Pune, India, July 19,2019- The [report 127 pages] Rail Composites Market is projected to witness a CAGR of more than 8.5% between 2015 and 2020 and is expected to reach global market value of more than $1 billion by 2020.
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The global market is witnessing high growth because of its increasing use in different applications, such as interior and exterior components. Decreasing cost of rail composite processing and reduced cycle time are further anticipated to drive the market globally in the projected period.
Glass fiber composite is the most consumed rail composite across the world. Most of the rail composite materials offer superior properties than the conventional materials and have flexible nature, making them moldable in any shape. Use of composites in rail makes it lighter and renders greater resistance to heat, external impact and improves fuel efficiency. Also, rail makers are focusing on vehicle weight reduction.
The interior components application is witnessing the high demand. Use of carbon fiber composite in rail applications has a wide scope of expansion, but its high cost is hindering the use of carbon fiber composite in the rail industry.
Toray Industries (Japan), Cytec Industries Inc. (U.S.), Royal TenCate nv (Netherlands), Gurit Holding AG (Switzerland), Hexel Corporation (U.S.), and Teijin Limited (Japan) are some of the major supplier of rail composites material. Company profiling and competitive strategies adopted by top rail composite components manufacturers such as AIM ALTITUDE (U.K.), Dartford Composites Ltd. (U.K.), and Exports Limited (India), Premier Composite Technologies (Dubai), FDC Composites Inc. (Canada), TPI Composites Inc. (U.S.), etc. are also covered in the report.
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