Rail Composites Market worth $2.4 billion by 2028 - Exclusive Report by MarketsandMarkets™
Mar 29, 2024
CHICAGO, March 29, 2024 /PRNewswire/ -- The report "Rail Composites Market by Fiber Type (Glass Fiber, Carbon Fiber), Resin Type (Polyester, Phenolic, Epoxy, Vinyl Ester), Manufacturing Process (Lay-up, Injection Molding, Compression Molding, RTM), Application, & Region - Global Forecast to 2028", Rail Composites Market is estimated at USD 1.7 billion in 2023 and is projected to reach USD 2.4 billion by 2028, at a CAGR of 7.2% from 2023 to 2028. A composite is manufactured by physically combining two or more materials (components) to produce a blend of structural properties do not present in any individual component. Composite those are used in rail interior, exterior, and other components are considered as rail composite. The rail composites market is mainly dominated by glass composites. The market of carbon composite is significantly smaller than that of glass composite, which is the main reason for its oligopolistic market structure. Browse in-depth TOC on "Rail Composites Market". 239 – Tables 64 – Figures217 – Pages Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=160525988 "The Phenolic resin segment accounted for the largest market share in 2022, in terms of value." Phenolic resin segment dominated the rail composites market in 2022, in terms of value. Phenolic resins help to reduce overall weight which turns, allows for high speeds, lower wear, decreased track load, and reduced maintenance cost of tracksides. Phenolic resin composites are resistant to environmental degradation and fatigue damage compared to other metals. Phenolic resin composites are easily moldable and can be used in various rail applications. "The carbon fiber segment accounted for the second-largest market share in 2022, in terms of value." In terms of value, carbon fiber accounted for second-largest share of the reinforcements used in rail composite consumption, globally. Carbon fiber composites are high-cost materials used in higher strength applications in the rail industry as they are comparatively ...Full story available on Benzinga.com
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