Business Proposition

Markets and Markets leveraged its engagement model for the identification of opportunities in composites market.  For this purpose, a series of problems were defined that posed as challenges. Further, our team solved these problems, decided use cases and upcoming technologies to focus on for maximizing product potential. A comprehensive view of all the macro and micro factors influencing the trajectory of the stakeholders across the value chain helped us answer following questions-

• Amongst the various type of composites available which type can give us a lucrative opportunity?
• Which type will have the highest preference in future?

Our Approach

For the identification of opportunities in the said market, insights were gained across all interconnected markets of vendors, client’s clients, and their clients. Our AI-driven market intelligence platform was used for gaining these insights. In addition, our team of analysts further expanded the understanding of emerging trends to identify blindspots and upcoming opportunities. Client services included in our engagement model helped with the strategy that can help client tap into USD 40-50 Mn market opportunity.

Revenue Shifts identified

The causes of shifts in revenue sources were identified-

• Bio composites have been growing at a rapid rate over the last few years owing its growing demand due to increased environmental consciousness. Bio composites market was estimated to value at USD 25 billion for the year 2019. Entering this market can help the client to tap into a market opportunity of USD 40-50 million.
• Bacteria cellulose rice straw rice husk natural fibre lignocellulose cellulose and paper sludge are renewable resources owing to many beneficial properties; these materials were used to manufacture composite products. Straw is the most widely available type and is the best example of low-cost reinforcement material.
• Increasing demand for bio composite usage for bathroom interior application. Composites offer considerable added value. Sanitaryware made from this material has warm and pleasant haptic properties too. They do not feel like plastic at all. Larger objects like bathtubs and washbasins up to four metres long can be also be made from them. The sanitaryware is simple to clean and just as easy to repair if this becomes necessary. In a nutshell, modern composites turn drab bathrooms into relaxing wellness oases.
• In the automotive segment bio composite makes the car lighter, renders greater resistance to heat external impact, and improves fuel capacity. Bio composite is used to make auto parts such as carpets lightweight seats body panels front lid and other interior parts. Bioproducts like potatoes and sugarcane hemp etc. are used to make bio composites for the automotive industry.

Interconnections

Insights were offered into interconnected ecosystems-

• Stringent environmental norms especially in western countries lay emphasis on the increased usage of bio composites as they are eco-friendly and easy to be composted.
• Growing infrastructure projects in emerging economies such as China, India, ASEAN countries etc. are responsible to impact the bio composite demand positively.
• The growing recycled paper industry will create opportunities for manufacturing composite structures. These are further used in the construction industry for their stiffness.
• The use of bio-resin is seeing a continuous uptrend in different applications due to growing environmental concerns.

Unknowns Identified

We expanded the understanding of revenue shifts and interconnections for finding blindspots-

• A shift towards Out of Autoclave (OOA) processing is expected to mitigate capital cost cycle time and energy cost.
• Porous fibre mats such as chicken feathers reinforced with polymer composites provide flow channels for various applications including house roof manufacturing. These composites can be used in the development of printed circuit boards (PCBs) due to their essential properties such as mechanical flame retardancy thermal and peel strength.
• Cura fibres composites can yield economic, environmental and social benefits in the automotive industry. It can replace glass fibre and is a small step towards the sustainability of the whole automobile industry.
• Banana fibre is used as a raw material to produce a reinforced composite for household furniture applications and this composite may replace wood plastic and conventional metallic and non-metallic materials to some extent.