Rail Composites Market - Global Industry Analysis, Size, Share, Growth Opportunities, Future Trends, Covid-19 Impact, SWOT Analysis, Competition and Forecasts 2022 to 2030
The Global Rail Composites Market Is Valued At USD 1.469 Billion In 2021 And Is Expected To Register A CAGR Of Over 5% During The Forecast Period (2022-2027).
Rail Composites Market Overview:
Composite materials are materials that combine two or more constituent elements with different physical and chemical properties. Rail composite materials are used in train design and help to optimize train performance. Due to satisfactory, in railway engineering design The use of composite materials in is essential to maintain good performance even under extreme conditions of high temperature, humidity, pressure and high stress. Railway composites also have flame retardant properties. Railway composites provide considerable flexibility for train design Flexibility, which helps optimize train performance.Composite materials are increasingly used in railway industry worldwide where performance improvement is critical.Composite materials have been used in railways as they meet their stringent requirements .
Due to the satisfactory performance of composite materials under extreme conditions such as high temperature, humidity, pressure, corrosion, high stress, and flame retardancy, the use of composite materials in engineering design has become indispensable.
Railway composites reduce energy consumption, help dampen vibrations to reduce noise levels, and improve passenger comfort. Railway composites used in various railway applications mainly include metallic or non-metallic honeycomb and sandwich structures.
Rail Composites market size, estimates and forecasts are provided in terms of sales volume (K units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Rail Composites market in detail. Regional market sizes related to products by type, by application, and by player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and the Russian-Ukraine war.
Key Market Updates:
- In May 2021, Celanese announced plans to initiate a three-year program to expand its LFT (long fiber thermoplastic) production capacity in Nanjing, China. Completion is expected in the second half of 2023.
Major Market Segments Covered in Rail Composites Industry Research:
Market Key Players:
Able Manufacturing & Assembly, Sintex Wausaukee Composites, Joptek Composites, TPI Composites, Rochling Engineering Plastics, Exel Composites, Premier Composite Technologies, Miles Fiberglass & Composites, Stratiforme Industries, And Others.
- Polyester, Vinyl Ester, Phenolic, Epoxy, Others,
- Interior, Exterior
The Asia-Pacific region dominates the market
In Asia Pacific, growing populations and increasing urbanization in countries such as China, India, and Japan are driving the need for better connectivity and increasing numbers of trains.
The governments of these countries have been investing in the locomotive industry, further driving the demand for the market studied.
The Chinese government has been investing in railways recently. Some of the ongoing railway projects in the country include Lagos-Ibadan Railway (156km), Yinxi High Speed Railway (618km) and Shanghai-Hangzhou Railway (794km).
Also, Indian Railways has received an allocation of Rs 140 trillion in the Union Budget for 2022-23, which is 27.5 per cent higher than the estimated budget for this fiscal year.
In February 2022, Indian Railways announced that it will procure 90,000 wagons in the next three financial years, and the tender process will start in March. The estimated cost of the project is approximately INR 310 billion.
In India, several subway projects are underway. Some of these include Chennai Metro Phase 2, Delhi Metro Phase 4 and Kolkata East West Metro. The projects are expected to be operational in early 2025.
Japan and ASEAN countries have also been contributing to the growth of the market studied.
Therefore, based on the aforementioned aspects, the Asia Pacific region is expected to dominate the market.
- North America
- Rest of North America
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia-Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
Significant Market Dynamics:
Drivers and Restraints
The global railway composites market is largely driven by the initiatives of various governments to initiate numerous projects and provide industry-oriented railway composites. Additionally, increasing energy price pressures and environmental regulations have also increased the need for substantial improvements in the performance of materials used in engineering and manufacturing.
Railway composites have been identified as potential materials for the global transportation industry due to their dual properties of mechanical properties and railway aesthetic appearance. The demand and consumption of railway composite materials is expected to witness significant growth due to stringent quality requirements.
Rail Composites Market report scope:
CAGR of 5% from 2022 to 2030.
Polyester, Vinyl Ester, Phenolic, Epoxy, Others,
Able Manufacturing & Assembly, Sintex Wausaukee Composites, Joptek Composites, TPI Composites, Rochling Engineering Plastics, Exel Composites, Premier Composite Technologies, Miles Fiberglass & Composites, Stratiforme Industries
Regions and Countries Covered
2017 to 2022
2023 to 2030
Crucial Points from this Rail Composites Report
- Estimate Rail Composites market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at the country level - for product types, applications and by different industry verticals.
- Understand the supply chain in depth on the value growth at each step, in order to optimize value and bring effectiveness in your processes.
- Know the different dynamics affecting the market - challenges, key driving factors and opportunities.
- Get a quick viewpoint on the Rail Composites market entropy - M&A's, deals, partnerships, product launches of all key companies for the historical 5 years.
- Estimate the supply-demand gaps, import-export data and regulatory landscape for more than top 20 countries worldwide for the market.
- Get complete insights on your competitor's performance - market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
- Study the sales and distribution channels over key geographies to improve top-line revenues.
Frequently Asked Questions-
What is the CAGR of Rail Composites market?
The Rail Composites Market is growing at a CAGR of 5% During Forecast Period.
What are the key types of Rail Composites market?
Polyester, Vinyl Ester, Phenolic, Epoxy, Others,
What are the key applications of Rail Composites market?
Who are the key players in Rail Composites market?
Able Manufacturing & Assembly, Sintex Wausaukee Composites, Joptek Composites, TPI Composites, Rochling Engineering Plastics, Exel Composites, Premier Composite Technologies, Miles Fiberglass & Composites, Stratiforme Industries, And others.