Composite Materials Research:CAGR of 8.36% during review period

QY Research Inc. (Global Market Report Research Publisher) announces the release of 2024 latest report "Composite Material- Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030". Based on current situation and impact historical analysis (2019-2023) and forecast calculations (2024-2030), this report provides a comprehensive analysis of the global Wire Drawing Dies market, including market size, share, demand, industry development status, and forecasts for the next few years.



A material made up of two or more constituent materials possessing varied physical or chemical properties and is different from individual components is known as a composite material. These composites are highly used in aerospace and defense, transportation, and wind energy applications. Hence, comprehensive testing is carried out on these materials with specific standards known as composite testing. Composite testing is widely used in aerospace & defense sector to evaluate the performance and structural applications. Major commercial aircraft manufacturers such as Airbus and Boeing have developed aircraft such as Airbus A350 and Boeing 787 that constitute almost 50% of the composites in their airframe structures. Aviation giants such as National Aeronautics and Space Administration (NASA) and SpaceX widely use composite testing due to resistance fatigue & corrosion and high stiffness-to-weight ratio.



【Get a free sample PDF of this report (Including Full TOC, List of Tables & Figures, Chart)】

https://www.qyresearch.com/reports/2331299/composite-material



Composite Materials Market Summary

Composite materials are engineered materials composed of two or more distinct components that have significantly different physical or chemical properties that remain independent at a macroscopic level. Composites are designed to optimize specific properties for specific applications, such as high strength-to-weight ratios, stiffness, corrosion resistance, wear resistance, and thermal stability. Because they can tailor performance characteristics to their intended use, they are used in a wide range of industries, including aerospace, automotive, construction, sports equipment, and electronics.

According to the new market research report "Global Composite Materials Market Report 2024-2030", published by QYResearch, the global Composite Materials market size was valued at US$ 98.11 billion in 2023 and is forecast to a readjusted size of USD 166.84 billion by 2030 with a CAGR of 8.36% during review period.

Global Composite Materials MarketSize(US$ Million), 2024-2030
241209-172120.webp (11 KB)

Above data is based on report from QYResearch: Global Composite Materials Market Report 2024-2030 (published in 2024). If you need the latest data, plaese contact QYResearch.



Manufacturing Cost Structure Analysis of Composite Materials
241209-172142.webp (11 KB)

Above data is based on report from QYResearch: Global Composite Materials Market Report 2024-2030 (published in 2024). If you need the latest data, plaese contact QYResearch.

The raw materials include direct material, like raw materials, accessory material and packing materials.

Carbon fiber is a major raw material widely used in composite manufacturing and is often combined with a resin matrix to produce composites used in high-performance applications such as aerospace, automotive, sporting goods and construction. Glass fiber is another important reinforcement material that offers excellent performance and cost-effectiveness. It consists of fine glass filaments woven, braided or cut into various forms and is used to reinforce the resin matrix in composite structures. Resins play a vital role in composites by binding the reinforcement fibers together and providing the shape and properties of the final composite.

Direct Labor Costs includes the cost in the production line, like wages and welfare.

Manufacturing expenses includes a lot of items, like the depreciation costs for the equipment, plants, staff dormitories and storehouses, etc. Also include the energy costs like water and electricity, industrial gas and steam, as well as expenses like Safety and Health, low-value consumables and spare parts, sporadic materials.

Composite Materials Sales Region
241209-172208.webp (28 KB)

Based on or includes research from QYResearch: Global Composite Materials Market Report 2024-2030.

Emerging markets, especially Asia Pacific, are increasingly adopting composites in industries such as construction, automotive, and wind energy due to rapid industrialization and infrastructure development. The Asia Pacific composites market size was $44,872 million in 2023 and is expected to grow to $81,186 million by 2030.

Market Drivers:

Composite materials are valued for their lightweight and high-strength properties, which help improve product performance in automotive and aerospace applications. Especially in the field of electric vehicles, the application of composite materials can significantly reduce vehicle weight and extend cruising range.
The renewable energy industry, especially wind energy, is a major consumer of composite materials used to manufacture wind turbine blades. Composites provide the necessary strength, flexibility, and corrosion resistance for large turbine blades, which must withstand extreme environmental conditions. The global push to adopt renewable energy continues to drive the composites market.
Composites are increasingly used in infrastructure, especially in bridge construction, offshore structures, and buildings, due to their durability, corrosion resistance, and ease of maintenance. These materials have a longer service life and lower maintenance costs, which makes them attractive for infrastructure projects around the world.
Restraint:

Composites, especially thermoset composites, are difficult to recycle due to their cross-linked molecular structure, which makes them difficult to reprocess and reuse. Disposal is a significant issue, especially for industries such as automotive and aerospace that must meet strict environmental regulations. Limited recycling options hinder the sustainability of composites and affect demand in environmentally friendly markets.
Composites, especially high-performance composites such as carbon fiber, are expensive to produce compared to traditional materials such as steel and aluminum. The raw materials, manufacturing processes, and specialized equipment involved in composite production make these materials expensive, limiting their affordability and use, especially for cost-sensitive industries.
Composites are difficult to repair once damaged because they do not undergo the same deformation modes as metals. This makes repairs more complex and expensive, especially for high-value applications such as aerospace and automotive, where structural integrity is critical.






The report provides a detailed analysis of the market size, growth potential, and key trends for each segment. Through detailed analysis, industry players can identify profit opportunities, develop strategies for specific customer segments, and allocate resources effectively.



The Composite Material market is segmented as below:

By Company

Element Materials Technology
Henkel AG & CO
KGaA
Exova Group plc
Westmoreland Mechanical Testing & Research Inc
Instron
Matrix Composite Inc
ETIM Composites Testing Laboratory
Mistras Group Inc
Intertek Group plc



Segment by Type

Polymer Matrix Composites
Continuous Fiber Composites
Ceramic Matrix Composites
Discontinuous Fiber Composites
Others



Segment by Application

Sporting Goods
Aerospace & Defense
Electrical & Electronics
Wind Energy
Building & Construction
Transportation
Others



Each chapter of the report provides detailed information for readers to further understand the Composite Material market:

Chapter 1: Introduces the report scope of the Composite Material report, global total market size (valve, volume and price). This chapter also provides the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry. (2019-2030)

Chapter 2: Detailed analysis of Composite Material manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc. (2019-2024)

Chapter 3: Provides the analysis of various Composite Material market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments. (2019-2030)

Chapter 4: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.(2019-2030)

Chapter 5: Sales, revenue of Composite Material in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the market development, future development prospects, market space, and market size of each country in the world..(2019-2030)

Chapter 6: Sales, revenue of Composite Material in country level. It provides sigmate data by Type, and by Application for each country/region.(2019-2030)

Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc. (2019-2024)

Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.

Chapter 9: Conclusion.



Benefits of purchasing QYResearch report:

Competitive Analysis: QYResearch provides in-depth Composite Material competitive analysis, including information on key company profiles, new entrants, acquisitions, mergers, large market shear, opportunities, and challenges. These analyses provide clients with a comprehensive understanding of market conditions and competitive dynamics, enabling them to develop effective market strategies and maintain their competitive edge.

Industry Analysis: QYResearch provides Composite Material comprehensive industry data and trend analysis, including raw material analysis, market application analysis, product type analysis, market demand analysis, market supply analysis, downstream market analysis, and supply chain analysis.

and trend analysis. These analyses help clients understand the direction of industry development and make informed business decisions.

Market Size: QYResearch provides Composite Material market size analysis, including capacity, production, sales, production value, price, cost, and profit analysis. This data helps clients understand market size and development potential, and is an important reference for business development.



Other relevant reports of QYResearch:

Global Composite Material Market Insights, Forecast to 2030
Global Composite Material Market Research Report 2024
Global Composite Materials Market Insights, Forecast to 2030
Global Composite Materials Market Research Report 2024
Global Bio-Composite Material Market Insights, Forecast to 2030
Global C-C Composite Material Market Insights, Forecast to 2030
Global Bio-Composite Material Market Research Report 2024
Global C-C Composite Material Market Research Report 2024
Global PTFE Composite Material Market Insights, Forecast to 2030
Global and United States PTFE Composite Material Market Report & Forecast 2024-2030
PTFE Composite Material- Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030
Global PTFE Composite Material Market Research Report 2024
Global FRP Composite Materials Market Insights, Forecast to 2030
Global PEEK Composite Material Market Insights, Forecast to 2030
Global Boat Composite Material Market Insights, Forecast to 2030
Global CNT Composite Materials Market Insights, Forecast to 2030
Global CNT Composite Materials Market Research Report 2024
CNT Composite Materials - Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030
Global and United States CNT Composite Materials Market Report & Forecast 2024-2030
Boat Composite Material - Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030

About Us：

QYResearch founded in California, USA in 2007, which is a leading global market research and consulting company. Our primary business include market research reports, custom reports, commissioned research, IPO consultancy, business plans, etc. With over 17 years of experience and a dedicated research team, we are well placed to provide useful information and data for your business, and we have established offices in 7 countries (include United States, Germany, Switzerland, Japan, Korea, China and India) and business partners in over 30 countries. We have provided industrial information services to more than 60,000 companies in over the world.

Contact Us:
If you have any queries regarding this report or if you would like further information, please contact us:
QY Research Inc.
Add: 17890 Castleton Street Suite 369 City of Industry CA 91748 United States
EN: https://www.qyresearch.com
Email: global@qyresearch.com
Tel: 001-626-842-1666(US)  
JP: https://www.qyresearch.co.jp

This release was published on openPR.