Dublin, Feb. 16, 2021 (GLOBE NEWSWIRE) -- The "Composites Market Size, Share & Trends Analysis Report by Product (Carbon, Glass), by Resin (Thermosetting, Thermoplastics), by Manufacturing Process, by End Use, and Segment Forecasts, 2020 - 2027" report has been added to ResearchAndMarkets.com's offering.
The global composites market size is expected to reach USD 160.54 billion by 2027, expanding at a CAGR of 7.6% over the forecast period.
The growth of this market can be attributed to the increasing demand for lightweight materials in various industries such as wind energy, automotive & transportation, and aerospace and defense.
Rapid industrialization in the emerging economies of Asia Pacific and ascending demand for wind energy are factors expected to boost market growth. High product demand from the automotive industry is also projected to drive market expansion. Increasing fuel prices have prompted the want for fuel-efficient vehicles. This factor is projected to positively influence growth.
Ascending demand for customized components in automotive, aircraft, and sports industries have urged the market participants to integrate their portfolio with downstream production technologies. SGL Group formed a joint venture with Kumpers GmbH & Co. KG for utilizing advanced automated processing technologies to develop braided carbon fiber.
The market is moving toward fragmentation on account of the presence of a large number of global and regional players. Major players have a strong distribution network and product brands in the global market. The ongoing R&D activities present some growth and expansion opportunities to market players.
Composites Market Report Highlights
- In terms of revenue, carbon fiber segment is anticipated to advance at the fastest CAGR of 9.2% over the forecast period owing to their increasing adoption of carbon fiber composites in marine and wind energy applications
- The thermosetting segment dominated the market and accounted for 72% of the total demand in 2019 owing to ascending demand for composite materials in transportation and aerospace & defense applications
- The demand for composites in automotive and transportation segment accounted for a revenue share of 21.1% of the overall market in 2019 owing to increasing demand for a lightweight and durable material
- Asia Pacific was the largest regional composites market in 2019, accounting for a revenue share of 44.7% on account of significant growth of end-use sectors including automotive, construction, aerospace, and electrical and electronics in the region
- Companies such as Toray Industries, Owens Corning, and Teijin Ltd. are integrated across the value chain of composites in production and distribution activities and have also diversified their product offerings
Key Topics Covered:
Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.4. Information Analysis
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segmental Outlook
2.3. Competitive Insights
Chapter 3. Market Variables, Trends, and Scope
3.1. Penetration & Growth Prospect Mapping
3.2. Industry Value Chain Analysis
3.2.1. Major Raw Material Trends Analysis
3.3. Regulatory Framework
3.4. Technology Framework
3.5. Composites Market - Market Dynamics
3.5.1. Market Driver Analysis
3.5.2. Market Restraint Analysis
3.5.3. Industry Challenges
3.6. Business Environmental Tools Analysis: Composites Market
3.6.1. Porter's Five Forces Analysis
3.6.2. PESTLE Analysis
Chapter 4. Impact of COVID-19 on Composites Market
Chapter 5. Composites Market: Product Estimates & Trend Analysis
5.1. Composites Market: Product Movement Analysis, 2019 & 2027
5.2. Carbon Fiber Composites
5.3. Glass Fiber Composites
5.4. Others
Chapter 6. Composites Market: Resin Estimates & Trend Analysis
6.1. Composites Market: Resin Movement Analysis, 2019 & 2027
6.2. Thermosetting Composites
6.3. Thermoplastic Composites
6.4. Others
Chapter 7. Composites Market: Manufacturing Process Estimates & Trend Analysis
7.1. Composites Market: Manufacturing Process Movement Analysis, 2019 & 2027
7.2. Layup Process
7.3. Filament Winding Process
7.4. Injection Molding Process
7.5. Pultrusion Process
7.6. Compression Molding Process
7.7. Resin Transfer Molding Process
7.8. Others
Chapter 8. Composites Market: End-Use Estimates & Trend Analysis
8.1. Composites Market: End-Use Movement Analysis, 2019 & 2027
8.2. Automotive & Transportation
8.3. Electrical & Electronics
8.4. Wind Energy
8.5. Construction & Infrastructure
8.6. Pipes & Tanks
8.7. Marine
8.8. Others
Chapter 9. Composites Market: Regional Estimates & Trend Analysis
9.1. Regional Movement Analysis & Market Share, 2019 & 2027
9.2. Composites Market: Regional movement analysis, 2019 & 2027
Chapter 10. Competitive Landscape
10.1. Key Global Players, Their Initiatives, & Its Impact on the Market
10.2. Participant Categorization
10.3. Vendor Landscape
10.4. Company Market Position Analysis
10.5. List Of Key Emerging Companies And Their Geographical Presence
Chapter 11. Company Profiles
- Teijin Ltd.
- Toray Industries, Inc
- Owens Corning
- PPG Industries, Inc
- Huntsman Corporation LLC
- SGL Group
- Hexcel Corporation
- DuPont
- Compagnie de Saint-Gobain S.A.
- Weyerhaeuser Company
- Momentive Performance Materials, Inc.
- Cytec Industries (Solvay. S.A.)
- Jushi Group Co., Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/bbyxv7