Global Composite Materials Market Report

The global demand for Composite Materials Market is presumed to reach the market size of nearly USD XX MN by 2028 from USD XX MN in 2021 with a CAGR of XX% under the study period of 2022 - 2028. Regarding volume, the market was calculated XX Kilo Tons in 2021 and forecast to touch XX Kilo Tons by 2028 with a CAGR of XX% during 2022-2028.

Composite material is made up of two separate materials which have diverse physical and chemical characteristics. When these are mixed, it is specialized to perform a certain function, like becoming stronger, lighter, or more electrically resistant. The resulting substance differs from the two-parent components across several aspects. For the creation of sophisticated items such as prosthetics, innovative orthopedic implants, and body implants, composite materials are employed in place of plastic, steel, and aluminum. Composite materials are also employed in dentistry as fillings for natural teeth and for restoration plus are used in implants, operations, prosthetic limbs, diagnostics, and tool materials. 

Market Dynamics

The composites market's future appears promising, with prospects in transportation, building, wind energy, pipe and tank, marine, consumer products, electrical and electronics, aerospace, and other industries. The major drivers of growth in this market are rising demand for lightweight materials in the aerospace, defense and automotive industries, as well as corrosion and chemical resistance materials in the construction and pipe and tank industries, and electrical resistivity and high flame retardant materials in the electrical and electronics industries. Due to high research and development expenses, high production prices, and extended cycle times, the great potential of composite materials has yet to be fulfilled. The high price of materials has been a major cause of worry as their usage in structural applications has grown. Many uses of aircraft composites have been developed, however, industrialization of these applications has yet to begin owing to severe cost restrictions.

The report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of composite materials. The growth and trends of Composite Materials Industry provide a holistic approach to this study. 

Market Segmentation

This section of the composite materials market report provides detailed data on the segments by analyzing them at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.

By Product

• Carbon Fiber
• Glass Fiber
• Others

By Manufacturing Process

• Layup Process
• Filament Winding Process
• Injection Molding Process
• Pultrusion Process
• Compression Molding Process
• Resin Transfer Molding Process
• Others

By End-Use

• Automotive & Transportation
• Electrical & Electronics
• Wind Energy
• Construction & Infrastructure
• Pipes & Tanks
• Marine
• Others

Regional Analysis

This section covers the regional outlook, which accentuates current and future demand for the Composite Materials market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.

Global Composite Materials Market Share by Region (Representative Graph)

The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the composite materials market include Teijin Ltd., Toray Industries Inc., Owens Corning, PPG Industries Inc., Huntsman Corporation LLC, SGL Group, Hexcel Corporation, DuPont, Compagnie de Saint-Gobain S.A, Weyerhaeuser Company, Momentive Performance Materials Inc., Cytec Industries (Solvay. S.A.), China Jushi Co. Ltd., Veplas Group, Kineco Limited. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.