Composites Market Growth, Trends, and Forecasts | Global Industry Analysis 2025 | Top key players - Owens Corning, Toray Industries Inc., Solvay SA.

The Global Composites Market size was worth US$ 108.64 billion in 2023 and is estimated to reach US$ 204.50 million by 2031, growing at a CAGR of 8.23% during the forecast period (2024-2031).

Composites Market report, published by DataM Intelligence, provides in-depth insights and analysis on key market trends, growth opportunities, and emerging challenges. Committed to delivering actionable intelligence, DataM Intelligence empowers businesses to make informed decisions and stay ahead of the competition. Through a combination of qualitative and quantitative research methods, it offers comprehensive reports that help clients navigate complex market landscapes, drive strategic growth, and seize new opportunities in an ever-evolving global market.

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The Composites Market involves the use of materials made from two or more distinct substances to create stronger, lighter, and more durable products. These materials are commonly used in industries like aerospace, automotive, construction, and sports equipment due to their high performance, cost-effectiveness, and versatility. The market is driven by the demand for advanced, sustainable solutions.

List of the Key Players in the Composites Market:

Owens Corning, Toray Industries Inc., Solvay SA, Teijin Limited, SGL Carbon SE, Hexcel Corporation, Nippon Electric Glass Co. Ltd., Huntsman International LLC, Hexion and Gurit Holding AG.

Industry Development:

In October 2023, Gurit took a major step forward in the wind energy sector by securing supply agreements for core material kits with two leading Wind Turbine Original Equipment Manufacturers (OEMs). These agreements, spanning four and three years respectively, will help support the growing demand for renewable energy solutions.

In October 2022, Owens Corning made a significant investment of US$ 24.5 million in machinery and new construction at its Fort Smith manufacturing facility. The investment is expected to create 50 new jobs. The company had already broken ground in early 2021 on a 550,000-square-foot expansion at its Fort Smith location, where it plans to produce fiberglass composites, insulation, and roofing materials.

Growth Forecast Projected:

The Global Composites Market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

Research Process:

Both primary and secondary data sources have been used in the global Composites Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

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Segment Covered in the Composites Market:

By Fiber: Glass Fiber, Carbon Fiber, Natural Fiber, Others.

By Resin: Thermoset, Thermoplastic.

By End-User: Aerospace & Defense, Automotive & Transportation, Construction & Infrastructure, Pipes & Tanks, Electrical & Electronics, Others.

Regional Analysis for Composites Market:

The regional analysis of the Composites Market covers key regions including North America, Europe, Asia Pacific Middle East and Africa and South America. The North America with a focus on the U.S., Canada, and Mexico; Europe, highlighting major countries like the U.K., Germany, France, and Italy, along with other nations in the region; Asia-Pacific, covering India, China, Japan, South Korea, and Australia, among others; South America, with emphasis on Colombia, Brazil, and Argentina; and the Middle East & Africa, which includes Saudi Arabia, the U.A.E., South Africa, and other countries. This comprehensive regional breakdown helps identify unique market trends and growth opportunities specific to each area.

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Benefits of the Report:

➡ A descriptive analysis of demand-supply gap, market size estimation, SWOT analysis, PESTEL Analysis and forecast in the global market.

➡ Top-down and bottom-up approach for regional analysis

➡ Porter's five forces model gives an in-depth analysis of buyers and suppliers, threats of new entrants & substitutes and competition amongst the key market players.

➡ By understanding the value chain analysis, the stakeholders can get a clear and detailed picture of this Market

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People Also Ask:

➠ What is the global sales, production, consumption, import, and export value of the Composites market?

➠ Who are the leading manufacturers in the global Composites industry? What is their operational status in terms of capacity, production, sales, pricing, costs, gross margin, and revenue?

➠ What opportunities and challenges do vendors in the global Composites industry face?

➠ Which applications, end-users, or product types are expected to see growth? What is the market share for each type and application?

➠ What are the key factors and limitations affecting the growth of the Composites market?

➠ What are the various sales, marketing, and distribution channels in the global industry?

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