The Composites Market was volume at 12.92 Million Tonnes in 2021. Global Composites Market Volume is estimated to grow at a CAGR of 3.67%.
Market Overview
The Composites industry research provided a comprehensive analysis of the worldwide Composites Market, taking into account all critical variables such as growth factors, limitations, market advancements, top investment pockets, future prospects, and trends. The research begins by emphasizing the important trends and possibilities that may develop in the near future and have a favorable influence on overall industry growth.
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Market Scope
The Composites Market report includes a comprehensive analysis of major players in the market, application, and geographic conditions to help identify key competitors both locally and globally. The report also covers the investment options available in the micro market to investors, along with a comprehensive analysis of the competitive landscape and key products the companies offer.
Composites Market report provides in-depth knowledge and understanding of trends, dynamics, restraints, and opportunities. Research identifies the most important trends that will impact business operations. It helps to identify the information included in the research that determines the competitive landscape of key companies, the factors affecting the market size and volume, and other aspects that can help to determine the current marketing plan. SWOT analysis was done to find the strengths and weaknesses of the market.
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Segmentation
Based on fiber type, the composites market is segmented into glass fiber composites, carbon fiber composites, and natural fiber composites. The fiberglass composite segment held the largest market share at 62% in 2021. Growth in this segment is due to increased demand for products from the automotive, electrical and electronic, construction, transportation, and wind energy industries. Glass fiber composites possess excellent properties such as high strength, light weight, high durability and good weather resistance, which drive demand for their products in multiple end-use industries.
In the United States, the fiberglass industry is moderately consolidated, with major companies such as Owens Corning, Nippon Electric Glass, CPIC and Johnsmanville accounting for more than 50% of his total composites production value. The major end users of optical fiber in the US are the transportation, construction and pipe and tank sectors, accounting for 69% of total consumption.
The carbon fiber composites segment is expected to grow significantly at a CAGR of 5.9% during the forecast period. In general, carbon fiber composites consist of carbon atoms bonded in crystals aligned parallel to the fibers. It has several beneficial properties such as low thermal expansion, high temperature resistance, chemical resistance and high stiffness. These factors are expected to propel the growth of the composite materials market in this segment. Based on end use, the composite materials market is segmented into Automotive & Transportation, Aerospace & Defense, Wind Energy, Electrical & Electronics, Construction & Infrastructure, Pipes & Tanks, Marine, and Others. The automotive and transportation sector held the largest market share at 24% in 2021. Automakers around the world are looking for lightweight vehicle materials that deliver high fuel efficiency and meet standards and regulations related to environmental concerns and low CO2 emissions. In addition, composite materials are widely used to manufacture various components and parts of electric vehicles (EVs), battery cases, and storage tanks. Rising demand for electric vehicles (EVs) during the forecast period is also expected to increase the demand for composite materials from the automotive and transportation sectors.
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Key Players
• Teijin Limited
• Toray Industries
• Owens Corning
• PPG Industries
• Huntsman Corporation
• Hexcel Corporation
• E. I. DuPont Nemours & Co.
• Faurecia
• Performance Composites Inc.
• Enduro Composites
• APPLIED POLERAMIC INC.
• KINECO
• Creative Composites Ltd.
• HITCO Carbon Composites
• Quadrant Group of Companies
• BGF Industries
• FACC AG
• Premium Aerotec
• Fokker Aerostructures
• COTESA GmbH
• Wethje Carbon Composites
• VELLO NORDIC AS
• Fiberdur GmbH & Co. KG
• Akiet B.V.
Regional Analysis
Europe, North America, Asia-Pacific, the Middle East and Africa, and Latin America are the regions that make up the Composites market growth. Every region has different factors such as political, geographic, economic, etc. which are affecting the Composites market. Local and regional development plans are often affected by the performance of the Composites market. The reports help in planning the market strategies which are suitable and appropriately applicable according to specific countries and regions in the market.
Key Questions answered in the Composites Market Report are:
- What is Composites Market?
- What is the forecast period of the Composites Market?
- What is the competitive scenario of the Composites market?
- Which region held the largest market share in the Composites Market?
- What are the opportunities for the Composites Market?
- What factors are affecting the Composites market growth?
- Who are the key players of the Composites market?
- Which company held the largest share in the Composites market?
- What will be the CAGR of the Composites market during the forecast period?
- What key trends are likely to emerge in the Composites market in the coming years?
Key offerings:
- Market Share, Size, and Forecast by Revenue|2022-2029
- Market Dynamics- Growth drivers, Restraints, Investment Opportunities, and key trends
- Market Segmentation: A detailed analysis byComposites
- Landscape- Leading key players and other prominent key players.
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