The Composites Market size was valued at USD 113.6 Billion in 2022 and the total Composites Market revenue is expected to grow at a CAGR of 8.2 % from 2023 to 2029, reaching nearly USD 213.40 Billion.
Composites Market Overview:
This Composites market study looks at current and emerging industry trends and dynamics in the global Composites market. Composites Extensive market forecasting for the major market segments is carried out between 2022 and 2029. Extensive Composites market analysis is carried out by closely monitoring key product positions and the main competitors in the market framework. To understand the competitive landscape of the worldwide Composites market, key players are profiled and their strategies are thoroughly evaluated.
Market Scope:
The analysis contains a current examination of the present Composites market landscape, as well as the most recent trends and drivers, as well as an overview of the entire Composites market environment. Increased demand for Composites is driving the market. The Composites market research examines the technology, end-user, and type categories, among other things, as well as the geographical landscape.
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Segmentation:
By Fiber Type: Glass Fiber Composites, Carbon Fiber Composites, and Natural Fiber Composites are the major segments that make up the Composites market. Over the course of the forecast period, glass fiber composites are anticipated to dominate the composites market. Glass Fiber Composites (GFC) are a kind of fiber-reinforced polymer composites with a variety of remarkable features that make them a key market driver in the composites industry. GFC is widely used in a variety of industries, such as construction, automotive, and aerospace, due to its low density, high strength, and ease of processing. GFC’s adaptability enables it to satisfy the unique structural material needs for a wide range of applications.
Key Players:
The market research report provides comprehensive quantitative insights that provide a clear picture of the worldwide market potential in a variety of categories, as well as country-by-country analyses in each covered topic. The analysis investigates the market’s major influencing factors, as well as complete company profiles of
1. Teijin Limited – Tokyo, Japan
2. Toray Industries – Tokyo, Japan
3. Owens Corning – Toledo, Ohio, USA
4. PPG Industries – Pittsburgh, Pennsylvania, USA
5. Huntsman Corporation – The Woodlands, Texas, USA
6. Hexcel Corporation – Stamford, Connecticut, USA
7. E. I. DuPont Nemours & Co. (commonly known as DuPont) – Wilmington, Delaware, USA
8. Faurecia – Nanterre, France
9. Performance Composites Inc. – Compton, California, USA
10. Enduro Composites – Houston, Texas, USA
11. KINECO – Goa, India
12. Creative Composites Ltd. – Lisburn, Northern Ireland, UK
13. HITCO Carbon Composites – Gardena, California, USA
14. Quadrant Group of Companies – Zurich, Switzerland
15. BGF Industries – Greensboro, North Carolina, USA
16. FACC AG – Ried im Innkreis, Austria
17. Premium Aerotec – Augsburg, Germany
18. Fokker Aerostructures – Papendrecht, Netherlands
19. COTESA GmbH – Mittweida, Germany
20. Wethje Carbon Composites – Hengersberg, Germany
21. VELLO NORDIC AS – Drammen, Norway
22. Fiberdur GmbH & Co. KG – Kronberg, Germany
23. Akiet B.V. – Lemmer, Netherlands
Regional Analysis:
Individual market influencing variables and changes in market laws that impact present and future market trends are also included in the regional segment of the Composites market study. Data points such as downstream and upstream value chain analysis, technology trends, porter’s five forces analysis, and case studies are just a few of the indicators utilized to anticipate market scenarios for various industries. When examining projection data for the region, the existence and availability of global players, as well as the obstacles they face as a result of substantial or low to none competition from local and domestic brands, are all taken into account.
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COVID-19 Impact Analysis on Composites Market:
The COVID-19 epidemic has had a significant impact on the global Composites industry. Composites Production facilities were halted due to the global economic slump and a lack of manpower. The COVID-19 pandemic has led to a significant and extended drop in production utilization, and travel prohibitions and facility closures have kept personnel away from their facilities, causing the Composites market to decelerate in 2020. The negative impact of COVID-19 on the Composites market, on the other hand, is expected to be transitory, and the sector is expected to revive significantly by early 2022, owing to increased demand for Composites.
Key Questions Answered in the Composites Market Report are:
- Which segment was responsible for the largest share in the Composites market?
- How was the competitive scenario of the Composites market in 2022?
- Which are the key factors responsible for the Composites market growth?
- Which region held the maximum share in the Composites market in 2022?
