Gurit Holdings AG (Switzerland) and Hexcel Corporation (US) are Leading players in the Rail Composites Market
The rail composites market is projected to grow from USD 1.7 billion in 2023 to USD 2.4 billion by 2028, at a CAGR of 7.2% during the forecast period. The rail composites market is showing significant growth due to its increasing penetration and growing demand from various rail applications, such as interior components, exterior components, structural components and many other applications. Asia Pacific, Europe and North America are the major markets for rail composites.
Some major manufacturers operating in the rail composites market are Gurit Holdings AG (Switzerland), Hexcel Corporation (US), 3A Composites (Switzerland), Toray Industries, Inc. (Japan), Solvay (Belgium), Teijin Limited (Japan), Premier Composite Technologies (UAE), Dartford Composites Ltd. (UK), Exel Composites (Finland), Avient Corporation (US), Kineco Limited (India), BASF SE (Germany), AVIC Cabin Systems (UK), BFG International (Bahrain), and Reliance Industries Ltd. (India).
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Many major players have been getting involved and adopting various growth strategies aiming to strengthen the position in the global rail composites market. Various growth strategies include product launches, expansions, contracts, mergers and acquisitions, partnerships that will help companies to expand their competitiveness and market presence in the global rail composites market.
Gurit Holdings AG (Switzerland)
Gurit Holding is specialized in the development and manufacturing of advanced composite materials, related technologies, and select finished parts and components. The company is one of the leading global suppliers of advanced composite materials. The operations of the company are managed under two business units, which include composites system & engineering and composite materials.
The company offers a diverse product range, which includes fiber reinforced prepregs, structural core products (man-made materials and balsa wood), gel coats, adhesives, resins, and consumables. Gurit has a global presence with offices, manufacturing sites, and distribution networks across various regions including Europe, North and South America, the Middle East, China, New Zealand, Australia, and India.
Hexcel Corporation (US)
Hexcel Corporation is one of the leading manufacturers of advanced composites. The company develops, manufactures, and markets lightweight, high-performance structural materials, including carbon fibers, reinforcements for composites, prepregs, honeycomb, matrix systems, adhesives, and composite structures. These products have applications in the aerospace, defense, automotive, and industrial sectors.
The company manages its business through two business units including composites materials and engineered products. The company manages its rail composites business under the industries solutions segment.
The company has manufacturing facilities in regions such as North America, Europe, and Asia Pacific. It operates through more than 22 manufacturing locations globally.
Related Reports:
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
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