Lucintel Forecasts Good Growth Opportunities for Composites Industry Stakeholders in Global Rail Market During 2013-2018
Irving, TX, July 20, 2014 --(PR.com
)-- The total global rail market is expected to witness good growth and reach an estimated $278 billion in 2018. Composite materials consumption in the global rail industry experienced high double-digit growth from 2007 to 2012. Greater growth in composites material consumption compared to the growth in the number of global railcars sold demonstrates the increase in the average composite materials content per vehicle over those five years. Recent research indicates that the rail composites market will be in a higher growth phase in 2013-2014 Composites consumption in the global rail market in terms of end market is expected to reach $428.4 million in 2018.
Lucintel, a leading global management consulting and market research firm, has conducted an analysis of the industry and presents its findings in “Opportunities for Composites in the Global Rail Market 2013-2018.”In the global rail market, Asia Pacific (APAC) is anticipated to witness the highest growth, followed by the Rest of the World, Europe, and North America.
Composites use in the global rail is primarily driven by weight reduction, which increases the speed of the train and FST performance, which increases the safety. Some challenges exist, however, such as the high cost of composites compared to metals, lack of proper joining techniques, absence of standardization (in terms of material grade), and poor reparability and recyclability. These challenges all threaten to limit the penetration of composites in high-speed rail applications.
The market is highly dominated by the polyester resin due to cost competitiveness. Most of the composite materials used are based on glass/polyester laminates followed by the glass/phenolic laminates. Use of the latter is confined to high fire risk applications, such as trains that frequently go through tunnels.
The report, which provides trend scenarios and forecast statistics for 2013-2018; details industry drivers and challenges; global rail market analysis by types of rail cars and regions; describes industry leaders; highlights composite materials and their applications in rail industry; presents an overview of composites applications in rail market; discuses composites rail tie manufacturers; and more.
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