a mold, chilling them, and hardening them. The approach is well-suited to the mass-production of items with complex geometries, and it plays a significant role in the field of plastic processing. Compression molding is a molding process that involves preheating the material and placing it in an open, heated mold chamber. The method is frequently utilized in the automotive, aerospace, and marine industries to create larger flat or curved composite parts. Moreover, applications in wind energy sectors are likely to offer growth momentum to the compression molding process.
Injection molding Process: The growing demand for lightweight components in automobile manufacturing is expected to aid the demand for the injection molding process and increase in demand for high-strength components through the period, the aerospace and marine industries are likely to support the market. The extrusion process is a cost-effective way to make fiber-reinforced composite goods. The procedure can be utilized with thermoplastic matrices such as Polyethylene Terephthalate (PET) and Polybutylene Terephthalate (PBT), either by enclosing the glass fiber with thermoplastic matrix sheet material or by powder impregnation.
In Transportation Composites Market One of the most difficult markets for composites is Central and South America. Over the previous decade, the region's political and economic volatility has had a significant impact on the market progress. Demand is expected to be supported by increased investments in the region's vehicle manufacturing market. The market in Europe is being influenced by growing demand from the automotive sector, an increase in defense budgets in several nations, and an increase in demand from the electronics market. Also, increased awareness of the product's benefits among manufacturers is expected to boost the market growth in the region.
Composites are in high demand due to the growing demand for lightweight materials in the automobile market. Over the period, rising electrical and electronics capacity increases, as well as consistent growth in the automotive and aerospace sectors, are likely to boost the market growth. The rising use of composite materials in many end-use sectors has been attributed to their high weight-to-strength ratio. Composites' superior features, such as design flexibility, corrosion resistance, and great performance at high temperatures, make them less vulnerable to alternatives. The market is competitive, with a few big firms controlling a large portion of the market.
Due to their R&D capabilities, new entrants find it difficult to compete profitably in the market. However, the market's potential is expected to be boosted by the development of items for specific applications to improve composites output. As a result, market competition is likely to be fierce throughout the period.
South America Transportation Composites Market Key Players Insights:
The market is characterized by the existence of several well-known firms. These companies control a large portion of the market, have a wide product portfolio, and have a global presence. In addition, the market comprises small to mid-sized competitors that sell a limited variety of items, some of which are self-publishing organizations.
The market's major companies have a significant impact because most of them have extensive global networks through which they can reach their massive client bases. To drive revenue growth and strengthen their positions in the Europe market, key players in the market, particularly in this region, are focusing on strategic initiatives such as acquisitions, new collection launches, and partnerships.
The objective of the report is to present a comprehensive analysis of the South America Transportation Composites market to the stakeholders in the industry. The report provides trends that are most dominant in the South America Transportation Composites market and how these trends will influence new business investments and market development throughout the forecast period. The report also aids in the comprehension of the South America Transportation Composites Market dynamics and competitive structure of the market by analyzing market leaders, market followers, and regional players.
The qualitative and quantitative data provided in the South America Transportation Composites market report is to help understand which market segments, and regions are expected to grow at higher rates, factors affecting the market, and key opportunity areas, which will drive the industry and market growth through the forecast period. The report also includes the competitive landscape of key players in the industry along with their recent developments in the South America Transportation Composites market. The report studies factors such as company size, market share, market growth, revenue, production volume, and profits of the key players in the South America Transportation Composites market.
The report provides Porter's Five Force Model, which helps in designing the business strategies in the market. The report helps in identifying how many rivals exist, who they are, and how their product quality is in the South America Transportation Composites market. The report also analyses if the South America Transportation Composites market is easy for a new player to gain a foothold in the market, do they enter or exit the market regularly, if the market is dominated by a few players, etc.
The report also includes a PESTEL Analysis, which aids in the development of company strategies. Political variables help in figuring out how much a government can influence the South America Transportation Composites market. Economic variables aid in the analysis of economic performance drivers that have an impact on the South America Transportation Composites market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the South America Transportation Composites market is aided by legal factors.
South America Transportation Composites Market Scope:
South America Transportation Composites Market
By Manufacturing Process
Market Size in 2021:
The market size in 2027:
USD 6.88 Billion
South America Transportation Composites MARKET KEY PLAYERS:
- Clico Logo
- DeltaX la
- Roca Acero
- SGL Group
Frequently Asked Questions
The segments covered in the South America Transportation Composites Market report are based on Type, Manufacturing Process.
The market size of the South America Transportation Composites Market by 2027 is expected to reach USD 6.88 Billion.
The forecast period for the South America Transportation Composites Market is 2022-2027.
The market size of the South America Transportation Composites Market in 2021 was valued at USD 5.5 Billion.
- Scope of the Report
- Research Methodology
- Research Process
- South America Transportation Composites Market: Target Audience
- South America Transportation Composites Market: Primary Research (As per Client Requirement)
- South America Transportation Composites Market: Secondary Research
- Executive Summary
- Competitive Landscape
- Stellar Competition matrix
- South America Stellar Competition Matrix
- Key Players Benchmarking: - by Product, Pricing, Investments, Expansion Plans, Physical Presence, and Presence in the Market.
- Mergers and Acquisitions in Industry: - M&A by Region, Value, and Strategic Intent
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Challenges
- PESTLE Analysis
- PORTERS Five Force Analysis
- Value Chain Analysis
- Stellar Competition matrix
- South America Transportation Composites Market Segmentation
- South America Transportation Composites Market, by Fiber (2021-2027)
- South America Transportation Composites Market, By Manufacturing Process (2021-2027)
- Compression Molding Process
- Resin Transfer Molding process
- Injection Molding Process
- South America Transportation Composites Market, by Country (2021-2027)
- Rest of South America
- South America Transportation Composites Market, by Fiber (2021-2027)
- Company Profiles
- Key Players
- Company 1
- Company Overview
- Product Portfolio
- Financial Overview
- Business Strategy
- Key Developments
- Clico Logo
- Roca Acero
- SGL Group
- Company 1
- Key Players
- Key Findings