Composite materials have excellent properties such as high strength, high modulus, high stiffness, high wear resistance, low density, chemical resistance and low creep, which make them very suitable for automotive parts, aircraft structures and other structural parts used in transportation.
According to the growth rate of the global transportation market (US $33.2 billion) from December 2020 to December 2025, the growth rate of composite materials market is expected to be US $33.2 billion.
Resin transfer molding process has the largest market share in the world. Resin transfer molding (RTM) is a vacuum assisted resin transfer process, which has the advantages of increasing the ratio of fiber to resin, excellent strength and weight characteristics. It is mainly used for forming components with large surface area, complex shape and smooth finish. This process is used for the production of aircraft and automotive structures, such as powertrain components and exterior components.
In terms of specific applications, interior structural applications are expected to dominate the market. In the forecast period, internal structure application is expected to be the largest part of the transport composite market. The road industry is one of the main consumers of composite interior applications, which is mainly driven by the use of composite materials in automobiles. Due to its excellent strength and low weight, the demand for thermoplastic composites for aircraft interior components is growing, which is driving the market of interior applications. In addition, the railway sector is also one of the main contributors to the growth of demand for composite materials in the internal application field.
Carbon fiber is estimated to be the fastest growing reinforcing fiber in terms of specific types of reinforcing fiber. The growing use of carbon fiber composites is attributed to the fastest growth in the automotive sector. Carbon fiber composites are widely used in aerospace, national defense and automobile industries because of their superior properties to glass fiber composites. Carbon fiber is twice as strong as glass fiber and 30% lighter. In automotive applications, its application began in car racing, because it not only reduces the weight of the vehicle, but also ensures the safety of the driver with its high strength and high stiffness of the hard shell frame. Because it also has anti-collision performance, carbon fiber can be used in all structural parts of F1 cars at present.
As far as the mode of transportation is concerned, it is expected that road transportation will be the fastest growing type of composite materials. Due to the advantages of flexible design, corrosion resistance, flexibility, low maintenance cost and long service life, composites can be used in various automotive applications, including automobiles, military vehicles, buses, commercial vehicles and racing cars. Glass fiber composites are commonly used for interior and exterior components in automotive applications. The lightweight performance and high strength of the composite reduce the weight and fuel consumption of the vehicle, and enable OEMs to comply with strict environmental regulations.
In terms of matrix types, thermoplastic is expected to become the fastest growing resin field. Compared with thermosetting resin, the main advantage of thermoplastic resin as matrix material is that the composite can be remolded and the composite is easy to recycle. Different types of thermoplastic resins can be used as matrix materials in the molding of composites. Complex material shapes can be easily produced using thermoplastic composites. Because they can be stored at room temperature, they can also be used to make large structures.
