A recent market intelligence report that is published by Data Insights Partner on Composite Materials Market makes an offering of in-depth analysis of segments and sub-segments in the regional and international. The research study also emphasizes on the impact of restraints, drivers, and macro indicators on the regional and world Composite Materials Market over the short as well as long period of time. A detailed presentation of forecast, trends, and dollar values of international Composite Materials Market is offered.
In accordance with the report, the Composite Materials Market is projected to expand at a CAGR of X.X% over the period of forecast. The global Composite Materials Market was valued at USD XX.X Mn in 2019 and is expected to reach USD XX.X Mn in 2031, growing with a significant CAGR rate during the forecast period. Across the globe, different factors such as rising electrical and electronics amount extensions and consistent growth in the automotive and aerospace sectors are expected to boost market growth during the forecast period. The growing demand for electric vehicles in nations such as China and the United States is also a major driver of composite material demand. The growing demand for lightweight materials in numerous industries, such as automotive and transportation, wind energy, and aerospace and military, is driving the market. Another important driver driving the market, according to the research, is the growing use of 3D printing with composites.
To compile the detailed study of the global Composite Materials market, a robust research methodology has been adopted that aids in determining the key insights and also evaluates the growth prospects of the Composite Materials Market. Comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecast possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Our research methodology implements a mix of primary as well as secondary research. Our projects are initiated with secondary research, where we refer to a variety of sources including trade databases; government published documents, investor presentations, company annual reports, Industrial papers, and paid databases. To carry out secondary research, the analysts have collected the information through company annual reports, journals, company press releases, and paid databases that were referred to gain and identify better opportunities in the Composite Materials Market. Manufacturers are forced to choose conservative designs due to a lack of standardisation of materials and processes, which impedes mass manufacturing and economic performance of automobiles and aircraft. Furthermore, a scarcity of people resources with composites training and experience limits the scope of composites’ uses. The market is competitive, with a few important firms controlling the lion’s share of the industry. New entrants find it challenging to compete profitably in the market due to their R&D skills. However, the development of goods for specialised applications to improve composites output is projected to boost the market’s potential. Due to increased demand from China, Japan, India, and other countries, APAC is the largest composite consumer. Construction, automotive and transportation, aerospace and defence, and wind energy are among the major end-use industries for composites in the APAC market. Some of the primary reasons driving the composites market in APAC are technological advancements, regulatory policies, and government requirements.
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COVID-19 Scenario Analysis:
The COVID-19 outbreak has shaken the whole economy in the world. In this scenario some industries are doing quite well while others have been crushed. This section of the report has explored the overall status of the COVID-19 scenario. The industry witnessed a huge decline in terms of sales. Likewise, the Composite Materials market was affected negatively due to the shutdown of manufacturing/processing facilities for some time. The analysts have also focused on the key measures that the companies are opting to withstand the harsh scenario.
Composite Materials Market report has been segmented By Fiber Type, By Resin Type, By Manufacturing Process, By End-User Industry also includes the market size and forecast for all these segments. Compounded annual growth rates for all segments have also been provided for 2019 to 2031. This report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
Composite Materials Market research report includes an in-depth coverage of the industry with estimates & forecast from 2022 to 2031, for the following segments:
Composite Materials Market, By Fiber Type, 2022-2031 (USD Million)
- Glass Fiber Composites
- Carbon Fiber Composites
- Natural Fiber Composites
Composite Materials Market, By Resin Type, 2022-2031 (USD Million)
- Thermoset Composites
- Thermoplastic Composites
Composite Materials Market, By Manufacturing Process, 2022-2031 (USD Million)
- Layup Process
- Filament Winding Process
- Injection Molding Process
- Pultrusion Process
- Compression Molding Process
- Resin Transfer Molding Process
Composite Materials Market, By End-User Industry, 2022-2031 (USD Million)
- Aerospace & Defense
- Wind Energy
- Automotive & Transportation
- Construction & Infrastructure
- Pipes & Tanks
- Electrical & Electronics
The prime objective of the Composite Materials market report is to help the user understand the market in terms of its definition, segmentation, market potential, influential trends, and the challenges that the market is facing with different major regions and more than 30 major countries across the globe. During the report’s production, extensive research and analysis were conducted. This research will assist readers in gaining a thorough understanding of the market.
Composite Materials Market, By Region, 2022-2031 (USD Million)
- North America ( United States, Canada, Mexico)
- Europe (Germany, UK, France, Italy, Russia, Spain, and Rest of Europe)
- South Asia ( India, Pakistan and Bangladesh)
- East Asia (China, Japan and South Korea)
- South East Asia (Indonesia, Thailand, Singapore, Malaysia, Rest of SE Asia)
- Middle East (Turkey, Saudi Arabia, Iran, UAE, Israel, Iraq, Qatar, Rest of MEA)
- Africa (Nigeria, South Africa, Egypt, Algeria, Rest of Africa)
- South America (Brazil, Argentina, Colombia, Chile, and Rest of SA)
- Oceania (Australia and New Zealand)
To enhance their position in the global market, key suppliers/manufacturers are concentrating on business expansion and product innovation. Manufacturers/producers are also working on boosting their manufacturing capacity and product quality to gain a competitive advantage. The following are some of the prominent manufacturers in the worldwide Composite Materials market:
- Cabot Corporation
- Composites Universal Group
- Dit B.V.
- Mitsubishi Chemical Corporation
- Owens Corning
- Teijin Limited
- Toray Industries Incorporation and SGL Group
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Composite Materials Market Report Highlights:
- Detailed analysis of the parent market
- Key players’ strategies and products supplied in the competitive landscape
- Market segmentation in depth analysis
- Market size in terms of volume and value, past, present, and future scenario
- Potential and specialty areas, as well as geographical regions with promising growth prospects
- Market players use this information to maintain and expand their market presence, thus it’s important to have an unbiased perspective on market performance.