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The Composites Market size was estimated at USD 84.80 billion in 2022, USD 89.83 billion in 2023, and is expected to grow at a CAGR of 7.29% to reach USD 148.96 billion by 2030. Speak directly to the analyst to clarify any post sales queries you may have.
Composites are a combination of two or more distinct materials that retain their individual properties while also exhibiting new and improved characteristics as a result of their interaction with each other. Composites are engineered with the aim of optimizing the performance and functionality of products by capitalizing on the unique advantages offered by each constituent material. The increasing demand for lightweight materials in industries such as aerospace, automotive, and transportation and the growing focus on fuel efficiency increases the adoption of composites. However, high manufacturing costs of composite materials and limited material recyclability may hinder market growth. Nevertheless, innovations in advanced recycling techniques enable effective recovery and reuse of valuable composite components, thus creating lucrative opportunities for the development of the market.
Regional Insights
The Americas, particularly the United States, has a strong presence in the composites industry, with a significant focus on aerospace, automotive, and infrastructure applications. The region consists of several composite manufacturers, research institutions, and industry associations developing R&D activities for the advanced engineered materials and manufacturing process associated with the composite. The increasing adoption of composites in several sectors is influenced by economic growth, infrastructure development, and the pursuit of lightweight and sustainable solutions, especially in the Asia-Pacific and EMEA region. China and Japan have witnessed significant investments in the aerospace industry, driving the demand for composites in aircraft manufacturing. The automotive industry in Japan, South Korea, China, Germany, France, and the United Kingdom actively embraces composites to achieve lightweight and improve fuel efficiency. The construction, energy, and marine sectors in countries such as China, India, and Japan also utilize composites for various applications, including building facades, renewable energy projects, and boat and ship construction. Further, the United Kingdom, France, and the United Arab Emirates highly employ composites for building facades, bridges, and reinforcement materials. The renewable energy sector in countries of Germany, Spain, and Denmark has adopted composites for wind turbine blades and solar panel structures for lightweight and high-strength properties, contributing to the growth of clean energy generation. Moreover, marine industries in Norway, Italy, and the Netherlands utilize composites in boat and ship construction for weight reduction, corrosion resistance, and improved fuel efficiency.FPNV Positioning Matrix
The FPNV Positioning Matrix is pivotal in evaluating the Composites Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).Market Share Analysis
The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Composites Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.Key Company Profiles
The report delves into recent significant developments in the Composites Market, highlighting leading vendors and their innovative profiles. These include ARRIS Composites, Inc., BASF SE, Celanese Corporation, China Jushi Co., Ltd., Compagnie Chomarat, Compagnie de Saint-Gobain S.A., Covestro AG, Creative Composites Group, DuPont de Nemours, Inc., Evonik Industries AG, Flex Composite Group, General Electric Company, Gurit Services AG, Heico Corporation, Hexcel Corporation, Hexion Inc., Honeywell International Inc., Huntsman Corporation, Kineco Limited, LAMILUX Heinrich Strunz Holding GmbH & Co. KG, LyondellBasell Industries Holdings B.V., Mitsubishi Chemical Corporation, Nippon Electric Glass Co., Ltd., Owens Corning, Performance Composites Inc., Safran Group, Schütz GmbH & Co. KGaA, SGL CARBON SE, Sigmatex (UK) Limited, Sika AG, Solvay S.A., Strongwell Corporation, Teijin Limited, Toray Industries, Inc., and TPI Composites Inc.Market Segmentation & Coverage
This research report categorizes the Composites Market to forecast the revenues and analyze trends in each of the following sub-markets:- Type
- Carbon Matrix Composites
- Ceramic Matrix Composites
- Metal Matrix Composites
- Polymer Matrix Composites
- Manufacturing Process
- Compression Molding
- Filament Winding
- Injection Molding
- Lay-up
- Pultrusion
- Resin Transfer Molding
- End-Use
- Aerospace & Defense
- Automotive
- Construction
- Consumer Goods
- Energy & Wind
- Marine
- Sports & Leisure
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
- Americas
The report offers valuable insights on the following aspects
- Market Penetration: It presents comprehensive information on the market provided by key players.
- Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
- Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
- Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
- Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.
The report addresses key questions such as
- What is the market size and forecast of the Composites Market?
- Which products, segments, applications, and areas should one consider investing in over the forecast period in the Composites Market?
- What are the technology trends and regulatory frameworks in the Composites Market?
- What is the market share of the leading vendors in the Composites Market?
- Which modes and strategic moves are suitable for entering the Composites Market?
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Table of Contents
1. Preface
2. Research Methodology
4. Market Overview
5. Market Insights
6. Composites Market, by Type
7. Composites Market, by Manufacturing Process
8. Composites Market, by End-Use
9. Americas Composites Market
10. Asia-Pacific Composites Market
11. Europe, Middle East & Africa Composites Market
12. Competitive Landscape
13. Competitive Portfolio
14. Appendix
List of Figures
List of Tables
Companies Mentioned
- ARRIS Composites, Inc.
- BASF SE
- Celanese Corporation
- China Jushi Co., Ltd.
- Compagnie Chomarat
- Compagnie de Saint-Gobain S.A.
- Covestro AG
- Creative Composites Group
- DuPont de Nemours, Inc.
- Evonik Industries AG
- Flex Composite Group
- General Electric Company
- Gurit Services AG
- Heico Corporation
- Hexcel Corporation
- Hexion Inc.
- Honeywell International Inc.
- Huntsman Corporation
- Kineco Limited
- LAMILUX Heinrich Strunz Holding GmbH & Co. KG
- LyondellBasell Industries Holdings B.V.
- Mitsubishi Chemical Corporation
- Nippon Electric Glass Co., Ltd.
- Owens Corning
- Performance Composites Inc.
- Safran Group
- Schütz GmbH & Co. KGaA
- SGL CARBON SE
- Sigmatex (UK) Limited
- Sika AG
- Solvay S.A.
- Strongwell Corporation
- Teijin Limited
- Toray Industries, Inc.
- TPI Composites Inc.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 197 |
| Published | March 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 89.83 Billion |
| Forecasted Market Value ( USD | $ 148.96 Billion |
| Compound Annual Growth Rate | 7.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 35 |
