Press release
Transportation Composites Market Report: Trends, Production, Revenue, Growth And Forecast To 2033
Transportation Composites Market
The Business Research Company presents an extensive market research report on the Transportation Composites Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The transportation composites market size has grown rapidly in recent years. It will grow from $64.02 billion in 2023 to $70.46 billion in 2024 at a compound annual growth rate (CAGR) of 10.1%. The growth in the historic period can be attributed to automotive industry growth, weight reduction demands, fuel efficiency goals, safety and crash performance, cost reduction initiatives, advancements in raw materials, increased production efficiency, infrastructure development..
The transportation composites market size is expected to see rapid growth in the next few years. It will grow to $104.09 billion in 2028 at a compound annual growth rate (CAGR) of 10.2%. The growth in the forecast period can be attributed to stricter emission standards, urbanization and infrastructure needs, emerging market opportunities, biocomposites adoption, government r&d funding, rising consumer preferences.. Major trends in the forecast period include recyclability and sustainability, integration of smart materials, strategic partnerships and collaborations, resin matrix advancements..
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Key Market Players:
Major companies operating in the transportation composites market report are Hexcel Corporation, Mitsubishi Chemical Holdings Corporation, Owens Corning, Toray Industries Inc., Teijin Limited, Solvay S.A., Jushi Group Co. Ltd., SGL Carbon SE, Gurit Holding AG, Koninklijke DSM N.V., Huntsman Corporation LLC, DuPont de Nemours Inc., China Jushi Co. Ltd., Weyerhaeuser Company, Momentive Performance Materials Inc., Veplas Group, B&T Composites SA, Champion Fiberglass Inc., Compotech Inc., Creative Composites Group, GSE Dynamics Inc., Middle River Aerostructures Systems, Nammo Composite Solutions LLC, Shellback Canvas LLC, 3M Company, BASF SE, Henkel AG & Co. KGaA, Saudi Basic Industries Corporation, Arkema S.A., Evonik Industries AG
Market Drivers:
The growing automotive industry is driving the growth of the transportation composites market. The automotive industry is engaged in the design, development, marketing, and sale of automobiles. The increasing income and standard of living have led to increased demand for automobiles. Automobiles employ transportation composites for excellent strength and weight reduction of vehicles. For instance, according to a study released by the European Automobile Manufacturers Association in April 2022, 79.1 million automobiles were produced globally in 2021, rising 1.3% from the previous year. Therefore, the increasing demand for automobiles is expected to propel the growth of the transportation composites market.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/transportation-composites-global-market-report
The transportation composites market covered in this report is segmented -
1) By Resin: Thermoset, Thermoplastic
2) By Material Type: Glass Fiber, Natural Fiber, Carbon Fiber Composite, Aramid Fiber
3) By Manufacturing Process: Compression Molding, Injection Molding, Resin Transfer Molding, Other Manufacturing Processes
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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