Brazilian Composites Market Report: Trends, Opportunities and Competitive Analysis to 2030

Brazilian Composites Market Trends and Forecast

• Lucintel forecasts that wind energy will remain the largest end use industry by value and volume over the forecast period due to the growth of wind energy installation in Brazil. Electrical and Electronics is expected to witness highest growth over the forecast period.
• Polyester composite is expected to remain the largest market by value, mainly driven by its low cost and various mechanical properties which include corrosion resistance and chemical resistance. 

Country wise Outlook for the Brazilian Composites Market

Emerging Trends in the Brazilian Composites Market

1. Innovation Trends Focused on Ultra-High Modulus Glass Fiber: Increase in the number of off-shore turbine installations, re-powering of old turbines and increasing wind market installations with high turbine capacity in locations that have high wind speed are the major factors behind the growing average size of wind turbines with consequent increase in blade sizes. This leads to the need for bigger and stronger blades and so there is a demand for tougher material. As such, Jushi has developed E9 ultra-high modulus glass fiber on 2020. The E9 ultra –high modulus exceeds 100 GPA and fully supports large scale development of lightweight wind turbine blades.
2. Advanced Manufacturing Techniques: The use of glass fiber based composites for marine are not new. It is used in hull, deck, and other applications. But now, MOI Composites; manufacturers of advanced technologies; has developed first 3D printed 6.5-meter-long and, 2.5-meter-wide power boat using continuous glass fiber-reinforced thermoset composites. This boat exhibits an entirely new unique shape that could not be achieved by traditional manufacturing techniques. The shipping sector has also embraced green energy.RS Electric Boats produced the first completely electric rigid inflatable boat (RIB) with significant amounts of fiberglass laminates as well as recycled carbon fibers infused into most primary structural parts.
3. Sustainability Focus: In recent years many researches have been done about things that affects human life. Much evolution is going on to produce environmentally friendly resins. Unsaturated polyester resin which is eco-friendly has several properties including its excellent strength, corrosion resistance and thermal resistance. It can also be recycled thus reducing waste. In addition, due to these features within eco-friendly UPR resins its market share is expanding. Demand in Electrical Increased and
4. Low Styrene Content Unsaturated Polyester Resin: Moisture barrier additive containing compositions are made by incorporating low styrene resins into a formulation of the resin. These ones are manufactured in such a way that once you let the mouldings to stand, the additive will form a film over the surface of the resin. In recent years, resin manufacturers have achieved steadily reducing styrene content in standard resins or gelcoats without affecting their handling and performance. LSC additives are effective for suppressing emissions during both dynamic and static process stages. A LSE/LSC resin can be obtained by adding vapour suppressants to an LSC resin thereby allowing further reductions in styrene emission. Moreover, low styrene content resins reduce carbon emissions thus it minimizes effects of poisonous gas exposure on workers.

Recent Developments by the Brazilian Composites Suppliers

• Technology Improvements: Suppliers are increasingly adopting advanced manufacturing techniques and automation to improve production efficiency and quality of products.
• Focus on Sustainability: There is a growing emphasis on sustainable practices, including use of recycled materials and eco-friendly processes to mitigate environmental impact.
• Market Diversification: Brazilian suppliers are diversifying their product offerings and venturing into non-traditional sectors apart from automotive and construction among others.
• International Collaboration: Technology transfer is facilitated by global partnerships with world firms which offer market expansion opportunities.
• Regulatory Compliance: Becoming competitive in the global markets will mean complying with international standards and regulations.

Strategic Growth Opportunities for Brazilian Composites Market

• Market Demand: Brazil's ongoing infrastructure projects, including stadiums, bridges, and residential buildings, drive demand for composites.
• Opportunity: Composites offer advantages like corrosion resistance, durability, and design flexibility, meeting the needs of modern construction practices and sustainable building standards.

• Industry Applications: Growing automotive production in Brazil increases demand for lightweight composites in vehicle components.
• Opportunity: Composite materials can replace traditional metals, reducing vehicle weight, enhancing fuel efficiency, and meeting stringent emissions regulations.

• Wind and Solar Applications: Brazil's renewable energy sector benefits from composites used in wind turbine blades and solar panel supports.
• Opportunity: Investments in wind farms and solar installations drive demand for composites that offer strength, durability, and resistance to environmental factors.

• Market Segment: Brazil's aerospace and defense industries utilize composites in aircraft structures, interiors, and military equipment.
• Opportunity: Advances in composite materials enhance aircraft performance, reduce maintenance costs, and improve operational efficiency.

• Industry Needs: Composites are used in Brazil's marine sector for boat hulls, decks, and offshore structures due to their corrosion resistance and lightweight properties.
• Opportunity: Growth in maritime transportation and offshore oil exploration drives demand for composites that withstand harsh marine environments.

• Market Segment: Composites are essential in Brazil for sports equipment such as surfboards, bicycles, and tennis rackets.
• Opportunity: Increasing participation in sports and outdoor activities fuels demand for high-performance composites that offer strength, flexibility, and lightweight advantages.

Brazilian Composites Market Drivers and Challenges

1. Increased Utilization in Industrial Applications: Use of composites in the automobile, air-travel, construction, and ocean industries is growing.
2. Price: Composites offer thinness, corrosion resistance and durability which save costs with time.
3. Environmental Regulations: Strict environmental regulations are driving the industries towards such sustainable materials as composites.
4. Infrastructure Development: Composite adoption for their attributes of endurance and performance has seen infrastructural projects including those related to transportation and energy sectors get into this line of thought.
5. Technological Advances: Innovations in composite materials as well as manufacturing processes boost product performance while also increasing application possibilities.

1. The High Cost of Raw Materials: Production costs can be affected by over reliance on imported raw materials and price fluctuations
2. Technological Obstacles: The lack of expertise concerning modern methods used to make complex composites may cause stagnation within this market
3. Market Fragmentation: Small- and medium-sized enterprises face scaling up challenges and difficulty accessing advanced technologies due to a fragmented market structure
4. Regulatory Hurdles: Complexity in rules regarding standards or certifications applicable to composites could increase compliance cost or delay approval procedures
5. Economic Uncertainty: Instability in Brazil’s economy plus rates of currency exchange may influence market stability as well as investment determinants

Brazilian Composites Suppliers and Their Market Shares

• Chongqing Polycomp International Corporation
• Owens Corning
• Jushi Group Co., Ltd
• Polynt
• INEOS Composites (KPS Capital)

Brazilian Composites Market by Segment

By End Use Industry [Value ($M) and Volume (M lbs) Analysis for 2018 – 2030]:

• Pipes and Tanks
• Transportation
• Wind Energy
• Aerospace and Defense
• Construction
• Marine
• Electrical and Electronics
• Others

By Manufacturing Process [Volume (M lbs) analysis for 2018 – 2030]:

• Hand Lay-Up and Spray- Up
• RTM
• Filament Winding
• Continuous Lamination
• BMC/SMC
• Infusion
• Pultrusion
• Others

By Fiber Type [Value ($M) and Volume (M lbs) Analysis for 2018 – 2030]:

• Glass Fiber Composites
• Carbon Fiber Composites

By Resin Type [Value ($M) and Volume (M lbs) Analysis for 2018 – 2030]:

• Polyester Composites
• Epoxy Composites
• Other Composites

Features of Brazilian Composite Market

• Market Size Estimates: Brazilian composite market size estimation in terms of value ($M) and volume (M lbs)
• Trend and Forecast Analysis: Market trends (2018-2023) and forecast (2024-2030) by various segments.
• Segmentation Analysis: Market size by end use industry, manufacturing process, resin type, and fiber type.
• Growth Opportunities: Analysis of growth opportunities in different end use industry, manufacturing process, resin type, fiber type, and country for the Brazilian composite market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape for the Brazilian composite market.
• Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

FAQ

This report answers following 10 key questions