Press release
Composites Market was volume at 13.39 Million Tonnes in 2022. Global Composites Market Volume is estimated to grow at a CAGR of 3.67%.
Composites Market
The Global Composites Market is experiencing substantial growth, with the market volume reaching 13.39 Million Tonnes in 2022 and an estimated CAGR of 3.67%. Composites, which are materials composed of two or more elements with distinct physical or chemical properties, offer exceptional qualities such as strength, durability, and reduced weight compared to traditional materials. The report encompasses an in-depth analysis of the market's dynamics, key drivers, restraints, and regional insights, providing a comprehensive understanding of the industry landscape.
The report's findings are based on a rigorous research methodology that combines extensive data collection, analysis, and interpretation. A thorough assessment of market trends, industry experts' insights, and relevant data sources has been conducted to ensure the accuracy and reliability of the information presented in the report.
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What are Composites Market Dynamics?
The adoption of composites in various industries such as automotive, defense, and construction is driven by the need for lightweight, durable, and environmentally friendly materials. Composites' unique properties, including high strength and insulation, make them an ideal choice for addressing global environmental concerns and regulatory standards. However, the initial cost of composites remains a challenge. Industry leaders are actively investing in research and development to create cost-effective composites with comparable properties, potentially overcoming this hurdle.
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What is Composites Market Regional Insight?
Asia Pacific Leads: The Asia Pacific region dominated the market with a 41% share in 2022. Growing demand in industries like automotive, aerospace, and electronics in countries such as China, Japan, and India has propelled the region's composites market.
North America's Growth: North America is anticipated to experience significant growth with a projected CAGR of 7.10%. The demand for composites in the automotive and aerospace sectors has driven this growth. Notably, over 50% of new airbus aircraft in the U.S. are composed of composites, showcasing the industry's significance.
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What is Composites Market Segmentation?
by Fiber Type
Glass Fiber Composites
Carbon Fiber Composites
Natural Fiber Composites
by Resin Type
Thermoset Composites
Thermoplastic Composites
by Manufacturing Process
Layup Process
Filament Winding Process
Injection Molding Process
Pultrusion Process
Compression Molding Process
Resin Transfer Molding Process
Others
by End-User
Automotive & Transportation
Aerospace & Defense
Wind Energy
Electrical & Electronics
Construction & Infrastructure
Pipes & Tanks
Marine
Others
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Who are Composites Market Key Players?
1. Teijin Limited
2. Toray Industries
3. Owens Corning
4. PPG Industries
5. Huntsman Corporation
6. Hexcel Corporation
7. E. I. DuPont Nemours & Co.
8. Faurecia
9. Performance Composites Inc.
10. Enduro Composites
11. APPLIED POLERAMIC INC.
12. KINECO
13. Creative Composites Ltd.
14. HITCO Carbon Composites
15. Quadrant Group of Companies
16. BGF Industries
17. FACC AG
18. Premium Aerotec
19. Fokker Aerostructures
20. COTESA GmbH
21. Wethje Carbon Composites
22. VELLO NORDIC AS
23. Fiberdur GmbH & Co. KG
24. Akiet B.V.
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Key Offerings:
• Past Market Size and Competitive Landscape (2018 to 2022)
• Past Pricing and price curve by region (2018 to 2022)
• Market Size, Share, Size & Forecast by different segment | 2022-2029
• Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
• Market Segmentation - A detailed analysis by Product
• Competitive Landscape - Profiles of selected key players by region from a strategic perspective
• Competitive landscape - Market Leaders, Market Followers, Regional player
• Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER's analysis
• Value chain and supply chain analysis
• Legal Aspects of business by region
• Lucrative business opportunities with SWOT analysis
• Recommendations
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About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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