Composite Textiles Market is Forecasted to Reach US$ 9.5 billion in 2028, Says Stratview Research

The global composite textiles market is projected to witness a growth rate of 5.9% annually from 2023 to 2028, with an anticipated size of US$ 9.5 billion by 2028, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global composite textiles market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

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Report Highlights:
Market Size in 2028: US$ 9.5 billion
Growth (CAGR): 5.9% during 2023-2028
Forecast Period: 2023-2028
Trend Period: 2017-2021
Base Year: 2022
Number of Segments Covered: 4
Number of Tables & Graphs: 100+

Segment Insights on the Composite Textiles Market:
The global composite textiles market is segmented based on textile type, material type, end-use industry type, and region.

Based on textile type - The composite textiles market is segmented into perform, CSM, CFM, woven roving, woven yarn, and multi-axials.
Woven yarn is expected to remain the largest textile type in the market during the forecast period. There is a huge dominance of woven yarn in the electrical and electronics (E&E) industry, primarily used for making PCB laminates. Furthermore, the demand for carbon fiber textiles (usually sold in the form of woven yarn) is accelerating in most of the major markets including aerospace and wind energy.

Based on the material type - The market is segmented into glass fiber textile, carbon fiber textile, and others.
Carbon fiber textile is expected to be the fastest-growing material type during the forecast period. Major factors driving the growth of carbon fiber textiles are the increasing demand for carbon composites from aerospace and wind turbine blades. Carbon fiber textiles offer a multitude of advantages compared with their competing materials including glass fiber textiles and metals in which weight reduction is the biggest one.

To know the most attractive segments, visit:
https://www.stratviewresearch.com/3463/composite-textiles-market.html

Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that Asia-Pacific is expected to remain the largest market for composite textiles during the forecast period. This growth outlook is majorly attributed to the following-
- This region has the presence of major composite textile manufacturers, such as China Jushi Co. Ltd.; Nan Ya Plastics Corp.; Toray Industries; Inc.; and Chongqing Polycomp International Corp. China alone registers more than one-third of the global sales in 2022.
- The high penetration of the wind energy industry in China has partially offset the overall market decline in the country.
- Europe is estimated to be the fastest-growing region during the forecast period, driven by an increased focus on wind energy and strong demand for lightweight parts for the automobile industry.

Composite Textiles Market Drivers:

Some of the key drivers listed in the report are given below.
- Several factors are driving the demand for composite textiles out of which increasing penetration of composite materials in various end-use markets, increasing demand for lightweight materials, and increasing preference for composite textiles in large-sized applications such as boat hulls and wind turbine blades are expected to fuel the demand for composite textiles during the forecast period.

Top Companies in the Composite Textiles Market:
Stratview Research has identified the following companies as the top market players (Based on Dominance).
• Owens Corning
• China Jushi Co. Ltd.
• Nan Ya Plastics Corporation
• SAERTEX GmbH & Co. KG
• Toray Industries, Inc.

What Unique Insights Does this Report Offer?

This report provides comprehensive insights into the Composite Textiles Market, answering critical questions like:

• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com

Related Reports:

• Carbon Fiber Textiles Market: https://www.stratviewresearch.com/1402/carbon-fiber-textiles-market.html

• Glass Fiber Textiles Market: https://www.stratviewresearch.com/1403/glass-fiber-textiles-market.html

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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.
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This release was published on openPR.