Global composites market is expected to grow at a formidable rate during the forecast period, 2023-2027. The market growth can be attributed to the rising demand for composites from various end user industries such as automotive and ground transportation, aerospace & defense machinery, electronics & electrical equipment, building & construction, pipe and tank, wind energy, sports & consumer goods, marine industry and many more. Owing to the supreme functional properties exhibited by composites such as high strength & rigidity, light weight, thermal stability and wear & tear resistance, the global composites market is expected to witness robust growth over the coming years. A surge in demand for high-strength materials in the automotive and aerospace industries and technological developments for enhancements in the strength and durability of composites are expected to boost the market growth. Moreover, growing use of composites in the construction and infrastructure sector and their increasing usages in refabrication and retrofit applications are expected to propel the market growth.
The global composites market is segmented on the basis of fiber type, resin type, application, manufacturing process, and region. Based on application, the market is divided into transportation, aerospace & defense, wind energy, electricals & electronics, construction, pipes & tanks, marine and others. The aerospace & defense industry is expected to dominate the global composites market, owing to the increasing adoption of composites in the manufacturing of aircrafts.
Global composites market is controlled by these major players, namely– Toray Industries (Japan), Teijin Limited (Japan) Owens Corning (US), Hexcel Corporation (US), PPG Industries Inc. (US), Huntsman Corporation (US), Cytec Industries (Solvay S.A.) (US), SGL Group (Germany), Momentive Performance Materials, Inc. (US), E. I. Du Pont Nemours & Co. (US), Compagnie De Saint-Gobain (France), Weyerhaeuser Company (US), Chongqing Polycomp International Corporation (China), Jushi Group Co. Ltd. (China), JPS Composite Materials Corporation (US) among others.
| Attribute | Details |
| Base Year | 2021 |
| Historical Years | 2017 – 2020 |
| Estimated Year | 2022 |
| Forecast Period | 2023 – 2027 |
| Quantitative Units | Revenue in USD Million, Volume in Units, and CAGR for 2017-2021 and 2022-2027 |
| Report Coverage | Revenue forecast, volume forecast, company share, competitive landscape, growth factors, and trends |
| Segments Covered | · Fiber Type · Resin Type · Manufacturing Process · Aircraft Type · Application |
| Regional Scope | North America; Asia Pacific; Europe; South America; Middle East & Africa |
| Country Scope | China, India, Japan, South Korea, Indonesia, Rest of APAC, U. S., Canada, Mexico, Rest of North America, Germany, U.K., France, Italy, Spain, Rest of Europe, Saudi Arabia, UAE, Iran, South Africa, South America, Brazil, Colombia, Argentina, Rest of South America |
| Key Companies Profiled | Toray Industries (Japan), Teijin Limited (Japan) Owens Corning (US), Hexcel Corporation (US), PPG Industries Inc. (US), Huntsman Corporation (US), Cytec Industries (Solvay S.A.) (US), SGL Group (Germany), Momentive Performance Materials, Inc. (US), E. I. Du Pont Nemours & Co. (US), Compagnie De Saint-Gobain (France), Weyerhaeuser Company (US), Chongqing Polycomp International Corporation (China), Jushi Group Co. Ltd. (China), JPS Composite Materials Corporation (US) |
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