Composites Market Size, Share, Trends, Demand, Growth, Challenges and Competitive Outlook
Composites Market Size, Share, Trends, Demand, Growth, Challenges and Competitive Outlook
Blog Article
"Composites Market – Industry Trends and Forecast to 2029
Global Composites Market, By Fiber Type (Glass Fiber Composites, Carbon Fiber Composites, Natural Fiber Composites, Others), Product (Carbon, Glass), Resin Type (Thermoset Composites, Thermoplastic Composites), Manufacturing Process (Lay-Up Process, Filament Winding Process, Injection Molding Process, Pultrusion Process, Compression Molding Process, Resin Transfer Molding (RTM) Process, Others), End-Use Industry (Transportation, Aerospace and Defense, Wind Energy, Construction and Infrastructure, Pipe and Tank, Marine, Electrical and Electronics, Others) - Industry Trends and Forecast to 2031.
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Global composites market size was valued at USD 102.64 billion in 2023 and is projected to reach USD 189.99 billion by 2031, with a CAGR of 8.00% during the forecast period of 2024 to 2031. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
**Segments**
- **Material Type**: The composites market can be segmented based on material type into glass fiber composites, carbon fiber composites, natural fiber composites, and others. Glass fiber composites are widely used due to their excellent strength and affordability. Carbon fiber composites are known for their lightweight and high strength properties, making them ideal for applications in aerospace and automotive industries. Natural fiber composites, on the other hand, are gaining popularity as sustainable alternatives to conventional composites.
- **Resin Type**: Composites market segmentation by resin type includes thermoset composites and thermoplastic composites. Thermoset composites offer superior heat resistance and chemical resistance, making them suitable for high-performance applications. On the other hand, thermoplastic composites provide ease of processing and recyclability, making them a preferred choice for certain industries.
- **End-Use Industry**: The composites market can also be segmented based on end-use industry, including aerospace & defense, automotive, construction, wind energy, marine, and others. The aerospace & defense sector is a major consumer of composites due to their high strength-to-weight ratio, corrosion resistance, and design flexibility. The automotive industry is increasingly adopting composites to reduce vehicle weight and improve fuel efficiency. The construction sector is utilizing composites for their durability and design versatility in building structures.
**Market Players**
- **Hexcel Corporation**: A leading manufacturer of advanced composites used in aerospace, defense, and industrial applications. Hexcel Corporation is known for its innovative solutions and high-quality products in the composites market.
- **Toray Industries, Inc.**: A major player in the composites market, Toray Industries specializes in carbon fiber and composite materials for various industries such as automotive, aerospace, and sports equipment. The company's focus on research and development drives its leadership in the market.
- **Owens Corning**: Owens Corning is a renowned supplier of glass fiber composites for construction, industrial,Hexcel Corporation, Toray Industries, Inc., and Owens Corning are prominent players in the composites market. These companies have established themselves as key contributors to the industry through their innovative products, technological advancements, and strategic initiatives. Hexcel Corporation, known for its expertise in advanced composites, has continually developed solutions tailored to the aerospace, defense, and industrial sectors. The company's commitment to quality and performance has solidified its position as a top supplier in the market. Similarly, Toray Industries, Inc. has made significant strides in the carbon fiber and composite materials segment, catering to diverse industries including automotive, aerospace, and sports equipment. Toray's emphasis on research and development underscores its reputation for delivering cutting-edge products that meet the evolving needs of customers.
Owens Corning stands out as a leading supplier of glass fiber composites, particularly in the construction and industrial sectors. The company's focus on innovation and sustainability has paved the way for the development of high-quality composites that offer durability and performance. Owens Corning's solutions have been instrumental in enhancing the structural integrity of buildings and industrial applications, highlighting its commitment to driving advancements in the composites market.
Overall, the market landscape for composites is characterized by a diverse range of materials, resin types, and end-use industries. Glass fiber composites, carbon fiber composites, and natural fiber composites each have unique properties that cater to different applications based on strength, weight, and sustainability requirements. The segmentation of the market by resin type further underscores the importance of factors such as heat resistance, chemical resistance, and recyclability in determining the suitability of composites for specific uses.
The end-use industries play a crucial role in shaping the demand for composites, with aerospace & defense, automotive, construction, wind energy, marine, and other sectors driving market growth. The aerospace & defense industry's demand for high-performance composites highlights the need for materials that offer superior strength and durability under challenging conditions. In the automotive**Global Composites Market**
- **Fiber Type**: The global composites market, segmented by fiber type, includes glass fiber composites, carbon fiber composites, natural fiber composites, and others. Each fiber type offers unique strengths and properties that cater to diverse applications across various industries.
- **Product**: The market encompasses products such as carbon and glass composites, each playing a crucial role in different sectors based on their specific properties and characteristics.
- **Resin Type**: Composites can be classified into thermoset composites and thermoplastic composites, each offering distinct advantages in terms of heat resistance, chemical resistance, processing ease, and recyclability.
- **Manufacturing Process**: Various manufacturing processes like lay-up process, filament winding process, injection molding process, pultrusion process, compression molding process, resin transfer molding (RTM) process, among others, are utilized in the production of composites, influencing their properties and applications.
- **End-Use Industry**: The end-use industries for composites include transportation, aerospace and defense, wind energy, construction and infrastructure, pipe and tank, marine, electrical and electronics, and others, each driving market growth through unique demands and applications.
The global composites market is witnessing significant growth attributed to the increasing demand for lightweight, high-strength materials across various industries. Glass fiber composites are extensively utilized for their affordability and strength, particularly in industries like construction and marine. Carbon fiber composites are preferred in aerospace and automotive
Composites Key Benefits over Global Competitors:
- The report provides a qualitative and quantitative analysis of the Composites Market trends, forecasts, and market size to determine new opportunities.
- Porter’s Five Forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make strategic business decisions and determine the level of competition in the industry.
- Top impacting factors & major investment pockets are highlighted in the research.
- The major countries in each region are analyzed and their revenue contribution is mentioned.
- The market player positioning segment provides an understanding of the current position of the market players active in the Personal Care Ingredients
Table of Contents: Composites Market
1 Introduction
2 Global Composites Market Segmentation
3 Executive Summary
4 Premium Insight
5 Market Overview
6 Composites Market, by Product Type
7 Composites Market, by Modality
8 Composites Market, by Type
9 Composites Market, by Mode
10 Composites Market, by End User
12 Composites Market, by Geography
12 Composites Market, Company Landscape
13 Swot Analysis
14 Company Profiles
Critical Insights Related to the Composites Included in the Report:
- Exclusive graphics and Illustrative Porter’s Five Forces analysis of some of the leading companies in this market
- Value chain analysis of prominent players in the market
- Current trends influencing the dynamics of this market across various geographies
- Recent mergers, acquisitions, collaborations, and partnerships
- Revenue growth of this industry over the forecast period
- Marketing strategy study and growth trends
- Growth-driven factor analysis
- Emerging recess segments and region-wise market
- An empirical evaluation of the curve of this market
- Ancient, Present, and Probable scope of the market from both prospect value and volume
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