Dublin, March 21, 2024 (GLOBE NEWSWIRE) -- The "Global Composites Market by Fiber Type (Glass Fiber Composites, Carbon Fiber Composites, Natural Fiber Composites), Resin Type (Thermoset Composites, Thermoplastic Composites), Manufacturing Process, End-use Industry, and Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The latest market research report on the Global Composites Market is now available, offering comprehensive insights into its significant growth trajectory expected through 2028. This in-depth analysis presents key industry trends, market size, forecasts, and the competitive landscape of the composites industry on a global scale.
The report highlights the fiber type segment where carbon fiber composites have emerged as the fastest-growing category, particularly appreciated for their exceptional strength-to-weight ratio. This attribute makes carbon fiber composites a coveted material within industries like aerospace and automotive, which are constantly seeking ways to enhance performance through weight reduction.
In terms of resin types, thermoplastic composites are gaining momentum as the frontrunner for their versatility and recyclability. The ease of remolding and reusability sets thermoplastic composites apart, fueling their demand across diverse applications.
An in-depth look at manufacturing processes reveals that Resin Transfer Molding (RTM) ranks as the second fastest-growing segment. Thanks to its ability to produce strong parts with complex shapes, RTM is becoming a go-to method for industries such as automotive and construction.
The report further details how the wind energy sector is set to exhibit remarkable growth in its use of composites. Manufacturers increasingly rely on composite materials for creating longer, more durable turbine blades, underscoring the integral role of composites in the drive toward renewable energy solutions.
From a geographical perspective, the Asia-Pacific region stands out as a high-growth market, becoming a hub for advancements in the electrical and electronics industry, which demands innovative materials to support the rapid evolution of technology offerings.
Key Market Drivers and Challenges
The research delves into various market dynamics, including:
- Drivers: Increased usage in aerospace applications, the growing role of composites in the construction and infrastructure sector, demand from satellite parts manufacturing, the push for eco-friendly automotive components, advancements in Automated Fiber Placement (AFP) and Automated Tape Laying (ATL) technologies, and an elevated focus on lightweight, high-performance materials.
- Challenges: Higher costs in processing and manufacturing, lack of standardized manufacturing technologies, and constraints in employing carbon fiber composites in high-temperature applications in the aerospace sector.
With market opportunities such as the surge in electric vehicle demand and the shift towards natural fiber composites, the report provides invaluable insights for stakeholders seeking information to inform their market strategies. Furthermore, comprehensive competitive assessments offer in-depth analysis of market shares and growth strategies employed by key industry players.
For businesses, investors, and stakeholders, the findings provide an essential benchmark for understanding the current landscape and future prospects of the global composites market.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 482 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $108.8 Billion |
| Forecasted Market Value (USD) by 2028 | $181.7 Billion |
| Compound Annual Growth Rate | 10.8% |
| Regions Covered | Global |
Companies Mentioned
- Owens Corning
- Toray Industries, Inc.
- Mitsubishi Chemical Holdings Corporation
- Solvay SA
- Teijin Limited
- Sgl Carbon SE
- Hexcel Corporation
- Nippon Electric Glass Co. Ltd.
- Huntsman International LLC
- Gurit Holding AG
- Weyerhaeuser Company
- China Jushi Co. Ltd.
- Agy
- Taishan Fiberglass Inc. (Ctg Group)
- Chongqing Polycomp International Corp. (Cpic)
- Saint-Gobain
- Ineos Capital Limited
- Hexion
- Asahi Fiber Glass Co. Ltd.
- Hyosung Advanced Materials
- Zhongfu Shenying Carbon Fiber Co. Ltd.
- Kureha Corporation
- Dowaksa
- Jilin Chemical Fiber Group Co. Ltd.
- Jiangsu Hengshen Co. Ltd.
- Zhejiang Shijin Basalt Fiber Co. Ltd. (Gbf)
- Mafic
- Kamenny Vek
- Technobasalt Invest
- Isomatex
- Polyvlies Franz Beyer GmbH & Co. KG
- Tecnaro GmbH
- Procotex SA Corporation NV
- Flexform Technologies
- Jelu-Werk Josef Ehrler GmbH & Co. KG
- Magna International Inc.
- Strongwell Corporation (Composite Part Manufacturers)
- Spirit Aerosystems (Composite Part Manufacturers)
- Exel Composites
- Bpreg Composites
- Bcomp Ltd.
- Infinitum Composites Sia
- Fibraworks GmbH
- Atomic-6
- Aeon-T
- Nova Carbon
- Antefil Composite Tech AG
- Midwest Composites
- Rrtc, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/omvrbb
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