Picture

Questions?

+1-866-353-3335

SEARCH
What are you looking for?
Need help finding what you are looking for? Contact Us
Compare

PUBLISHER: Ken Research Private Limited | PRODUCT CODE: 1163355

Cover Image

PUBLISHER: Ken Research Private Limited | PRODUCT CODE: 1163355

Global Composites Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 by Fiber Type, End User, Resin Type, Manufacturing Process and Region

PUBLISHED:
PAGES: 150 Pages
DELIVERY TIME: Inquiry
SELECT AN OPTION
Online Access Excel (Single User License)
USD 4000
Online Access PDF (Single User License)
USD 4500
Online Access PDF (Single User License)
USD 5500
Online Access PDF & Excel (Corporate User License)
USD 8000

Add to Cart

Market Overview

A composite is created from two or more constituent materials. These constituent materials are combined to produce a substance with characteristics that are distinct from the constituent parts despite having chemical or physical qualities that are noticeably different. Composites are being increasingly adopted in different industries including electrical & electronics, automotive & transportation, wind energy, aerospace & defense, construction & infrastructure, and others.

According to Ken Research Analysis, the Global Composites Market is expected to record a positive CAGR of ~8% during the forecast period (2022-2028) and is expected to reach approximately US$ 120 billion by 2028.

The desirable performance of composites as well as the high adoption of composites in various end-user industries owing to their properties is positively impacting the market growth.

Customers' needs for a wide range of intricately engineered parts, design patterns, and structures are met through the use of composite materials. The product supports several sectors, including wind power, consumer goods, automotive, aerospace, and the maritime sector. Different materials are used in a variety of ways by these businesses. Regulations, consumer demand, cost criteria, and part performance requirements all influence this usage. For instance, there are significant differences between the materials, costs, and process technology used in the aerospace sector and the car industry. Due to their diversity, these materials can satisfy this wide range of demands. For instance, there are resins, a variety of fibers, equipment, process, and finishing options that can be used to fabricate almost any item for any application.

Concerns about improper disposal and recycling of composite products as well as the high production cost of composites limit the market growth.

Composites recycling and disposal raise problems that need to be resolved. One such problem relates to carbon fiber composites used in hexavalent chromium primer-coated end-of-life aircraft structures. Due to the possibility of the hexavalent chromium in these composites seeping into the ground, they may be categorized as hazardous waste and cannot be disposed of on land.

The COVID-19 outbreak had a huge impact on supply chains since key economies had to halt commerce. Additionally, the demand for composites had decreased across a range of end-use industries, including aerospace, automotive, and construction. However, the situation improved in 2021 due to the removal of trade barriers, which restored the market's growth trajectory.

Scope of the Report

The Composites Market is segmented by fiber type, end-user, resin type, and manufacturing process. In addition, the report also covers market size and forecasts for the four major regions' Composites Market. The revenue used to size and forecast the market for each segment is US$ billion.

By Fiber Type

Glass Fiber Composites

Carbon Fiber Composites

By End User

Electrical & Electronics

Automotive & Transportation

Wind Energy

Aerospace & Defence

Construction & Infrastructure

Other

By Resin Type

Thermoset Composites

Thermoplastic Composites

By Geography

North America (USA, Canada, and Mexico)

Europe (Germany, UK, France, Spain, and Italy)

Asia Pacific (China, Japan, South Korea, India, Indonesia, and Australia)

LAMEA (Latin America, Middle East, and Africa)

Key Players

Huntsman Corporation LLC

SGL Group

Teijin Ltd

CooperVision

DuPont

Owens Corning

Toray Industries, Inc.

Mitsubishi Chemical Holdings Corporation

Solvay

Exel Group

DOW

Key Trends by Market Segment

By Fiber Type: The carbon fiber composites segment held the largest market share in the Global Composites Market in 2021.

Carbon atoms are bonded in parallel crystals to create carbon fiber, which is then combined with other materials to create composites. Due to their beneficial characteristics, including high stiffness, low thermal expansion, good chemical resistance, high-temperature tolerance, and low weight, these fibers are used in industrial and manufacturing applications.

The strength and endurance of these Composites have been improved due to technical improvements, which have expanded their penetration in pipe production applications. The market is expected to be supported throughout the forecast period by rising demand for high-strength materials in the automotive and aerospace sectors.

By Resin Type: The thermoset composites resin type segment held the largest share of the Global Composites Market in 2021.

The significant growth in demand for thermoset composites in sectors of aerospace, transportation, and defense is boosting the market growth. Glass, carbon, and aramid fibers are the usual building blocks of thermoset composite, which is frequently mixed with resins such as epoxies, phenolics, vinyl esters, polyesters, cyanate esters, and polyimides.

By End-User: The automotive & transportation end-user segment held the largest share of the Global Composites Market in 2021.

Over the foreseeable term, this market segment is likely going to continue to lead. The transportation industry benefits from composites since the components are much lighter in weight, increasing fuel economy.

It is anticipated that rising consumer and industry demand for high-tech electronics would increase demand for composite materials. Terminal boxes, electrical enclosures, lamp housings, sockets, plugs, and parts for the distribution of energy are some of the electrical and electronics applications for composites that are most frequently used.

By Manufacturing Process: The layup process segment held the largest share of the Global Composites Market in 2021.

The layup method dominated the market and generated a sizeable portion of revenue when it came to the production of composites. Over the course of the forecast period, rising production of boats, wind turbine blades, and architectural moldings are anticipated to propel the growth of the layup process sector in the worldwide composites market.

Over the course of the projection period, rising output in the automotive and marine industries is anticipated to provide growth chances for the filament winding process. Golf club shafts, car drive shafts, tiny aircraft fuselages, spaceship structures, pressure vessels like firefighter oxygen canisters, and other products have all been made possible by improvements in the filament winding process.

By Geography: Asia Pacific accounted for the largest market share in 2021 within the total Global Composites Market.

Historically, Japan, North America, and Europe dominated the glass fiber and carbon fiber composites market. However, there has been a noticeable trend in recent years toward the developing economies in Asia Pacific and the rest of the world.

For instance, the significant demand for low-cost carriers has raised the market for glass fiber and carbon fiber composites in the aircraft, wind energy, and transportation sectors in rising nations like India, Brazil, and China. China, whose rapid industrialization is anticipated to meet the growth in demand, has started several research projects involving glass fiber and carbon fiber composites.

Competitive Landscape

The Global Composites Market is highly competitive with ~500 players which include globally diversified players, regional players as well as a large number of country-niche players.

Large global players hold the highest market share of 45% which is followed by the regional players holding a 30% share. Some of the major players in the market include Huntsman Corporation LLC, SGL Group, Teijin Ltd., CooperVision, DuPont, Owens Corning, Toray Industries, Inc., Mitsubishi Chemical Holdings Corporation, Solvay, Exel Group, DOW, and others.

Recent Developments Related to Major and Emerging Companies

In September 2019, Solvay, at its USA facility in Anaheim, California, increased its capacity for thermoplastic composites by adding a new production line for meeting the strong demand growth from aerospace customers for this high-performance material and Solvay's proprietary and distinctive technology.

In July 2021, Hexcel, a leader in advanced composites technology, reported that a lightweight camera drone it built utilizing Hexcel HexPly carbon fiber prepregs completed its first flight. A group of students from the University of Applied Sciences Upper Austria in Wels created the composite drone using components provided by Hexcel Neumarkt in Austria.

In September 2019, the acquisition of Ashland Global Holdings Inc.'s composites business by INEOS Enterprises had been announced. A BDO office in Germany is also part of the acquisition. The companies involved in the transaction generate more than US$1.1 billion in annual sales. Over 19 locations in Europe, North and South America, Asia, and the Middle East, have 1,250 employees.

Conclusion

The Global Composites Market is forecasted to continue a gradual growth that is witnessed during the forecast period. Key trends driving market expansion include a rise in demand from end-user industries like automotive and transportation. Demand has increased as a result of improved qualities such as high strength and modulus, long fatigue life, acoustic insulation, reduced weight, and corrosion resistance. The market is highly competitive with ~500 participants concentrating on expansion strategies through product innovations as well as acquisitions and mergers.

Note: This is an On-Demand/Planned report, so the figures quoted here for a market size estimate, forecast, growth, segment share, and competitive landscape are based on initial findings and might vary slightly in the actual report. Also, any required customizations can be covered to the best feasible extent for Pre-booking clients, and the report delivered within a maximum of two working weeks.

Key Topics Covered in the Report

Snapshot of the Global Composites Market

Industry Value Chain and Ecosystem Analysis

Market size and Segmentation of the Global Composites Market

Historic Growth of the Overall Global Composites Market and Segments

Competition Scenario of the Market and Key Developments of Competitors

Porter's 5 Forces Analysis of the Global Composites Market

Overview, Product Offerings, and SWOT Analysis of Key Competitors

COVID-19 Impact on the Overall Global Composites Market

Future Market Forecast and Growth Rates of the Total Global Composites Market and by Segments

Market Size of Fiber Type / End User Segments with Historical CAGR and Future Forecasts

Analysis of the Composites Market in Major Regions

Major Production / Consumption Hubs in the Major Regions

Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments

Overview of Notable Emerging Competitor Companies within Each Major Country

Major Players Mentioned in the report

Huntsman Corporation LLC

SGL Group

Teijin Ltd

CooperVision

DuPont

Owens Corning

Toray Industries, Inc.

Mitsubishi Chemical Holdings Corporation

Solvay

Exel Group

DOW

Notable Emerging Companies Mentioned in the Report

Capricorn Composite GmbH

Aircraft Composites Sachsen GmbH

Fibrolux GmbH

Hexcel Corporation

INEOS Enterprises

Bally Ribbon Mills

Key Target Audience - Organizations and Entities Who Can Benefit by Subscribing This Report

Composites Manufacturers

Glass Fiber Composites Manufacturers

Insulation Manufacturers

Raw Material Suppliers for Composites

Composites Research and Development Institutes

Market Research & Consulting Firms

Banking and Financial Service Providers

Hardware Electronics Suppliers

Auto Component Manufacturers

Government & Regulatory Authorities

Chemical Research Institutes

Specialty Chemicals Material Suppliers

Investors in Chemicals Industry

Start-ups & Incumbents in Chemical Industry

Chemical Testing & Inspection Companies

Government Ministries and Departments of Chemicals Industry

PE and VC Firms focused on Chemicals Industry

Potential Entrants into Composites Industry

Time Period Captured in the Report

Historical Period: 2017-2021

Forecast Period: 2022E-2028F

Frequently Asked Questions

What is the Study Period of this Market Report?

The Global Composites Market is covered from 2017-2028 in this report, which includes a forecast for the period 2022E-2028F.

What is the Future Growth Rate of the Global Composites Market?

The Global Composites Market is expected to witness a CAGR of about 7% over the next six years.

What are the Key Factors Driving the Global Composites Market?

The rise in demand from end-user industries like automotive and transportation is expected to be a key driver of this market. Demand has increased as a result of improved qualities such as high strength and modulus, long fatigue life, acoustic insulation, reduced weight, and corrosion resistance.

Which is the Largest Fiber Type Segment within the Global Composites Market?

The carbon fiber composites fiber type segment held the largest share of the Global Composites Market in 2021.

Who are the Key Players in Global Composites Market?

Huntsman Corporation LLC, SGL Group, Teijin Ltd., CooperVision, DuPont, Owens Corning, Toray Industries, Inc., Mitsubishi Chemical Holdings Corporation, Solvay, Exel Group, DOW, among others are the major companies operating in the Global Composites Market.

Product Code: KRBR121

Table Of Contents

Scope:

1. Executive Summary

  • 1.1 Highlights of Global Composites Market Historic Growth & Forecast
  • 1.2 Highlights of Market Trends, Challenges, and Competition
  • 1.3 Highlights of Market Revenue Share by Segments

2. Market Overview and Key Trends Impacting Growth

  • 2.1 Global Composites Market Taxonomy
  • 2.2 Industry Value Chain
  • 2.3 The Ecosystem of Major Entities in the Global Composites Market
  • 2.4 Government Regulations & Developments
  • 2.5 Key Growth Drivers & Challenges Impacting the Market
  • 2.6 COVID-19 Impact on the Global Composites Market
  • 2.7 Total Global Composites Market Historic Growth by Segment Type, 2017-2021

2.7.1 By Fiber Type

2.7.2 By End User

2.7.3 By Resin Type

2.7.4 By Manufacturing Process

2.7.5 By Regions

  • 2.8 Total Global Composites Market Historic Growth and Forecast, 2017-2028
  • 2.9 Key Takeaways

3. Global - Market Segmentation by Product, Historic Growth, Outlook & Forecasts

  • 3.1 Market Definition - Segmentation by Fiber Type
  • 3.2 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Fiber Type, 2017-2028

3.2.1 Glass Fiber Composites

3.2.2 Carbon Fiber Composites

  • 3.3 Key Takeaways from Market Segmentation by Fiber Type

4. Global - Market Segmentation by End User, Historic Growth, Outlook & Forecasts

  • 4.1 Market Definition - Segmentation by End User
  • 4.2 Market Revenue Share, Historic Growth, Outlook, and Forecasts by End User, 2017-2028

4.2.1 Electrical & Electronics

4.2.2 Automotive & Transportation

4.2.3 Wind Energy

4.2.4 Aerospace & Defence

4.2.5 Construction & Infrastructure

4.2.6 Other

  • 4.3 Key Takeaways from Market Segmentation by End User

5. Global - Market Segmentation by Resin Type, Historic Growth, Outlook & Forecasts

  • 5.1 Market Definition - Segmentation by Resin Type
  • 5.2 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Resin Type, 2017-2028

5.2.1 Thermoset Composites

5.2.2 Thermoplastic Composites

  • 5.3 Key Takeaways from Market Segmentation by Resin Type

6. Global - Market Segmentation by Manufacturing Process, Historic Growth, Outlook & Forecasts

  • 6.1 Market Definition - Segmentation by Manufacturing Process
  • 6.2 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Manufacturing Process, 2017-2028

6.2.1 Injection Molding Process

6.2.2 Resin Transfer Molding Process

6.2.3 Pultrusion Process

6.2.4 Layup Process

6.2.5 Filament Winding Process

6.2.6 Other

  • 6.3 Key Takeaways from Market Segmentation by Manufacturing Process

7. Industry / Competition Analysis - Competitive Landscape

  • 7.1 Products of Players (Competitors) & Share of Competition
  • 7.2 Porter's 5 Forces Analysis of Global Composites Competitors
  • 7.3 Key Developments in the Global Composites Sector Impacting Market Growth
  • 7.4 Comparison of Leading Competitors within the Global Composites Market, 2021
  • 7.5 Comparison of Leading Competitors within the Global Composites Market by Coverage of Fiber Type, 2021
  • 7.6 Comparison of Leading Competitors within the Global Composites Market by Coverage of End User, 2021
  • 7.7 Comparison of Leading Competitors within the Global Composites Market by Coverage of Resin Type, 2021
  • 7.8 Comparison of Leading Competitors within the Global Composites Market by Coverage of Manufacturing Process, 2021
  • 7.9 Comparison of Leading Competitors within the Global Composites Market by Coverage of Regions, 2021
  • 7.10 Key Takeaways from Competitive Landscape

8. Key Competitor Profiles (Company Overview, Product Offerings, SWOT Analysis)

  • 8.1 Huntsman Corporation LLC
  • 8.2 SGL Group
  • 8.3 Teijin Ltd
  • 8.4 CooperVision
  • 8.5 DuPont
  • 8.6 Owens Corning
  • 8.7 Toray Industries, Inc.
  • 8.8 Mitsubishi Chemical Holdings Corporation
  • 8.9 Solvay
  • 8.10 Exel Group
  • 8.11 DOW

9. Geographic Analysis & Major Regions Market Historic Growth, Outlook, and Forecasts

  • 9.1 Major Region Comparison of Macroeconomic Factors
  • 9.2 Total Global- Market Revenue Share, Historic Growth, Outlook and Forecasts by Geography, 2017-2028
  • 9.3 Major Region Market Analysis, Historic Growth, Outlook & Forecasts, 2017-2028
  • 9.4 North America - Composites Market Analysis

9.4.1 Major Production and Consumption Hubs in North America

9.4.2 Notable Emerging Composites Companies in North America

9.4.3 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Fiber Type, 2017-2028

9.4.4 Market Revenue Share, Historic Growth, Outlook, and Forecasts by End User, 2017-2028

9.4.5 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Resin Type, 2017-2028

9.4.6 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Manufacturing Process, 2017-2028

9.4.7 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Major Countries, 2017-2028

9.4.7.1 USA

9.4.7.2 Canada

9.4.7.3 Mexico

  • 9.5 Europe- Composites Market Analysis

9.5.1 Major Production and Consumption Hubs in Europe

9.5.2 Notable Emerging Composites Companies in Europe

9.5.3 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Fiber Type, 2017-2028

9.5.4 Market Revenue Share, Historic Growth, Outlook, and Forecasts by End User, 2017-2028

9.5.5 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Resin Type, 2017-2028

9.5.6 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Manufacturing Process, 2017-2028

9.5.7 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Country, 2017-2028

9.5.7.1 Germany

9.5.7.2 UK

9.5.7.3 France

9.5.7.4 Spain

9.5.7.5 Italy

9.5.7.6 Rest of Europe

  • 9.6 Asia-Pacific- Composites Market Analysis

9.6.1 Major Production and Consumption Hubs in Asia-Pacific

9.6.2 Notable Emerging Composites Companies in Asia-Pacific

9.6.3 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Fiber Type, 2017-2028

9.6.4 Market Revenue Share, Historic Growth, Outlook, and Forecasts by End User, 2017-2028

9.6.5 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Resin Type, 2017-2028

9.6.6 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Manufacturing Process, 2017-2028

9.6.7 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Major Countries, 2017-2028

9.6.7.1 China

9.6.7.2 Japan

9.6.7.3 South Korea

9.6.7.4 India

9.6.7.5 Indonesia

9.6.7.6 Australia

9.6.7.7 Rest of Asia Pacific

  • 9.7 LAMEA - Composites Market Analysis

9.7.1 Major Production and Consumption Hubs in LAMEA

9.7.2 Notable Emerging Composites Companies in LAMEA

9.7.3 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Fiber Type, 2017-2028

9.7.4 Market Revenue Share, Historic Growth, Outlook, and Forecasts by End User, 2017-2028

9.7.5 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Resin Type, 2017-2028

9.7.6 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Manufacturing Process, 2017-2028

9.7.7 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Major Sub-Regions, 2017-2028

9.7.7.1 Latin America

9.7.7.2 Middle East

9.7.7.3 Africa

10. Industry Expert's Opinions/Perspectives

  • 10.1 Notable Statements/Quotes from Industry Experts and C-Level Executives on Current Status and Future Outlook of the Market

11. Analyst Recommendation

  • 11.1 Analyst Recommendations on Identified Major Opportunities and Potential Strategies to Gain from Opportunities

12. Appendix

  • 12.1 Research Methodology - Market Size Estimation, Forecast, and Sanity Check Approach
  • 12.2 Sample Discussion Guide

Disclaimer

Have a question?
Picture

Jeroen Van Heghe

Manager - EMEA

+32-2-535-7543

Picture

Christine Sirois

Manager - Americas

+1-860-674-8796

Questions? Please give us a call or visit the contact form.
Hi, how can we help?
Contact us!