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Which segment will achieve the highest growth in the global Textile Composites market?

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Textile Composites Market Overview

Textile Composites Market size is forecast to reach $8.1 billion by 2026, after growing at a CAGR of 7.5% during 2021-2026. Textile composites are widely favored in aerospace and various other end-use industries, due to multiple factors such as cost reduction, improved component efficiency and reduced component weight. Furthermore, with the rising demand for printed circuit boards in electrical & electronics industry, the demand for textile composites is also anticipated to create new opportunities for the growth of the global textile composites industry in the forecast era.

Impact of Covid-19

COVID-19 has adversely affected the market for composites across various end-use industries such as aerospace & defense, automotive & transport, wind, building & infrastructure, and pipes & tanks. The supply chain instability resulting in delays or non-arrival of raw materials, disrupted financial flows, and the absenteeism among manufacturing line staff have forced aircraft and automotive manufacturers to operate at zero or partial capacity.

Textile Composites Market Report Coverage

The: “Textile Composites Market Report – Forecast (2021-2026)”, by IndustryARC, covers an in-depth analysis of the following segments of the textile composites market.

By Fiber Type: Carbon Fiber,33 Glass Fiber, Aramid Fiber and Others

By Type: Woven and Non-woven

By Application: Electrical and Electronics, Aerospace, Construction, Sport Goods, Wind Energy, Medicals, Marine, and Others

By Geography: North America, South America, Europe, Asia Pacific, and Middle East & Africa

Key Takeaways

  • In 2020, the Asia Pacific dominates the textile composites market due to the increase in investments and manufacturing technologies in the aerospace industry.
  • The value of fiber composites for textiles has already been seen to be lightweight materials with solid, stiff and cost-effective properties. The attempts to develop low-cost fiber composites have led to a variety of new processing processes now being used in the textile fiber composites industry.
  • Due to the unique advantages of textile composites over conventional materials, such as metals and ceramics, textile-reinforced composites are increasingly used in various industries such as aerospace, building, automotive, medicine, and sports.
  • The high production volume of textile composite production method attracts more than traditional unidirectional laminate composites. Also, the yarn connections that enhance structural stability and damage tolerance also make the textile composites appealing.

Textile Composites Market Segment Analysis - By Fiber Type

Carbon fiber segment held the largest share of more than 35% in the textile composites market in 2020. Carbon fiber is an extremely lightweight fiber that is made from the carbon product. Carbon fibers have been found to be commonly used in commercial and civilian aircraft, recreational, manufacturing and transport industries. Carbon fiber is a rare combination of strength and light weight; these properties make it ideal for use in applications where the basic requirements are power, light weight and good shelf life. They can also be used when the high temperature, chemical inertia and high damping are significant. Carbon fiber reinforced plastic can also contribute to the construction of longer bridges, higher buildings or wider stretches with self-supporting roofs. Thus, increasing demand of carbon fibre will further drive the market for textile composites in the forecast period.

Textile Composites Market Segment Analysis - By Type

Non-woven segment held the largest share of more than 45% in the textile composites market in 2020. For a long time, nonwoven fabrics were developed by mechanical, physical, chemical, heat or solvent treatment by binding cut fibers. Nonwoven structure has special properties compared to other textile structures; high fiber direction strength and stability and vice versa perpendicular to the fabric. Nonwovens are also used in medical and industrial applications including surgical masks, caps, filters for fuel, etc. In composite industries, the solid strength and high stiffness of nonwovens in the fibre path could be used effectively. Nonwovens are good substitutes, because the cost of production is low and the thickness can be easily varied. One of the most critical factors for good performance is the interface within the composites.

Textile Composites Market Segment Analysis - By Application

Aerospace sector held the largest share of more than 30% in the textile composites market in 2020 and is projected to grow at a CAGR of 8.4% during the forecast period 2021-2026. For many functional applications, textile composite is the most important and vast sector for the diverse product growth. One such class of materials is textile composite materials which play an important role in aerospace components. Reduced weight and improved fuel efficiency have always been the key drivers in the aerospace industry of using glass textile composites and carbon textile composite in prepreg form. Despite their exceptional strength and stiffness-to-density ratios and superior physical properties, textile composites are especially attractive for aviation and aerospace applications. Textiles used in aerospace are commonly divided into aircraft textiles and space textiles, depending on the applications. Therefore, with the growing aerospace industry the demand for textile composites market is expected to grow in the forecast period.

Textile Composites Market Segment Analysis - By Geography

Asia-Pacific held the largest share with 45% in the textile composites market in 2020. Asia-Pacific is seeing a major increase in demand from the aerospace and electrical & electronics industries for textile composites. Currently China has the largest spending on defense after the United States. Also, countries such as India and Japan have seen steady growth in defense spending in recent years. Hence, the growth is further boosting the demand for textile composites in asia-pacific region. According to India Brand Equity Foundation, India has set to become 3rd largest aviation market by 2020. By 2020, passenger traffic at Indian airports is expected to increase to 421 million from 223.61 million in 2016.Owing to the rising aerospace industry the demand for textile composites market is also anticipated to boost in the forecast period.