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2020-09-01
724
Global
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.
By Product Type
By Resin Type
By Technology
By End Users
By Geography
Based on end users, automotive and aerospace industry accounted for the largest revenue of 40% in global composite market in 2017. 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.
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.
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.
Covered in this global composite market report
The report covers the present ground scenario and the future growth prospects of the composite market for 2017-2030 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 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.
Global Composite Market Outlook 2017-2030, 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.
The report analyzes and includes complete detailed chapter of 50-70 pages about the short term & long terms impact of COVID-19 outbreak on each segment of "Global Composite Market" along with government measures to support the sector. It also showcases the current market landscape during COVID, impact of the virus on leading companies, expected demand schedule and supply chain in the industry and other various major factors. This will help you identify those companies that may benefit from this pandemic as well as those that will lose out.
Our global composite market report comprises of the following companies as the key players in the global composite market:
Key questions answered in this global composite market report
We can provide two hour complimentary interaction with our analyst after the purchase of this market report. Details are imparted within the report.
A complementary 2hrs free facility through which report buyers can interact with our pool of experienced analysts for any report related queries, clarifications or additional data requirements
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