Composites Market: Trends, Opportunities and Competitive Analysis [2024-2030]

Composites Market Trends and Forecast

The future of the global composites market looks promising with opportunities in the transportation, marine, wind energy, aerospace, pipe & tank, construction, E&E, and consumer goods. The global composite materials market is expected to reach an estimated $70 billion by 2030 with a CAGR of 4% from 2023 to 2030. The global composite end product market is expected to reach an estimated of $195.7 billion by 2030. The global composite end product market is expected to reach an estimated of $181.3 billion by 2030. The major drivers for growth in this market are increasing demand for lightweight materials in the aerospace & defense, and automotive industries; corrosion- and- chemical-resistant materials' demand in the construction, and pipe & tank industries; electrical resistivity and high flame retardant materials' demand in the electrical and electronics industry.

Emerging Trends in the Composites Market

Emerging trends, which has a direct impact on the dynamics of the industry, are the development of low-cost carbon fibers, high performance glass fiber, and rapid cure resin system.

A total of 240 figures / charts and 55 tables are provided in this 402-page report to help in your business decisions. A sample figure with insights is shown below.

Composites Market by Segment

The study includes a forecast for the global composites market by end use, manufacturing process, molding compound, resin type, fiber type, fiberglass product form, carbon fiber type, and region as follows:

Composites Market by End Use [Volume (Million Pounds) and Value ($M) Shipment Analysis for 2018 - 2030]:

• Transportation
• Marine
• Wind Energy
• Aerospace
• Pipe & Tank
• Construction
• Electrical & Electronics
• Consumer Goods
• Others

Composites Market by Manufacturing Process [Volume (Million Pounds) and Value ($M) Shipment Analysis for 2018 - 2030]:

• Hand Lay-up
• Spray-up
• Resin Infusion (RRIM, RTM, VARTM)
• Filament Winding
• Pultrusion
• Injection Molding
• Compression Molding
• Prepreg Lay-up
• Other

Composites Market by Molding Compound [Volume (Million Pounds) and Value ($M) Shipment Analysis for 2018 - 2030]:

• SMC
• BMC
• Thermoplastic Compounds ( SFT, LFT, GMT, CFT and Other)

Composites Market by Resin Type [Volume (Million Pounds) and Value ($M) Shipment Analysis for 2018 - 2030]:

• Polyester
• Epoxy
• Vinyl ester
• Phenolic
• Thermoplastics

Composites Market by Fiber Type [Volume (Million Pounds) and Value ($M) Shipment Analysis for 2018 - 2030]:

• Glass fiber
• Carbon fiber
• Aramid fiber

Composites Market by Fiber Glass Product Form [Volume (Million Pounds) and Value ($M) Shipment Analysis for 2018 - 2030]:

• Single End Roving
• Multi End Roving
• DUCS
• Continuous Filament Mat
• Yarn

Composites Market by Carbon Fiber Type [Volume (Million Pounds) and Value ($M) Shipment Analysis for 2018 - 2030]:

• PAN Based Carbon Fiber
• PITCH Based Carbon Fiber

Composites Market by Resin Type [Volume (Million Pounds) and Value ($M) Shipment Analysis for 2018 - 2030]:

• North America
• Europe
• Asia Pacific
• ROW

Composites Market by Country [Volume (Million Pounds) and Value ($M) Shipment Analysis for 2018 - 2030]:

• USA
• Canada
• Mexico
• Germany
• UK
• France
• Italy
• Spain
• Netherland
• China
• India
• Japan
• South Korea
• Brazil
• Russi

List of Composites Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies composites companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the composites companies profiled in this report includes.

• Owens Corning
• Jushi Group
• Nippon Electric Glass Co Ltd.
• CPIC
• Toray Industries
• Hexcel Composites
• Mitsubishi Rayon
• Gurit
• Polynt Reichhold

Composites Market Insight

• Lucintel forecasts construction will remain the largest end use by value and volume due to increasing residential and commercial construction and growth in remolding activities. Aerospace is expected to witness highest growth over the forecast period.
• Transportation will remain the largest end use market over the forecast period due to the increasing production and use of lightweight materials in transportation market. Aerospace is expected to witness the highest growth over the forecast period.
• Asia Pacific is expected to remain the largest region by value and volume, and it is also expected to experience the highest growth over the forecast period because of growth in construction, transportation, and the electrical and electronics segments. The major drivers for growth are increasing automotive production, high growth in construction, and infrastructure development.

Features of Global Composites Market

• Market Size Estimates:Global composites market size estimation in terms of value ($M) and volume (M lbs)
• Trend and Forecast Analysis:Market trends (2018-2023) and forecast (2024-2030) by various segments and regions.
• Segmentation Analysis: : Composites market size by various segments, such as end use, manufacturing process, molding compound, resin type, fiber type, fiberglass type, and carbon fiber type in terms of value and volume
• Regional Analysis:Global composites market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
• Growth Opportunities:Analysis on growth opportunities in different end use, manufacturing process, molding compound, resin type, fiber type, fiberglass type, carbon fiber type, and regions for the composites market
• Strategic Analysis:This includes M&A, new product development, and competitive landscape for the composites market.
• Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. How big is the composites market?

Answer:The global composite material market is expected to reach an estimated $70 billion by 2030.

Q2. What is the growth forecast for composites market?

Answer:The composite material market is expected to grow at a CAGR of 4% from 2023 to 2030.

Q3. What are the major drivers influencing the growth of the composites market?

Answer: The major drivers for growth in this market are increasing demand for lightweight materials in the aerospace & defense, and automotive industries; corrosion- and- chemical-resistant materials' demand in the construction, and pipe & tank industries; electrical resistivity and high flame retardant materials' demand in the electrical and electronics industry.

Q4. What are the major applications or end use industries for global composites?

Answer: Construction and transportation are the major end use for global composites.

Q5. What are the emerging trends in composites market?

Answer:Emerging trends, which has a direct impact on the dynamics of the industry, are the development of low-cost carbon fibers, high performance glass fiber, and rapid cure resin system.

Q6. Which are the key players in composites market?

Answer:Some of the key players in the composites market are as follows:

• Owens Corning
• Jushi Group
• Nippon Electric Glass Co Ltd.
• CPIC
• Toray Industries
• Hexcel Composites
• Mitsubishi Rayon
• Gurit
• Polynt Reichhold

Q7.Which composites material segment will be the largest in future?

Answer: Lucintel forecasts that injection molding is expected to be the largest process in terms of value and volume over the forecast period in composite manufacturing because of high-output production rate, low labor cost, and design flexibility.

Q8. In composites market, which region is expected to be the largest in next 5 years?

Answer:APAC is expected to remain the largest region and witness the highest growth over next 5 years

Q9. Do we receive customization in this report?

Answer:Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions

• Q.1 What are some of the most promising potential, high-growth opportunities for the global composites market by end use (transportation, marine, wind energy, aerospace, pipe & tank, construction, electrical & electronics, consumer goods, and others), manufacturing process (hand lay-up, spray up, resin infusion, filament winding, pultrusion, injection molding, compression molding, prepreg lay up, and others), molding compound (SMC, BMC, and thermoplastic compounds), resin type (polyester, epoxy, vinyl ester, phenolic, and thermoplastic), fiber type (glass fiber composites, carbon fiber composites, and aramid fiber composites), fiberglass type (single end roving, multi end roving, chopped strand, woven roving, fabrics, chopped strand mat, continuous filament mat, and others), carbon fiber type (PAN based carbon fiber and pitched based carbon fiber), and region (North America, Europe, APAC, and ROW)?
• Q. 2 Which segments will grow at a faster pace and why?
• Q.3 Which regions will grow at a faster pace and why?
• Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
• Q.5 What are the business risks and threats to the market?
• Q.6 What are the emerging trends in this market and the reasons behind them?
• Q.7 What are the changing demands of customers in the market?
• Q.8 What are the new developments in the market? Which companies are leading these developments?
• Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
• Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via material or product substitution?
• Q.11 What M & A activities have taken place in the last 5 years in this market?