The global market for Rail Composite is growing at a healthy rate with Asia-Pacific and Europe as a leading consumer, followed by the North America. The major types of composite used in rail applications are glass fiber composite, carbon fiber composite, and other composites. Glass fiber composite is the largest material type for rail composite. In terms of volume, Asia-Pacific is projected to witness a high growth rate between 2015 and 2020 and is currently the fastest-growing market for rail composite.
This report follows both top-down and bottom-up approaches to estimate and forecast the global rail composite market by volume and value. This report focuses on the global rail composite market by its fiber type, resin type, application, and region.
Asia-Pacific is the fastest growing market for rail composite across the world, followed by Europe and the North America. China is one of the world’s largest consumers for rail composite. Favorable trends in high speed rail industry and increasing demand for rail composite are some of the factors responsible for extensive expansions in the Asia-Pacific region. Toray Industries, Inc. (Japan), and Teijin Limited (Japan) are some of the major composite material manufacturers in Asia-Pacific. Europe is projected to witness decent growth rate, especially in countries like U.K. and Germany due to high demand of composite in different rail applications. The need for fuel efficient vehicles, reduced weight and parts consolidation of rail is driving the growth of rail composite market. With extensive research and cost-effective mass production techniques in place, would result in a direct increase in composite demand for the all the application areas also including the rail sector.
The major countries consuming rail composite include U.S., Russia, China, Germany, U.K., India, Canada, and Japan.
Rail Composites Market by Fiber type (Glass fiber, Carbon fiber and others), Applications (Interior, Exterior etc.), by resin type (Polyester, Phenolic, Epoxy etc.) and by geography - Trend and Forecast to 2020
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