Composites Market is expected to reach USD 146.14 Billion at a CAGR of 6.2% by 2028
The global composites market size was USD 99.74 billion in 2020 and is expected to register a revenue CAGR of 6.2% over the forecast period. Some major factors driving market revenue growth are increasing demand for lightweight and strong materials in the aerospace, sports, construction and automotive industry and government initiatives on environment related issues.
Reports and Data has recently published a novel report on global Composites market to offer a comprehensive analysis of the Composites industry and users, investors and readers to understand current and emerging market trends to make investment plans accordingly. The report offers a details about market size, market share, revenue growth, drivers, restraints, growth opportunities and market limitations. The report is curated using advanced analysis tools like Porter’s five force and SWOT analysis. The report also sheds light on changes in the market dynamics during the COVID-19 outbreak.
Some of the leading players in the global Composites market:
Owens Corning, Toray Industries, Inc., Teijin Limited, Mitsubishi Chemical Holdings Corporation, SGL Group, Nippon Electric Glass Co. Ltd., Koninklijke Ten Cate BV, Huntsman International LLC., Solvay, Hexcel Corporation, Hexion, E. I. Du Pont Nemours & Co., Weyerhaeuser Company, Chongqing Polycomp International Corporation, and Jushi Group Co., Ltd.
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The materials and chemicals sector has significantly grown over the recent years and is expected to register robust revenue CAGR over the forecast period. The materials and chemicals sector comprises daily wear products such as detergents, perfumes, soaps, and other raw materials and chemicals used in the manufacturing of other products. There has been a significant increase in the demand for raw materials and chemicals across various industrial sectors such as healthcare and pharmaceuticals, automotive, agriculture, manufacturing, paint, and food and beverages among others. Factors such as increasing awareness about green energy and excess carbon emission, changing consumer preference, growing adoption of biodegradable, sustainable and eco-friendly products, and rapidly expanding industries and building and construction sector are expected to boost global market revenue growth going ahead.
The report further sheds light on the competitive landscape and provides in depth information about each market player including its global position, product portfolio, financial standing, revenue growth and company overview. The market players are focused on adopting various inorganic and organic growth strategies such as mergers and acquisitions, joint ventures, collaborations, product launches and partnerships to gain a robust footing in the market.
Key questions addressed in the report:
- What is the expected market size of the global Composites market during the forecast period?
- What CAGR is the global market expected to register during the forecast period?
- Which key factors are expected to boost global market growth between 2021 and 2028?
- What are the key restraints that are expected to hamper global market growth?
- Which regional market is expected to register robust CAGR during the forecast period?
- Which key players are operating the global Composites market?
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Composites Market Segmentation:
Resin Type Outlook:
- Thermosetting Composites
- Thermoplastic Composites
Product Type Outlook:
- Polymer Matrix Composites
- Glass Fiber Reinforced Polymers
- Carbon Fiber Reinforced Polymer Composites
- Kevlar (aramid) fiber reinforced polymers
- Metal Matrix Composites
- Ceramic Matrix Composites
Manufacturing Process Outlook:
- Wet Lay-Up
- Compression Moulding
- Injection Moulding
- Resin Transfer Moulding
- Vacuum Infusion
- Filament Winding
End-Use Industry Outlook:
- Automotive & Transportation
- Aerospace & Defense
- Electrical & Electronics
- Wind Energy
- Construction & Infrastructure
- Pipes & Tanks
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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