The global ineos composites market is forecast to reach USD 1,124.1 Million by 2028, according to a new report by Reports and Data. ineos composites find its application in polyester resin systems and offer improved characteristics such as paste viscosity, viscosity thickening plateau, and phase separation.
The ineos composites market is driven by the increasing application of these additives in the automotive sector. The use of the market product in automobiles makes them lightweight yet strong, and thus more durable and efficient. Furthermore, the increasing use of the product in the building and construction industries are propelling market growth. This can be attributed to the properties of ineos composites such as electrical insulation, dimensional stability, and corrosion resistance.
The use of fiber-reinforced plastics incorporated with ineos composites offers design flexibility, cost reduction, weight reduction, and improved lead time. The widespread use of fiber-reinforced plastics in the military and aerospace industries are likely to fuel the demand for ineos composites during the assessment period.
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The basic objective of this report is to deliver details pertaining to the growth of this market, with respect to the rising demand from various sectors. The market report comprises an in-depth study of the current trends, growth opportunities, sectors likely to depict high growth prospects, industry drivers, and more, that would help shareholders undertake major decisions.
This report also focuses on the ineos composites Market size with respect to the volume and value – at the regional, company, and worldwide levels. Market strategies are undertaken, with regard to the current and future industry scenarios have also been enlisted in the study.
The chemicals and materials industry has witnessed significant revenue growth over the recent past owing to increasing demand for chemicals, raw materials, consumer products such as perfumes, soaps, and detergents, and plastics from various end-use industries. Chemicals and materials are widely used in various consumer goods and different sectors such as agriculture, construction, and petroleum refining, among others. Polymers occupy the largest revenue share of the global chemicals industry owing to increasing demand from the packaging industry, construction markers, and home furnishing, among others. The increasing availability of raw materials at affordable costs, lower labor, and energy costs, and rapid economic growth in developing regions is a key factor boosting revenue growth of the chemicals and materials industry and the trend is expected to continue going ahead.
The report further offers an in-depth analysis of key regions in the market along with the analysis of import/export, production and consumption ratio, supply and demand, cost, price, estimated revenue, and gross margins. It also studies the presence of key players in each region along with macro-and micro-economic growth factors, regulatory framework, and investment and funding opportunities in each major region.
Further key findings from the report suggest
- Polyvinyl Acetate-based (PVA) lead the market for low profile additive market, with 24.1% of the market share in 2020. Its advantageous properties, such as low shrinkage and improved surface finish, are anticipated to increase its application in various compounding techniques. Growing demand from the automotive industry, where high-quality surface finish is required, are expected to drive the market.
- Sheet Molding Compound/Bulk Molding Compound are a class of composite materials that finds its application in the automotive sector due to their low weight, good mechanical properties, and cost-effectiveness. These composite materials are blended with ineos composites to compensate for polymerization shrinkage.
- The automotive sector are currently facing a lot of changes with regard to its impact on the environment. The weight reduction of a vehicle by 100kg saves up to 12.5g of carbon dioxide emissions every kilometer. Thus, a reduction in a kilogram of the car can save up to 20kg of greenhouse gas emission in the lifetime of the car. ineos composites help in the production of light-weight cars. Automotive held a market share of 31.3% in the year 2020.
- North America is forecasted to grow with a CAGR of 11.5% during the forecast period. The U.S. accounts for approximately 80% of the North American market product in 2020. It finds its major application in the transportation industry. Military aircraft, commercial aircraft, business jets, helicopters, general aviation aircraft, and spacecraft of the aerospace industry in the U.S. also make substantial use of composites and ineos composites.
- In November 2020, Gazechim Composites and Polynt-Reichhold Group entered into an agreement to distribute unsaturated polyester products, gel coats, and bonding pastes. This development is expected to increase the market share of the Polynt-Reichhold Group in the European region and also increase the demand for ineos composites on a global platform.
Top Players in the Global ineos composites Market:
Lyondellbasell Industries, Aromax Technology, AOC Aliancys, Swancor Holding Company Limited, Evonik Industries, Wacker Chemie, Swancor Holding Company Limited, Polynt-Reichhold Group, Lucite International, and BASF, among others.
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ineos composites Market Segmentation:
Product Type Outlook (Volume: Kilo Tons; Revenue: USD Million; 2018-2028)
- Polyvinyl Acetate-based
- High-density Polyethylene (HDPE)
Application Outlook (Volume: Kilo Tons; Revenue: USD Million; 2018-2028)
- Sheet Molding Compound/Bulk Molding Compound
- Resin Transfer Molding
Global ineos composites Market Report: Regional Segmentation
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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Frequently Asked Questions Answered in the Report:
- What is the estimated revenue growth rate of the global ineos composites market over the forecast period?
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- Which are the leading manufacturers and suppliers in the global ineos composites market?
- Which regional market is expected to lead in terms of revenue share in the global ineos composites market over the forecast years?
- What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis of the market?
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