Composites Market to Observe Strong Development by 2031 | Hexcel Corporation, SGL Group, Nippon Electric Glass Co. Ltd., Huntsman International LLC.

New York, According to a new market research report published by Global Insight Services Composites Market is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the 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.

Improved manufacturing methods: Various manufacturing methods are being developed and improved to better suit the production of composite materials. These methods include filament winding, pultrusion, and resin transfer molding (RTM).

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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.

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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

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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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About Global Insight Services:

Global Insight Services (GIS) is a leading multi-industry market research firm headquartered in Delaware, US. We are committed to providing our clients with highest quality data, analysis, and tools to meet all their market research needs. With GIS, you can be assured of the quality of the deliverables, robust & transparent research methodology, and superior service.

This release was published on openPR.