Rail Composites Global Market – Overview
Rail composites are used to achieve optimal train performance through considerate flexibility in train design. The use of composite materials are increasing in the railway industry throughout the world as it has become very crucial to improve performance and meet the regulations levied by the railways. It is also used in engineering designs because of their satisfactory and improved performance in extreme conditions such as high temperature, moisture, pressure, corrosion, high stress, fire retarding properties and so on. Railway composites helps in decreasing energy consumption, diminishing of vibration to reduce noise levels and improve passenger comfort. The Global Rail Composites Market was valued at US$ 720.71 Mn in 2020 and is expected to reach US$ 853.77 Mn by 2030. However, increasing use of railway composites in passenger coaches for exceptional structural qualities is attributed to the growth of this market.
Key Players Operating in Global Rail Composites Market: Airex Composite Structures, Hexcel Corporation, Ipeco Holdings Ltd, Kemrock Industries And Exports Limited, Teijin Limited, Toray Industries, Inc., TPI Composites, AIM ALTITUDE, Cytec Solvay Group, Euro Composite Group, FDC Composites Inc., Gurit, Joptek Oy, KINECO, Premier Composite Technologies and Permali.
Focus of the report
- CAGR values in the market for the forecast period
- Key trends in the market place
- Major players and brands
- Historical and current market size and projection up to 2030.
- Detailed overview of parent market
- Changing market dynamics of the industry
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Rail Composites Market, by Fiber Type
The solution segment of rail composites market is bifurcated into carbon fiber composites and glass fiber composites, wherein the glass fiber composites segment is currently dominating the market. The principal advantages of glass fibers are the low cost and high strength. Glass fibers are economical, resistant to ageing, weathering and chemicals, and non-flammable. Glass fiber composite is the most consumed rail composite globally. Glass fiber composites find major applications in passenger coaches for excellent structural properties and improved aesthetics. Components of coaches are generally made of glass fiber reinforced with polyesters/epoxies, phenolic resins. Most of the glass fiber rail composites offer superior properties than the conventional materials and have flexible nature, making them moldable in any shape. The use of glass fiber composites in railways makes it lighter and renders greater resistance to heat, external impact and improves fuel efficiency. Thus, owing to these factors glass fiber composites are expected to propel the market growth in future.
Rail Composites Market, by Region
Europe currently holds the maximum market share in the global market owing to high investments by government in railway industry. Germany is currently dominating in Europe as it is the hub of Europe's logistics market. Germany is the world's second largest nation in exporting goods and third largest in importing goods, which makes it the leading country in rail composites during the forecast period. The major drivers for the growth of this market are increased demand for lightweight materials and development of high speed trains. Europe is expected to remain the largest market for composite consumption in the rail industry.
Why Buy this Report?
- Extensive analysis on latest trends and growth opportunities in different regions across the globe
- Comprehensive assessment on recent technological advancements and forecast of the upcoming period
- A comparative analysis of leading players and emerging players in the Rail Composites market
- Authentic information on new product launches, organic and inorganic strategies, and more
- Valuable insights on the impact of regulatory framework on the global Rail Composites market
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