The global composites market is anticipated to reach USD 192.68 billion by 2025, growing at a significant CAGR over the forecast period of 2019 to 2025. Growing demand from the automobile and aerospace industries for lightweight materials is expected to fuel growth in the industry.
Adroit Market Research report on global composites market gives a holistic view of the market from 2015 to 2025, which includes factors such as market drivers, restraints, opportunities, challenges and regulatory scenario. The market has been studied for historic years from 2015 to 2017, with the base year of estimation as 2018 and forecast from 2019 to 2025. The report covers the current status and future traits of the market at global as well as country level.
In addition, the study also assesses the market competition with Porter's five forces analysis and positions the key players based on their product portfolio, geographic footprint, strategic initiatives and overall revenue. Prominent players operating in the global composites market have been studied in detail.
- need for lightweight vehicles over the forecast period is projected to drive composites market development. The product demand in U.S. and Europe as the main region in the market has been anticipated by the rising developments from the leading producers such as Airbus and Boeing in the aerospace market.
Carbon fiber is projected to show the highest rise in the composite market over the forecast period. It consists mostly of carbon atoms bound together in crystals aligned parallel to the fiber. The carbon fibers are combined to form a composite with other materials. Carbon fiber reinforced polymer is created when a plastic resin is bonded to carbon fiber. Carbon fiber properties such as low weight and thermal expansion, resilience to temperature, strong toughness, and strong chemical resistance are highly sought in industrial applications.
The global composites market is categorized based on fiber type, resin type, manufacturing process and end use. Region wise, Asia Pacific was the largest market in 2018, and is anticipated to grow at a significant CAGR over the forecast period. North America is expected to grow at a significant rate over the coming years.
Key players serving the global Composites market include Teijin Limited; Owens Corning; Toray Industries, Inc.; PPG Industries, Inc.; Hexcel Corporation; Huntsman Corporation; and E. I. DuPont Nemours & Co. among others.
Key segments of the global composites market
Fiber Type Overview, 2015-2025 (USD Billion)
- Glass Fiber Composites
- Carbon Fiber Composites
- Natural Fiber Composites
- Other Fiber Composites
Resin Type Overview, 2015-2025 (USD Billion)
- Thermoset Composites
- Thermoplastic Composites
Manufacturing Process Overview, 2015-2025 (USD Billion)
- Lay-up
- Filament Winding
- Injection Molding
- Pultrusion
- Compression Molding
- RTM
- Others
Manufacturing Process Overview, 2015-2025 (USD Billion)
- Aerospace & Défense
- Wind Energy
- Transportation
- Construction & Infrastructure
- Marine
- Pipe & Tank
- Electrical & Electronics
- Others
Regional Overview, 2015-2025 (USD Billion)
- North America
- US
- Canada
- Europe
- Germany
- United Kingdom
- France
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa