The report “Rail Composites Market by Fiber Type (Glass Fiber, Carbon Fiber), Resin Type (Polyester, Phenolic, Epoxy, Vinyl Ester), Manufacturing Process (Lay-up, Injection Molding, Compression Molding, RTM), Application, & Region – Global Forecast to 2028”, is estimated at USD 1.7 billion in 2023 and is projected to reach USD 2.4 billion by 2028, at a CAGR of 7.2% from 2023 to 2028. A composite is manufactured by physically combining two or more materials (components) to produce a blend of structural properties not present in any individual component. Composite those are used in rail interior, exterior, and other components are considered as rail composite. The rail composites market is mainly dominated by glass composites. The market of carbon composite is significantly smaller than that of glass composite, which is the main reason for its oligopolistic market structure.
Browse 239 market data Tables and 64 Figures spread through 217 Pages and in-depth TOC on “Rail Composites Market by Fiber Type (Glass Fiber, Carbon Fiber), Resin Type (Polyester, Phenolic, Epoxy, Vinyl Ester), Manufacturing Process (Lay-up, Injection Molding, Compression Molding, RTM), Application, & Region – Global Forecast to 2028”
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The Phenolic resin segment accounted for the largest market share in 2022, in terms of value.
Phenolic resin segment dominated the rail composites market in 2022, in terms of value. Phenolic resins helps to reduce overall weight which turns, allows for high speeds, lower wear, decreased trackm load, and reduced maintenance cost of tracksides. Phenolic resin composites are resistant to environmental degradation and fatigue demage compared to other metals. Phenolic resin composites are easily moldable and can be used in various rail applications.
The carbon fiber segment accounted for the second-largest market share in 2022, in terms of value.
In terms of value, carbon fiber accounted for second-largest share of the reinforcements used in rail composite consumption, globally. Carbon fiber composites are high-cost materials used in higher strength applications in the rail industry as they are comparatively lightweight and strong. Hence, carbon fiber composites can be used in the production of front cabin, front nose, side panels, flywheel, beams, and other components.
Lay-up manufacturing process segment accounted for the largest market share in 2022, in terms of value.
In 2020, lay-up manufacturing process accounted for larget market share, in terms of value. Lay-up process gets mostly used in designing simple and lightly loaded rail structural panels. In this process, manufacturers can control the orientation of fibers as per the need to absorb the maximum possible stress. The lay-up process is divided into hand, tape, and spray lay-up. Hand lay-up is the most commonly used process for manufacturing rail composites.
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Interior Components to remain the largest end-use application in terms of value during the forecast period.
Interior composite components used in rail application include components, such as seats, ducts, interior panels, luggage bins, cushion fabrics, driver’s console, and undercarriage water tanks, among others. In the recent years, rail manufacturers have started using composite materials for all types of rails, earlier which the use was limited to high-speed rails and metro/subway trains. Use of composites in carriages also can facilitate designer’s and engineer’s creativity and allow more in-cabin space for commuters.
North America accounted for the third-largest share in 2022, in terms of value.
In 2022, North America region accounted for third-largest market share in terms of value and volume. The growth in the rail composites market in this region is driven mainly by its use in passenger rail, heavy urban rail, and light rail. Unlike Europe and Asia Pacific, the development of high speed rail in North America has been slow and reluctant. This is one of the major reasons for having less demand for rail composites in North America than Asia-Pacific and Europe. In the upcoming years, the market in North America is expected to grow with moderate CAGR.
Key Players:
Prominent companies in the rail composites market include Gurit Holdings AG (Switzerland), Hexcel Corporation (US), 3A Composites (Switzerland), Toray Industries, Inc. (Japan), Solvay (Belgium), Teijin Limited (Japan), Premier Composite Technologies (UAE), Dartford Composites Ltd. (UK), Exel Composites (Finland), Avient Corporation (US), Kineco Limited (India), BASF SE (Germany), AVIC Cabin Systems (UK), BFG International (Bahrain), and Reliance Industries Ltd. (India).
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Gurit Holdings AG (Switzerland)
Gurit Holding is specialized in the development and manufacturing of advanced composite materials, related technologies, and select finished parts and components. The company is one of the leading global suppliers of advanced composite materials. The operations of the company are managed under two business units, which include composites system & engineering and composite materials.
The company offers a diverse product range, which includes fiber reinforced prepregs, structural core products (man-made materials and balsa wood), gel coats, adhesives, resins, and consumables. Gurit has a global presence with offices, manufacturing sites, and distribution networks across various regions including Europe, North and South America, the Middle East, China, New Zealand, Australia, and India.
Hexcel Corporation (US)
Hexcel Corporation is one of the leading manufacturers of advanced composites. The company develops, manufactures, and markets lightweight, high-performance structural materials, including carbon fibers, reinforcements for composites, prepregs, honeycomb, matrix systems, adhesives, and composite structures. These products have applications in the aerospace, defense, automotive, and industrial sectors.
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