Composites Global Market Report 2022

“Composites Global Market Report 2022” from The Business Research Company provides the strategists, marketers and senior management with the critical information they need to assess the global composites market.

This report focuses on composites market which is experiencing strong growth. The report gives a guide to the composites market which will be shaping and changing our lives over the next ten years and beyond, including the markets response to the challenge of the global pandemic.

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• Report will be updated with the latest data and delivered to you within 3-5 working days of order.

Where is the largest and fastest growing market for the composites? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The Composites market global report” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider composites market, and compares it with other markets.

• The market characteristics section of the report defines and explains the market.

• The market size section gives the market size ($b) covering both the historic growth of the market, the influence of the COVID-19 virus and forecasting its growth.

• Market segmentations break down market into sub markets.

• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.

• Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.

• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

• The composites market section of the report gives context. It compares the composites market with other segments of the composites market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, composites indicators comparison.

Scope

Markets Covered:

• 1) By Product: Carbon Fiber; Glass Fiber

• 2) By Manufacturing Process: Layup Process; Filament Winding Process; Injection Molding Process; Pultrusion Process; Compression Molding Process; Resin Transfer Molding Process; Others

• 3) By Resin Type: Thermoset Composites; Thermoplastic Composites

• 4) By End-Use Industry: Aerospace and defense; Wind Energy; Automotive and Transportation; Construction & Infrastructure; Marine; Pipe and Tank; Electrical and Electronics; Others

• Companies Mentioned: DuPont; Gurit; Henkel Corporation; Hexcel Corporation; Huntsman International LLC.

• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA

• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

• Time series: Five years historic and ten years forecast.

• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,

• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.

• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.

Executive Summary

Major players in the composites market are: DuPont, Gurit, Henkel Corporation, Hexcel Corporation, Huntsman International LLC., Kineco Limited, Koninklijke Ten Cate BV, Mitsubishi Chemical Holdings Corporation, Nippon Electrical Glass Co. Ltd. (Japan), Owens Corning, SGL Group, Teijin Limited, Toray Industries, Veplas Group, Weyerhaeuser Company, BASF SE, and BGF Industries Inc.

The global composites market is expected to grow from $80.21 billion in 2021 to $87.86 billion in 2022 at a compound annual growth rate (CAGR) of 9.53%. The growth is mainly due to the companies' resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $131.66 billion in 2026 at a CAGR of 10.64%.

The composite market consists of the sales of composite materials by entities (organizations, partnerships, and sole proprietors) that refer to the material as a combination of two materials with different physical and chemical properties that have excellent strength-to-weight ratios and durability and are stronger than those individual materials by themselves. Some of the applications for these products include aerospace, automotive, and high-tech electronics. They are corrosion resistant, durable, and have a lighter weight than most metals.

Asia-Pacific was the largest region in the composites market in 2021 and is also expected to be the fastest-growing region in the forecast period. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The components of the composites market are carbon fiber and glass fiber. Carbon fibre is a lightweight but very strong material. Carbon fibre is more firm than steel and five times stronger than it. The manufacturing process for these composites includes the layup process; filament winding process; injection moulding process; pultrusion process; compression moulding process; resin transfer moulding process; and others. They are divided based on resin type into thermoset composites and thermoplastic composites. Composites are used by various end users, such as aerospace and defense, wind energy, automotive and transportation, construction and infrastructure, marine, pipe and tank, electrical and electronics, and others.

Growth in the automotive and aerospace sectors is expected to propel the growth of the composites market. In the automotive and aerospace industries, composites are used for providing improved performance, corrosion resistance, and fuel savings. According to the International Trade Administration, in 2020, aircraft manufacturing and repair services in Australia generated revenue in excess of US$2.0 billion. Also, according to IBEF, the Indian automobile exports stood at 1,419,430 units from April 2021 to June 2021 as compared to 436,500 units from April 2020 to June 2020. Therefore, the growth in automotive and aerospace sectors is driving the growth of the composites market.

The composite market consists of the sales of composite materials by entities (organizations, partnerships, and sole proprietors) that refer to the material as a combination of two materials with different physical and chemical properties that have excellent strength-to-weight ratios and durability and are stronger than those individual materials by themselves. Some of the applications for these products include aerospace, automotive, and high-tech electronics. They are corrosion resistant, durable, and have a lighter weight than most metals. sectors is expected to propel the growth of the composites market. In the automotive and aerospace industries, composites are used to provide improved performance, corrosion resistance, and fuel savings. According to the International Trade Administration, in 2020, aircraft manufacturing and repair services in Australia generated revenue in excess of $2.0 billion. Also, according to IBEF, Indian automobile exports stood at 1,419,430 units from April 2021 to June 2021 as compared to 436,500 units from April 2020 to June 2020. Therefore, the growth in the automotive and aerospace sectors is driving the growth of the composites market.

Technological advancements are a key trend gaining popularity in the composites market. Technological advancements to reduce composite structural mass are a type of knowledge discovery that advances technology.For instance, in June 2021, Hexcel Corporation, a US-based manufacturer of reinforcement products, composite materials, and engineered products, successfully launched the first successful maiden flight of a lightweight camera drone, using Hexcel HexPly carbon fibre prepregs. The composite drone was created by a group of students from the University of Applied Sciences Upper Austria in Wels using composite materials provided by Hexcel. The material allowed the team to lower the composite structural mass by 42% when compared to similar drones.

In September 2019, Ineos Group Ltd., a UK-based manufacturer of petrochemicals, specialty chemicals, and oil products, acquired the entire composites business from Ashland Global Holdings Inc. for a deal amount of $1.1 billion. The acquisition is expected to provide new opportunities for INEOS to enter the composites market, and Ashland's Composites Business will become INEOS Composites. Ashland Global Holdings, Inc. is a US-based manufacturer of adhesives, architectural coatings, automotive, construction, energy, food and beverage, personal care, and pharmaceuticals.

The countries covered in the composites market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.