Composites Market Top Companies Study - 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 advanced materials engineered through microscopic-level interactions between two or more chemically distinct phases. They are broadly categorized into polymer, metal, ceramic, carbon, and graphite composites, depending on the type of matrix utilized. These materials are valued for their enhanced mechanical and thermal properties, which can be tailored to meet specific performance requirements. As a result, composites are widely adopted across multiple sectors, including aerospace, defense, and construction.

Market growth is primarily fueled by the increasing demand for lightweight components, particularly within the automotive and transportation industries, where weight reduction is directly linked to improved fuel efficiency and performance. Additionally, the projected integration of advanced lightweight materials across various industrial applications is expected to further support market expansion during the forecast period.

In the aerospace and defense sectors, composites are instrumental in significantly reducing the weight of military aircraft and helicopters, thereby enhancing operational efficiency and fuel economy. These performance advantages are anticipated to remain a major driver of sustained growth in the global composites market.

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:
The rising consumer awareness of the benefits associated with composite materials is expected to significantly contribute to revenue growth within the composites market. Owing to their lightweight nature, corrosion resistance, and superior strength compared to conventional metals and wood, composites are increasingly utilized across various sectors, including automotive, manufacturing, and sports. Moreover, government-led sustainability initiatives and policies aimed at reducing carbon dioxide (CO2) emissions are anticipated to further support market expansion. In particular, both public and private sector investments in lightweight commercial vehicles-targeting improved fuel efficiency, reduced operational costs, and decreased environmental impact-are contributing to the broader adoption of composite materials. Their favorable strength-to-weight ratio makes them an attractive solution for eco-conscious vehicle manufacturing.

Challenges:
Despite their advantages, the composites market is constrained by high production, assembly, and raw material costs. In addition, composite materials often exhibit lower strength in the out-of-plane direction, where the matrix component assumes the primary load-bearing function, rendering them more vulnerable to impact-related damage. Repair processes for composites are generally more complex than those for metallic structures and often require specialized technical expertise. Furthermore, limitations in thermal resistance-stemming from the lower melting points of polymer matrices relative to metals-restrict their use in high-temperature environments. Composites also possess lower heat capacity and reduced strength-to-volume ratios when compared to metals, further limiting their applicability in certain thermal applications.

Regional Trends:
The Asia-Pacific region is anticipated to command a significant share of the global composites market and is projected to exhibit strong compound annual growth over the forecast period. Key economies such as China, India, and Japan continue to serve as major manufacturing hubs supporting critical industries, including automotive, aerospace, construction, and electronics. Concurrently, North America maintains a substantial market presence, driven predominantly by the increasing demand for lightweight materials in the United States automotive sector. Continued advancements in the electrical and electronics industries, coupled with steady growth across the automotive and aerospace domains, are expected to further propel market development in both regions.

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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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