Lucintel Forecasts Global Composites Material Market to Reach $70.0 billion by 2030

The future of the composites material market looks promising with opportunities in the transportation, marine, wind energy, aerospace, pipe & tank, construction, electrical & electronics (E&E), and consumer goods. The global composite materials market is expected to reach an estimated $70.4 billion by 2030 with a CAGR of 4% from 2023 to 2030. The global composite end product market is expected to reach an estimated of $196.6 billion by 2030.
According to the recent study the composites market [https://www.lucintel.com/composites-market.aspx] is projected to reach an estimated $70.0 billion by 2030 from $53.0 billion in 2023, at a CAGR of 4% from 2023 to 2030. Growth in this market is primarily driven by increasing demand for lightweight materials in the aerospace & defense, and automotive industries; corrosion- and- chemical-resistant materials' demand in the construction, and pipe & tank industries; electrical resistivity and high flame retardant materials' demand in the electrical and electronics industry.

Browse 240 figures / charts and 55 tables in this 402 -page report to understand trends, opportunities and forecast in composites market by end use industry (transportation, marine, wind energy, aerospace, pipe & tank, construction, electrical & electronics, consumer goods, and others), manufacturing process (hand lay-up, spray up, resin infusion, filament winding, pultrusion, injection molding, compression molding, prepreg lay up, and others), molding compound (SMC, BMC, and thermoplastic compounds), resin type (polyester, epoxy, vinyl ester, phenolic, and thermoplastic), fiber type (glass fiber composites, carbon fiber composites, and aramid fiber composites), fiberglass type (single end roving, multi end roving, chopped strand, woven roving, fabrics, chopped strand mat, continuous filament mat, and others), carbon fiber type (PAN based carbon fiber and pitched based carbon fiber), and region (North America, Europe, Asia Pacific, and the Rest of the World).

Lucintel forecasts construction will remain the largest end use by value and volume due to increasing residential and commercial construction and growth in remolding activities. Aerospace is expected to witness highest growth over the forecast period.

Transportation will remain the largest end use market over the forecast period due to the increasing production and use of lightweight materials in transportation market. Aerospace is expected to witness the highest growth over the forecast period.

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Asia Pacific is expected to remain the largest region by value and volume, and it is also expected to experience the highest growth over the forecast period because of growth in construction, transportation, and the electrical and electronics segments. The major drivers for growth are increasing automotive production, high growth in construction, and infrastructure development.

Owens Corning, Jushi Group, Nippon Electric Glass Co Ltd., CPIC, Toray Industries, Hexcel Composites, Mitsubishi Rayon, Gurit, Polynt Reichhold are the major supplier in the composites market.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at helpdesk@lucintel.com To get access of more than 1000 reports at fraction of cost visit Lucintel's Analytics Dashboard.

About Lucintel

At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times.

Contact: Roy Almaguer Lucintel Dallas, Texas, USA Email: roy.almaguer@lucintel.com Tel. +1 972.636.5056

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