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Composites Tube Market Trends and Forecast

The future of the global composites product such as glass fiber tubes and carbon fiber tubes, in the tube market looks promising with opportunities in the transportation, electrical, sports & leisure, telecommunication, industrial, and robotics & automation end use industry market. The global composites tube market is expected to grow with a CAGR of 5% 2023 to 2030. The major drivers for this market is lower lifecycle cost compared to competing materials, such as steel, wood, and concrete and increasing demand for lightweight composite structures.


Composites Tube Market

On which the composite tube market is dependent, exist staple raw materials as fibers like glass, carbon, or aramid for strength; resins such as epoxy or polyester to bind and coat them; additives like fillers and flame retardants for specific qualities; core materials like foam or balsa to reinforce it; processing aids like release agents for smooth manufacturing. These are crucial materials in creating lightweight, durable tubes used extensively in industries such as aerospace and automotive that has followed advanced mobility solutions aimed at enhancing performance and efficiency. Several factors make the price of composite tubes in the market competitive vis-à-vis traditional materials such as metals. Composite tubes may be more expensive initially but they have some advantages that include low maintenance cost, corrosion resistance and less weight making them cheaper to run over their entire lifespan.
  • Lucintel forecasts that sports and leisure will remain the largest end use industry segment over the forecast period due to its excellent physical properties, such as high strength & stiffness with low overall weight, excellent fatigue resistance, and dimensional stability.
  • Glass fiber tube will remain the largest segment over the forecast period due to its low weight and excellent strength to weight ratio.
  • APAC & ROW is expected to remain the largest region over the forecast period due to the rapid industrialization, and urbanization.

Country wise Outlook for the Composites Tube Market

The composites tube market is witnessing substantial growth globally, driven by increased demand from various industries such as transportation, electrical, telecommunication, and sports and leisure. Major players in the market are expanding their operations and forming strategic partnerships to strengthen their positions. Below image highlights recent developments by major composites tube producers in key regions: the USA, Germany, China, and India.

Composites Tube Market by Country

Emerging Trends in the Composites Tube Market

Emerging trends in the composites tube Market shaping its future applications and market dynamics:
  1. Nano-enhanced Composites: Addition of nanomaterial to reinforce mechanical properties like strength, stiffness and fatigue resistance of composite tubes.
  2. Automated Manufacturing Processes: Incorporation of automated lay-up and winding techniques for improved tube production efficiency and consistency.
  3. Recycled and Bio-based Materials: A growing focus on sustainability through the use of recycled fibers and bio based resins in the making of composite tubes that reduces environmental impact.
  4. Customization and Design Flexibility: Use of design software and digital tools to develop customized tube geometries with optimized material usage according to various industry requirements.
  5. Advanced Resin Systems: The introduction of high-performance resin systems that provide durability, corrosion resistance, tailor able properties for specific applications.

Composites Tube Market Emerging Trend

A total of 107 figures / charts and 68 tables are provided in this 205-page report to help in your business decisions. A sample figure with insights is shown below.
Composites Tube Market by Segments

Recent Developments by the Composites Tube Market

Recent developments in composites tube market by various companies highlight ongoing innovations and advancements across different sectors:
  •  Automated Manufacturing: The efficiency and consistency of production will rise with the rising use of automated manufacturing techniques such automated tape laying and filament winding.
  • Lightweighting Initiatives: These days, lighter composite tubes are the emphasis in order to satisfy fuel economy criteria in the automotive, marine, and aerospace industries.
  • Advancements in Materials: A number of high-performance resin systems and fiber reinforcements, such as carbon fibers and hybrid combinations, have been developed to improve overall performance and strength-to-weight ratios.
  • Application Expansion: Innovations in technology and legal frameworks encourage diversifying into new markets, such as renewable energy for wind turbine blades, sporting products, and medical equipment.
  • Sustainability Initiatives:  Recycled materials and bio-based resins are being used in composite tube production methods to enhance sustainability goals and decrease environmental impact.

Strategic Growth Opportunities for Global Composites Tube Market

The composites tube market is very dynamic due to its unique properties of being lightweight, strong and thermally stable. Some key strategic growth opportunities for this market include:
Automotive Light Weighting Initiatives
  • Market Demand: Increasing focus on fuel efficiency and emissions reduction.
  • Opportunity: Composite tubes can help save weight, thus improving electric vehicle (EV) performance and electric range (EV).
Renewable Energy Infrastructure:
  • Sector Utilization: Composite tubes for wind turbine blades and hydroelectric systems.
  • Opportunity: The increasing number of renewable energy projects is boosting the demand for corrosion resistant materials with a long lifespan that are easy to maintain.
Industrial Applications:
  • Market Segment: Composite tubes for chemical processing, oil and gas pipelines, and infrastructure.
  • Opportunity: It has durability properties since it is not affected by heat, pressure or corrosions thus lowering maintenance costs.
Aerospace and Defense Applications:
  • Critical Requirements: Composite tubes in aircraft structures and missile systems.
  • Opportunity: These composites have high strength coupled with low weight which makes them ideal aerospace advancements as well as defense needs.
Medical and Healthcare Equipment:
  • Industry Trends: Composite tubes for medical devices and imaging systems.
  • Opportunity: They are light in weight as well as biocompatible also they can be easily sterilized thus becoming suitable for use in health care.
Sports and Leisure Equipment:
  • Product Diversity: Composite tubes in bicycles, fishing rods, and recreational gear.
  • Opportunity: Better strength to weigh ratio will enhance durability while flexibility will enhance performance.

Composites Tube Market Drivers and Challenges

Increasing requirement for lightweight, corrosion-resistant substitutes to conventional materials in different industries has driven the composite tube market. Composite tubes as a driver offer better strength-to-weight ratios, thermal stability and chemical resistance making them suitable for use in aerospace, automotive and renewable energy industries among others. Nevertheless, some challenges like high initial costs of composites, complicated manufacturing methods and stringent regulations on safety and performance exist. These hurdles can be tackled through innovation in materials, efficient production processes and partnerships which are necessary to keep up with the changing market trends as well as to promote composite tubes penetration worldwide.
The key drivers for the composites tube market include:
  1. Weight: Advanced composites offer significant weight savings over conventional materials, making them an attractive choice for industries such as aerospace, automotive and sporting goods.
  2. Strength And Durability: Composite tubes have a high strength-to-weight ratio and are corrosion resistant and fatigue resistant which improve their performance and life in various applications.
  3. Design flexibility: Composites allow for complex shapes and customization to suit specific needs in areas such as construction, marine and renewable energy.
  4. Environmental Regulations: The increasing imposition of lightweight recyclable materials-based policies is driving demand for composite tubes in eco-friendly industries.
  5. Cost Effectiveness: Although they may be initially expensive, composite tubes can result in long-term cost savings through reduced maintenance and improved efficiency.
 The challenges in the composites tube Market include:
  1. Manufacturing Complexity: Producing composite tubes requires special equipment and skilled labor, causing higher production costs.
  2. Material Selection & Compatibility: Ensuring compatibility of different bonding agents with the composites can be difficult thus affecting overall tube performance.
  3. Quality Control: Maintaining uniform quality throughout the production run that meets strict industry standards creates problems.
  4. Market Acceptance: Limited awareness and reliance on conventional metal tubes within some sectors limit general adoption of composite alternatives.
  5. Life Cycle Considerations: Disposal at end-of-life phase as well recycling of composites present environmental challenges which require sustainable solutions.
Challenges and drivers in the composite tube market make innovation in composite materials and manufacturing processes paramount. Material science advancements, affordable production techniques, and sustainable programs can boost growth of this market. Besides, creating awareness on the long-term benefits of using composites will encourage industries to invest more in them thereby promoting their acceptance across different sectors globally.

Composites Tube Suppliers and Their Market Shares

In this globally competitive market, several key players such as Exel Composites, Accurate Plastics, Strongwell Corporation, FiberTech Composite, and Fibergate Composite Structure, etc. dominates the market and contributes to industry’s growth and innovation. These players capture maximum market share. To know the current market share of each of major players, contact us. If you wish to deep dive in competitive positioning of these players then you can look into our other syndicated market report on “Global Composites Tube Market Leadership Report".
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies composites tube companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the composites tube companies profiled in this report include.
These companies have established themselves as leaders in the global composites tube market, with extensive product portfolios, global presence, and strong research and development capabilities. They continually strive to enhance their market positions through strategic partnerships, mergers and acquisitions, and product innovations. 
The market share dynamics within the composites tube market are evolving, with the entry of new players and the emergence of innovative composites tube market technologies. Additionally, collaborations between material suppliers, manufacturers, and end-users are fostering technological advancements and expanding market opportunities.

Composites Tube Market by Segment

The composites tube market is experiencing growth across several key segments. In aerospace, demand is driven by lightweight materials for aircraft structures. Automotive applications are expanding due to the need for light weighting and improved fuel efficiency. Renewable energy sectors utilize composite tubes in wind turbine blades and solar structures for their strength and corrosion resistance. Sporting goods, including bicycles and fishing rods, are increasingly adopting composites for high-performance benefits. Industrial applications such as oil & gas and infrastructure sectors benefit from composite tubes' durability and corrosion resistance. These segments collectively drive the market forward, reflecting diverse applications and expanding technological advancements. The study includes trends and forecast for the global composites tubes market by end use industry, fiber type, manufacturing process, and region as follows:

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

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

By Manufacturing Process [Value ($M) and Volume (Million lbs) Analysis for 2018 – 2030]:

By Region [Value ($M) shipment analysis for 2018 – 2030]:

  • North America
  • Europe
  • Asia Pacific
  • The Rest of the World

Features of Composites Tube Market

  • Market Size Estimates: Composites tube 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 and regions.
  • Segmentation Analysis: Market size by end use industry, fiber type, manufacturing process, and region
  • Regional Analysis: Composites tube market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
  • Growth Opportunities: Analysis of growth opportunities in different end use industry, fiber type, manufacturing process, and region for the composites tube market.
  • Strategic Analysis: This includes M&A, new product development, and competitive landscape for the composites tube market.
  • Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
If you are looking to expand your business in composites tube or adjacent markets, then contact us. We have done hundreds of strategic consulting projects in market entry, opportunity screening, due diligence, supply chain analysis, M & A, and more.

FAQ

Q1. What is the growth forecast for composites tube market?
Answer: The composites tube market is expected to grow at a CAGR of 5% from 2023 to 2030.
Q2. What are the major drivers influencing the growth of the composites tube market?
Answer: The major drivers for this market is lower lifecycle cost compared to competing materials, such as steel, wood, and concrete and increasing demand for lightweight composite structures.      
Q3. What are the major applications or end use industry industries for composites tube?
Answer: Automotive and industrial uses are the major end use industry for composite tubes.      
Q4. What are the emerging trends in composites tube market?
Answer: Emerging trends, which have a direct impact on the dynamics of the industry, include. Nano-enhanced composites, automated manufacturing process, recycled and bio-based materials, customization and design flexibility, and advanced resin systems.
Q5. Who are the key composites tube companies?
Answer: Some of the key composite tube companies are Exel Composites, Accurate Plastics, Strongwell Corporation, Fibertech Composite, and Fibergrate Composite Structures.
Q6.Which composites tube product segment will be the largest in future?
Answer: Lucintel forecasts that glass composite tube will remain the largest segment over the forecast period due to its low weight and excellent strength to weight ratio.
Q7: In composites tube market, which region is expected to be the largest in next 7 years?
Answer: Asia Pacific is expected to remain the largest region over next 7 years.      
Q8. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions

Q.1 What are some of the most promising potential, high growth opportunities for the global composites tube market by end use industry (transportation, electrical, sports and leisure, telecommunication, industrial, robotics and automation, and others), by fiber type (carbon fiber, glass fiber, and hybrid), by manufacturing process (pultrusion/ pullwinding, filament winding, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q. 2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to the market?
Q.6 What are the emerging trends in this market and the reasons behind them?
Q.7 What are the changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11 What M & A activities have taken place in the last 5 years in this market?

 
 
Table of Contents
1. Executive Summary
 
2. Global Composites Tube Market Dynamics
2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges
 
3. Market Trends and Forecast Analysis from 2018 to 2030
3.1: Macroeconomic Trends and Forecasts
3.2: Global Composites Tube Market Trends and Forecast
3.3: Global Composites Tube Market by End Use Industry
3.3.1: Transportation
3.3.2: Electrical
3.3.3: Sports & Leisure
3.3.4: Telecommunication
3.3.5: Industrial
3.3.6: Robotics and Automation
3.3.7: Others
3.4: Global Composite Tube Market by Fiber Type
3.5: Global Composite Tube Market by Manufacturing Process
 
4. Market Trends and Forecast Analysis by Region
4.1: Global Composites Tube Market by Region
4.2: North American Composites Tube Market
4.2.1: Market by End Use Industry: Transportation, Electrical, Sports and Leisure, Telecommunication, Industrial, Robotics and Automation and Others
4.3: European Composites Tube Market
4.3.1: Market by End Use Industry: Transportation, Electrical, Sports and Leisure, Telecommunication, Industrial, Robotics and Automation and Others
4.4: APAC Composites Tube Market
4.4.1: Market by End Use Industry: Transportation, Electrical, Sports and Leisure, Telecommunication, Industrial, Robotics and Automation and Others
4.5: ROW Composites Tube Market
4.5.1: Market by End Use Industry: Transportation, Electrical, Sports and Leisure, Telecommunication, Industrial, Robotics and Automation and Others
 
5. Competitor Analysis
5.1: Product Portfolio Analysis
5.2: Market Share Analysis
5.3: Operational Integration
5.4: Geographical Reach
5.5: Porter’s Five Forces Analysis
 
6. Growth Opportunities and Strategic Analysis
6.1: Growth Opportunity Analysis
6.1.1: Growth Opportunities for the Global Composites Tube Market by End Use Industry Industry
6.1.2: Growth Opportunities for the Global Composites Tube Market by Fiber Type
6.1.3: Growth Opportunities for the Global Composites Tube Market by Manufacturing Process
6.1.4: Growth Opportunities for the Global Composites Tube Market by Region
6.2: Emerging Trends in the Global Composite Tube Market
6.3: Strategic Analysis
6.3.1: New Product Development
6.3.2: Mergers and Acquisitions
 
7. Company Profiles of Leading Players
7.1: Exel Composites
7.2: Accurate Plastics
7.3: Strongwell Corporation
7.4: Fibertech Composite
7.5: Fibergrate Composite Structures

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Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
  • In-depth interviews of the major players in this market
  • Detailed secondary research from competitors’ financial statements and published data 
  • Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
  • A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
 
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process. 
 

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