Composite Film Market Size & Global Industry Forecast Report, 2021-2028


Composite Film Market

According to the research report published by the GMI Organization, the Composite Film Market will experience a healthy growth of 4.8% over the forecast period. The chief forces stimulating the demand for composite films are their growing usage of these films with rising aircraft deliveries and their assistance in reducing weight associated with surface development.

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Composite Film Market Dynamics

The surge in demand for fuel-effective and lightweight materials stands to be one of the primary reasons responsible for the growth of the global composite films market share. This is because weight reduction has become an essential facet of various production sectors, such as automobiles and aviation. Thus, various companies are emphasizing including composite films to reduce the overall weight and raise the effectiveness of the final product. Also, composite films have the potential to resist lightning strikes, which has bolstered their demand in commercial aircraft such as Airbus 350 and Boeing 787. Nearly 50 percent of this aircraft body is made of composite films. Hence, all these factors have encouraged market growth. The increasing usage of strength to weight ratio in the composite films is more than steel or aluminum, which has raised its demand in various end-use industries. However, the excessive risk concerned with the production process and establishing economical technologies will restrain the Composite Film Market size.                                                                                          

Function Segment Drivers

By Function, the Lightning Strike Protection segment is likely to witness faster growth over the coming years. As per the Composite Film Market global forecast, the aerospace & defense end-use industry is accounted to be one of the largest consumers of lightning strike protection composite film. In accordance with Lightning Technologies Inc., almost all airplanes in the US commercial fleet get knocked by lightning more than once a year, which has evolved the need for composite panels. Moreover, Airbus and Boeing's anticipation for the next two decades states that passenger traffic would increase, leading to the production of new aircraft, which would demand a considerable amount of film.

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GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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