The Composites Market was volume at 12.92 Million Tonnes in 2021. Global Composites Market Volume is estimated to grow at a CAGR of 3.67%.

Composites Market Overview

The market overview of the Composites industry focuses on the detailed dynamics of the market, including aspects such as industry rivalry. The report provides comprehensive market revenue forecasts at the global, regional, segment, and national levels.

Composites Market Report Scope and Research Methodology

The research methodology employed in the report on the Composites market incorporates both primary and secondary research methods. Primary research involves data collection directly from the market via surveys, interviews, and observations. In contrast, secondary research entails gathering data from published sources, such as industry reports, company websites, and news articles.

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The analysis provided in the report serves as a guide for stakeholders, investors, market players, and followers, as well as new entrants, by providing them with an overall view of the Composites market for formulating investment approaches and marketing tactics. The report utilizes a bottom-up approach to estimate the size of the Composites market, which involves aggregating data from individual segments to arrive at a total market size estimate.

Composites Market Regional Insights

The market is segmented by region into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. Additionally, the report identifies the top countries in each region and provides market forecasts for each one.

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Composites Market Segmentation

Based on end use, the composites market is segmented into Automotive & Transportation, Aerospace & Defense, Wind Energy, Electrical & Electronics, Construction & Infrastructure, Pipes & Tanks, Marine, and Others. The automotive and transportation sector held the largest market share at 24% in 2021. Automakers around the world are looking for lightweight vehicle materials that deliver high fuel efficiency and meet standards and regulations related to environmental concerns and low CO2 emissions. In addition, composite materials are widely used to manufacture various components and parts of electric vehicles (EVs), battery cases, and storage tanks. Rising demand for electric vehicles (EVs) during the forecast period is also expected to increase the demand for composite materials from the automotive and transportation sectors. Substitution is the biggest constraint in the global coating fabric market. Based on fiber type, the composites market is segmented into glass fiber composites, carbon fiber composites, and natural fiber composites. The fiberglass composite segment held the largest market share at 62% in 2021. Growth in this segment is due to increased demand for products from the automotive, electrical and electronic, construction, transportation, and wind energy industries. Glass fiber composites possess outstanding properties such as high strength, light weight, high durability and good weather resistance, which drive demand for their products in multiple end-use industries.

In the United States, the fiberglass industry is moderately consolidated, with major players such as Owens Corning, Nippon Electric Glass, CPIC and Johnsmanville accounting for over 50% of total composites production value. The major end users of optical fiber in the US are the transportation, construction and pipe and tank sectors, accounting for 69% of total consumption. 

Composites Market Key Players

• Teijin Limited
• Toray Industries
• Owens Corning
• PPG Industries
• Huntsman Corporation
• Hexcel Corporation
• E. I. DuPont Nemours & Co.
• Faurecia
• Performance Composites Inc.
• Enduro Composites
• Creative Composites Ltd.
• HITCO Carbon Composites
• Quadrant Group of Companies
• BGF Industries
• Premium Aerotec
• Fokker Aerostructures
• Wethje Carbon Composites
• Fiberdur GmbH & Co. KG
• Akiet B.V.

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Key questions answered in the Composites Market are:

  • What is Composites ?
  • What are the factors driving the Composites Market growth?
  • What are the factors are limiting the Composites Market growth?
  • What was the Composites market size in 2021?
  • Which trends are expected to generate additional revenue for the Composites market growth?
  • What are the recent industry trends that can be implemented to generate additional revenue streams for the Composites Market?
  • What growth strategies are the players considering to increase their foothold in the Composites Market?
  • Who held the largest market share in the Composites Market?

Key Offerings:

  • Past Market Size and Competitive Landscape (2018 to 2021)
  • Past Pricing and price curve by region (2018 to 2021)
  • Market Size, Share, Size & Forecast by different segment | 2022−2029
  • Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
  • Market Segmentation – A detailed analysis by segment with their sub-segments and Region
  • Competitive Landscape – Profiles of selected key players by region from a strategic perspective
    • Competitive landscape – Market Leaders, Market Followers, Regional player
    • Competitive benchmarking of key players by region
  • PESTLE Analysis
  • PORTER’s analysis
  • Value chain and supply chain analysis
  • Legal Aspects of business by region
  • Lucrative business opportunities with SWOT analysis
  • Recommendations

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