News & Insights | Textile Technology

Composite Repair Market worth $34.2 billion by 2028 – At a CAGR of 13.0%

Published: August 26, 2023

Author: TEXTILE VALUE CHAIN

The According to a market research report, the Composite Repair Market by Type (Structural, Semi-Structural, Cosmetic), Process (Hand Lay-Up, Vacuum Infusion, Autoclave), End-Use Industry (Aerospace & Defense, Wind Energy, Automotive & Transportation, Marine), and Region – Global Forecast to 2028″, is estimated at USD 18.6 billion in 2023 and is projected to reach USD 34.2 billion by 2028, at a CAGR of 13.0% from 2023 to 2028. During the forecast period, the global composite repair market is expected to grow in the coming years, driven by increasing demand from various industries such as aerospace & defense, wind energy, automotive & transportation and others. The market is also expected to benefit from technological advancements in composite repair technology, enabling to achieve higher finish quality.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=239819765

Browse

152 Market data Tables
54 Figures
191 Pages and in-depth TOC on “Composite Repair Market – Global Forecast to 2028”

This report also provides a comprehensive analysis of the companies listed below:

The composite repairs industry is highly fragmented. Major players in this market are. Lufthansa Technik AG (Germany), Air France KLM E&M (France), and HAECO (U.S.) are the key players in aerospace composite repairs. Similarly, for wind energy, UpWind Solution (U.S.), Total Wind Group A/S (Denmark), and Technical Wind Services (Scotland) are the key players. Citadel Technologies (U.S.), Milliken Infrastructure (U.S.), and T.D. Williamson (U.S.) is the key service provider for FRP pipeline repairs. West Systems (U.S.) and WR Composites (U.K.) provide repair works for composite boats. Fibrwraps (U.S.) and Concrete Repairs Ltd. (U.K.) provide repair services for the construction industry.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=239819765

Based on Type, the composite repairs market is segmented by type into structural, semi-structural, and cosmetic depending on the impact of damage. Among these three types of repairs, structural repair is majorly conducted on aircraft structural components; whereas, cosmetic repair is used majorly in wind turbine blades and automotive components. In wind blades, cosmetic repair is done to prevent the composite blades from erosion and corrosion. In the automotive industry, cosmetic repair is dominantly used as the technology is still not sufficient to conduct structural repair. In the coming years, the automotive industry is expected to adopt the technology and repair processes such as autoclave and vacuum infusion from aerospace & defense industry. By then it will be possible for the repair service providers to conduct structural repair on automobiles.

Based on Process, the composite repairs market is segmented by process into different categories, namely, hand lay-up, resin infusion, autoclave, and others including composite wrap, prepreg molding, and out-of-autoclave. These methods are used to repair composite parts in various end-use industries, including aerospace & defense, wind energy, automotive & transportation, marine, construction, pipe & tank, and others.

Based on end-use industries, Aerospace & defense, wind energy, automotive & transportation, marine, construction, pipe & tank, medical, and sporting goods are the key end-use industries for fiber-reinforced plastics or composites. In these end-use industries, conventional materials such as iron, steel, aluminum, and wood are dominantly used. The parts manufactured from composites are difficult to repair as compared to composites. Moreover, due to lack of knowledge, the operators in end-use industries prefer parts replacement. However, recent advancements in repair processes and the cost savings associated with them are the primary reasons for the growth of the composite repairs market across various industries.

Based on countries, The US led the composite repair market in 2022. The market in the US is driven by the presence of major end-use industries and strong industrialization in the country. The US is expected to remain the dominant market during the forecast period. The growing usage of composite repairs in wind energy, automotive & transportation, aerospace and defense, and other industries is responsible for the high market share of the US. The market in Germany is expected to register a CAGR of 13.3% between 2023 and 2028 to reach a market size of USD 2,152.8 million by 2028. The market in China is projected to witness a CAGR of 13.3% during the forecast period. The growth in the country is owed to projects that are expected to be completed by 2028.

Inquire Now: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=239819765