DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Composite Repairs Market by Type (Structural, Semi-Structural, Cosmetic), Process (Hand Lay-Up, Vacuum Infusion, Autoclave), End-Use Industry (Aerospace & Defense, Wind Energy, Automotive & Transportation), and Region - Global Forecast to 2026" report to their offering.
The composite repairs market is projected to reach USD 21.97 billion by 2026, at a CAGR of 8.0% between 2016 and 2026.
Increasing composite contents in new generation commercial aircraft such as Boeing 787 Dreamliner and Airbus A350 and significant addition to wind energy capacity in the past 10-15 years in countries such as China, the U.S., India, Germany, and Spain are expected to drive the composite repairs market in the future. Composite components are costlier to replace. Thus, repair is the most viable and cost-effective option.
Composite repairs are carried out on damaged parts of aircraft, wind blades, automotive panels, hulls & decks of boats, panels used in buildings, bridges, and leakage in pipe & tanks. Based on end-use industry, the aerospace & defense segment accounted for the largest share of the composite repairs market in 2015 and is expected to lead during the forecast period.
Among the three key repair processes, the hand lay-up process is majorly used during composite repairs in industries such as wind energy, construction, marine, transportation, and pipe & tank, as it is cost-effective. Based on process, the autoclave segment is projected to grow at the highest CAGR between 2016 and 2026 with increasing application in commercial aircraft and passenger cars due to high performance and surface finish requirements. Other processes include composite wrap, prepreg molding, and out-of-autoclave.
Increasing use of composite repairs in the aerospace & defense and wind energy industries has been driving the composite repairs market. Asia-Pacific is projected to grow at the highest CAGR between 2016 and 2026. Growing maintenance, repair, and overhaul (MRO) as well as increasing composite repair activity in China, Japan, India, and South East Asian countries are expected to drive the composite repairs market for aerospace & defense in the region.
Existing wind energy capacity in China, India, Japan, and Australia is expected to drive the composite repairs market for wind energy during the short-term forecast period. Upcoming wind turbine installations in India and South East Asian countries is expected to fuel the composite repairs market during the long-term forecast period.
- Rising Investment in Rehabilitation of Old Structures
- Cost Saving Associated With Composite Structure Repair
- Low Penetration of Composites in End-Use Industries in the Least Developed Countries
- Introduction of Self-Healing Composites
- Increasing Use of Composites in End-Use Industries
- New and Advanced Technologies Introduced in the Market
- Automation of Composite Repair
- Skilled Labor Shortage
- Lack of Standardization on Material and Testing
- Financial Loss During Composite Repair
- Air France-KLM E&M.
- Armor Plate
- Citadel Technologies.
- Composite Technologies Ltd
- Concrete Repairs Ltd.
- Crawford Composites LLC.
- Delft Infra Composites
- FGS Composites
- Furmanite Corporation
- Hamble Yacht Services
- Lufthanasa Technik, AG.
- Milliken Infrastructure.
- T.D. Williamson.
- Technical Wind Services
- Total Wind Group A/S.
- Upwind Solutions
- WR Composite
- Walker Technical Resources Ltd.
- West System
For more information about this report visit http://www.researchandmarkets.com/research/nhztwg/composite_repairs