CHICAGO, March 29, 2024 /PRNewswire/ -- The
report "Rail Composites Market by Fiber
Type (Glass Fiber, Carbon Fiber), Resin Type (Polyester, Phenolic,
Epoxy, Vinyl Ester), Manufacturing Process (Lay-up, Injection
Molding, Compression Molding, RTM), Application, & Region -
Global Forecast to 2028", Rail Composites Market is
estimated at USD 1.7 billion in 2023
and is projected to reach USD 2.4
billion by 2028, at a CAGR of 7.2% from 2023 to 2028.
A composite is manufactured by physically combining two or more
materials (components) to produce a blend of structural properties
do not present in any individual component. Composite those are
used in rail interior, exterior, and other components are
considered as rail composite. The rail composites market is mainly
dominated by glass composites. The market of carbon composite is
significantly smaller than that of glass composite, which is the
main reason for its oligopolistic market structure.
Browse in-depth TOC on "Rail Composites Market".
239 – Tables
64 –
Figures
217 – Pages
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"The Phenolic resin segment accounted for the largest market
share in 2022, in terms of value."
Phenolic resin segment dominated the rail composites market in
2022, in terms of value. Phenolic resins help to reduce overall
weight which turns, allows for high speeds, lower wear, decreased
track load, and reduced maintenance cost of tracksides. Phenolic
resin composites are resistant to environmental degradation and
fatigue damage compared to other metals. Phenolic resin composites
are easily moldable and can be used in various rail
applications.
"The carbon fiber segment accounted for the second-largest
market share in 2022, in terms of value."
In terms of value, carbon fiber accounted for second-largest
share of the reinforcements used in rail composite consumption,
globally. Carbon fiber composites are high-cost materials used in
higher strength applications in the rail industry as they are
comparatively lightweight and strong. Hence, carbon fiber
composites can be used in the production of front cabin, front
nose, side panels, flywheel, beams, and other components.
"Lay-up manufacturing process segment accounted for the
largest market share in 2022, in terms of value."
In 2020, lay-up manufacturing process accounted for largest
market share, in terms of value. Lay-up process gets mostly used in
designing simple and lightly loaded rail structural panels. In this
process, manufacturers can control the orientation of fibers as per
the need to absorb the maximum possible stress. The lay-up process
is divided into hand, tape, and spray lay-up. Hand lay-up is the
most commonly used process for manufacturing rail composites.
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"Interior Components to remain the largest end-use
application in terms of value during the forecast period."
Interior composite components used in rail application include
components, such as seats, ducts, interior panels, luggage bins,
cushion fabrics, driver's console, and undercarriage water tanks,
among others. In the recent years, rail manufacturers have started
using composite materials for all types of rails, earlier which the
use was limited to high-speed rails and metro/subway trains. Use of
composites in carriages also can facilitate designer's and
engineer's creativity and allow more in-cabin space for
commuters.
"North America accounted for
the third-largest share in 2022, in terms of value."
In 2022, North America region
accounted for third-largest market share in terms of value and
volume. The growth in the rail composites market in this region is
driven mainly by its use in passenger rail, heavy urban rail, and
light rail. Unlike Europe and
Asia Pacific, the development of
high-speed rail in North America
has been slow and reluctant. This is one of the major reasons for
having less demand for rail composites in North America than Asia-Pacific and Europe. In the upcoming years, the market in
North America is expected to grow
with moderate CAGR.
The key players profiled in the report include Gurit
Holdings AG (Switzerland), Hexcel
Corporation (US), 3A Composites (Switzerland), Toray Industries, Inc.
(Japan), Solvay (Belgium), Teijin Limited (Japan), Premier Composite Technologies (UAE),
Dartford Composites Ltd. (UK), Exel Composites (Finland), Avient Corporation (US), Kineco
Limited (India), BASF SE
(Germany), AVIC Cabin Systems
(UK), BFG International (Bahrain),
and Reliance Industries Ltd. (India)
Browse Adjacent Market: Fibers & Composites
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