Composites Market worth $126.3 billion by 2026 | Key players Owens Corning, Toray Industries, Teijin Limited, Hexcel Corp, SGL Group

According to recent market research "Composites Market by Fiber Type (Glass Fiber Composites, Carbon Fiber Composites, Natural Fiber Composites), Resin Type (Thermoset Composites, Thermoplastic Composites), Manufacturing Process, End-use Industry and Region - Global Forecast to 2026", The global composites market size is projected to reach USD 126.3 billion by 2026, registering a CAGR of 7.5% from 2021 to 2026. The global composites market size is expected to grow from USD 88.0 billion in 2021 to USD 126.3 billion by 2026, at a CAGR of 7.5% during the forecast period. The composites industry is growing due to the increase in the demand for high performance materials with properties such as high strength to weight ratio, good tensile strength, electrical conductivity among others.

Browse 236 market data Tables and 65 Figures spread through 308 Pages and in-depth TOC on "Composites Market - Global Forecast to 2026"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/composite-market-200051282.html

Glass fiber composites comprise a major share of the composites market in terms of value and volume.

The glass fiber composites have superior attributes, such as strength, flexibility, durability, stability, lightweight, and resistance to heat, temperature, and moisture. Owing to its properties, glass fiber is used in different end-use industry segments, such as construction, wind, pipe & tanks, marine, and transportation. There is a high demand for glass fiber composites from the wind energy and construction & infrastructure industries. And it is expected to decline due to lockdown resulting in reduced wind capacity installations and the temporary suspension of operations in the automotive, aerospace, and construction industries.

The thermoset composites accounted for the largest market share in the global composites market during the forecast period in terms of value and volume.

In thermoset composites, thermoset resin is used as a matrix with fibers, including glass fiber, carbon fiber, natural fiber, and others. Currently, thermoset resins are widely used for manufacturing composites, as when uncured, they are in liquid state at room temperatures. This unique property of thermoset resin allows for the convenient impregnation of reinforcing fiber. But, because of the lockdown situation occurred due to COVID-19, many floor workers were unable to work in manufacturing facilities, which was resulted in the reduction in output of several resins, such as epoxy resins. Thus, the demand for thermoset resins was declined in 2020.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=200051282

Companies operating in the composites market have strengthened their position in the global composites market by adopting expansions, partnerships, agreements, new product/technology launches, joint ventures, contracts, and mergers & acquisitions from 2016-2021. However, the novel coronavirus pandemic has created ripples across the global aerospace & defense, automotive & transportation, wind energy, and many other sectors, affecting the global supply chains. These factors have affected the demand for composites. The demand is expected to recover bounce and picking up momentum by 2021.

The major composite manufacturers are Owens Corning (US), Toray Industries, Inc. (Japan), Teijin Limited (Japan), Mitsubishi Chemical Holdings Corporation (Japan), Hexcel Corporation (US), SGL Group (Germany), Nippon Electric Glass Co. Ltd. (Japan), Huntsman International LLC. (US), and Solvay (Belgium), among others. These companies have adopted various organic and inorganic growth strategies.

For more Details Speak to Our Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=200051282

Owens Corning is an American multinational corporation headquartered in Toledo, Ohio, US. It manufactures a broad range of roofing, insulation, and fiberglass composite materials. The products of Owens Corning are used in various applications such as sporting goods, consumer electronics, boats, aircraft, defense, wind energy, construction, roofing, and pipes. It offers composites as a product of its fiberglass composite business. The company primarily offers residential and commercial building materials, glass-fiber reinforcements, and engineered materials for composite systems.

Toray Industries, Inc. is a multinational corporation specializing in industrial products involving core technologies in organic synthetic chemistry, polymer chemistry, and biochemistry. The company, currently, is the largest producer of carbon fiber in the world and synthetic fiber in Japan. It operates through six business segments: fibers and textiles, performance chemicals, carbon fiber composite materials, environment and engineering, life science, and other businesses. The company conducts its composite business through the composite materials business segment, wherein it offers a broad range of carbon fibers, carbon fiber composite materials, and related molded products.

Contact:

Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441
Email: newsletter@marketsandmarkets.com
Press Release: https://www.marketsandmarkets.com/PressReleases/composite.asp
Research Insights: https://www.marketsandmarkets.com/ResearchInsight/composite-market.asp

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, and strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

This release was published on openPR.