Detroit, Nov. 07, 2024 (GLOBE NEWSWIRE) -- The global Composite Textiles market is projected to witness a growth rate of 5.9% annually from 2023 to 2028, with an anticipated size of US$ 9.5 billion by 2028, according to an analysis by Stratview Research.
Stratview Research, a global market research firm has launched a report on the global Composite Textiles market which provides a comprehensive outlook of the global and regional industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.
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Report Highlights
| Market Size in 2028 (billion US$) | 9.5 |
| Growth (CAGR) | 5.9% during 2023-2028 |
| Forecast Period | 2023-2028 |
| Trend Period | 2017-2021 |
| Base Year | 2022 |
| Number of Segments Covered | 4 |
| Number of Tables & Graphs | 100+ |
| Country-Level Market Assessment | 20 |
Segment Insights on the Composite Textiles Market:
The global Composite Textiles market is segmented based on textile type, material type, end-use industry type, and region.
Based on textile type - The composite textiles market is segmented into perform, CSM, CFM, woven roving, woven yarn, and multi-axials. Woven yarn is expected to remain the largest textile type in the market during the forecast period. There is a huge dominance of woven yarn in the electrical and electronics (E&E) industry, primarily used for making PCB laminates. Furthermore, the demand for carbon fiber textiles (usually sold in the form of woven yarn) is accelerating in most of the major markets including aerospace and wind energy.
Based on the material type – The market is segmented into glass fiber textile, carbon fiber textile, and others. Carbon fiber textile is expected to be the fastest-growing material type during the forecast period. Major factors driving the growth of carbon fiber textiles are the increasing demand for carbon composites from aerospace and wind turbine blades. Carbon fiber textiles offer a multitude of advantages compared with their competing materials, including glass fiber textiles and metals in which weight reduction is the biggest one.
To know the most attractive segments, click here for a free sample of the report:
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Which Region Shows the Most Promising Growth Forecast and Opportunity?
The analysis suggests that Asia-Pacific is expected to remain the largest market for composite textiles during the forecast period. This growth outlook is majorly attributed to the following:
- The presence of major composite textile manufacturers, such as China Jushi Co. Ltd.; Nan Ya Plastics Corp.; Toray Industries, Inc.; and Chongqing Polycomp International Corp.
- China alone registers more than one-third of the global sales in 2022.
Likewise, Europe is estimated to be the fastest-growing region during the forecast period, driven by an increased focus on wind energy and strong demand for lightweight parts for the automobile industry.
Composite Textiles Market Drivers:
Some of the key drivers listed in the report are given below.
- The increasing penetration of composite materials in various end-user markets.
- Increasing demand for lightweight materials.
- Increasing preference for composite textiles in large-sized applications such as boat hulls and wind turbine blades.
Top 5 Companies in the Composite Textiles Market:
The market is highly populated with the presence of several local, regional, and global players. Most of the major players compete in some of the governing factors, including price, product offerings, regional presence, etc. Stratview Research has identified the following companies as the top market players (arranged alphabetically).
- China Jushi Co. Ltd.
- Nan Ya Plastics Corporation
- Owens Corning
- SAERTEX GmbH & Co. KG
- Toray Industries, Inc.
What Deliverables Will You Get in this Report?
| Key questions this report answers | Relevant contents in the report |
| How big is the sales opportunity? | In-depth analysis of the Composite Textiles Market |
| How lucrative is the future? | Market forecast and trend data and emerging trends |
| Which regions offer the best sales opportunities? | Global, regional, and country-level historical data and forecasts |
| Which are the most attractive market segments? | Market segment analysis and forecast |
| Who are the top players and their market positioning? | Competitive landscape analysis, Market share analysis |
| How complex is the business environment? | Porter’s five forces analysis, PEST analysis, Life cycle analysis |
| What are the factors affecting the market? | Drivers & challenges |
| Will I get the information on my specific requirements? | 10% free customization |
For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com
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