COVID-19 Impact on Composites Market to Witness Huge Growth by Key Players: Owens Corning, Toray Industries, Inc, Teijin Limited, Mitsubishi Chemical Holdings Corporation, Hexcel Corporation, SGL Group, Nippon Electrical Glass Co. Ltd, Huntsman Internatio

According to Market Study Report, Composites Market provides a comprehensive analysis of the Composites Market segments, including their dynamics, size, growth, regulatory requirements, competitive landscape and emerging opportunities of global industry. This report also provides market landscape and market share information in the Composites Market. An exclusive data offered in this report is collected by research and industry experts team.

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The Global Composites Market size is projected to decline from USD 90.6 Billion in 2019 to USD 82.9 Billion by 2021, at a negative CAGR of 4.4% between 2019 and 2021. This report spread across 75 pages, profiling 10 companies and supported with 47 tables and 22 figures are now available in this research.

Top Key Players Profiled in the Composites Market:
o Owens Corning (US)
o Toray Industries, Inc. (Japan)
o Teijin Limited (Japan)
o Mitsubishi Chemical Holdings Corporation (Japan)
o Hexcel Corporation (US)
o SGL Group (Germany)
o Nippon Electrical Glass Co. Ltd. (Japan)
o Koninklijke Ten Cate bv. (Netherlands)
o Huntsman International LLC. (US)
o Solvay (Belgium)

"Natural fiber composites are the fastest-growing fiber type of composites market in terms of value."
Natural fiber composites are projected to register the highest CAGR in terms of value between 2019 and 2021.Natural fibers, such as flax, hemp, jute, and kenaf, along with a polymer matrix, such as polypropylene, epoxy, polyethylene, or polyesters, form the natural fiber composite.

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"Thermoplastic composites is the fastest-growing resin type of composites, in terms of value."
Thermoplastic composites are the fastest-growing resin type. The thermoplastic composites are easy to remold, and reform and hence can be reused. Thus, the companies are investing in R&D for the mass production of thermoplastic composites to reduce its cost. However, continuous lockdown in the US, Spain, Italy, India, and other countries has paused the production of automobiles, aircraft parts, wind blades, and other components, which have affected adversely to the composite manufacturers and might reduce the demand for composites from various end-use industries.

"Wind energy is the fastest-growing end-use industry of composites, in terms of value."
The wind energy end-use industry is expected to register the highest CAGR during the forecast period. The use of composites in wind turbines provides high tensile strength, helping manufacturers to achieve larger blades and higher energy output. Due to its corrosion resistance properties, composites have helped the wind industry to grow by allowing wind turbines to work in the harshest environments. Due to COVID-19, there is partial production in various wind blade manufacturing facilities.

Breakdown of primary participants' profile:
o By Company Type - Tier 1- 40%, Tier 2- 33%, and Tier 3- 27%
o By Designation - C Level- 50%, Director Level- 20%, and Others- 30%
o By Region - North America- 20%, Europe- 50%, APAC- 15%, Latin America-5%, MEA-10%,

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Reason to access this report:
The report will help market leaders/new entrants in this market by providing them with the closest approximations of the revenues for the overall composites market and the sub-segments. This report will help stakeholders to understand the competitive landscape and gain more insights and position their businesses and market strategies in a better way. The report will also help stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.

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