Composites Market could be worth US$ 88,710.42 Million by 2028, Says Premium Market Insights

Composites Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Fiber Type (Carbon Fiber Composites, Glass Fiber Composites, and Others), Resin Type [Thermoset (Polyester, Vinyl Ester, Epoxy, Polyurethane, and Others) and Thermoplastic (Polypropylene, Polyethylene, Polyvinylchloride, Polystyrene, Polyethylene Terephthalate, Polycarbonate, and Others)], and End-Use Industry (Automotive,) The composites market size is expected to grow from US$ 88,710.42 million in 2022 to US$ 124,185.35 million by 2028; it is estimated to grow at a CAGR of 5.8% from 2022 to 2028.

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Competitive Landscape: Composites Market:
Composite materials are the combination of two materials with different physical and chemical properties. The two components of a composite include a reinforcement and a matrix. The matrix binds the reinforcement together to merge the benefits of both original components. Composites continue to replace traditional materials such as steel and aluminum. Composites are improving the design process and end products across various industries, including aerospace, renewable energy, automotive, and many others. The fiber-reinforced composites such as carbon fiber and fiberglass are opening up new design opportunities for engineers. The global composites market is mainly driven by the increasing demand for lightweight materials from the automotive & aerospace industry. Moreover, the market growth is fueled by a rise in the utilization of glass-fiber composites in various end-use industries. The higher utilization rate of glass fibers in end-use industries such as wind energy, construction, sporting goods, and marine has broadened the scope of glass fiber composites. Wind energy is one of the fastest-growing sectors across the globe and will expand rapidly in the coming years. Wind energy capacity is increasing with the rise in renewable energy infrastructure. Further, the increasing use of composites in the wind energy sector is expected to offer lucrative opportunities for the composites market growth during the forecast period.

DuPont de Nemours Inc
Gurit Holding AG
Hexion Inc
Mitsubishi Chemical Holdings Corp
Nippon Electric Glass Co Ltd
Owens Corning
SGL Carbon SE
Teijin Ltd
Solvay SA
Toray Industries Inc
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Chapter Details of Composites Market:
Part 01: Executive Summary
Part 02: Scope of The Report
Part 03: Composites Market Landscape
Part 04: Composites Market Sizing
Part 05: Composites Market Segmentation by Product
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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This release was published on openPR.