Composites Market Bwc19399
Global Composites Market Size, By Fiber Type (Glass Fiber Composites, Carbon Fiber Composites, Natural Fiber Composites, and Other Fiber Composites), By Resin Type (Thermoset Composites, and Thermoplastic Composites), By Manufacturing Process (Lay-up, Filament Winding, Injection Molding, Pultrusion, Compression Molding, RTM, and Others), By End-use Industry (Aerospace & defense, Wind Energy, Transportation, Construction & Infrastructure, Marine, Pipe & Tank, Electrical & Electronics, and Others), and by Region (North America, Europe, Asia Pacific, Middle East & Africa and Latin America); Trend Analysis, Competitive Market Share & Forecast, 2016-26
- Published Date: February 2020
- Report ID: BWC19399
- Available Format: PDF
- Page: 175
Report Overview
Global
Composites Market Forecast and Trends
The global Composites market
is anticipated to grow nearly at a CAGR of 8.1 % to reach US$ 143.6 Million by
2026. The increase in demand from the end-user industries drives the composites
market. The improved properties such as high fatigue life, high strength and
modulus, lower weight, acoustic insulation, and resistance to corrosion have
resulted in increased demand for composites. The rising demand for lightweight
materials in the aerospace & defense and automotive industry are the main
drivers for the growth of composites market; demand for corrosion and chemical
resistance materials in the construction and pipe & tank industry; demand
for electrical resistivity and high demand for flammable materials in the
electrical and electronics industry. The emerging trends that have a direct
influence on the industry's dynamics include low-cost carbon fiber development,
high-performance glass fiber development, and rapid resin cure system.
In-house supply of primary
raw materials and carbon fiber processing and use helps manufacturers minimize
logistics costs. It also allows manufacturers to augment productivity for the
different end-use products directly. Due to their characteristics, such as low
thermal expansion, weight, high stiffness, temperature tolerance, and chemical
resistance, carbon fibers find numerous applications. Volatility in the prices
of raw materials and non-recyclable composites presents a significant threat to
market growth.
Global
Composites Market Overview:
A composite is a synthesis
of two physically and chemically distinct materials. When combined, they
produce a substance that is skilled in doing a specific task, such as becoming
stronger, lighter, or electricity resistant. The explanation for their use is
that they improve the properties of their base materials and, in many cases,
are appropriate. A composite's most common example is concrete. In this
application, the structural steel rebar provides the concrete with strength and
rigidity, while the cured cement holds the rebar stationary. Rebar alone would
be too flexible, so cement alone would quickly break. However, a very rigid
material is formed when combined to form a composite.
Growth
drivers
Growing of Construction and
Infrastructure Industry at Rapid pace
Building and infrastructure
industry is the top consumer of composites. With development taking place at a
rapid pace, it is expected that the composite market will hit its peak.
Construction of homes, swimming pools, storage tanks, countertops, bridges,
skyscrapers, and commercial layouts across developed and developing economies
is augmenting the growth in the composite market. The success of creating the
most robust and lightweight structures in the construction industry has
increased the level of engagement of composites. Due to the rapid development
in developing economies like India and China, humungous demands for composites
are seen from the APAC zone.
Increasing use of Composites
in Commercial Aircraft and Automobiles
Despite their high cost,
fiber-reinforced composite materials have driven mainly due to the requirements
of high-performance items such as wings, tails, propellers, fuselages,
helicopter rotor blades, spacecraft equipment. The parts of the Airbus A350 and
Boeing 787 aircraft are mainly made from composites. They are also used in sailing,
fishing gear, kayaks, dinghies, and scull hulls manufacturing. For robust and
lightweight composite materials such as carbon fiber, the esteemed thrill of
speed in various sports cars is achieved. Composites are used to render the
chassis of multiple two-wheelers and bikes. The introduction of electrification
between vehicles to replace conventional fuel has dramatically increased the
use of composites in the automotive market.
Restraints
High cost and Lack of
Standardization impeding the market of Composites
The high processing and
manufacturing cost and Lack of Standardization in Manufacturing Technologies
are expected to hamper the growth of the Composites market. There are issues
related to the recycling of composites, which could be another factor deterring
the composites market growth.
Global
Composites Market: Fiber Type
Based on Fiber Type, the Composites market segmented into Glass Fiber Composites, Carbon Fiber Composites, Natural Fiber Composites, and Other Fiber Composites. The glass fiber composites segment is account for a significant market share of composites during the forecast years since they are less costly and possess superior physical and mechanical properties such as strength, flexibility, durability, stability, and lightweight. Glass fiber composites are mainly used in the segments of wind power, pipes & tanks, electrical & electronics, and construction & infrastructure.
Global
Composites Market: Resin Type
Based on Resin Type, the
Composites market bifurcated into Thermoset Composites, and Thermoplastic
Composites. The thermoset composites segment is expected to account for a
significant share of the composites market during the forecast years, due to
its durability and low costs. Thermoset resins have high-performance properties
and are therefore commonly used in the end-use industries of shipping,
aerospace & defense, maritime, electrical & electronics, and wind
energy.
Global
Composites Market: Manufacturing Process
Based on Manufacturing
Process, the Composites market segregated into Lay-up, Filament Winding,
Injection Molding, Pultrusion, Compression Molding, RTM, and Others. The lay-up
manufacturing process is anticipated to account for a significant share of the
composites market during the forecast horizon, due to the increased demand from
wind energy, marine, and aerospace & defense end-use industries. The choice
of the manufacturing process of composites depends mostly on the shape and
dimensions of the components to be made.
Global
Composites Market: End-use industry
Based on End-use Industry
Type, the Composites market segregated into Aerospace & defense, Wind
Energy, Transportation, Construction & Infrastructure, Marine, Pipe &
Tank, Electrical & Electronics, and Others. The transportation segment is
projected to have the largest share in the composites market during the
forecast horizon. Many composites have a higher strength-to-weight ratio than
steel and aluminum. The major driving factors behind the introduction of more
lightweight and fuel-efficient composites in transportation are environmental
regulations relating to emission standards, particularly in North America,
Europe, and China.
Global
Composites Market: Regional insights
By geography, the global Composites Market segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. The Asia Pacific dominated the global composite application market and is expected to continue to dominate over the forecast period, owing to China and India's growing economies, the participation of leading players, and the expansion of transportation, wind, and construction & infrastructure industries. The nation's economic growth is the main factor in high composite consumption. In the region, the transport and construction and infrastructure industries are expanding rapidly, driving demand for composites.
Composites
Market: Competitive Landscape
The major market players in
the Global Composites are Owens Corning, Toray Industries, Inc., Teijin
Limited, Mitsubishi Chemical Holdings Corporation, Hexcel Corporation, SGL
Group, Nippon Electrical Glass Co. Ltd., Koninklijke Ten Cate bv, Huntsman
International LLC., Solvay, MRC, PPG Industries, Inc., E. I. DuPont Nemours
& Co., Weyerhaeuser Company, Chongqing Polycomp International Corporation,
Jushi Group Co., Ltd., Honeywell International Inc., Renegade Materials
Corporation, Kineco Kaman Composites – India Private Limited, Henkel AG &
Co. KGaA, UPM Biocomposites, Trex Company, Inc., Gaffco Ballistics, Binani
Industries Ltd., and other Prominent Players are expanding their presence in
the market by implementing various innovations and technologies.
The
objective of the Study:
To analyze and forecast the
global Composites market size of the market, in terms of value.
To examine the careful
market segmentation and forecast the market size, in terms value, based on the
region by segmenting the Global Composites market into five regions, namely,
North America, Europe, Asia Pacific, Middle East, South America and their
leading countries.
To outline, categorized and
forecast the global Composites market based on the Fiber Type, Resin Type, and
Manufacturing Process, and End-use Industry.
To examine competitive
developments like technological advancement, services, and regulative framework
within the global Composites Market.
To highlight the impact
analysis of the factors, affecting the market dynamics such as drivers,
restraints, opportunities, and challenges.
To strategically profile the
key players and comprehensively analyze their market shares along with
detailing the competitive landscape for market leaders.
Scope
of the Report
By Fiber Type
·
Glass Fiber Composites
·
Carbon Fiber Composites
·
Natural Fiber Composites
·
Other Fiber Composites
By Resin Type
·
Thermoset Composites
·
Thermoplastic Composites
By Manufacturing Process
·
Lay-up
·
Filament Winding
·
Injection Molding
·
Pultrusion
·
Compression Molding
·
RTM
·
Others
By End-use Industry
·
Aerospace & defense
·
Wind Energy
·
Transportation
·
Construction & Infrastructure
·
Marine
·
Pipe & Tank
·
Electrical & Electronics
·
Others
By
Region:
·
Asia Pacific
·
North America
·
Europe
·
Middle East & Africa
·
Latin America
Business
Questions answer by the report
·
How will the market drivers, restraints and
opportunities affect the market dynamics?
·
What will be the market size in terms of
value and volume and market statistics with a detailed classification?
·
Which segment dominates the market or region
and one will be the fastest growing and why?
·
A comprehensive survey of the competitive
landscape and the market participant players
·
Analysis of strategy adopted by the key
player and their impact on other players.
Customization
Scope for the Client
Client satisfaction is our
first and last priority and that is why BlueWeave Consulting offers
customization according to Company’s specific needs. The following customization
options are available for the report:
Additional
Company Information
·
With five additional company detail analysis
·
Additional country analysis
·
Detailed segment analysis
1. Research Framework
1.1. Research
Objective
1.2. Product
Overview
1.3. Market
Segmentation
2. Research Methodology
2.1. Qualitative
Research
2.1.1.
Primary & Secondary Sources
2.2. Quantitative
Research
2.2.1.
Primary & Secondary Sources
2.3. Breakdown
of Primary Research Respondents, By Region
2.3.1.
Secondary Research
2.3.2.
Primary Research
2.4. Breakdown
of Primary Research Respondents
2.5. Market
Size Estimation
2.6. Assumption
for the Study
2.7. Market
Breakdown & Data Triangulation
3. Global Composites Market Industry
Insights
3.1. DROC
Analysis
3.1.1.
Growth Drivers
3.1.2.
Restraints
3.1.3.
Opportunities
3.1.4.
Challenges
3.2. Technological
Landscape
3.3. Regulatory
Framework
3.4. Company
market share analysis,2019
3.5. Porter’s
Five forces analysis
3.5.1.
Bargaining Power of Suppliers
3.5.2.
Bargaining Power of Buyers
3.5.3.
Threat of New Entrants
3.5.4.
Threat of Substitutes
3.5.5.
Intensity of Rivalry
4. Global Composites Market Overview
4.1. Market
Size & Forecast 2016-2026
4.1.1.
By Value (USD)
4.2. Market
Share & Forecast
4.2.1.
By Fiber Type
4.2.1.1.
Glass Fiber Composites
4.2.1.2.
Carbon Fiber Composites
4.2.1.3.
Natural Fiber Composites
4.2.1.4.
Other Fiber Composites
4.2.2.
By Resin Type
4.2.2.1.
Thermoset Composites
4.2.2.2.
Thermoplastic Composites
4.2.3.
By Manufacturing Process
4.2.3.1.
Lay-up
4.2.3.2.
Filament Winding
4.2.3.3.
Injection Molding
4.2.3.4.
Pultrusion
4.2.3.5.
Compression Molding
4.2.3.6.
RTM
4.2.3.7.
Others
4.2.4.
By End-use industry
4.2.4.1.
Aerospace & defense
4.2.4.2.
Wind Energy
4.2.4.3.
Transportation
4.2.4.4.
Construction & Infrastructure
4.2.4.5.
Marine
4.2.4.6.
Pipe & Tank
4.2.4.7.
Electrical & Electronics
4.2.4.8.
Others
4.2.5.
By Region
4.2.5.1.
North America
4.2.5.2.
Europe
4.2.5.3.
Asia Pacific
4.2.5.4.
Latin America
4.2.5.5.
Middle East & Africa
5. North America Composites Market
5.1. Market
estimates & forecast
5.1.1.
By Fiber Type
5.1.2.
By Resin Type
5.1.3.
By Manufacturing Process
5.1.4.
By End-use industry
5.1.5.
By Country
5.1.5.1.
U.S
5.1.5.2.
Canada
6. Europe Composites Market
6.1. Market
estimates & forecast
6.1.1.
By Fiber Type
6.1.2.
By Resin Type
6.1.3.
By Manufacturing Process
6.1.4.
By End-use industry
6.1.5.
By Country
6.1.5.1.
Germany
6.1.5.2.
U.K
6.1.5.3.
France
6.1.5.4.
Italy
6.1.5.5.
Rest of Europe
7. Asia Pacific Composites Market
7.1. Market
estimates & forecast
7.1.1.
By Fiber Type
7.1.2.
By Resin Type
7.1.3.
By Manufacturing Process
7.1.4.
By End-use industry
7.1.5.
By Country
7.1.5.1.
China
7.1.5.2.
India
7.1.5.3.
Japan
7.1.5.4.
Rest of APAC
8. Latin America Composites Market
8.1. Market
estimates & forecast
8.1.1.
By Fiber Type
8.1.2.
By Resin Type
8.1.3.
By Manufacturing Process
8.1.4.
By End-use industry
8.1.5.
By Country
8.1.5.1.
Brazil
8.1.5.2.
Argentina
8.1.5.3.
Rest of Latin America
9. Middle East & Africa Composites
Market
9.1. Market
estimates & forecast
9.1.1.
By Fiber Type
9.1.2.
By Resin Type
9.1.3.
By Manufacturing Process
9.1.4.
By End-use industry
9.1.5.
By Country
9.1.5.1.
Saudi Arabia
9.1.5.2.
UAE
9.1.5.3.
South Africa
9.1.5.4.
Rest of MEA
10.Company Profile (Company Overview,
Financial Matrix, Key Product landscape, Key Personnel, Key Competitors,
Contact Address, and Strategic Outlook) *
10.1.
Owens Corning
10.2.
Toray Industries, Inc.
10.3.
Teijin Limited
10.4.
Mitsubishi Chemical Holdings Corporation
10.5.
Hexcel Corporation
10.6.
SGL Group
10.7.
Nippon Electrical Glass Co. Ltd.
10.8.
Koninklijke Ten Cate bv
10.9.
Huntsman International LLC.
10.10.
Solvay
10.11.
MRC
10.12.
PPG Industries, Inc.
10.13.
E. I. DuPont Nemours & Co.
10.14.
Weyerhaeuser Company
10.15.
Chongqing Polycomp International Corporation
10.16.
Jushi Group Co., Ltd.
10.17.
Honeywell International Inc.
10.18.
Renegade Materials Corporation
10.19.
Kineco Kaman Composites – India Private
Limited
10.20.
Henkel AG & Co. KGaA
10.21.
UPM Biocomposites
10.22.
Trex Company, Inc.
10.23.
Gaffco Ballistics
10.24.
Binani Industries Ltd.
10.25.
Other Prominent Players
*
Financial information of non-listed Companies will be provided as per
availability
**The
segmentation and the companies are subjected to modifications based on in-depth
secondary for the final deliverable
Market Segmentation
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