The global composites tubes market is anticipated to expand rapidly during the period, due to the rising demand for these tubes in lightweight and corrosion resistance structures in industrial, robotics, and automation industries
Composites tubes are used in various applications, owing to their excellent physical properties, which include high strength & stiffness with low overall weight, excellent fatigue resistance, and dimensional stability
Composite tubes are increasingly replacing traditional materials such as aluminum, steel, and, titanium due to their long-life, corrosion & weather resistance, strength & stiffness, insulation properties (of fiberglass), and warm & smooth surface finish
Key Drivers of Global Composite Tubes Market
The composite tubes market is largely driven by glass fiber composite tubes, which are made of fine fibers of glass. Glass fiber composite tubes are strong and lightweight. They possess lower stiffness than carbon fiber composite tubes. Weight and bulk strength of glass fiber composite tubes are favorable to metals. As a result, these tubes are widely used in various industries such as electrical & electronics, robotics & automation, sports & leisure, and transportation.
Composites tubes are widely used in the transportation sector, owing to their high strength-to-weight ratio and light weight. Enactment of environmental regulations regarding emission standards, specifically in North America, Europe, and China, is the major factor for the introduction of more lightweight and fuel-efficient composites in the transportation sector. This is estimated to drive the global composite tubes market during the forecast period.
Glass Fiber Tubes Filler Type Segment to Offer Lucrative Opportunities
In terms of application, the glass fiber tubes filler type segment accounted for major share of the global composite tubes market in 2018. Demand for glass fiber tubes is high, as they are low cost and have superior physical & mechanical properties such as strength, durability, flexibility, stability, and lightweight. Glass fiber composite tubes are used commonly in wind energy, electrical & electronics, and construction sectors.
Carbon fiber tubes is anticipated to be a rapidly growing segment of the market during the forecast period. Carbon fiber tubes are made up of carbon atoms that are bounded together in crystals aligned parallel to the fiber. Carbon fiber tubes are low in weight and possess high thermal expansion, high stiffness, temperature tolerance, and high chemical resistance. Thus, they are increasingly employed in industrial and other applications.
Asia Pacific to Hold Major Share of Global Composite Tubes Market
Asia Pacific constituted major share of the global composite tubes market in 2018. The market in the region is projected to remain highly lucrative during the forecast period, due to rapid industrialization and rise in demand for composite tubes in the transportation sector in the region.
Demand for composite tubes in North America is majorly driven by the growth of aerospace & defense, electrical & electronics, and automotive industries. The U.S. is a key manufacturer of commercial aircraft in North America.
The composite tubes market in Europe is projected to expand at a moderate pace during the forecast period. Demand for composite tubes in the region is likely to rise in the next few years, due to the increase in the usage of tubes in electrical & electronics and transportation sectors in the region.
Demand for composite tubes in Middle East & Africa and Latin America is estimated to rise significantly in the near future. In terms of demand, these regions accounted for low share of the global composite tubes market in 2018. However, these regions are likely to create lucrative opportunities for the composite tubes market during the forecast period.
Key Players in Global Market
Key players operating in the global composites tubes market include:
