Stratview Research delivers key insights on the global Composites Market. According to Stratview Research, the market is segmented by Resin Type (Thermoset Composites, Thermoplastic Composites), by Fiber Type (Glass Fiber Composites, Carbon Fiber Composites, Natural Fiber Composites, and Others), by Manufacturing Process Type (Lay-up, Filament Winding, Injection Molding, Pultrusion, Compression Molding, Resin Transfer Molding, and Others), by End-Use Industry Type (Transportation, Aerospace & Defense, Wind Energy, Construction & Infrastructure, Pipes & Tanks, Marine, Electrical & Electronics, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
The report also covers the Covid impact on the market. Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and an uptrend is witnessed from 2021.
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Market Insights
The report suggests that the overall Composites market is likely to witness an impressive CAGR of 6.8% during the forecast period. The prime factor underpinning the demand for composites is the increasing penetration of lightweight materials in various end-use industries such as aerospace & defense, automotive, and wind energy, which is driving the growth of the market.
Market Segments' Analysis
Based on the manufacturing process type, the market is segmented as lay-up, filament winding, injection molding, pultrusion, compression molding, resin transfer molding, and others. The lay-up process type is expected to dominate the market during the forecast period as it is the most cost-effective process, driving the growth of the segment.
Based on the end-use industry type, the composites market is segmented as transportation, aerospace & defense, wind energy, construction & infrastructure, pipes & tanks, marine, electrical & electronics, and others. The transportation segment is expected to dominate the market during the forecast period. Composites offer improved strength-to-weight ratio, which provides lightweight construction and hence, fuel-efficient transportation vehicle.
In terms of regions, Asia-Pacific is estimated to remain the largest market during the forecast period driven by the expanding transportation industry, increasing number of wind turbine installations, and significant growth in construction & infrastructure of the growing economies such as China and India.
Key Players
The following are some of the key players in the Composites Market:
· Hexcel Corporation
· Hexion Inc.
· Huntsman Corporation
· Koninklijke Ten Cate BV
· Mitsubishi Chemical Corporation
· Owens Corning
· SGL Group
· Solvay S.A.
· Teijin Limited
· Toray Industries Inc.
· others.
FREQUENTLY ASKED QUESTIONS
The report answers several questions related to the market. The user can get to know the answers to the following questions…
- What is the global demand for Composites Market in terms of revenue?
- Which are the prominent players in the market?
- At what CAGR is the market projected to grow within the forecast period?
- What are the driving factors fuelling the growth of the market?
- Which region accounted for the largest share in the market?
- How did the Covid19 impacted the market?
- How long will it take to recover from the Covid impact?
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