Artificial Intelligence
Composites Market Size to Reach Around US$ 163.14 Bn by 2030
Tokyo, April 08, 2022 (GLOBE NEWSWIRE) — The global composites market size was estimated at US$ 94.34 billion in 2021. When two or more components with different physiochemical properties are mixed and delivered, a new material known as composites is created with properties that are different from the origin source attributes. These composites can either be created naturally and artificially. The few naturally occurring composites include wood, collagen, and wood, whereas other materials are handmade. Composites are popular in sectors such as aerospace, transportation, electronics, and automotive because of their properties.
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The component firms’ procurement procedures will most likely be hampered by the high cost of raw materials for composites. The increased disposable income and a willingness to spend more on higher quality products, on the other hand, are expected to have a positive impact on the composites market growth during the forecast period.
Growth Factors
Global composites market is largely influenced by ascending lightweight materials demand in many sectors like automotive, wind energy, transportation, aerospace and defense. Growing demand for composites in the automotive sector of emerging economies is predicted to lift the growth of global composite market during forecast period. Escalating prices of fuel have prompted the requirement for fuel-efficient vehicles. Composites are largely employed as the replacement for wood, aluminum, and steel due to its greater strength to weight ratio.
At present, against the backdrop of unsettled China/U.S. trade disagreements, the U.S. composites sector stays optimistic and endures to demonstrate positive growth. This mainly backed by stable growth of aerospace wind energy, and construction areas.
| Report Scope | Details | |
| Market Size in 2021 | USD 94.34 Billion | |
| CAGR | 7.8% from 2022 to 2030 | |
| Asia Pacific Market Share in 2021 | 45.5% | |
| Glass Fiber Market Share in 2021 | 61.5% | |
| Thermosetting Resin Market Share in 2021 | 70% | |
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Regional Snapshot
North America is the largest segment for composites market in terms of region. The North America composites market is being influenced by a growing demand from the automotive industry, an increase in defense budgets in several nations, and an increase in demand from the electronics industry. Furthermore, increased market players’ awareness of the product’s benefits is expected to provide the region’s market growth a boost.
Asia-Pacific region is the fastest growing region in the composites market. The Asia-Pacific region’s robust vehicle manufacturing industries, combined with a high prevalence of electrical and electronic components companies, are expected to drive the demand for composites in the region.
Report Highlights
- Based on the product, the glass fiber segment dominated the global composites market in 2020 with highest market share 61.5%. These fibers are used in industrial and manufacturing applications because of their advantageous qualities such as high stiffness, low weight, minimal thermal expansion, and strong chemical resistance.
- Based on the manufacturing process, the layup process segment dominated the global composites market in 2020 with highest market share. Rising production of wind turbine blades and boats is likely to propel the layup process segment of the global composites market growth.
- Based on the end use, the automotive and transportation segment dominated the global composites market in 2020 with highest market share. Composites provide benefits to the transportation industry, such as fuel savings, because the components are substantially lower in weight, allowing for increased fuel efficiency.
Market Dynamics
Drivers
Rising demand for lightweight materials
The composites market is growing because to a surge in demand for lightweight materials in the automobile industry to improve fuel efficiency. Additionally, the growing use of high-performance composites in kinetic buildings, such as advanced composite technologies like the production of non-composite and biomimetic composite materials to replace traditional materials. As a result, the rising demand for lightweight materials is driving the growth of the composites market during the forecast period.
Restraints
Lack of standardization in manufacturing industry
The manufacturers of aerospace and automobiles are forced to choose conservative designs due to lack of material and methodology standardization, which impedes mass manufacturing and economic performance of automobiles and aircraft. Furthermore, a scarcity of labor resources with composites training and experience limits the use of composites in new applications. As a result, the lack of standardization in manufacturing industry is hindering the growth of the composites market.
Opportunities
Surge in demand from the aerospace industry
The use of composites in the aerospace sector has grown and broadened since a decade. Both for commercial and business aircrafts, the aircraft manufacturers are taking steps to increase key structures in thermoplastic. The aircraft manufacturers were among the first to embrace long fibers reinforced thermoplastics technology. Polyetherimide with carbon is the most common thermoplastic composition in the industry today. These materials have two key properties that make them appealing for aerospace applications. Thus, the surge in demand from the aerospace industry is creating lucrative opportunities for the growth of the composites market.
Challenges
Stringent environmental policies
The strict environmental policies and legislation, as well as increased restrictions and costs for landfill disposal are some of the challenges faced by the composites market. Furthermore, the growing use of life cycle assessment as part of the material selection process in a variety of industries is putting composite end of life waste management under close scrutiny. In addition, rising plastic waste has compelled legislators around the world to enact strict environmental regulations. The introduction of single use plastic laws in a number of nations has drawn attention to the steps taken by governments to address the problems caused by plastic waste. Thus, the strict environmental policies are a huge challenge for the growth of the composites market during the forecast period.
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Key Players & Strategies
Some of the topmost suppliers of glass fiber in the U.S are Jushi, Nippon Electric Glass, Owens Corning, CPIC and Johns Manville. The glass fiber business is quite consolidated, with the uppermost 3 players occupying more than 50% of the total output by value. In order to accomplish the growing demand for glass fiber in numerous applications, enterprises are trying to develop both inorganically and organically. For example, in 2019, Jushi USA started operation of its alkali-free fiber production line along with capacity of 96,000 tons annually and an over-all investment of USD 350 million. On the other hand, in 2017-18, Nippon Electrical Glass acquired the outstanding PPG USA fiberglass operations with around USD 550 million.
Market Segmentation
By Product Type
- Glass Fiber
- Carbon Fiber
- Others
By Resin Type
- Thermoplastic
- Thermosetting
- Others
By Manufacturing Process Type
- Injection Molding Process
- Resin Transfer Molding Process
- Pultrusion Process
- Layup Process
- Filament Winding Process
- Compression Molding Process
- Others
By End Use Type
- Electrical & Electronics
- Automotive & Transportation
- Wind Energy
- Aerospace & Defense
- Pipes & Tanks
- Construction & Infrastructure
- Marine
- Others
By Geography
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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Artificial Intelligence
Clinical Trials Matching Software Market Projected to Reach $832.56 million by 2030 – Exclusive Report by 360iResearch
PUNE, India, April 18, 2024 /PRNewswire/ — The report titled “Clinical Trials Matching Software Market by Functionality (Analytics & Reporting, Compliance Tracking, Data Management), Deployment (Cloud & Web Based, On-Premise), End-Use – Global Forecast 2024-2030” is now available on 360iResearch.com’s offering, presents an analysis indicating that the market projected to grow from a size of $342.20 million in 2023 to reach $832.56 million by 2030, at a CAGR of 13.54% over the forecast period.
“The Global Surge in Adoption of Matching Software for Enhanced Participant Enrollment”
Clinical trials matching software stands at the forefront of revolutionizing clinical research by automating the process of identifying and enrolling eligible participants. These platforms offer a streamlined approach to match patient health profiles with trial requirements, accelerating enrollment and supporting the shift toward personalized healthcare using these advanced AI and ML technologies. Although integrating these systems poses challenges due to variations in healthcare IT infrastructure and the imperative for rigorous data security, the potential for market growth is substantial. In the Americas, a robust clinical trials ecosystem thrives; in the European Union, it has unified regulatory standards and extended to emerging regions such as the Middle East, Africa, and the APAC countries; the demand for such innovative solutions is on a steep rise. This demand is fueled by governmental support, the evolving regulatory landscape, and strategic partnerships to embed these solutions within electronic health records, underscoring a global movement toward optimizing clinical trial processes to better cater to specific patient demographics.
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“The Rise of Virtual Trials and Advanced Matching Software”
The healthcare landscape is witnessing a transformative shift toward virtual clinical trials, fueled by technological advancements and the necessity for continuity during the COVID-19 pandemic. This transition supports research amid social distancing measures and introduces significant cost savings by reducing the need for physical infrastructure and in-person interactions. The efficiencies brought by electronic health records (EHR), wearable technologies, and automation streamline the entire process, from patient recruitment to data analysis. Several approaches, endorsed by regulatory bodies such as the FDA, represent a leap forward in making clinical trials more accessible and streamlined, ensuring that more patients can participate in potentially life-saving research without the geographical and logistic constraints of traditional trials.
“Enhancing Clinical Trials through Advanced Analytics, Rigorous Compliance, and Precision-Patient Matching”
Integrating advanced analytics, meticulous compliance monitoring, and precision-patient matching marks a significant advancement toward maximizing efficiency and fostering trial diversity. The software delivers insightful data on trial progress, participant demographics, and enrollment figures, empowering stakeholders to make well-informed decisions and optimize resource distribution to meet trial goals effectively by implementing cutting-edge analytics. The built-in compliance feature ensures trials are conducted in strict adherence to regulatory standards, minimizing risks associated with non-compliance. Furthermore, a robust data management system guarantees the integrity and availability of clinical trial data, which is critical for the seamless operation and real-time analysis of trials. The software includes state-of-the-art patient matching technology, which employs sophisticated algorithms and artificial intelligence to expedite recruitment by accurately identifying candidates who match specific trial requirements. This innovative approach accelerates the recruitment timeline and enhances the diversification of trial participants, paving the way for more inclusive and representative clinical research outcomes.
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“Medidata by Dassault Systèmes SE at the Forefront of Clinical Trials Matching Software Market with a Strong 11.30% Market Share”
The key players in the Clinical Trials Matching Software Market include International Business Machines Corporation, Science 37, Inc. by eMed, LLC, Medidata by Dassault Systèmes SE, AutoCruitment LLC, Deep 6 AI Inc., and others. These prominent players focus on strategies such as expansions, acquisitions, joint ventures, and developing new products to strengthen their market positions.
“Introducing ThinkMi: Revolutionizing Market Intelligence with AI-Powered Insights for the Clinical Trials Matching Software Market”
We proudly unveil ThinkMi, a cutting-edge AI product designed to transform how businesses interact with the Clinical Trials Matching Software Market. ThinkMi stands out as your premier market intelligence partner, delivering unparalleled insights with the power of artificial intelligence. Whether deciphering market trends or offering actionable intelligence, ThinkMi is engineered to provide precise, relevant answers to your most critical business questions. This revolutionary tool is more than just an information source; it’s a strategic asset that empowers your decision-making with up-to-the-minute data, ensuring you stay ahead in the fiercely competitive Clinical Trials Matching Software Market. Embrace the future of market analysis with ThinkMi, where informed decisions lead to remarkable growth.
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“Dive into the Clinical Trials Matching Software Market Landscape: Explore 190 Pages of Insights, 286 Tables, and 22 Figures”
PrefaceResearch MethodologyExecutive SummaryMarket OverviewMarket InsightsClinical Trials Matching Software Market, by FunctionalityClinical Trials Matching Software Market, by DeploymentClinical Trials Matching Software Market, by End-UseAmericas Clinical Trials Matching Software MarketAsia-Pacific Clinical Trials Matching Software MarketEurope, Middle East & Africa Clinical Trials Matching Software MarketCompetitive LandscapeCompetitive PortfolioInquire Before Buying @ https://www.360iresearch.com/library/intelligence/clinical-trials-matching-software
Related Reports:
Clinical Trial Support Services Market – Global Forecast 2024-2030Virtual Clinical Trials Market – Global Forecast 2024-2030Clinical Trials Management System Market – Global Forecast 2024-2030About 360iResearch
Founded in 2017, 360iResearch is a market research and business consulting company headquartered in India, with clients and focus markets spanning the globe.
We are a dynamic, nimble company that believes in carving ambitious, purposeful goals and achieving them with the backing of our greatest asset — our people.
Quick on our feet, we have our ear to the ground when it comes to market intelligence and volatility. Our market intelligence is diligent, real-time and tailored to your needs, and arms you with all the insight that empowers strategic decision-making.
Our clientele encompasses about 80% of the Fortune Global 500, and leading consulting and research companies and academic institutions that rely on our expertise in compiling data in niche markets. Our meta-insights are intelligent, impactful and infinite, and translate into actionable data that support your quest for enhanced profitability, tapping into niche markets, and exploring new revenue opportunities.
Contact 360iResearchMr. Ketan Rohom360iResearch Private Limited,Office No. 519, Nyati Empress,Opposite Phoenix Market City,Vimannagar, Pune, Maharashtra,India – 411014.Email: [email protected]: +1-530-264-8485India: +91-922-607-7550
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BOSTON, April 18, 2024 /PRNewswire/ — The RepTrak™ Company, the world’s leading reputation data and insights company, released its annual Global RepTrak 100 report. Utilizing its advanced reputation monitoring software, RepTrak gathered data from more than 243,000 survey responses across 14 major economies to rank the world’s 100 most reputable companies. They share that ranking alongside a full analysis of global corporate reputation trends and corresponding public sentiment in the 2024 report.
After two years of consecutive Reputation Score declines, this year’s Score is back up with an increase from 73.2 in 2023 to 73.8 in 2024. It’s a small increase after 2023’s full one-point drop. However, it’s an encouraging sign that companies have begun to recover from reputation falls driven by many challenges: macroeconomic issues, workplace difficulties, product problems, and corporate responsibility skepticism.
“This year’s report underscores a pivotal shift in the corporate landscape, spotlighting the remarkable adaptability and dedication of the Top 100 companies in responding to the dynamic needs of stakeholders,” states RepTrak CEO Mark Sonders. “The companies featured in our report are not just riding the wave of change; they are the ones steering it, proving that the best approach to business is one that embraces evolution and champions progress.”
RepTrak’s report explores how people thought, felt, and acted toward companies over the past year. Findings include notable increases in Conduct and Citizenship efforts, stakeholders’ rising willingness to invest, culturally resonant brand communications, and ESG Scores that soared despite skepticism around the acronym.
To read the full 2024 Global RepTrak 100 report, please visit: www.reptrak.com/globalreptrak
About RepTrak
The RepTrak™ Company is the world’s leading reputation data and insights company. We help companies by organizing and grading a variety of reputational elements, offering a real-world report card on their corporate reputation. Subscribers to the RepTrak program use our predictive insights to protect business value, improve return on investment, and increase their positive impact on society. RepTrak’s pairing of advanced metrics and dedicated reputation advisors offers clients an actionable analysis of their reputation data, aligning business objectives with stakeholder sentiment across different markets and sectors.
Established in 2004, The RepTrak Company owns the world’s largest reputation benchmarking database, gathering over 1 million company ratings per year used by CEOs, boards, and executives in more than 60 countries worldwide. For more information, please visit: www.reptrak.com
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Artificial Intelligence
Group-IB takes part in a global operation to cripple Canadian Phishing-as-a-Service provider LabHost
SINGAPORE, April 18, 2024 /PRNewswire/ — Group-IB, a leading cybersecurity company aimed at investigating, preventing, and fight digital crime announced today that it participated in a coordinated global takedown operation against prominent Canadian Phishing-as-a-Service (PhaaS) provider LabHost, which has led to the arrest of 37 suspects across the United Kingdom and around the world by law enforcement agencies. As part of the operation, Group-IB also conducted an extensive analysis of LabHost’s criminal history and infrastructure, including insights into LabHost’s administrative platform and the services it provides to its purported user base which exceeds 2,000 subscribers worldwide, who illegally obtained around 480,000 card numbers, 64,000 pin numbers, and over 1 million passwords from victims used for websites and other online services, according to law enforcement agencies.
“By leveraging our Threat Intelligence and Digital Risk Protection, we are able to identify and monitor phishing attacks and websites like those deployed by LabHost and its subscribers around the world, enabling us to actively alert and protect our customers, and in turn, their customers as well,” said Dmitry Volkov, Chief Executive Officer of Group-IB. “Today’s takedown operation demonstrates the agility and responsiveness of our decentralized Digital Crime Resistance Centers, and how quickly we can provide immediate and local assistance wherever our customers may be.”
First uncovered in late 2021, LabHost emerged as a fully automated Phishing-as-a-Service (PhaaS) platform, streamlining the creation of phishing websites meticulously mirroring the interface and functionality of prominent banking, postal, and financial entities, aimed at intercepting, seizing, and profiting from users’ personal, credit card, and online banking credentials. Users are prompted to select from various “membership plans,” tailored to target businesses and individuals in either the United States and Canada, or globally, akin to mobile subscription models. These plans encompass “standard,” “premium,” and “world membership” tiers, priced between US$179 and US$300 monthly, with options for monthly, quarterly, or annual billing cycles.
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