Composites Market Analysis, Growth rate, Shares, Market Trends and Forecasts to 2026

[supriya Kokate]

The global Composites Market is expected to reach USD 146.14 Billion by 2026, according to a new report by Reports and Data. This can be mainly associated with the rising demand for lightweight materials in defense, aerospace and automotive industries.
Composites are lightweight when compared to most woods, metals, and alloys, which is an essential requirement for automobiles and aerospace industries since reducing the weight reduces the amount of fuel it needs and increases the speeds of the automobiles and aircraft. Furthermore, composites are also resistant to damage from weather, temperature changes, and harsh chemicals along with being non-corrosive. For instance, composites can be a good choice where chemicals are handled or stored.

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Key participants include Owens Corning, Toray Industries, Inc., Teijin Limited, Mitsubishi Chemical Holdings Corporation, SGL Group, Nippon Electric Glass Co. Ltd., Koninklijke Ten Cate BV, Huntsman International LLC., Solvay, Hexcel Corporation, Hexion, E. I. Du Pont Nemours & Co., Weyerhaeuser Company, Chongqing Polycomp International Corporation and Jushi Group Co., Ltd., among others.

For the purpose of this report, Reports and Data have segmented global Composites Market on the basis of resin type, product type, industry vertical, process, and region:
Resin type Outlook (Volume, Kilo tons; 2018-2026 and Revenue, USD Billion; 2018-2026)
• Thermosetting Composites
• Thermoplastic Composites
• Others
Product type Outlook (Volume, Kilo tons; 2018-2026 And Revenue, USD Billion; 2018-2026)
• Polymer Matrix Composites
o Carbon Fiber Reinforced Plastic
o Glass Fiber Reinforced Plastic
o Others (Aramid fiber composites, etc.)
• Metal Matrix Composites
• Ceramic Matrix Composites
Process Outlook (Volume, Kilo tons; 2018-2026 And Revenue, USD Billion; 2018-2026)
• Pultrusion Process
• Layup Process
• Filament Winding
• Compression Molding
• Injection Molding
• Resin Transfer Molding
• Others (Automated fiber placement, automated tape laying, etc.)
Industry vertical Outlook (Volume, Kilo tons; 2018-2026 And Revenue, USD Billion; 2018-2026)
• Automotive & Transportation
• Aerospace & Defense
• Electrical & Electronics
• Wind Energy
• Construction & Infrastructure
• Pipes & Tanks
• Marine
• Others

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Regional Outlook (Volume, Kilo tons; 2018-2026 and Revenue, USD Billion; 2018-2026)

North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Colombia)

Further key findings from the report suggest
• The market is segmented on the basis of resin type into thermoset composites, thermoplastic composites and others.
• Thermoset resin dominated the market, with a share of ~59% in 2018.
• Thermoset composites are synthetic materials that get strengthened when heated without losing their plasticity, suitable for highly corrosive and high-temperature applications and are majorly used in construction & infrastructure, marine, aerospace and wind energy industries.
• The market is segmented on the basis of product type into polymer matrix composite, metal matrix composites, and ceramic matrix composites.
• The market is segmented on the basis of process into pultrusion process, layup process, filament winding, compression molding, injection molding, resin transfer molding, automated fiber placement, and automated tape laying.
• The layup process segment dominated the market in 2018 and is forecasted to have a growth of 6.8% during the forecast period.
• The growth of the segment can be associated with the low-costs incurred during the process, in which the composites are manufactured, and are majorly used by the wind and marine industries.
• The market is segmented on the basis of industry vertical into automotive & transportation, aerospace & defense, electrical & electronics, wind energy, construction & infrastructure, pipes & tanks, marine and others.
• Automotive and transportation dominated the market in 2018, with a share of ~17%, due to advantages of durable and lightweight materials are useful for designing and manufacturing efficiently.
• The market growth in the region is due to the increasing consumption of composites in various industries such as wind energy, construction & infrastructure, aerospace, electrical & electronics, and automotive, particularly in China and Japan.
• The companies have adopted various strategies including mergers, acquisitions and partnerships to hold on going trails and come up with new developments in the market.

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Major selling points of this research report
• Gives the reader a holistic comprehension of the global market
• Identifies the recent trends and estimated growth rate for the forecast duration
• Helps industry experts, investors, and other participants implement lucrative expansion approaches
• Provides accurate market insights to take informed decisions through presentations and other tools
• Outlines the competitive landscapes with the individual market share of top vendors

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