Railway Composites | Contrive Datum Insights

Globel Railway Composites market was valued at USD 829.1 million in 2022 and is projected to reach USD 1099.7 million by 2030, at a CAGR of 4.8% from 2022 to 2030.

Railway Composites Market Overview:

Railroad composites have shown steady growth in the global market. The use of composites in railways is widely accepted in major economies because they make railways lighter and provide special properties to improve their overall performance. Additionally, the rail composites market has steadily recovered after the drop in demand caused by COVID-19 and is expected to grow further over the forecast period.

The major factors driving the growth of the market studied in the medium term are the increasing number of railway projects in the Asia-Pacific region, especially in China, India, and Singapore, and the global demand for high-speed rail.

Lack of rail infrastructure in countries such as Vietnam, Indonesia, and Thailand and balance issues for the FST performance of rail composites are hampering the growth of the research market.

However, growing demand for lightweight rail rolling is expected to create opportunities for the market studied during the forecast period.

Railway composites are composite materials used in the railway industry. They are made of a combination of two or more materials, such as glass fiber, carbon fiber, and resin.

Key Market Updates:

• In May 2021, Celanese announced a three-year plan to expand its long-fiber thermoplastic (LFT) production capacity in Nanjing, China. It is scheduled to be completed in the second half of 2023.
• In July 2019 - Gurit (SIX Swiss Exchange: GUR) reported on the successful completion of the acquisition of the PET manufacturing plant from Valplastic S.r.l. in Italy. In this acquisition, Gurit will continue the supply of quality cost-effective equipment and extend its value chain, which will continue to stimulate the rail composites market.
• In January 2019, Hexcel Corporation finally acquired ARC Technologies LLC, a leader in custom RF/EMI and composite receiver applications. The acquisition strengthens Hexcel's advanced materials portfolio in composite and thermoplastic processing, which boosts the market.

Major Market Segments Covered in Railway Composites Market Industry Research:

• Cytec Industries Inc.
• Dartford Composites Ltd.
• FDC Composites Inc.
• Gurit Holding AG
• Hexel Corporation
• Kemrock Industries and Exports Limited
• Koninklijke Ten Cate nv
• Premier Composite Technologies
• Toray Industries Inc.
• TPI Composites Inc.
• Others.

Key Vendors:

Cytec Industries Inc. is a global specialty chemicals and materials technology company. It is a leading supplier of high-performance materials and solutions for the aerospace, defense, transportation, and industrial markets. Cytec was acquired by Solvay in 2015.

Dartford Composites Ltd. is a UK-based company that specializes in the development and manufacture of composite materials for the railway industry. Dartford Composites' products are used in a variety of applications, including freight cars, passenger cars, and locomotives.

FDC Composites Inc. is a US-based company that specializes in the development and manufacture of composite materials for the aerospace, defense, and transportation industries. FDC Composites' products are used in a variety of applications, including aircraft structures, missile components, and boat hulls.

Gurit Holding AG is a Swiss-based company that specializes in the development and manufacture of composite materials for the construction, energy, and transportation industries. Gurit's products are used in a variety of applications, including bridges, wind turbines, and railway cars.

Hexel Corporation is a US-based company that specializes in the development and manufacture of adhesives, sealants, and coatings for a variety of industries. Hexel's products are used in a variety of applications, including aerospace, defense, and transportation.

By Type:

• Fibre Reinforced Plastics
• Jute-Coir Composites
• Thermoset Composites
• Other

Fibre Reinforced Plastics (FRP) are composite materials made of a matrix of resin reinforced with fibers. The fibers can be made of glass, carbon, aramid, or other materials. FRPs are used in a variety of applications, including automotive, aerospace, and construction.
Jute-Coir Composites are composite materials made of jute and coir fibers reinforced with a polymer matrix. Jute and coir are natural fibers that are strong, lightweight, and sustainable. Jute-coir composites are used in a variety of applications, including automotive, furniture, and construction.
Thermoset Composites are composite materials that cure or harden when heated. The curing process is irreversible, so thermoset composites cannot be melted or reshaped. Thermoset composites are used in a variety of applications, including aerospace, automotive, and marine.
Other composites include thermoplastic composites, hybrid composites, and nanocomposites. Thermoplastic composites are made of a matrix of thermoplastic resin reinforced with fibers. Thermoplastic composites can be melted and reshaped, which makes them more versatile than thermoset composites. Hybrid composites are made of two or more different types of fibers. 

By Resin Type:

• Polyester
• Vinyl Ester
• Phenolic
• Epoxy
• Others

By Application:

• Exterior
• Interior
• Others

Based on Region:

Asia-Pacific is the largest market for railway composites, accounting for over 40% of the global market in 2022. The growth of the market in Asia-Pacific is being driven by the increasing demand for lightweight and durable materials in the railway industry. The region is also home to some of the largest railway networks in the world, such as China and India.
North America is the second-largest market for railway composites, accounting for over 25% of the global market in 2022. The growth of the market in North America is being driven by the increasing demand for high-speed trains and the need to improve the safety and reliability of railway infrastructure.
Europe is the third-largest market for railway composites, accounting for over 20% of the global market in 2022. The growth of the market in Europe is being driven by the increasing demand for sustainable and environmentally friendly materials in the railway industry.
Latin America and Middle East & Africa are the smallest markets for railway composites, but they are expected to grow at a faster rate than the other regions in the coming years. The growth of the market in these regions is being driven by the increasing investment in railway infrastructure and the need to improve the safety and reliability of railway systems.

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
  • Denmark
  • Finland
  • Iceland
  • Sweden
  • Norway
  • Belgium
  • The Netherlands
  • Luxembourg
• Germany
• France
• Italy
• Spain
• UK
• Nordic Countries
• Benelux Union
• Rest of Europe
• Asia-Pacific
  • Indonesia
  • Thailand
  • Malaysia
  • Singapore
  • Rest of Southeast Asia
• Japan
• China
• India
• Australia
• South Korea
• Southeast Asia
• Rest of Asia-Pacific
• The Middle East & Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of the Middle East & Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America

Significant Market Dynamics:

Dynamics

The railway composites market is driven by the following dynamics:

• Increasing demand for lightweight and durable materials: Composites are lightweight and durable materials, which makes them ideal for use in the railway industry. They can help to reduce the weight of railway vehicles, which can improve fuel efficiency and reduce emissions.
• Growing demand for high-speed trains: The demand for high-speed trains is growing, and composites are well-suited for use in these trains. They can help to improve the performance and safety of high-speed trains.
• Increasing focus on sustainability: The railway industry is increasingly focused on sustainability, and composites are a sustainable material. They can help to reduce the environmental impact of the railway industry.

Restraints

The railway composites market is restrained by the following factors:

• High cost of composites: Composites are more expensive than traditional materials, such as steel and aluminum. This can be a barrier to adoption in some cases.
• Lack of skilled labor: There is a lack of skilled labor in the railway composites industry. This can make it difficult to manufacture and install composite components.
• Regulatory challenges: There are some regulatory challenges associated with the use of composites in the railway industry. These challenges can vary from country to country.

Drivers

The railway composites market is expected to be driven by the following factors:

• Increasing investment in railway infrastructure: There is increasing investment in railway infrastructure around the world. This investment is likely to lead to an increase in the demand for composites in the railway industry.
• Growing demand for safety and security: There is growing demand for safety and security in the railway industry. Composites can help to improve the safety and security of railway systems.
• Development of new composite materials: There is ongoing development of new composite materials. These new materials offer improved properties, such as strength, stiffness, and durability. This is likely to drive the demand for composites in the railway industry.

Trends

The railway composites market is expected to follow the following trends:

• Increased use of carbon fiber composites: Carbon fiber composites are becoming increasingly popular in the railway industry. They offer superior strength and stiffness to other composite materials.
• Growing use of composites in high-speed trains: Composites are well-suited for use in high-speed trains. They can help to improve the performance and safety of these trains.
• Development of new composite applications: There is ongoing development of new composite applications in the railway industry. These new applications are likely to drive the demand for composites in the future.

Challenges

The railway composites market is expected to face the following challenges:

• High cost of composites: The high cost of composites is a challenge that the market is facing. However, the development of new composite materials and manufacturing processes is expected to help to reduce the cost of composites in the future.
• Lack of skilled labor: The lack of skilled labor is another challenge that the market is facing. However, there are initiatives underway to address this challenge, such as the development of training programs and the establishment of certification programs.
• Regulatory challenges: The regulatory challenges associated with the use of composites in the railway industry are expected to remain a challenge in the future. However, the market is expected to grow despite these challenges.

Opportunity

The railway composites market is expected to offer significant opportunities for growth in the future. Some of the key opportunities for the market include:

• Growing demand for high-speed trains: The growing demand for high-speed trains is a key opportunity for the market. Composites are well-suited for use in high-speed trains, and the demand for these trains is expected to grow in the future.
• Development of new composite applications: The development of new composite applications is another key opportunity for the market. As new applications for composites are developed, the demand for composites in the railway industry is expected to grow.
• Increased investment in railway infrastructure: The increased investment in railway infrastructure is another key opportunity for the market. As more money is invested in railway infrastructure, the demand for composites in the railway industry is expected to grow.

Scope of Reports:

Conclusion:

Crucial Points from this Railway Composites Market Report

• Estimate Railway Composites Market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at 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 Railway 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 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.