Global Composites Market Key Players, Demands, Trends, Size, Share, Growth Rate and Forecasts to 2028

The global composites market was valued at US$102.75 billion in 2022 and is expected to be worth US$148.08 billion in 2028. The market value is expected to grow at a CAGR of 6.28% during the forecast period of 2023-2028. Composites market is expected to continue to grow as industries look for materials that offer high strength, durability, and lightweight properties. Furthermore, the factors such as growing demand for carbon fiber composites, development of new resin systems and advancements in development technology are expected to drive the market growth in the coming years.

Download a FREE Sample Report at https://www.reportsnreports.com/contacts/requestsample.aspx?name=7016206

The composites market refers to the industry that produces and sells composite materials, which are made by combining two or more materials with different properties to create a new material with enhanced properties. Composites are used in a wide range of industries, including aerospace, automotive, construction, marine, and sports and leisure.

The global composites market is expected to grow significantly in the coming years, driven by factors such as increasing demand for lightweight materials in the aerospace and automotive industries, growing construction activities, and rising demand for renewable energy sources.

The major types of composites include fiber-reinforced composites, matrix composites, and structural composites. Fiber-reinforced composites, such as carbon fiber and glass fiber composites, are the most widely used and are known for their high strength-to-weight ratio. Matrix composites, such as ceramic matrix composites, are used in high-temperature applications due to their ability to withstand high temperatures. Structural composites, such as sandwich panels, are used in applications where high stiffness and strength are required.

The key players in the global composites market are:

Celanese Corporation
DuPont de Nemours, Inc.
Owens Corning
Teijin Ltd.
Toray Industries, Inc.
Huntsman Corporation
Hexcel Corporation
Mitsubishi Chemical Holdings Corporation
Solvay S.A.
China Jushi Co., Ltd.
Kineco Limited
Shanghai Huayuan New Composite Materials Co. Ltd.
Strongwell Corporation

However, the composites market also faces challenges, such as the high cost of raw materials and production processes, and the difficulty of recycling composite materials. In addition, the COVID-19 pandemic has had a significant impact on the composites market, leading to supply chain disruptions and reduced demand in some end-use industries.

Direct Purchase of the Global Composites Market Research Report at https://www.reportsnreports.com/purchase.aspx?name=7016206

Despite these challenges, the composites market is expected to continue to grow in the coming years, driven by the increasing demand for lightweight and high-performance materials in various industries.

+ 1 347 333 3771
sales@reportsandreports.com

ReportsnReports.com is your single source for all market research needs. Our database includes 500,000+ market research reports from over 95 leading global publishers & in-depth market research studies of over 5000 micro markets. With comprehensive information about the publishers and the industries for which they publish market research reports, we help you in your purchase decision by mapping your information needs with our huge collection of reports.

This release was published on openPR.