The composite repairs market was valued at USD 9.44 Billion in 2015 and is projected to reach USD 21.97 Billion by 2026, at a CAGR of 8.0% between 2016 and 2026. The market is expected to be driven by increased installation of wind turbines in countries such as China, the U.S., Germany, Spain, and India. Furthermore, increasing application of carbon fiber composites in the automotive & transportation industry is expected to drive the composite repairs market during the forecast period.
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Increasing use of composites in airframes of new generation commercial aircraft such as Airbus A350 & A380, and Boeing 787 Dreamliner has created the demand for composite repairs. This is expected to drive the composite repairs market during the forecast period.
The autoclave segment is projected to grow at the highest CAGR during the forecast period due to increasing focus on composite repairs and aerospace MRO in China and South East Asian countries such as Malaysia, Singapore, Indonesia, Philippines, and Vietnam.
Asia-Pacific accounted for the largest share of the composite repairs market in 2015 and is expected to grow at the highest CAGR from 2016 to 2026. Growing maintenance, repair, and overhaul (MRO) as well as composite repair activity in China, Japan, India, and South East Asian countries are expected to drive the aerospace & defense segment of the composite repairs market in this region. Existing wind energy capacity in China, India, Japan, and Australia is expected to drive the composite repairs market for wind energy during the short-term forecast period. In addition, upcoming wind energy installations in India and South East Asian countries are expected to fuel the market growth during the long-term forecast period.
The composite repairs market is highly fragmented. Composite repair service providers are different for different end-use industries. Lufthansa Technik AG (Germany), Air France KLM E&M (France), and HAECO (U.S.) are the key players providing services to the aerospace & defense industry. Similarly, for wind energy, UpWind Solution (U.S.), Total Wind Group A/S (Denmark), and Technical Wind Services (Scotland) are the key players providing composite repair services. Citadel Technologies (U.S.), Milliken Infrastructure (U.S.), and T.D. Williamson (U.S.) are the key service providers for the FRP pipeline repair. West Systems (U.S.) and WR composites (U.K.) provide repair services for composite boats. Fibrwraps (U.S.) and Concrete Repairs Ltd. (U.K.) provide repair services to the construction industry.
Scope of Composite Repairs Market On the basis of End-Use Industry:
- Aerospace & Defense
- Wind Energy
- Automotive & Transportation
- Marine
- Construction
- Pipe & Tank
- Others
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