Composites Market Size, Share, Key Growth Drivers, Trends, Challenges and Competitive Landscape
Composites Market Size, Share, Key Growth Drivers, Trends, Challenges and Competitive Landscape
Blog Article
"Composites Market – Industry Trends and Forecast to 2029
Global Composites Market, By Fiber Type (Glass Fiber Composites, Carbon Fiber Composites, Natural Fiber Composites, Others), Product (Carbon, Glass), Resin Type (Thermoset Composites, Thermoplastic Composites), Manufacturing Process (Lay-Up Process, Filament Winding Process, Injection Molding Process, Pultrusion Process, Compression Molding Process, Resin Transfer Molding (RTM) Process, Others), End-Use Industry (Transportation, Aerospace and Defense, Wind Energy, Construction and Infrastructure, Pipe and Tank, Marine, Electrical and Electronics, Others) - Industry Trends and Forecast to 2031.
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Global composites market size was valued at USD 102.64 billion in 2023 and is projected to reach USD 189.99 billion by 2031, with a CAGR of 8.00% during the forecast period of 2024 to 2031. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
**Segments**
- **Resin Type:**
- Thermosetting
- Thermoplastic
- **Fiber Type:**
- Glass Fiber
- Carbon Fiber
- Natural Fiber
- **End-Use Industry:**
- Aerospace & Defense
- Automotive
- Construction
- Electrical & Electronics
The composites market can be segmented based on resin type, fiber type, and end-use industry. In terms of resin type, composites are primarily classified as thermosetting or thermoplastic composites. Thermosetting composites are widely used due to their superior strength and resistance to high temperatures. On the other hand, thermoplastic composites offer advantages in terms of recyclability and processing efficiency. The fiber type segment includes glass fiber, carbon fiber, and natural fiber composites. Carbon fiber composites are witnessing high demand in aerospace and automotive applications due to their exceptional strength-to-weight ratio. Glass fiber composites are extensively used in construction for their affordability and durability. The end-use industry segment covers aerospace & defense, automotive, construction, and electrical & electronics sectors, highlighting the diverse applications of composites across multiple industries.
**Market Players**
- **Hexcel Corporation**
- **Owens Corning**
- **Toray Industries, Inc.**
- **SGL Carbon**
- **Teijin Limited**
- **Mitsubishi Chemical Holdings**
- **Huntsman International LLC**
- **Solvay**
- **BASF SE**
- **3M**
Key market players in the composites industry include Hexcel Corporation, Owens Corning, Toray Industries, Inc., SGL Carbon, Teijin Limited, Mitsubishi Chemical Holdings, Huntsman International LLC, Solvay, BASF SE, and 3M. These companies are actively involved in research and development initiatives to enhance their product portfolios and cater to evolving customer demands. Strategic partnerships, mergers, and acquisitions are common strategies adoptedThe composites industry is witnessing significant growth driven by the demand for lightweight, high-performance materials across various end-use industries. Key market players such as Hexcel Corporation, Owens Corning, and Toray Industries, Inc. are at the forefront of innovation, developing advanced composite materials to meet the stringent requirements of sectors such as aerospace & defense, automotive, construction, and electrical & electronics. Hexcel Corporation, a global leader in advanced composites technology, offers a broad range of thermosetting and thermoplastic composites catering to diverse industry needs. The company's strategic focus on sustainability and product innovation has positioned it as a key player in the composites market.
Owens Corning, known for its expertise in glass fiber composites, plays a vital role in the construction industry by providing durable and energy-efficient solutions. The company's continuous investment in R&D and commitment to sustainability align with the growing trend towards eco-friendly materials in the construction sector. Toray Industries, Inc., a major producer of carbon fiber composites, has a strong presence in the aerospace and automotive markets. Toray's cutting-edge technologies and focus on developing lightweight yet durable materials have solidified its position as a preferred supplier for high-performance applications.
SGL Carbon, a leading manufacturer of carbon-based materials, focuses on serving the aerospace and automotive industries with its advanced carbon fiber composites. The company's emphasis on material innovation and process optimization enables it to deliver tailor-made solutions that meet the stringent quality standards of its customers. Teijin Limited, a Japanese multinational chemical company, specializes in a wide range of thermoplastic composites used in various end-use industries. Teijin's commitment to sustainability and technological advancement underscores its role as a key player in the global composites market.
Mitsubishi Chemical Holdings, Huntsman International LLC, and Solvay are also prominent players in the composites industry, offering a diverse portfolio of composite materials catering to different applications. BASF SE and 3M, known for**Global Composites Market**
- **Fiber Type:**
- Glass Fiber Composites
- Carbon Fiber Composites
- Natural Fiber Composites
- Others
- **Product:**
- Carbon
- Glass
- **Resin Type:**
- Thermoset Composites
- Thermoplastic Composites
- **Manufacturing Process:**
- Lay-Up Process
- Filament Winding Process
- Injection Molding Process
- Pultrusion Process
- Compression Molding Process
- Resin Transfer Molding (RTM) Process
- Others
- **End-Use Industry:**
- Transportation
- Aerospace and Defense
- Wind Energy
- Construction and Infrastructure
- Pipe and Tank
- Marine
- Electrical and Electronics
- Others
The global composites market is experiencing significant growth and is expected to continue expanding, driven by various factors such as the demand for lightweight materials, increased focus on sustainability, and advancements in manufacturing processes. The market segmentation based on fiber types, including glass fiber composites, carbon fiber composites, natural fiber composites, and others, reflects the diverse applications and material preferences across industries. Glass fiber composites, known for their affordability and durability, find extensive usage in construction, while carbon fiber composites, valued for their high strength-to-weight ratio, are favored in aerospace, automotive, and other
Composites Key Benefits over Global Competitors:
- The report provides a qualitative and quantitative analysis of the Composites Market trends, forecasts, and market size to determine new opportunities.
- Porter’s Five Forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make strategic business decisions and determine the level of competition in the industry.
- Top impacting factors & major investment pockets are highlighted in the research.
- The major countries in each region are analyzed and their revenue contribution is mentioned.
- The market player positioning segment provides an understanding of the current position of the market players active in the Personal Care Ingredients
Table of Contents: Composites Market
1 Introduction
2 Global Composites Market Segmentation
3 Executive Summary
4 Premium Insight
5 Market Overview
6 Composites Market, by Product Type
7 Composites Market, by Modality
8 Composites Market, by Type
9 Composites Market, by Mode
10 Composites Market, by End User
12 Composites Market, by Geography
12 Composites Market, Company Landscape
13 Swot Analysis
14 Company Profiles
Critical Insights Related to the Composites Included in the Report:
- Exclusive graphics and Illustrative Porter’s Five Forces analysis of some of the leading companies in this market
- Value chain analysis of prominent players in the market
- Current trends influencing the dynamics of this market across various geographies
- Recent mergers, acquisitions, collaborations, and partnerships
- Revenue growth of this industry over the forecast period
- Marketing strategy study and growth trends
- Growth-driven factor analysis
- Emerging recess segments and region-wise market
- An empirical evaluation of the curve of this market
- Ancient, Present, and Probable scope of the market from both prospect value and volume
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