Composites Market Top Players - 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 high-performance materials developed through interactions at the microscopic level between two or more chemically distinct phases. They are generally classified into polymer, metal, ceramic, carbon, and graphite composites, based on the type of matrix employed. These materials are prized for their superior mechanical and thermal properties, which can be engineered to meet specific application requirements. Consequently, composites are extensively utilized across industries such as aerospace, defense, and construction.

The growth of the composites market is primarily driven by the rising demand for lightweight components, especially in the automotive and transportation sectors, where reductions in weight contribute directly to enhanced fuel efficiency and overall performance. Furthermore, the anticipated adoption of advanced lightweight materials across diverse industrial applications is expected to bolster market expansion throughout the forecast period.

In aerospace and defense, composites play a critical role in reducing the weight of military aircraft and helicopters, thereby improving operational efficiency and fuel economy. These performance benefits are projected to remain a key factor supporting 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:
Growing awareness among consumers regarding the advantages of composite materials is expected to be a key driver of revenue growth in the composites market. Valued for their lightweight characteristics, corrosion resistance, and superior strength relative to traditional metals and wood, composites are increasingly adopted across sectors such as automotive, manufacturing, and sports. In addition, government-led sustainability initiatives and regulatory policies aimed at reducing carbon dioxide (CO2) emissions are likely to further encourage market expansion.

Notably, both public and private investments in lightweight commercial vehicles-targeting enhanced fuel efficiency, lower operational costs, and reduced environmental impact-are accelerating the adoption of composite materials. Their favorable strength-to-weight ratio positions them as an attractive solution for eco-conscious vehicle manufacturing.

Challenges:
Despite their benefits, the composites market faces constraints related to high production, assembly, and raw material costs. Composites often exhibit lower out-of-plane strength, where the matrix bears the primary load, making them more susceptible to impact damage. Repairing composite structures is generally more complex than metallic counterparts, frequently requiring specialized technical expertise.

Additionally, limitations in thermal resistance-due to the lower melting points of polymer matrices compared to metals-restrict their use in high-temperature applications. Composites also tend to have lower heat capacity and reduced strength-to-volume ratios relative to metals, further limiting their suitability in certain thermal-intensive environments.

Regional Trends:
The Asia-Pacific region is projected to hold a significant share of the global composites market and is expected to demonstrate strong compound annual growth over the forecast period. Key economies, including China, India, and Japan, continue to serve as major manufacturing hubs supporting industries such as automotive, aerospace, construction, and electronics.

Meanwhile, North America maintains a substantial market presence, largely driven by rising demand for lightweight materials within the U.S. automotive sector. Continued advancements in the electrical and electronics industries, along with steady growth across automotive and aerospace segments, are anticipated to further bolster 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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This release was published on openPR.