Composites Market Business Share, Segmentation, Analysis, Future Plans and Forecast 2029

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 Report Scope and Research Methodology

Report Scope:

The report offers an extensive understanding of the Composites Market through in-depth analysis, market dynamics, and regional insights. It provides valuable insights into market drivers, restraints, and more.

Research Methodology:

Employing a comprehensive research methodology, the report ensures a thorough market analysis, forecasting, and examination of key factors, enabling informed decision-making.

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What are Composites Market Dynamics?

Industries like automotive, defense, marine, and construction product manufacturers are shifting their focus towards lightweight products and components to reduce product weight, enhance fuel efficiency, and meet global environmental norms and CO2 emission regulations. Composites' essential attributes, including durability, resistivity, and exceptional insulation, position them as a preferred choice over traditional materials in a wide range of end-use applications.

Composites are fabricated by combining various raw materials, such as silicon, polyamide, polyurethane, and others, making them an integral part of applications like construction, coatings, and adhesives. This surge in demand for raw materials is driving the growth of the composites market.

The Composites market continues its upward trajectory, with the automotive and aerospace sectors playing pivotal roles. The growing awareness of environmental concerns, including carbon emissions and global warming, along with the adoption of pollution control regulations by governments worldwide, contribute to the market's growth.

However, the high initial cost of composites presents a challenge. Nevertheless, leading players are actively engaged in research and development activities to produce cost-effective composites with similar properties, expected to bolster market growth in the coming years.

Composites Market Segmentation?

Composites Market Segment Analysis:

Fiber Type: The Composites Market encompasses three key segments: Glass Fiber Composites, Carbon Fiber Composites, and Natural Fiber Composites. In 2022, the Glass Fiber Composites segment secured the largest market share, accounting for 62%. Glass fiber composites are preferred in industries such as Automotive, electrical and electronics, construction, transportation, and wind energy due to their superior properties including strength, lightweight, durability, and weather resistance.

The Carbon Fiber Composites segment is poised for significant growth at a CAGR of 5.9% during the forecast period, boasting advantages like low thermal expansion, high-temperature tolerance, chemical resistance, and stiffness.

Composites Market by End-Use:

The Composites Market encompasses various end-use sectors, including Automotive & Transportation, Aerospace & Defense, Wind Energy, Electrical & Electronics, Construction & Infrastructure, Pipes & Tanks, Marine, and Others. In 2022, the Automotive & Transportation segment commanded the largest market share, accounting for 24%. The demand for lightweight vehicle materials in the automotive sector to improve fuel efficiency and meet environmental regulations is a key driver. Electric vehicles (EVs) further boost demand for composites.

The Aerospace & Defense segment is set to grow at a remarkable CAGR of 6.73%. Composites' lightweight, safety, reliability, stealth, and aerodynamic properties are invaluable for the production of aerospace and defense components.

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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.

Table of content for the Composites Market includes:

Part 01: Executive Summary

Part 02: Scope of the Composites Market Report

Part 03: Global Composites Market Landscape

Part 04: Global Composites Market Sizing

Part 05: Global Composites Market Segmentation by Type

Part 06: Five Forces Analysis

Part 07: Customer Landscape

Part 08: Geographic Landscape

Part 09: Decision Framework

Part 10: Drivers and Challenges

Part 11: Market Trends

Part 12: Vendor Landscape

Part 13: Vendor Analysis

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Regional Insights:

Asia Pacific: With a commanding 41% market share in 2022, the Asia Pacific region leads the Composites Market. The region's robust demand from industries such as automotive & transportation, aerospace & defense, electrical & electronics, and construction & infrastructure fuels market growth. Major economies like China, Japan, and India are driving the market.

North America: Poised for a substantial CAGR of 7.10% during the forecast period, North America's growth is attributed to increased demand for composites in the automotive and aerospace industries. In the United States, more than 50% of new Airbus aircraft under the A350XWB line-up are composed of composites.

Key Offerings:

Past Market Size and Competitive Landscape (2018 to 2021)
Past Pricing and price curve by region (2018 to 2021)
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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