Composites Market by Fiber Type (Glass, Carbon), Resin Type (Thermoset, Thermoplastic), Manufacturing Process (Layup, Filament Winding, Pultrusion), Application (Transportation, Aerospace & Defense, Wind Energy), Region - Global Forecast to 2022

  • ID: 4383895
  • Report
  • Region: Global
  • 194 Pages
  • Markets and Markets
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The Composites Market is Projected to Grow from USD 72.58 Billion in 2016 to USD 115.43 Billion by 2022, at a CAGR of 8.13% between 2017 and 2022

FEATURED COMPANIES

  • BASF SE (Germany)
  • Gaffco Ballistics (U.S.)
  • Hexcel Corporation (U.S.)
  • Jushi Group (China)
  • SGL Group (Germany)
  • Trex Company Inc. (U.S.)
  • MORE

The composites market is estimated to reach USD 115.43 billion by 2022, at a CAGR of 8.13% between 2017 and 2022. Increasing use of composites in the aerospace & defense, transportation, wind energy, construction & infrastructure, and pipes & tanks applications is driving the growth of the composites market across the globe. However, the high processing and manufacturing costs of composites and lack of standardization in the composite manufacturing technologies are some of the factors expected to restrain the growth of the composites market during the forecast period.

“In terms of value, the aerospace & defense application segment is projected to lead the composites market during the forecast period.”

The aerospace & defense application is projected to lead the composites market during the forecast period. The growth of this application segment of the composites market can be attributed to increased use of composites in the aircraft structures. Composites used in various aircraft structures such as wings, fuselage, aircraft interiors, etc. as they can survive extreme operating conditions such as high stress, shocks, and impact loads. Thus, there is an increase in the demand for composites for making new generation aircraft such as Airbus A350 XWB and A320neo and the Boeing 787 and 737 MAX.

“The Asia-Pacific composites market is projected to grow at the highest CAGR in terms of volume between 2017 and 2022.”

The Asia-Pacific region is the largest consumer of composites in the world, followed by the North American region. It is also expected to be the most promising market for composites in the next five years. Rapid industrialization and urbanization in the region have led to increased use of composites in the aerospace & defense, construction & infrastructure, wind, pipes & tanks, and transportation applications. China is the largest market for composites in the Asia-Pacific region due to the rapidly growing manufacturing sector in the country.

In the process of determining and verifying the sizes gathered through secondary research for the composites market, its segments and subsegments, extensive primary interviews have been conducted. The breakdown of these primary interviews has been given as follows:

  • By Company Type: Tier 1-10%, Tier 2-25%, and Tier 3-65%.
  • By Designation: C-level-10%, Director Level-30%, and Others-60%
  • By Region: North America-20%, Europe-15%, Asia-Pacific-45%, Latin America-11%, and the Middle East & Africa-9%

Composites are also being used in various other applications such as sporting goods, consumer goods, healthcare, etc. They are being used for manufacturing skis, snowboards, golf clubs, archery bows, fishing rods, racquets, stacking chairs, etc.

The various key players profiled in the report are as follows:

1. Solvay (Belgium)
2. Koninklijke Ten Cate bv (Netherlands)
3. Huntsman Corporation, LLC (U.S.)
4. Toray Industries, Inc. (Japan)
5. Teijin Limited (Japan)
6. Owens Corning (U.S.)
7. Hexcel Corporation (U.S.)
8. SGL Group (Germany)
9. Weyerhaeuser (U.S.)
10. Chongqing Polycomp International Corporation (China)
11. Jushi Group (China)

The report is expected to help the market leaders/new entrants in the composites market in the following ways:

1. This report segments the composites market comprehensively and provides the closest approximations of the revenue numbers for the overall market and its subsegments across different verticals and regions.
2. The report is expected to help the stakeholders to understand the pulse of the market and provides them information on the key market drivers, restraints, challenges, and opportunities.
3. This report is expected to help the stakeholders to understand the competitors and gain insights to enhance their positions in the composites market. The competitive landscape section includes the ecosystem of competitors, investments & expansions, new product launches, and agreements.

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FEATURED COMPANIES

  • BASF SE (Germany)
  • Gaffco Ballistics (U.S.)
  • Hexcel Corporation (U.S.)
  • Jushi Group (China)
  • SGL Group (Germany)
  • Trex Company Inc. (U.S.)
  • MORE

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Years Considered for the Study
1.4 Currency
1.5 Package Size
1.6 Limitations
1.7 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Key Industry Insights
2.1.2.3 Breakdown of Primary Interviews
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Data Triangulation

3 Executive Summary

4 Premium Insights
4.1 Composite Market Size, 2017 vs 2022 (Kiloton)
4.2 Composites Market Growth, By Manufacturing Process
4.3 Wind Energy Segment Accounted for Largest Share of Composites Market in 2016
4.4 Composites Market Growth, By Country
4.5 Composites Market Size, By Application, 2017 vs 2022

5 Market Overview
5.1 Introduction
5.2 Evolution
5.3 Market Dynamics
5.3.1 Drivers
5.3.1.1 Increasing Demand of Lightweight Materials From the Transportation Industry
5.3.1.2 Growing Demand of Wind Energy as Clean Energy
5.3.1.3 Increasing Use of Glass Fiber-Reinforced Composite Pipes in Sewage & Water Management and Oil & Gas Industry
5.3.1.4 Increasing Use of Composites in the Construction & Infrastructure Applications
5.3.2 Restraints
5.3.2.1 Issues Related to Recycling
5.3.2.2 High Processing and Manufacturing Cost
5.3.2.3 Lack of Standardization in Manufacturing Technologies
5.3.3 Opportunities
5.3.3.1 Increasing Demand in Emerging Economies
5.3.3.2 Growing Adoption of Natural Composites
5.3.3.3 Penetration of Carbon Fiber Composites in New Applications
5.3.3.4 Reduction of Carbon Fibers Cost
5.3.3.5 High Demand for Glass Fiber Reinforced Composite Pipes in the Emerging Economies
5.3.4 Challenges
5.3.4.1 Developing Low-Cost Technologies
5.4 Porter’s Five Forces Analysis
5.4.1 Threat of New Entrants
5.4.2 Threat of Substitutes
5.4.3 Bargaining Power of Suppliers
5.4.4 Bargaining Power of Buyers
5.4.5 Intensity of Competitive Rivalry

6 Macro Economic Overview and Key Trends
6.1 Introduction
6.2 Trends and Forecast of GDP
6.3 Per Capita GDP vs Per Capita Composite Materials Demand
6.4 Trends and Forecast of Construction Industry
6.5 Trends in Wind Energy Industry
6.6 Trends of Aerospace Industry
6.7 Trends of Automotive Industry

7 Composites Market, By Fiber Type
7.1 Introduction
7.2 Carbon Fiber Composites
7.3 Glass Fiber Composites
7.4 Other Fiber Composites

8 Composites Market, By Resin Type
8.1 Introduction
8.2 Thermoset Composites
8.2.1 Polyester Resin
8.2.2 Vinyl Ester Resin
8.2.3 Epoxy Resin
8.2.4 Polyurethane Resin
8.2.5 Others
8.3 Thermoplastic Composites
8.3.1 Polycarbonates (PC)
8.3.2 Polyphenylene Sulfide (PPS)
8.3.3 Polyetherimide (PEI)
8.3.4 Polyetheretherketone (PEEK)
8.3.5 Others

9 Composites Market, By Manufacturing Process
9.1 Introduction
9.2 Layup Process
9.3 Filament Winding Process
9.4 Injection Molding Process
9.5 Pultrusion Process
9.6 Compression Molding Process
9.7 Resin Transfer Molding Process
9.8 Other Processes

10 Composites Market, By Application
10.1 Introduction
10.2 Transportation
10.3 Aerospace & Defense
10.4 Electrical & Electronics
10.5 Wind Energy
10.6 Construction & Infrastructure
10.7 Pipes & Tanks
10.8 Marine
10.9 Other Applications

11 Composites Market, By Region
11.1 Introduction
11.2 North America
11.2.1 U.S.
11.2.2 Canada
11.3 Europe
11.3.1 Germany
11.3.2 France
11.3.3 U.K.
11.3.4 Italy
11.3.5 Austria
11.3.6 Netherlands
11.3.7 Poland
11.3.8 Sweden
11.3.9 Spain
11.3.10 Russia
11.3.11 Turkey
11.4 Asia-Pacific
11.4.1 China
11.4.2 Japan
11.4.3 India
11.4.4 South Korea
11.4.5 Australia & New Zealand
11.4.6 Malaysia
11.4.7 SingAPOre
11.5 Middle East & Africa (ME&A)
11.5.1 UAE
11.5.2 South Africa
11.6 Latin America
11.6.1 Brazil
11.6.2 Mexico
11.6.3 Argentina

12 Competitive Landscape
12.1 Introduction
12.2 Competitive Leadership Mapping, 2016
12.2.1 Visionary Leaders
12.2.2 Innovators
12.2.3 Dynamic Differentiators
12.2.4 Emerging Companies
12.3 Competitive Benchmarking
12.3.1 Strength of Product Portfolio (25 Players)
12.3.2 Business Strategy Excellence (25 Players)
*Top 25 Companies Analyzed for This Study are - Teijin Limited (Japan), Toray Industries, Inc. (Japan), Owens Corning (U.S.), Hexcel Corporation (U.S.), Huntsman International LLC (U.S.), Solvay (Belgium), Nippon Electric Glass Co. Ltd. (Japan), SGL Group (Germany), E.I DuPont De Nemours & Co. (U.S.), Hexion (U.S.), Weyerhauser (U.S.), Jushi Group (China), Koninklijke Ten Cate BV (Netherland), Mitsubishi Chemical Holdings Corporation (Japan), BASF SE (Germany), Gurit (Switzerland), Honeywell Internalional Inc. (U.S.), Renegade Materials Corporation (U.S.), Kineco Kaman Composites-India Pvt. Limited (India), Henkel AG & Co. KGaA (Germany) , Trex Company, Inc. (U.S.), UPM BioComposites (Finland), Gaffco Ballistics (U.S.), Chongqing Polycomp International Corporation (China), Binani Industries Ltd (India)
12.4 Market Share Analysis

13 Company Profiles
(Business Overview, Products Offered, Product Offering Scorecard, Business Strategy Scorecard, Recent Developments, Key Relationships)*
13.1 Owens Corning
13.2 Toray Industries, Inc.
13.3 Teijin Limited
13.4 Mitsubishi Chemical Holdings Corporation
13.5 SGL Group
13.6 Nippon Electric Glass Co. Ltd.
13.7 Koninklijke Ten Cate BV.
13.8 Huntsman International LLC.
13.9 Solvay
13.10 Hexcel Corporation
13.11 Hexion
13.12 E. I. Du Pont Nemours & Co.
13.13 Weyerhaeuser Company
13.14 Chongqing Polycomp International Corporation
13.15 Jushi Group Co., Ltd.

*Details on Business Overview, Products Offered, Product Offering Scorecard, Business Strategy Scorecard, Recent Developments, Key Relationships Might Not Be

Captured in Case of Unlisted Companies.
13.16 Others
13.16.1 BASF SE
13.16.2 Gurit
13.16.3 Dowaksa
13.16.4 Honeywell International Inc.
13.16.5 Renegade Materials Corporation
13.16.6 Kineco Kaman Composites - India Private Limited
13.16.7 Henkel AG & Co. KGaA
13.16.8 UPM BioComposites
13.16.9 Trex Company, Inc.
13.16.10 Gaffco Ballistics
13.16.11 Binani Industries Ltd.

14 Appendix
14.1 Insights From Industry Experts
14.2 Discussion Guide

List of Tables

Table 1 EU: CO2 Emissions Standards for New Passenger Cars, (G/Km)
Table 2 Trends and Forecast of GDP, 2017-2022 (USD Billion)
Table 3 Per Capita GDP vs Per Capita Composite Materials Demand, 2016
Table 4 Construction Industry in North America, 2015-2022 (USD Billion)
Table 5 Construction Industry in Europe, 2015-2022 (USD Billion)
Table 6 Construction Industry in Asia-Pacific, 2015-2022 (USD Billion)
Table 7 Construction Industry in ME&A, 2015-2022 (USD Billion)
Table 8 Construction Industry in Latin America, 2015-2022 (USD Billion)
Table 9 Wind Energy Installation, mW (2015-2016)
Table 10 Market of New Airplanes, 2016
Table 11 Automotive Production, Million Units (2011-2016)
Table 12 Composites Market Size, By Fiber Type, 2015-2022 (USD Million)
Table 13 Composites Market Size, By Fiber Type, 2015-2022 (Kiloton)
Table 14 Carbon Fiber Composites Market Size, By Region, 2015-2022 (USD Million)
Table 15 Carbon Fiber Composites Market Size, By Region, 2015-2022 (Kiloton)
Table 16 Glass Fiber Composites Market Size, By Region, 2015-2022 (USD Million)
Table 17 Glass Fiber Composites Market Size, By Region, 2015-2022 (Kiloton)
Table 18 Other Fiber Composites Market Size, By Region, 2015-2022 (USD Million)
Table 19 Others Fiber Composites Market Size, By Region, 2015-2022 (Kiloton)
Table 20 Composites Market Size, By Resin Type, 2015-2022 (USD Million)
Table 21 Composites Market Size, By Resin Type, 2015-2022 (Kiloton)
Table 22 Thermoset Composites Market Size, By Region, 2015-2022 (USD Million)
Table 23 Thermoset Composites Market Size, By Region, 2015-2022 (Kiloton)
Table 24 Thermoplastic Composites Market Size, By Region, 2015-2022 (USD Million)
Table 25 Thermoplastic Composites Market Size, By Region, 2015-2022 (Kiloton)
Table 26 Comparative Study of Major Composite Manufacturing Processes
Table 27 Composites Market Size, By Manufacturing Process, 2015-2022 (USD Million)
Table 28 Composites Market Size, By Manufacturing Process, 2015-2022 (Kiloton)
Table 29 Layup Process Market Size, By Region, 2015-2022 (USD Million)
Table 30 Layup Process Market Size, By Region, 2015-2022 (Kiloton)
Table 31 Filament Winding Process Market Size, By Region, 2015-2022 (USD Million)
Table 32 Filament Winding Process Market Size, By Region, 2015-2022 (Kiloton)
Table 33 Injection Molding Process Market Size, By Region, 2015-2022 (USD Million)
Table 34 Injection Molding Process Market Size, By Region, 2015-2022 (Kiloton)
Table 35 Pultrusion Process Market Size, By Region, 2015-2022 (USD Million)
Table 36 Pultrusion Process Market Size, By Region, 2015-2022 (Kiloton)
Table 37 Compression Molding Process Market Size, By Region, 2015-2022 (USD Million)
Table 38 Compression Molding Process Market Size, By Region, 2015-2022 (Kiloton)
Table 39 RTM Process Market Size, By Region, 2015-2022 (USD Million)
Table 40 RTM Process Market Size, By Region, 2015-2022 (Kiloton)
Table 41 Other Processes Market Size, By Region, 2015-2022 (USD Million)
Table 42 Other Processes Market Size, By Region, 2015-2022 (Kiloton)
Table 43 Composites Market Size, By Application, 2015-2022 (USD Million)
Table 44 Composites Market Size, By Application, 2015-2022 (Kiloton)
Table 45 Composites Market Size in Transportation Application, By Region, 2015-2022 (USD Million)
Table 46 Composites Market Size in Transportation Application, By Region, 2015-2022 (Kiloton)
Table 47 Demand for New Airplanes, By Region, 2016 to 2035
Table 48 Composites Market Size in Aerospace & Defense Application, By Region, 2015-2022 (USD Million)
Table 49 Composites Market Size in Aerospace & Defense Application, By Region, 2015-2022 (Kiloton)
Table 50 Composites Market Size in Electrical & Electronics Application, By Region, 2015-2022 (USD Million)
Table 51 Composites Market Size in Electrical & Electronics Application, By Region, 2015-2022 (Kiloton)
Table 52 Germany: Annual Wind Energy Installations, 2012-2016 (mW)
Table 53 France: Annual Wind Energy Installations, 2012-2016 (mW)
Table 54 U.K.: Annual Wind Energy Installations, 2012-2016 (mW)
Table 55 Europe: Annual Wind Energy Installations, 2016 (mW)
Table 56 Asia-Pacific: Annual Wind Energy Installations, 2016 (mW)
Table 57 Composites Market Size in Wind Energy Application, By Region, 2015-2022 (USD Million)
Table 58 Composites Market Size in Wind Energy Application, By Region, 2015-2022 (Kiloton)
Table 59 Composites Market Size in Construction & Infrastructure Application, By Region, 2015-2022 (USD Million)
Table 60 Composites Market Size in Construction & Infrastructure Application, By Region, 2015-2022 (Kiloton)
Table 61 Composites Market Size in Pipes & Tanks Application, By Region, 2015-2022 (USD Million)
Table 62 Composites Market Size in Pipes & Tanks Application, By Region, 2015-2022 (Kiloton)
Table 63 Composites Market Size in Marine Application, By Region, 2015-2022 (USD Million)
Table 64 Composites Market Size in Marine Application, By Region, 2015-2022 (Kiloton)
Table 65 Composites Market Size in Other Applications, By Region, 2015-2022 (USD Million)
Table 66 Composites Market Size in Other Applications, By Region, 2015-2022 (Kiloton)
Table 67 Composites Market Size, By Region, 2015-2022 (USD Million)
Table 68 Composites Market Size, By Region, 2015-2021 (Kiloton)
Table 69 U.S.: New Wind Energy Installations, 2010-2016, (mW)
Table 70 North America: Composites Market Size, By Country, 2015-2022 (USD Million)
Table 71 North America: Composites Market Size, By Country, 2015-2022 (Kiloton)
Table 72 Germany: New Wind Energy Installations, 2010-2016 (mW)
Table 73 Europe: Composites Market Size, By Country, 2015-2022 (USD Million)
Table 74 Europe: Composites Market Size, By Country, 2015-2022 (Kiloton)
Table 75 China: New Wind Energy Installations, 2010-2016 (mW)
Table 76 India: New Wind Energy Installations, 2010-2016 (mW)
Table 77 Asia-Pacific: Composites Market Size, By Country, 2015-2022 (USD Million)
Table 78 Asia-Pacific: Composites Market Size, By Country, 2015-2022 (Kiloton)
Table 79 ME&A: Composites Market Size, By Country, 2015-2022 (USD Million)
Table 80 ME&A: Composites Market Size, By Country, 2015-2022 (Kiloton)
Table 81 Brazil: New Wind Energy Installations, 2010-2016 (mW)
Table 82 Latin America: Composites Market Size, By Country, 2015-2022 (USD Million)
Table 83 Latin America: Composites Market Size, By Country, 2015-2022 (Kiloton)

List of Figures

Figure 1 Composites Market Segmentation
Figure 2 Composites Market: Research Methodology
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
Figure 4 Market Size Estimation Methodology: Top-Down Approach
Figure 5 Global Composite Market : Data Triangulation
Figure 6 Aerospace & Defense is the Fastest Growing Application in the Global Composites Market During the Forecast Period
Figure 7 Layup Manufacturing Process to Lead and Register the Highest CAGR in the Global Composites Market Between 2017 and 2022
Figure 8 Attractive Opportunities for Market Players
Figure 9 Layup Process Highly Preferred By Composite Manufacturers
Figure 10 Asia-Pacific is the Largest Market for Composites
Figure 11 China to Be Fastest-Growing Market, 2017-2022
Figure 12 Composites Market Projected to Witness Fastest Growth in Aerospace & Defense Sector
Figure 13 Development and Commercialization of Composites for Industry Applications
Figure 14 Drivers, Restraints, Opportunities, and Challenges in the Composites Market
Figure 15 Porter's Five Forces Analysis for Global Composite Market
Figure 16 Trends and Forecast of GDP, 2017-2022 (USD Billion)
Figure 17 Per Capita GDP vs Per Capita Composite Materials Demand
Figure 18 Construction Industry in North America, 2017 vs 2022 (USD Billion)
Figure 19 Construction Industry in Europe, 2017 vs 2022 (USD Billion)
Figure 20 Construction Industry in Asia-Pacific, 2017 vs 2022 (USD Billion)
Figure 21 Trends and Forecast of Construction Industry in Middle East, 2017 vs 2022 (USD Billion)
Figure 22 Construction Industry in Latin America, 2017 vs 2022 (USD Billion)
Figure 23 Wind Energy Installed Capacity, mW (2014-2015)
Figure 24 Trends of New Airplane Deliveries, By Region, 2016
Figure 25 Automotive Production in Key Acountries, Million Units (2015 vs 2016)
Figure 26 Glass Fiber Composites to Dominate the Composites Market, 2017-2022 (USD Million)
Figure 27 Asia-Pacific to Dominate the Glass Fiber Composites Market, 2017-2022 (USD Million)
Figure 28 Thermoplastic Composites is Expected to Grow at Higher Rate, 2017-2022 (USD Million)
Figure 29 Asia-Pacific to Drive the Thermoplastic Composites Market During the Forecast Period
Figure 30 Layup Manufacturing Process to Dominate Composite Market During Forecast Period
Figure 31 Asia-Pacific to Drive Composites Market for Injection Molding Process During the Forecast Period
Figure 32 North America to Witness Highest Growth in Compression Molding Process During the Forecast Period
Figure 33 Aerospace & Defense Industry to Outpace Other End-Use Segments During the Forecast Period
Figure 34 North America to Dominate Composites Market in Aerospace & Defense Industry During the Forecast Period
Figure 35 Wind Energy is Expected to Grow at High Rate in Asia-Pacific Composites Market During the Forecast Period
Figure 36 China to Be Fastest Growing in the Global Composite Market
Figure 37 U.S. is the Most Lucrative Market in North America
Figure 38 Germany: Fastest-Growing Composites Market in Europe
Figure 39 China Dominates Composites Market in Asia-Pacific
Figure 40 Aerospace & Defense to Be Fastest-Growing Application for Composite Market in Latin America (2017-2022)
Figure 41 Composite Market (Global) Competitive Leadership Mapping, 2016
Figure 42 Market Share of Key Players, 2016
Figure 43 Owens Corning: Company Snapshot
Figure 44 Toray Industries, Inc.: Company Snapshot
Figure 45 Teijin Limited: Company Snapshot
Figure 46 Mitsubishi Chemical Holdings Corporation: Company Snapshot
Figure 47 SGL Group: Company Snapshot
Figure 48 Nippon Electric Glass Co. Ltd.: Company Snapshot
Figure 49 Koninklijke Ten Cate BV.: Company Snapshot
Figure 50 Huntsman Corporation: Company Snapshot
Figure 51 Solvay: Company Snapshot
Figure 52 Hexcel Corporation: Company Snapshot
Figure 53 Hexion: Company Snapshot
Figure 54 E. I. DuPont Nemours & Co.: Company Snapshot
Figure 55 Weyerhaeuser: Company Snapshot

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  • BASF SE (Germany)
  • Binani Industries Ltd (India)
  • Chongqing Polycomp International Corporation (China)
  • E.I DuPont De Nemours & Co. (U.S.)
  • eijin Limited (Japan)
  • Gaffco Ballistics (U.S.)
  • Gurit (Switzerland)
  • Henkel AG & Co. KGaA (Germany)
  • Hexcel Corporation (U.S.)
  • Hexion (U.S.)
  • Honeywell Internalional Inc. (U.S.)
  • Huntsman International LLC (U.S.)
  • Jushi Group (China)
  • Kineco Kaman Composites-India Pvt. Limited (India)
  • Koninklijke Ten Cate BV (Netherland)
  • Mitsubishi Chemical Holdings Corporation (Japan)
  • Nippon Electric Glass Co. Ltd. (Japan)
  • Owens Corning (U.S.)
  • Renegade Materials Corporation (U.S.)
  • SGL Group (Germany)
  • Solvay (Belgium)
  • Toray Industries Inc. (Japan)
  • Trex Company Inc. (U.S.)
  • UPM BioComposites (Finland)
  • Weyerhauser (U.S.)
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