Trends, opportunities and forecast in this composites market to 2024 by application type (transportation, marine, wind energy, aerospace, pipe & tank, construction, electrical & electronics, consumer goods, and others), raw material (glass fiber, carbon fiber, aramid fiber, polyester resin, vinyl ester, phenolic, polyurethane, thermoplastic resin, filler, and others), fiber type (glass fiber composites, carbon fiber composites, and aramid fiber composites), resin type (polyester composites)
The Global Composite Materials Market is Expected to Reach an Estimated $40.2 Billion by 2024
The future of the global composites market looks attractive with opportunities in transportation, construction, wind energy, pipe & tank, marine, consumer goods, electrical and electronics, aerospace, and others. The global composite materials market is expected to reach an estimated $40.2 billion by 2024 and it is forecast to grow at a CAGR of 3.3% from 2019 to 2024. The global composites end product market is expected to reach an estimated $114.7 billion by 2024. The major drivers for growth in this market are increasing demand for lightweight materials in the aerospace & defense and automotive industry; corrosion and chemical resistance materials demand in construction and pipe & tank industry; electrical resistivity and high flame retardant materials demand in electrical and electronics industry.
Emerging trends, which have a direct impact on the dynamics of the industry, include the development of low-cost carbon fibers, high-performance glass fiber, and rapid cure resin system.
A total of 238 figures/charts and 38 tables are provided in this 385-page report to help in your business decisions.
The study includes the market size for composites market and forecast for the global composites market by application, fiber type, resin type, manufacturing process, molding compound, country, and region, as follows:
Composites Industry by End Use Industry ($ Million and Million Pounds)
Pipe & Tank
Electrical and Electronics
Composites Industry by Manufacturing Process ($ Million and Million Pounds)
Resin Infusion (RRIM, RTM, VARTM)
Composites Industry by Molding Compound ($ Million and Million Pounds)
Thermoplastic Compounds ( SFT, LFT, GMT, CFT and Other)
Composites Industry by Resin Type ($ Million and Million Pounds)
Composites Industry by Fiber Type ($ Million and Million Pounds)
Composites Industry by Fiber Glass Type ($ Million and Million Pounds)
Single End Roving
Multi End Roving
Chopped Strand Mat
Continuous Filament Mat
Composites Industry by Carbon Fiber Type ($ Million and Million Pounds)
PAN Based Carbon Fiber
PITCH Based Carbon Fiber
Composites Industry by Region ($ Million and Million Pounds)
Composites Industry by Country (Million Pounds)
On the basis of its comprehensive research, the researcher forecasts that the aerospace and wind energy segments are expected to show above average growth during the forecast period from 2019 to 2024.
Within the global composites market, injection molding, hand layup, compression molding, spray up, filament winding, resin infusion, and prepreg layup are some of the major processes utilized to manufacture composite parts. Injection molding is expected to be the largest process in terms of value and volume in composite manufacturing because of low cycle time, low manufacturing cost, and the ability to make complex shapes.
Asia Pacific is expected to remain the largest region by value and volume; this region is also expected to experience the highest growth over the forecast period because of growth in construction, transportation, and the electrical and electronics segments. The major drivers for growth are increasing automotive production, high growth in construction, and infrastructure development.
Some of the features of the “Growth Opportunities in the Global Composites Industry 2019-2024” report include:
Market size and growth rates of the global composites market.
Composites and competing for material markets (steel, aluminum, plastic, composites) in terms of volume
Market size estimates of glass fiber and by type of product form.
Market size estimates of global carbon fiber market by tow size as well as by pan and pitch type in terms of volume and value
Market for fiber type (glass composites, carbon composites, aramid composites).
Analysis of the global composites industry size in terms of value and volume.
Trends (2013-2018) and forecast (2019-2024) for the global composites industry in terms of value and volume by region, such as North America, Europe, Asia Pacific, and ROW
Global composites industry trends (2013-2018) and forecast (2019-2024) in terms of value and volume by application, such as Transportation, Marine, Wind energy, Aerospace, Pipe and tank, Construction, Electrical & Electronics, Consumer goods, and Others.
Market size estimates for reinforcements and resins
Market size estimates for global commodity composites and advanced composites
Market size estimates of global composites by molding compound
Market breakdown by applications and key regions of North America, Europe, Asia Pacific, and the Rest of the World
Market size estimates of global composites by end product market for 2018 and 2024
Composites market by country, including China, India, the US, and Germany
Competitive analysis of steel, aluminum, plastics and the composites industries
Market breakdown by manufacturing technology, manufacturing process, market segment, and material type
Thermoset and thermoplastic composites market size
Market outlook and global trends in automotive, marine, construction, aerospace and other important market segments with the needs and challenges of each
Value chain analysis: Dollar and gross profit flow through various nodes of the value chain (from raw material to final application)
Company profiles of material and end product manufacturers
Current innovations in the global composites industry
This report answers the following 11 key questions:
Q. 1. What are some of the most promising, high-growth segments in the global composites market by application type (transportation, marine, wind energy, aerospace, pipe & tank, construction, electrical & electronics, consumer goods, and others), raw material (glass fiber, carbon fiber, aramid fiber, polyester resin, vinyl ester, phenolic, polyurethane, thermoplastic resin, filler, and others), fiber type (glass fiber composites, carbon fiber composites, and aramid fiber composites), resin type (polyester composites, epoxy composites, vinyl ester composites, phenolic composites, other thermosets, and thermoplastic composites), by molding compound (SMC, BMC, SFT, LFT, and other composites), and region (North America, Europe, APAC, and ROW)?
Q.2.Which segments will grow at a faster pace and why?
Q.3.Which region will grow at a faster pace and why?
Q.4.What are the key factors affecting market dynamics? What are the drivers, challenges, and business risks in this composites market?
Q.5.What are the business risks and competitive threats in this composites market?
Q.6.What are the emerging trends in this composites market and the reasons behind them?
Q.7.What are some of the changing demands of customers in the composites market?
Q.8.What are the new developments in the composites market? Which companies are leading these developments?
Q.9. Who are the major players in this composites market? What strategic initiatives are key players pursuing business growth?
Q.10.What are some of the competing products in this composites market and how big of a threat do they pose for loss of market share by the material or product substitution?
Q.11.What M & A activity has occurred in the last 5 years in this composites market?
Table of Contents
1. Executive Summary
*Full List of Tables and Figures Available on Enquiry.
The analyst has been in the business of market research and management consulting since 2000 and has published over 600 market intelligence reports in various markets/applications and served over 1,000 clients worldwide. Each study is a culmination of four months of full-time effort performed by the analyst team. The analysts used the following sources for the creation and completion of this valuable report:
- In-depth interviews of the major players in the market
- Detailed secondary research from competitors’ financial statements and published data
- Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
- A compilation of the experiences, judgments, and insights of professionals, who have analyzed and tracked the market over the years.
Extensive research and interviews are conducted in the supply chain of the market to estimate market share, market size, trends, drivers, challenges and forecasts.
Thus, the analyst compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. The analyst then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process.