Composites Market Growth Insights, Share, Size and Trends Analysis by Key Competitors till 2026

(The Express Wire via Comtex)

The globalComposites Market Sizeis expected to reachUSD 163.23 billionby 2026, exhibit aCAGR of 7.26%during the forecast period. The market size stood atUSD 93.68 billionin 2018.

The chemical business contains the organizations that produce modern chemical compounds. Vital to the cutting edge world economy, it changes over crude materials (oil, gaseous petrol, air, water, metals, and minerals) into in excess of 70,000 distinct items. The plastics industry contains some cover, as some substance organizations produce plastics just as chemicals.

Different experts are associated with the chemicals market including compound specialists, physicists and lab professionals. Starting at 2018, the chemical business includes roughly 15% of the US manufacturing economic area.

The global Composites market report contains market revenue, market share, and production of the service providers is also mentioned with accurate data. Moreover, the global market report majorly focuses on the current developments, new possibilities, advancements, as well as dormant traps. Furthermore, the market report offers a complete analysis of the current situation and the advancement possibilities of the market across the globe.

This report analyses substantial key components such as production, capacity, revenue, price, gross margin, sales revenue, sales volume, growth rate, consumption, import, export, technological developments, supply, and future growth strategies.

The global Composites market is anticipated to gain momentum from their possession of several beneficial properties. Composites have long lifespan, high strength, and are capable of resisting corrosion. They are mainly used to build resilient structures such as seawalls, bridges, drainage/water systems, and roads.Fortune Business Insights™provided this information in a recent study, titled, “Composites Market Size, Share and Industry Analysis, By Matrix (Polymer matrix Composites, Ceramic matrix Composites and Metal matrix Composites), by Polymer matrix Composites (Fiber {Glass, Carbon, Aramid} and Resin {Thermoset, Thermoplastics}), by Application, and Regional Forecast, 2019-2026.” The study further mentions that the Composites market size stood atUSD 93.68 billionin 2018 and is projected to reachUSD 163.23 billionby 2026, thereby exhibiting a CAGR of 7.26% in the forecast period.

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Highlights of the Report:

  • Extensive research on the influential vendors and enterprises present in the market.
  • Notable technological advancements, prevalence expansion strategies, and import and export status of the participants.
  • A conclusion with elaborate data triangulation and breakdown.
  • 360-degree overview of the competitive landscape.

Drivers and Restraints-

Ability to Fulfil Changing Consumer Demand to Aid Growth

Composites are considered to be global entities that help in fulfilling the growing demand of the consumers for a wide range of unique composite structures, design patterns, and highly engineered parts. The market is capable of serving numerous highly vertical industries, such as wind power, consumer goods, marine, aerospace, and automotive. These industries use Composites as per their cost thresholds, consumer demand, regulations, and part performance requirements. In the aerospace industry, for instance, the process technology, cost, and material vary greatly, as compared to the automotive industry. Being diverse materials, Composites can be adopted in a large number of applications. They are very durable, lightweight, stiff, and robust. However, the strict environmental legislation and rules may obstruct the Composites market growth in the near future.

Segment-

Need to Lower Weight of Vehicles to Drive Growth of Automotive Segment

In terms of application, the market is grouped into defence and aviation, maritime, wind power, consumer goods, pipes and tanks manufacturing, electrical and electronics goods, building and construction, automotive, and others. Out of these, the automotive segment held 28.78% Composites market share in 2018. This growth is attributable to the increasing usage of Composites in the industry to lower the weight of the vehicles.

Regional Analysis-

Asia Pacific to Lead Stoked by the Presence of Numerous Industry Giants

Asia Pacific is expected to dominate the market throughout the forthcoming years backed by the rising demand for Composites from well-developed industries, such as electrical and electronics, automotive and transportation, building and construction, and aerospace. Apart from that, the rapid urbanization in several countries in this region is opening doors to opportunities for industry giants, such as Mitsubishi and Toray. These companies are opening their offices in Asia Pacific. North America, on the other hand, procured USD 27.61 billion revenue in 2018. It is anticipated to remain in the second position owing to the high demand from the aerospace and defense industry.

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Competitive Landscape-

Key Players Focus on the Strategy of Acquisition to Strengthen Position

The companies present in the market are constantly focusing on strengthening their position and expanding their product portfolio. To do these, they are adopting the strategy of mergers and acquisitions. Below are two of the latest industry developments:

  • September 2019: The entire Composites business of Ashland Global Holdings Inc. was successfully acquired by INEOS Enterprises. The deal also includes the acquisition of the company’s BDO facility located in Germany. It would help INEOS to fulfil its goal of becoming one of the leading specialty chemical companies in the market.
  • July 2019: Matrix Composites, Inc. was acquired by ITT Inc. to improve the latter’s product portfolio with technologically advanced and differentiated businesses. It would also refine Matrix’s ability to better serve its existing and new aerospace consumer with the help of an expanded set of composite skills.

Fortune Business Insights™ lists out the names of all the Composites manufacturers operating in the global market. They are as follows:

  • Huntsman International LLC.
  • Owens Corning
  • Teijin Limited
  • Hexcel Corporation
  • Toray Industries, Inc.
  • Composite Solutions
  • Mitsubishi Chemical Holdings Corporation
  • Exel Group
  • SGL Carbon
  • Veplas D.D.
  • Solvay
  • Others

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Detailed Table of Content:

  • Introduction
    • Research Scope
    • Market Segmentation
    • Research Methodology
    • Definitions and Assumptions
  • Executive Summary
  • Market Dynamics
    • Market Drivers
    • Market Restraints
    • Market Opportunities
  • Key Insights
    • Key Industry Trends
    • Overview of Global Composites Production
  • Global Composites Market Analysis, Insights and Forecast, 2015-2026
    • Key Findings / Summary
    • Market Analysis, Insights and Forecast By Matrix
      • Polymer matrix Composites
        • Fiber
          • Glass
          • Carbon
          • Aramid
        • Resin
          • Thermoset
          • Thermoplastic
      • Ceramic matrix Composites
      • Metal matrix Composites
    • Market Analysis, Insights and Forecast By Application
      • Automotive
      • Building and construction
      • Electrical and Electronics goods
      • Pipes and tank manufacturing
      • Consumer goods
      • Wind power
      • Maritime
      • Defence and Aviation
      • Others
    • Market Analysis, Insights and Forecast By Region
      • North America
      • Europe
      • Asiapacific
      • Latin America
      • Middle EastandAfrica

TOC Continued….!

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Press Release Distributed by The Express Wire

To view the original version on The Express Wire visit Composites Market Growth Insights, Share, Size and Trends Analysis by Key Competitors till 2026

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COMTEX_388133523/2598/2021-06-11T06:56:50