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Market Research Report

Global Composite Market Outlook 2016-2024

Published On : 2018-02-13 Report Page : 290 Category: Chemicals Minerals & Materials

Global Composite Market 

Market Overview

Composite materials have been successful in replacing traditional materials in wide range of applications where the cost and performance of composites makes composite products best choice over conventional ones. In addition, designers, manufacturers and architects continue to see and understand the benefits of using composite materials in a growing number of applications, which will significantly accelerate the growth of composite market across the globe. In next 10 years, there will be significant innovations in the composite industry as demand for various applications picks up across all market segments. Most of the innovation will be focused at increasing performance, reducing cost and process time and making composite material more environmentally friendly. Moreover, composite industry is shifting towards automated manufacturing processes such as automated tape lay-up and automated fiber lay-up which will further boost the market growth in coming years.

Goldstein Research analyst forecast the global composite market to expand at a CAGR of 5.4% during the forecast period 2016-2024. The demand for composite end products in various industries around the world reached USD 31.2 billion in 2016, which is likely to reach USD 47.6 billion by the end of the forecast period. 

Covered in this global composite market report                                

The report covers the present ground scenario and the future growth prospects of the composite market for 2016-2024 along with the total revenue of composite industry in every region. We calculated the market size and revenue share on the basis of revenue generated per segment, regional and country level. The revenue forecast is given on the basis of number of composite manufacturers and current growth rate of the market.

Global Composite Market Segmentation

By Product Type

  • Metal Composites
  • Polymer Composites
    • Natural Fiber Composites
    • Glass Fiber Composites
    • Carbon Fiber Composites
  • Ceramic Matrix Composites

By Resin Type

  • Thermoplastic Composites
  • Thermoset Composites

By Technology

  • Lay Up
  • Resin Infusion
  • Filament Winding
  • Pultrusion
  • Injection Molding
  • Compression Molding
  • Others (Automated fiber placement etc.)

By End Users

  • Aerospace and Defense
  • Automotive
  • Energy Sector
  • Electronic and Electrical Industry
  • Construction
  • Consumer Goods (Industrial Equipment etc.)

By Geography

  • North America (US, Canada) {Market Share (%), Market Size (USD Billion)}
  • Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe) {Market Share (%), Market Size (USD Billion)}
  • Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of Middle East & Africa) {Market Share (%), Market Size (USD Billion)}
  • Latin America (Brazil, Mexico and Rest of Latin America) {Market Share (%), Market Size (USD Billion)}
  • Asia Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific) {Market Share (%), Market Size (USD Billion)}
  • Rest of the World {Market Share (%), Market Size (USD Billion))}

Based on end users, automotive and aerospace industry accounted for the largest revenue of 40% in global composite market in 2016. Moreover, energy sector is the most lucrative segment which is likely to provide immense opportunity owing to use of advanced composites in wind and other renewable power generation applications.

Global Composite Market Outlook 2016-2024, has been prepared based on an in-depth market analysis from industry experts. The report covers the competitive landscape and current position of major players in the global composite market. The report also includes porter’s five force model, SWOT analysis, company profiling, business strategies of market players and their business models. Global  composite market report also recognizes value chain analysis to understand the cost differentiation to provide competitive advantage to the existing and new entry players.

Our global composite market report comprises of the following companies as the key players in the global composite market: Owen Corning, Solvay, SGL Group, Hexcel Corporation, Mitsubishi, Toray Industries, SGL, Toho Co. Ltd., Teijin, Cytec Solvay, BASF, Delphi, Johns Manville, Nippon Sheet Glass Co. Ltd., General Motor Company, DU Pont, Kineco Group, DOW Chemical Company and Johnson Controls Inc., Koninklijke Ten Cate bv, Huntsman Corporation, Jushi Group and Gurit.

According to our global composite market study on the basis of extensive primary and secondary research, one major trend in the market is the rising adoption of advance carbon fiber materials. The share of carbon fiber composites is comparatively much lower than glass fibers but the market share of carbon fiber is likely to further increase in the coming years, owing to the immense potential to replace aluminum and steel in primary load-bearing structures. In addition to this, carbon fiber composites remain the dominantly used material within the aero-engine segment owing to its adoption in fan blades, spinners, ducts, thrust reversers, vent tubes and engine parts.

According to the report, major driver in global composite market is growing automobile industry and rising demand for lightweight materials in automotive industry. The automotive industry is expected to be the largest market for composite materials, with CAGR of 4.8% during the forecast period. OEMs are continuously seeking for innovative materials to reduce vehicle weight and to achieve fuel efficiency and carbon emission targets.

Further, the report states that one challenge in global composite market is industry struggles to attract and educate new talent for the industry. With anticipated growth of composite industry is likely to create huge demand for well-trained composite technicians, engineers and designers, which augmenting the huge need for universities to create undergraduate programs focused on designs. 

Geographically, North America region accounted for the largest market share of 35% revenue in global composite market. North America is closely followed by the Asia pacific region, which occupied about 28% of the market share owing to presence of big automotive industry players and huge automobile production in the region. Europe provides the immense potential for the market growth owing to aggressive persuasion for renewable power generation such as wind energy.  

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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Key questions answered in this global composite market report

  • What is the total market size by 2024 and what would be the expected growth rate of sales?
  • What is the total revenue per segment and region in 2015-16 and what would be the expected revenue per segment and region over the forecast period?
  • What are the key market trends?
  • What are the factors which are driving this market?
  • What are the major barriers to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities for the existing and entry level players?
  • What are the recent developments and business strategy of the key players?

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Global Composite Market Outlook 2016-2024

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