Brazilian Composites Market Trends and Forecast
Lucintel finds that the future of the Brazilian composites material market looks promising with opportunities in pipe and tank, transportation, wind energy, aerospace and defense, construction, marine, and electrical and electronics end uses. The Brazilian composites market is expected to reach an estimated $1,063 million by 2030 with a CAGR of 4% 2023 to 2030. The major drivers for this market are increasing consumption of composites in transportation industry upsurge the growth of the Brazilian composites market and growing demand for composites in construction industry as material of choice due to life cycle cost and increased performance.
In the Brazilian market, composite materials use glass fibers, carbon fibers, and reinforcement, as well as polyester resins, vinyl ester and epoxy for durability and shape maintenance. Calcium carbonate and silica resolve properties economically or enhance them whereas catalysts, accelerators and pigments modify curing times and aesthetics are altered by additives. Advancement in manufacturing technology coupled with onshore production capacity enables competitive pricing thus raising the level of penetration of composites across various industrial sectors in Brazil. Even as they compete primarily based on performance rather than price, composites provide advantages including light weight construction, resistance to corrosion and ability to accommodate different design requirements more especially useful in aerospace industry automotive industries construction.
• Lucintel forecasts that wind energy will remain the largest end use by value and volume over the forecast period due to the growth of wind energy installation in Brazil. Electrical and Electronics is expected to witness highest growth over the forecast period.
• Polyester composite is expected to remain the largest market by value, mainly driven by its low cost and various mechanical properties which includes corrosion resistance and chemical resistance.
Country wise Outlook for the Brazilian Composites Market
The Brazilian composites market is witnessing substantial growth, driven by increased demand from various industries such as aerospace, automotive, wind energy, and construction. Major players in the market are expanding their operations and forming strategic partnerships to strengthen their positions. Below image highlights recent developments by major Brazilian composites producers in key regions: Brazil.
Emerging Trends in the Brazilian Composites Market
Emerging trends in Brazilian Composites Market are shaping its future applications and market dynamics:
1. Innovation Trends Focused on Ultra-High Modulus Glass Fiber: Increase in the number of off-shore turbine installations, re-powering of old turbines and increasing wind market installations with high turbine capacity in locations that have high wind speed are the major factors behind the growing average size of wind turbines with consequent increase in blade sizes. This leads to the need for bigger and stronger blades and so there is a demand for tougher material. As such, Jushi has developed E9 ultra-high modulus glass fiber on 2020. The E9 ultra –high modulus exceeds 100 GPA and fully support large scale development of lightweight wind turbine blades.
2. Advanced Manufacturing Techniques: The use of glass fiber based composites for marine are not new. It is used in hull, deck, and other applications. But now, MOI Composites; manufacturers of advanced technologies; has developed first 3D printed 6.5-meter-long and, 2.5-meter-wide power boat using continuous glass fiber-reinforced thermoset composites. This boat exhibits an entirely new unique shape that could not be achieved by traditional manufacturing techniques. The shipping sector has also embraced green energy.RS Electric Boats produced the first completely electric rigid inflatable boat (RIB) with significant amounts of fiberglass laminates as well as recycled carbon fibers infused into most primary structural parts.
3. Sustainability Focus: In recent years many researches have been done about things that affects human life. Much evolution is going on to produce environmentally friendly resins. Unsaturated polyester resin which is eco-friendly has several properties including its excellent strength, corrosion resistance and thermal resistance. It can also be recycled thus reducing waste. In addition, due to these features within eco-friendly UPR resins its market share is expanding. Demand in Electrical Increased and
4. Low Styrene Content Unsaturated Polyester Resin: Moisture barrier additive containing compositions are made by incorporating low styrene resins into a formulation of the resin. These ones are manufactured in such a way that once you let the mouldings to stand, the additive will form a film over the surface of the resin. In recent years, resin manufacturers have achieved steadily reducing styrene content in standard resins or gelcoats without affecting their handling and performance. LSC additives are effective for suppressing emissions during both dynamic and static process stages. A LSE/LSC resin can be obtained by adding vapour suppressants to an LSC resin thereby allowing further reductions in styrene emission. Moreover, low styrene content resins reduce carbon emissions thus it minimizes effects of poisonous gas exposure on workers.
A total of 107 figures / charts and 68 tables are provided in this 205-page report to help in your business decisions. A sample figure with insights is shown below.
Recent Developments by the Brazilian Composites Suppliers
Recent developments in Brazilian composites by various suppliers highlight ongoing innovations and advancements across different sectors:
• Technology Improvements: Suppliers are increasingly adopting advanced manufacturing techniques and automation to improve production efficiency and quality of products.
• Focus on Sustainability: There is a growing emphasis on sustainable practices, including use of recycled materials and eco-friendly processes to mitigate environmental impact.
• Market Diversification: Brazilian suppliers are diversifying their product offerings and venturing into non-traditional sectors apart from automotive and construction among others.
• International Collaboration: Technology transfer is facilitated by global partnerships with world firms which offer market expansion opportunities.
• Regulatory Compliance: Becoming competitive in the global markets will mean complying to international standards and regulations.
Strategic Growth Opportunities for Brazilian Composites Market
Infrastructure and Construction Sector
• Market Demand: BrazilÄX%$%Xs ongoing infrastructure projects, including stadiums, bridges, and residential buildings, drive demand for composites.
• Opportunity: Composites offer advantages like corrosion resistance, durability, and design flexibility, meeting the needs of modern construction practices and sustainable building standards.
Automotive Industry Expansion
• Industry Applications: Growing automotive production in Brazil increases demand for lightweight composites in vehicle components.
• Opportunity: Composite materials can replace traditional metals, reducing vehicle weight, enhancing fuel efficiency, and meeting stringent emissions regulations.
Renewable Energy Projects:
• Wind and Solar Applications: BrazilÄX%$%Xs renewable energy sector benefits from composites used in wind turbine blades and solar panel supports.
• Opportunity: Investments in wind farms and solar installations drive demand for composites that offer strength, durability, and resistance to environmental factors.
Aerospace and Defense Applications
• Market Segment: BrazilÄX%$%Xs aerospace and defense industries utilize composites in aircraft structures, interiors, and military equipment.
• Opportunity: Advances in composite materials enhance aircraft performance, reduce maintenance costs, and improve operational efficiency.
Marine and Shipbuilding Industry
• Industry Needs: Composites are used in BrazilÄX%$%Xs marine sector for boat hulls, decks, and offshore structures due to their corrosion resistance and lightweight properties.
• Opportunity: Growth in maritime transportation and offshore oil exploration drives demand for composites that withstand harsh marine environments.
Sports and Leisure Equipment
• Market Segment: Composites are essential in Brazil for sports equipment such as surfboards, bicycles, and tennis rackets.
• Opportunity: Increasing participation in sports and outdoor activities fuels demand for high-performance composites that offer strength, flexibility, and lightweight advantages.
Brazilian Composites Market Drivers and Challenges
BrazilÄX%$%Xs composites market is driven by significant factors such as strong industries like construction, automotive and renewable energy. They require a lightweight and durable composite material that is vital for infrastructure development and technological progress. However, fluctuating raw material prices, economic fluctuations, and complicated regulations are some of the challenges to face. Consequently, stakeholders’ attempts to exploit Brazil’s increasing need for high-performance composites in various areas should include learning how to leap over these hurdles as they create alternative ways of manufacturing goods that facilitate sustainable practices.
The key drivers for the Brazilian composites market include:
1. Increased Utilization in Industrial Applications: Use of composites in the automobile, air-travel, construction, and ocean industries is growing.
2. Price: Composites offer thinness, corrosion resistance and durability which save costs with time.
3. Environmental Regulations: Strict environmental regulations are driving the industries towards such sustainable materials as composites.
4. Infrastructure Development: Composite adoption for their attributes of endurance and performance has seen infrastructural projects including those related to transportation and energy sectors get into this line of thought.
5. Technological Advances: Innovations in composite materials as well as manufacturing processes boost product performance while also increasing application possibilities.
The challenges in the Brazilian composites market include:
1. The High Cost of Raw Materials: Production costs can be affected by over reliance on imported raw materials and price fluctuations
2. Technological Obstacles: The lack of expertise concerning modern methods used to make complex composites may cause stagnation within this market
3. Market Fragmentation: Small- and medium-sized enterprises face scaling up challenges and difficulty accessing advanced technologies due to a fragmented market structure
4. Regulatory Hurdles: Complexity in rules regarding standards or certifications applicable to composites could increase compliance cost or delay approval procedures
5. Economic Uncertainty: Instability in Brazil’s economy plus rates of currency exchange may influence market stability as well as investment determinants
To sum up, the way forward in dealing with challenges of Brazil’s composites market is to encourage innovation and sustainability initiatives. In order to overcome regulatory complexities and economic uncertainties, technological advancements could be used as a tool towards enhancing market resilience. The adoption of these drivers does not only bolster industry’s growth but will also position organizations to take advantage of the escalating appetite for high-performance composite materials in various Brazilian sectors.
Brazilian Composites Suppliers and Their Market Shares
In this Brazilian competitive market, several key players such as Chongqing Polycomp International Corporation, Owens Corning, Jushi Group Co., Ltd, Polynt Group, INEOS Composites etc. dominate the market and contribute to industry’s growth and innovation. These players capture maximum market share. To know the current market share of each of major players, contact us. If you wish to deep dive in competitive positioning of these players then you can look into our other syndicated market report on “Brazilian Composites Market Leadership Report".
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies Brazilian composites companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the Brazilian composites companies profiled in this report include.
• Chongqing Polycomp International Corporation
• Owens Corning
• Jushi Group Co., Ltd
• Polynt-Reichhold
• INEOS Composites
These companies have established themselves as leaders in the Brazilian Composites market, with extensive product portfolios, global presence, and strong research and development capabilities. They continually strive to enhance their market positions through strategic partnerships, mergers and acquisitions, and product innovations.
The market share dynamics within the Brazilian composites market are evolving, with the entry of new players and the emergence of innovative Brazilian composites technologies. Additionally, collaborations between material suppliers, manufacturers, and end-users are fostering technological advancements and expanding market opportunities.
Brazilian Composites Market by Segment
There is a considerable growth being witnessed in Brazilian composites market across major segments. These automotive applications are expanding because they require light materials to improve fuel economy. Composites are often preferred in building for infrastructure projects, due to their strength and flexibility of design. The aerospace industry is increasingly employing composite materials in making parts of aircrafts, as they have the highest ratio of strength to weight among all others. The wind-energy sector has grown faster since it depends on composites served as a means of improving the strength, and resistance against harsh environmental conditions in manufacturing wind turbines. There is also an increased use of composites in marine applications mainly owing to their corrosion resistance properties and lightness. All these trends indicate that there are many opportunities that support growth dynamics within the Brazilian market for composites.
Brazilian Composites Market by End Use [Value ($M) and Volume (M lbs) Analysis for 2018 – 2030]:
• Pipes and Tanks
• Transportation
• Wind Energy
• Aerospace and Defense
• Construction
• Marine
• Electrical and Electronics
• Others
Brazilian Composites Market by Manufacturing Process [Volume (M lbs) analysis for 2018 – 2030]:
• Hand Lay-Up and Spray- Up
• RTM
• Filament Winding
• Continuous Lamination
• BMC/SMC
• Infusion
• Pultrusion
• Others
Brazilian Composites Market by Fiber Type [Value ($M) and Volume (M lbs) Analysis for 2018 – 2030]:
• Glass Fiber Composites
• Carbon Fiber Composites
Brazilian Composites Market by Resin Type [Value ($M) and Volume (M lbs) Analysis for 2018 – 2030]:
• Polyester Composites
• Epoxy Composites
• Other Composites
Features of Brazilian Composite Market
• Market Size Estimates: Brazilian composite market size estimation in terms of value ($B) and volume (M lbs)
• Trend and Forecast Analysis: Market trends (2018-2023) and forecast (2024-2030) by various segments.
• Segmentation Analysis: Market size by end use, manufacturing process, resin type and fiber type.
• Growth Opportunities: Analysis of growth opportunities in different end use and country for the Brazilian composite market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape for the Brazilian composite market.
• Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the Brazilian composites market size?
Answer: The Brazilian composites market is expected to reach an estimated $1,063 million by 2030
Q2. What is the growth forecast for Brazilian composites market?
Answer: The Brazilian composites market is expected to grow at a CAGR of 4% from 2023 to 2030.
Q3. What are the major drivers influencing the growth of the Brazilian composites market?
Answer: The major drivers for this market are increasing consumption of composites in transportation industry upsurge the growth of the Brazilian composites market and growing demand for composites in construction industry as material of choice due to life cycle cost and increased performance.
Q4. What are the major end uses for Brazilian composites?
Answer: Wind energy and construction are the major end uses for Brazilian composites.
Q5. What are the emerging trends in Brazilian composites market?
Answer: Emerging trends, which have a direct impact on the dynamics of the industry, includes innovation trends focused on ultra-high modulus glass fiber, advanced manufacturing technique, sustainability focus, and low styrene content unsaturated polyester resin.
Q6. Who are the key Brazilian composites companies?
Answer: Some of the key Brazilian composites companies are as follows:
• Chongqing Polycomp International Corporation
• Owens Corning
• Jushi Group Co., Ltd
• Polynt-Reichhold
• INEOS Composites
Q7. Which Brazilian composites resin type segment will be the largest in future?
Answer: Lucintel forecasts that polyester composite is expected to remain the largest market by value, mainly driven by its low cost and various mechanical properties which includes corrosion resistance and chemical resistance.
Q8. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.
This report answers following 10 key questions
Q.1 What are some of the most promising potential, high-growth opportunities for the Brazilian composites market by end use (pipe and tank, transportation, wind energy, aerospace and defense, construction, marine, electrical and electronics, and others), manufacturing process (hand layup and spray-up, RTM, filament winding, continuous lamination, BMC/SMC, infusion, pultrusion and others), fiber type (glass fiber composites and carbon fiber composites), and resin type (polyester composites, epoxy composites, and other composites)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.4 What are the business risks and threats to the market?
Q.5 What are the emerging trends in this market and the reasons behind them?
Q.6 What are the changing demands of customers in the market?
Q.7 What are the new developments in the market? Which companies are leading these developments?
Q.8 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.9 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via material or product substitution?
Q.10 What M & A activities have taken place in the last 5 years in this market?