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Asia-Pacific Dominates the Global Composite Rollers Market in 2020, Fueled by Growth Opportunities in Emerging Economies and Robust Mineral Industry

NEW YORK, UNITED STATES, April 20, 2023 /EINPresswire.com/ -- The global composite rollers market was valued at US$ 127,751.13 thousand in 2020 and is expected to grow at a CAGR of 5.1% from 2021 to 2028, reaching US$ 187,691.57 thousand by the end of 2028. Composite rollers are made from raw materials such as resins, fibers, and prepreg fabrics, and are produced using two technologies, filament winding and wrapping. The market is witnessing constant innovation and development in industrial machinery, leading to increased demand for lightweight and energy-efficient materials.

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The application of composite materials is expanding in several end-use industries, including pulp and paper, mining, textile, and others. The composite rollers market is bifurcated into two categories based on resin type: thermoset and thermoplastic. The thermoset segment led the market with a larger share in 2020.

Thermoset components are extensively used in a wide range of industries due to their excellent chemical and thermal stability, hardness, superior strength, and moldability. Epoxy, polyester, silicone, vinyl ester, polyamide & polyamide-imide, polyurethane, and phenolic are some of the common examples of thermoset plastics and polymers used in the market. Unlike thermoplastic pellets, the components of thermoset polymers are usually stored in liquid form, normally in large tanks or containers.

Report Coverage- Details

Market Size Value in- US$ 127,751.13 thousand in 2020
Market Size Value by- US$ 187,691.57 thousand by 2028
Growth rate- CAGR of 5.1% from 2021-2028
Forecast Period- 2021-2028
Base Year- 2021
No. of Pages- 169
No. of Tables- 83
No. of Charts & Figures- 81
Historical data available- Yes
Segments covered- Fiber Type , Resin Type , and End-Use Industry
Regional scope- North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country scope- US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Report coverage - Revenue forecast, company ranking, competitive landscape, growth factors, and trends

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A few key market players operating in the composite rollers market are Amalga Composites, Inc.; Artur Kuepper Pty. Ltd.; Beijing Haosheng Transmission Technology CO., LTD.; Belle Banne Conveyor Products; Double Company LLC; Epsilon Composite; FWT Composites & Rolls GMBH; HÄHL GMBH; Inometa; Lorbrand Composites; Nepean Conveyors; North Street Cooling Towers PVT. LTD.; Flexco; and PRONEXOS B.V. Major market players are adopting strategies such as mergers and acquisitions and product launches to expand the geographical presence and consumer base globally.

Based on resin type, the composite rollers market is bifurcated into thermoset and thermoplastic. The thermoset segment led the market with a larger share in 2020. Thermoset components are utilized extensively in a wide range of industries. They are used in the mining, pulp & paper, textile, automotive, appliance, electrical, lighting, and energy markets, owing to excellent chemical and thermal stability, along with hardness, superior strength, and moldability. Common examples of thermoset plastics and polymers include epoxy, polyester, silicone, vinyl ester, polyamide & polyamide-imide, polyurethane, and phenolic. Unlike thermoplastic pellets, the components of thermoset polymers are usually stored in liquid form, normally in large tanks or containers. Different thermosets offer different advantages when employed as a production material. The main characteristic of thermosets (literally setting under heat) is that they need curing when they undergo a molecular cross-linking process, which is irreversible, and it also renders them infusible. Therefore, they offer high thermal stability, good rigidity & hardness, and resistance to creep. Due to these properties, these resins are utilized in the making of composite rollers, which are further used in many industries.

The global composite rollers market is segmented into five main regions—North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and South America. In 2020, Asia-Pacific accounted for the largest share in the global composite rollers market. The emerging nations in Asia-Pacific are witnessing an upsurge in the middle-class population, coupled with growth in urbanization, which is offering massive opportunities for the key market players. The growth of the composite roller market in Asia-Pacific is attributed to the presence of countries such as Australia, China, and India that produce iron ore, coal, and mineral. The rise in the flexible packaging industry in the region would also drive the market growth in Asia-Pacific during the forecast period.

Impact of COVID-19 Pandemic on Composite Rollers Market

The ongoing COVID-19 pandemic has drastically altered the status of the composites industry and has negatively impacted the growth of the composites materials market. The outbreak has distorted operational efficiency and disrupted the value chains due to the sudden closure of national and international boundaries, creating revenue loss and damage. The disruptive value chain has had a negative impact on the raw material supply, which, in turn, is negatively impacting the growth of the composites materials market. However, as the economies are planning to revive their operations, the demand for composites materials is presumed to rise globally. Further, positive measures undertaken by the government, along with distributed generations and incorporation of advanced technology, is yet another factor expected to bolster market growth in the coming years. However, the focus on just-in-time production is hindering the market growth.

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