Composites Market Key Players Analysis - Hexcel Corporation (US), SGL Group (Germany), Nippon Electrical Glass Co. Ltd. (Japan), Huntsman International LLC. (US).

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Composites Market Size, Share & Trends Analysis Report By Fiber Type (Glass Fiber Composites, Carbon Fiber Composites, Natural Fiber Composites), Resin Type (Thermoset Composites, Thermoplastic Composites), Manufacturing Process (Lay-Up, Filament Winding, Injection Molding, Pultrusion, Compression Molding, RTM ), End-Use Industry (Aerospace & Defense, Wind Energy, Automotive & Transportation, Construction & Infrastructure, Marine, Pipe & Tank, Electrical & Electronics) - Market Outlook And Industry Analysis 2034"

The global composites market is estimated to reach over USD 313.2 Billion by the year 2034, exhibiting a CAGR of 9.2% during the forecast period.

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Composites are engineered through microscopic interactions between two or more chemically distinct material phases. They are classified into polymer, metal, ceramic, carbon, and graphite composites based on the type of matrix involved. Owing to their enhanced and tailored properties, composites find extensive applications across diverse industries such as aerospace, defense, and construction. The market growth is largely driven by the increasing demand for lightweight components within the automotive and transportation sectors.

Furthermore, the anticipated adoption of innovative lightweight materials across various industrial domains over the forecast period is expected to further propel market expansion. In aerospace and defense, composites play a critical role by significantly reducing the weight of military aircraft and helicopters. This weight reduction is crucial for enhancing overall performance and fuel efficiency, which is forecasted to be a key factor driving sustained growth in the composites industry.

List of Prominent Players in the Composites Market:
• BASF SE
• Binani Industries Ltd.
• China Jushi Co., Ltd.
• Compagnie De Saint-Gobain S.A
• Cytec Industries (Solvay, S.A.)
• Dowaksa
• Dupont
• Gaffco Ballistics
• Gurit Holding Ag
• Henkel Ag & Co. Kgaa
• Hexcel Corporation
• Hexion
• Honeywell International Inc.
• Huntsman Corporation Llc
• Jushi Group Co., Ltd.
• Kineco Limited
• Mitsubishi Chemical Holdings Corporation (Japan)
• Momentive Performance Materials, Inc.
• Nippon Electrical Glass Co. Ltd. (Japan)
• Owens Corning
• Ppg Industries, Inc.
• Renegade Materials Corporation
• Sgl Group
• Teijin Ltd
• Toray Industries, Inc.
• Trex Company, Inc.
• Upm Biocomposites
• Veplas Group
• Weyerhaeuser Company

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Market Dynamics:
Drivers:
Increasing consumer awareness of the advantages offered by composite materials is expected to significantly contribute to market revenue growth. Composites provide notable benefits across industries such as sports, manufacturing, and automotive due to their lightweight nature, corrosion resistance, and superior strength compared to many metals and wood. Furthermore, government initiatives aimed at promoting sustainability and reducing carbon dioxide (CO2) emissions are anticipated to positively impact market expansion. Both governments and automotive manufacturers are investing in lightweight commercial vehicles to enhance fuel efficiency, lower operational costs, and minimize environmental impact. The exceptional lightweight properties of composites improve vehicle fuel economy and support eco-friendly manufacturing, encouraging widespread adoption by automakers.

Challenges:
The composites market faces challenges related to the high costs associated with production, assembly, and raw materials. Additionally, composites exhibit lower strength in the out-of-plane direction, where the matrix bears most of the load, making them susceptible to damage from strong impacts. Repairing composites is more complex compared to metallic structures, requiring specialized expertise. Moreover, composites generally have limited thermal resistance due to the lower melting point of plastics relative to metals, restricting their use in high-temperature applications. Their low heat capacity and reduced strength-to-volume ratio compared to metals further limit their applicability in certain heating environments.

Regional Trends:
The Asia-Pacific region is projected to hold a substantial share of the composites market revenue and is expected to register a robust compound annual growth rate (CAGR) in the near future. This growth is driven by major manufacturing hubs in key economies such as China, India, and Japan, which serve critical sectors including automotive, construction, aerospace, and electronics. Additionally, North America accounts for a significant portion of the market, supported primarily by rising demand for lightweight materials within the United States automotive industry. Over the forecast period, continuous expansion in the electrical and electronics sectors, alongside steady growth in automotive and aerospace industries, is projected to further accelerate market development in this region.

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Recent Developments:
• In February 2022, Multiaxial glass fiber noncrimp fabrics were the first product Saertex produced in its new Mexico facility to forward its product line's growth into the wind power industry.
• In June 2021, the lightweight camera drone was built using Hexcel HexPly carbon fiber pre-preg, according to Hexcel Corporation, a world leader in advanced composites technology. A set of students from the University of Applied Sciences Upper Austria in Wels constructed a composite drone using parts supplied by the Austrian company Hexcel Neumarkt.

Segmentation of Composites Market-
Composites Market By Fiber Type
• Glass Fiber Composites
• Carbon Fiber Composites
• Natural Fiber Composites
• Other Fiber Composites
o Basalt Fiber Composites
o Aramid Fiber Composites
o Boron Fiber Composites
o Hybrid Fiber Composites
o Ultra-High-Molecular-Weight Polyethylene (Uhmwpe) Fiber Composites
Composites Market By Resin Type
• Thermoset Composites
o Epoxy Resin
o Polyester Resin
o Vinyl Ester Resin
o Polyurethane Resin
o Others
• Thermoplastic Composites
o Polycarbonates (Pc)
o Polypropylene (Pp)
o Polyphenylene Sulfide (Pps)
o Polyetherimide (Pei)
o Polyamide (Pa)
o Others
Composites Market By Application
• Aerospace & Defense
o Civil
o Defense
• Wind Energy
• Automotive & Transportation
o Automotive
o Recreational Vehicles
o Bus, Trucks, And Other Heavy Vehicles
o Metros And Monorails
o Passenger Rails
o High-Speed And Bullet Trains
• Construction & Infrastructure
• Marine
o Powerboat
o Sailboat
o Cruise Ship
o Others
• Pipe & Tank
• Electrical & Electronics
• Others
o Industrial
o Healthcare
o Sporting Goods
Composites Market By Manufacturing Process
• Lay-up
• Filament Winding
• Injection Molding
• Pultrusion
• Compression Molding
• RTM
• Others
Composites Market By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

Read Overview Report- https://www.insightaceanalytic.com/report/composites-market/1646

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