Press release
Composites Market Size, Overview by Industry Growth, Applications and Forecast by 2031 | Hexcel Corporation, SGL Group, Nippon Electric Glass Co. Ltd., Huntsman International LLC
Composites Market
Composites are materials that are made up of two or more different substances. The substances are combined in such a way that they create a new material with different properties than the original materials. Composites are often used in applications where the new material has improved strength, stiffness, or durability.
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Key Trends
Composite materials are becoming increasingly popular in a number of industries due to their unique properties and potential advantages over traditional materials. Some of the key trends in composites technology include:
Increased use of composite materials in the aerospace industry: Composite materials are increasingly being used in the aerospace industry due to their high strength-to-weight ratio and resistance to fatigue and corrosion.
Increased use of composite materials in the automotive industry: Composite materials are also being used more frequently in the automotive industry for applications such as body panels, structural components, and exhaust systems.
Development of new composite materials: There is a continuous effort to develop new composite materials with improved properties for specific applications. For example, carbon fiber reinforced plastic (CFRP) is being developed for use in aircraft structures due to its high strength and stiffness.
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Key Drivers
The key drivers of the composites market are high strength-to-weight ratio, low weight, corrosion resistance, and thermal stability. Composites are widely used in the aerospace, automotive, and construction industries because of these properties.
The aerospace industry is the largest user of composites, accounting for more than 50% of the total composites market. The use of composites in aircrafts helps to reduce fuel consumption and emissions.
Market Segments
By Fiber Type
Glass Fiber Composites
Carbon Fiber Composites
Natural Fiber Composites
Other Fiber Composites
By Resin Type
Thermoset Composites
Thermoplastic Composites
Key Players
Owens Corning
Toray Industries Inc.
Teijin Limited
Mitsubishi Chemical Holdings Corporation
Hexcel Corporation
SGL Group
Nippon Electric Glass Co. Ltd.
Huntsman International LLC.
Solvay
Kineco Limited
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Reasons to buy Composites Market Report:
• Develop comprehensive understanding of market landscape - industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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