PUBLISHER: Global Insight Services | PRODUCT CODE: 1598965
PUBLISHER: Global Insight Services | PRODUCT CODE: 1598965
The global composites market is expected to expand from $94.3 billion in 2023 to $163.2 billion by 2033, with a CAGR of 5.8%, reflecting robust growth trends.
The composites market encompasses the industry dedicated to the production and application of composite materials, which are engineered from two or more constituent materials with significantly different physical or chemical properties. These materials, such as carbon fiber, glass fiber, and aramid, are combined to yield superior properties, including enhanced strength, lightweight, and corrosion resistance. This market serves diverse sectors, including aerospace, automotive, construction, and wind energy, driving innovation and sustainability through advanced materials that offer performance and efficiency benefits.
The composites market is experiencing robust growth, driven by their increasing application across diverse industries such as automotive, aerospace, and construction. In the automotive sector, thermoplastic composites lead, offering lightweight and durable solutions that enhance fuel efficiency. Carbon fiber composites in aerospace are the second-highest performing sub-segment, prized for their strength-to-weight ratio and fuel-saving potential. Regionally, North America dominates the market, fueled by technological advancements and substantial investments in research and development. Europe follows, with a strong emphasis on sustainability and the adoption of renewable energy sources, which drive demand for wind turbine blades made from composites. In Asia-Pacific, China and India are key players, propelled by rapid industrialization and infrastructure development. These regions are witnessing increased composite applications in construction and transportation, further bolstering market expansion. Overall, the composites market is poised for continued growth, supported by innovation and the global shift towards sustainable materials.
Key Companies
Hexcel, Gurit, Owens Corning, Toray Industries, SGL Carbon, Teijin, Mitsubishi Chemical, Zoltek, Huntsman Corporation, Cytec Solvay Group, AOC Resins, Johns Manville, Nippon Electric Glass, AGY, Chomarat, Jushi Group, Saertex, Scott Bader, Exel Composites, IDI Composites International, Composite Innovators, Advanced Fiber Solutions, Eco Resin Technologies, Green Matrix Composites, Next Gen Materials, Future Flex Composites, Sustainable Structures, Reinforce Tech, Bio Composites Group, Carbon Craft Industries, Tech Weave Solutions, Nano Fiber Dynamics, Eco Composite Creations, Smart Layer Composites, Resin Revolution, Innovative Polymer Systems, Lightweight Materials Co, Fiber Fusion Technologies, Advanced Composite Creations, Sustainable Fibers Inc
Our research scope provides comprehensive market data, insights, and analysis across a variety of critical areas. We cover Local Market Analysis, assessing consumer demographics, purchasing behaviors, and market size within specific regions to identify growth opportunities. Our Local Competition Review offers a detailed evaluation of competitors, including their strengths, weaknesses, and market positioning. We also conduct Local Regulatory Reviews to ensure businesses comply with relevant laws and regulations. Industry Analysis provides an in-depth look at market dynamics, key players, and trends. Additionally, we offer Cross-Segmental Analysis to identify synergies between different market segments, as well as Production-Consumption and Demand-Supply Analysis to optimize supply chain efficiency. Our Import-Export Analysis helps businesses navigate global trade environments by evaluating trade flows and policies. These insights empower clients to make informed strategic decisions, mitigate risks, and capitalize on market opportunities.