LONDON--(BUSINESS WIRE)--The global composite resin market is expected to post a CAGR of nearly 7% during the period 2018-2022, according to the latest market research report by Technavio.
A key factor driving the growth of the market is the increasing demand for lightweight materials. Composite resin is an important component used in the automobile industry to reduce the weight of vehicles, integrate different parts, and work with high efficiency. The weight of the vehicle determines its efficiency and performance. The use of lightweight materials instead of heavy materials reduces the weight of the vehicle, thus improving the fuel efficiency of the vehicle. Composite resins are used in both exterior and interior parts of automobiles. Composite resins actively bind two fibers together, and they determine the stiffness and strength of the final product.
This market research report on the global composite resin market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the increasing applicability of composite bonding as one of the key emerging trends in the global composite resin market:
Global composite resin market: Increasing applicability of composite bonding
The dental and medical sector extensively employs the use of composite resins for composite bonding and composite filling applications. Composite bonding is a cosmetic solution used to improve color, shape, and overall appearance of an individual’s teeth. In this procedure, a composite resin is shaped and molded on gapped teeth, chipped teeth, and stained teeth. This form of resin bonding and filling is preferred by patients as it can be performed in just one seating and it is highly durable.
“Composite resin provides resistance to fracture in small-to-mid-sized fillings that need to withstand moderate pressure from the constant stress generated during the chewing process, owing to its high mechanical strength. Though the cost of composite resins is higher than amalgams, they offer a natural appearance and help in restoring the white color of the teeth. Therefore, composite filling applications that use composite resins are gaining popularity in comparison to metal filling, amalgam filling, and gold filling dental solutions, thus driving the growth of the market,” says a senior analyst at Technavio for research on specialty chemicals.
Global composite resin market: Segmentation analysis
This market research report segments the global composite resin market by end-user (construction, transportation, electronics, and pipes and tanks) and geographical regions (APAC, EMEA, and the Americas).
The construction segment held the largest market share in 2017, accounting for nearly 23% of the market. This end-user segment is expected to dominate the global market throughout the forecast period.
APAC led the market in 2017 with a market share of nearly 54%. The region is expected to dominate the market through 2022.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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