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PUBLISHER: Grand View Research | PRODUCT CODE: 1268658
PUBLISHER: Grand View Research | PRODUCT CODE: 1268658
Composites Market Size, Share & Trends Analysis Report By Product Type (Carbon Fiber, Glass Fiber), By Manufacturing Process (Layup, Filament, Injection Molding, Pultrusion), By End-use, By Region And Segment Forecasts, 2023 - 2030
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Composites Market Growth and Trends:
The global composites market size is expected to reach USD 163.97 billion by 2030, registering a CAGR of 7.2% over the forecast period,according to a new report by Grand View Research, Inc. The demand for composites is expected to witness significant growth owing to the rising fuel prices and stringent government regulations have shifted automobile manufacturers focus on light-weighted components which would further propel the market demand over the forecast period.
Composite products play an essential role in the manufacturing of automotive and aircraft parts. The growing concerns regarding fuel consumption and CO2 emission levels have prompted the manufacturers to use carbon fiber composite materials as substitutes for metal components. Technological innovations to minimize the manufacturing cycle time is expected to propel the usage of composites in the automotive sector.
The high cost of composites has limited their application scope to premium segment cars. However, key players are conducting extensive R&D activities to develop low-cost composite grades with similar mechanical properties as that of the high-cost variants. This is expected to spur the demand for the product in the automotive industry over the forecast period.
Aerospace is one of the fastest-growing sectors in the global composites market. High-performance materials are required to be used in aircraft, rockets, satellites, and missiles in the aerospace industry. The consumption of composites in the aerospace industry is increasing owing to their lightweight and high rigidity. The U.S. and Europe are the key markets in the aerospace & defense sector with the demand being driven by aircraft manufacturers such as Boeing and Airbus.
Major players have established a strong distribution network and product brands in the global composites market. Companies such as Teijin Limited, Toray Industries, Owens Corning, and PPG Industries Inc. acquired a large share of the market globally. The ongoing research & development activities in the composites market present several growth and expansion opportunities to market players, which in turn are projected to positively influence the overall composites market.
Manufacturers are aiming to achieve optimum business growth and a strong market position through the implementation of various strategies such as integration, through acquisition, joint ventures, production capacity expansion, new product development, promotion of key product brands, and significant investments in research & development.
Composites Market Report Highlights:
- The glass fiber segment accounted for the largest market share in 2022 and is further expected to grow at a CAGR of 6.4% on account of increased penetration in pipe manufacturing applications owing to the strength and durability of these composites. Additionally, glass fiber comprises several thin that find application in building & construction, automotive, industrial, energy, and consumer goods
- The layup process segment is forecasted to grow at a CAGR of 9.0% by 2030. The market is again forecast to grow due to easier technology applications and the requirement of less expensive machinery. The process involves placing multiple layers of composite fiber in a sequence by using a matrix of resin and hardener
- The automotive & transportation segment dominated the composites market with a revenue share of USD 19.70 billion in 2022. This is attributed to its advantages such as fuel saving to the transportation sector as the components are significantly lighter in weight that allows ascending fuel efficiency
- The demand for composites in Asia Pacific was the largest in the global market due to the increase in air passenger traffic, rise in automotive vehicle production, and ambitious electrical & electronics production capacity addition targets set by various governments in the Asia Pacific including China, India, Japan, and South Korea
- Various initiatives such as technology innovations, research & development, partnerships, and merger & acquisitions to manufacture cost-effective and lightweight composite products have been undertaken by the key market players. Prominent players have patented technologies used for composites manufacturing
Product Code: 978-1-68038-917-3
Table of Contents
Chapter 1. Methodology and Scope
- 1.1 Market Segmentation & Scope
- 1.2 Research Methodology
- 1.3 Research Scope and Assumptions
- 1.4 Information Procurement
- 1.4.1 Purchased Database
- 1.4.2 GVR'S Internal Database
- 1.4.3 Secondary Sources
- 1.4.4 Third Party Perspective
- 1.4.5 Primary Research
- 1.5 Information Analysis
- 1.5.1 Data Analysis Models
- 1.6 Market Formulation and Data Visualization
- 1.7 List of data sources
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segmental Outlook
- 2.3. Competitive Outlook
Chapter 3. Composites Market Variables, Trends, and Scope
- 3.1 Market Lineage Outlook
- 3.2 Composites Market - Value Chain Analysis
- 3.2.1 Raw Material Analysis
- 3.2.1.1 Resins
- 3.2.1.2 Reinforcements
- 3.2.1.3 Auxiliary raw materials
- 3.2.1 Raw Material Analysis
- 3.3 Technology Overview
- 3.4 Regulatory Framework
- 3.4.1 Analyst Perspective
- 3.4.2 United State Environmental Protection Agency
- 3.4.3 Code of Federal Regulations
- 3.4.4 U.S. Depart of Transportation (Federal Aviation Administration)
- 3.5 Market Dynamics
- 3.5.1 Market Driver Analysis
- 3.5.1.1 Increasing demand for lightweight materials in automotive industry
- 3.5.1.2 Growing utilization of composites in industrial sectors
- 3.5.2 Market Restraint Analysis
- 3.5.2.1 High manufacturing and processing cost
- 3.5.2.2 Escalating crude oil prices
- 3.5.2.3 Market Opportunity Analysis
- 3.5.2.4 Market Challenge Analysis
- 3.5.1 Market Driver Analysis
- 3.6 Industry Analysis - Porter's
- 3.6.1 Competitive Rivalry
- 3.6.2 Supplier Power
- 3.6.3 Buyer Power
- 3.6.4 Threat of Substitutes
- 3.6.5 Threat of New Entrants
- 3.7 PESTLE Analysis
- 3.7.1 Political
- 3.7.2 Economic
- 3.7.3 Social
- 3.7.4 Technological
- 3.7.5 Legal
- 3.7.6 Environmental
Chapter 4. Composites Market: Product Type Estimates & Trend Analysis
- 4.1 Composites Market: Product Type Key Takeaways
- 4.2 Composites Market: Product Movement Analysis, 2022 & 2030
- 4.3 Carbon Fiber
- 4.4 Glass Fiber
- 4.5 Others
Chapter 5. Composites Market: Manufacturing Process Estimates & Analysis
- 5.1 Composites Market: Manufacturing Process Key Takeaways
- 5.2 Composites Market: Manufacturing Process Movement Analysis, 2022 & 2030
- 5.3 Layup Process
- 5.4 Filament Winding Process
- 5.5 Injection Molding Process
- 5.6 Pultrusion Process
- 5.7 Compression Molding Process
- 5.8 Resin Transfer Molding Process
- 5.9 Others
Chapter 6. Composites Market: End-Use Estimates & Analysis
- 6.1 Composites Market: End-Use Key Takeaways
- 6.2 Composites Market: End-use Movement Analysis, 2022 & 2030
- 6.3 Automotive & Transportation
- 6.4 Wind Energy
- 6.5 Electrical & Electronics
- 6.6 Construction & Infrastructure
- 6.7 Pipes & Tanks
- 6.8 Marine
- 6.9 Others
Chapter 7. Composites Market: Regional Estimates & Trend Analysis
- 7.1 Composites Market: Regional Key Takeaways
- 7.2 Composites Market: Region Movement Analysis, 2022 & 2030
- 7.3 North America
- 7.3.1 North America Composites Market Estimates and Forecasts, 2018 - 2030 (Kilotons) (USD Billion)
- 7.3.2 U.S.
- 7.3.2.1 U.S. composites market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Billion)
- 7.3.3 Canada
- 7.3.3.1 Canada composites market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Billion)
- 7.3.4 Mexico
- 7.3.4.1 Mexico composites market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Billion)
- 7.4 Europe
- 7.4.1 Europe Composites Market Estimates and Forecasts, 2018 - 2030 (Kilotons) (USD Billion)
- 7.4.2 Germany
- 7.4.2.1 Germany composites market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Billion)
- 7.4.3 UK
- 7.4.3.1 UK composites market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Billion)
- 7.4.4 France
- 7.4.4.1 France composites market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Billion)
- 7.4.5 Italy
- 7.4.5.1 Italy composites market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Billion)
- 7.4.6 Spain
- 7.4.6.1 Spain composites market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Billion)
- 7.5 Asia Pacific
- 7.5.1 Asia Pacific Composites Market Estimates and Forecasts, 2018 - 2030 (Kilotons) (USD Billion)
- 7.5.2 China
- 7.5.2.1 China composites market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Billion)
- 7.5.3 Japan
- 7.5.3.1 Japan composites market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Billion)
- 7.5.4 India
- 7.5.4.1 India composites market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Billion)
- 7.5.5 South Korea
- 7.5.5.1 South Korea composites market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Billion)
- 7.6 Central & South America
- 7.6.1 Central & South America Composites Market Estimates and Forecasts, 2018 - 2030 (Kilotons) (USD Billion)
- 7.6.2 Brazil
- 7.6.2.1 Brazil composites market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Billion)
- 7.6.3 Argentina
- 7.6.3.1 Argentina composites market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Billion)
- 7.7 Middle East & Africa
- 7.7.1 Middle East & Africa Composites Market Estimates and Forecasts, 2018 - 2030 (Kilotons) (USD Billion)
Chapter 8. Competitive Landscape
- 8.1 Recent Developments & Impact Analysis, By Key Market Participants
- 8.2 Company/Competition Categorization
- 8.3 Vendor Landscape
- 8.3.1 List of Raw Materials
- 8.3.2 List of Manufacturers
- 8.3.3 List of Suppliers/Distributors
- 8.3.4 List of End Users
- 8.4 Public Companies
- 8.4.1 Company Market Positioning
- 8.5 Private Companies
- 8.5.1 List of Key Emerging Companies
- 8.6 Company Listings (Overview, Financials, Product Portfolio, Strategy)
- 8.6.1 Teijin Ltd.
- 8.6.1.1 Company Overview
- 8.6.1.2 Financial Performance
- 8.6.1.3 Product Benchmarking
- 8.6.1.4 Strategic Initiatives
- 8.6.2 Toray Industries, Inc.
- 8.6.3 Owens Corning
- 8.6.4 PPG Industries, Inc.
- 8.6.5 Huntsman Corporation LLC
- 8.6.6 SGL Group
- 8.6.7 Hexcel Corporation
- 8.6.8 DuPont
- 8.6.9 Compagnie de Saint-Gobain S.A.
- 8.6.10 Weyerhaeuser Company
- 8.6.11 Momentive Performance Materials, Inc.
- 8.6.12 Cytec Industries (Solvay. S.A.)
- 8.6.13 China Jushi Co., Ltd.
- 8.6.14 Veplas Group
- 8.6.15 Kineco Limited
- 8.6.1 Teijin Ltd.
Product Code: 978-1-68038-917-3
List of Tables
- Table 1 Composites market estimates and forecasts, by product, 2018 - 2030 (Kilotons)
- Table 2 Composites market estimates and forecasts, by product, 2018 - 2030 (USD Billion)
- Table 3 Composites market estimates and forecasts, by manufacturing process, 2018 - 2030 (Kilotons)
- Table 4 Composites market estimates and forecasts, by manufacturing process, 2018 - 2030 (USD Billion)
- Table 5 Composites market estimates and forecasts, by end use, 2018 - 2030 (Kilotons)
- Table 6 Composites market estimates and forecasts, by end use, 2018 - 2030 (USD Billion)
List of Figures
- Fig. 1 Market Segmentation & Scope
- Fig. 2 Information Procurement
- Fig. 3 Primary Research Pattern
- Fig. 4 Primary Research Process
- Fig. 5 Market Research Approaches - Bottom Up Approach
- Fig. 6 Market Research Approaches - Top Down Approach
- Fig. 7 Market Research Approaches - Combined Approach
- Fig. 8 Market Outlook
- Fig. 9 Segmental Outlook
- Fig. 10 Segmental Outlook
- Fig. 11 Competitive Outlook
- Fig. 12 Penetration & Growth Prospect Mapping
- Fig. 13 Composites Market - Value Chain Analysis
- Fig. 14 Market Driver Analysis
- Fig. 15 World Motor Vehicle Production by Region (Million Units)
- Fig. 16 Market Restraint Analysis
- Fig. 17 Pricing - Composites v/s Other Materials (USD/Kg)
- Fig. 18 Global Crude Oil Prices (USD/ Barrel)
- Fig. 19 Global Consumer Spending on Electric Vehicle Purchase (USD Billion)
- Fig. 21 Composites Market: Product Type Key Takeaways
- Fig. 22 Composites Market: Product Movement Analysis, 2022 & 2030
- Fig. 23 Carbon fiber composites market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Billion)
- Fig. 24 Glass fiber composites market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Billion)
- Fig. 25 Other fiber composites market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Billion)
- Fig. 26 Composites Market: Manufacturing Process Key Takeaways
- Fig. 27 Composites Market: Manufacturing Process Movement Analysis, 2022 & 2030
- Fig. 28 Composites market estimates and forecasts, by layup process, 2018 - 2030 (Kilotons) (USD Billion)
- Fig. 29 Composites market estimates and forecasts, by filament winding process, 2018 - 2030 (Kilotons) (USD Billion)
- Fig. 30 Composites market estimates and forecasts, by injection molding process, 2018 - 2030 (Kilotons) (USD Billion)
- Fig. 31 Composites market estimates and forecasts, by pultrusion process, 2018 - 2030 (Kilotons) (USD Billion)
- Fig. 32 Composites market estimates and forecasts, by compression molding process, 2018 - 2030 (Kilotons) (USD Billion)
- Fig. 33 Composites market estimates and forecasts, by resin transfer molding process, 2018 - 2030 (Kilotons) (USD Billion)
- Fig. 34 Composites market estimates and forecasts, by other manufacturing process, 2018 - 2030 (Kilotons) (USD Billion)
- Fig. 35 Composites Market: End-use Key Takeaways
- Fig. 36 Composites Market: End-use Movement Analysis, 2022 & 2030
- Fig. 37 Composites market estimates and forecasts in automotive & transportation, 2018 - 2030 (Kilotons) (USD Billion)
- Fig. 38 Composites market estimates and forecasts in wind energy, 2018 - 2030 (Kilotons) (USD Billion)
- Fig. 39 Composites market estimates and forecasts in electrical & electronics, 2018 - 2030 (Kilotons) (USD Billion)
- Fig. 40 Composites market estimates and forecasts in construction & infrastructure, 2018 - 2030 (Kilotons) (USD Billion)
- Fig. 41 Composites market estimates and forecasts in pipes & tanks, 2018 - 2030 (Kilotons) (USD Billion)
- Fig. 42 Composites market estimates and forecasts in marine, 2018 - 2030 (Kilotons) (USD Billion)
- Fig. 43 Composites market estimates and forecasts in other end-use, 2018 - 2030 (Kilotons) (USD Billion)
- Fig. 44 Composites Market: Regional Key Takeaways
- Fig. 45 Composites Market: Region Movement Analysis, 2022 & 2030
- Fig. 46 North America composites market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Billion)
- Fig. 47 U.S. Composites market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Billion)
- Fig. 48 Canada composites market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Billion)
- Fig. 49 Mexico composites market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Billion)
- Fig. 50 Europe composites market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Billion)
- Fig. 51 Germany composites market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Billion)
- Fig. 52 U.K. composites market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Billion)
- Fig. 53 France composites market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Billion)
- Fig. 54 Italy composites market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Billion)
- Fig. 55 Spain composites market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Billion)
- Fig. 56 Asia Pacific composites market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Billion)
- Fig. 57 China composites market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Billion)
- Fig. 58 Japan composites market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Billion)
- Fig. 59 India composites market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Billion)
- Fig. 60 South Korea composites market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Billion)
- Fig. 61 Central & South America composites market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Billion)
- Fig. 62 Brazil composites market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Billion)
- Fig. 63 Argentina composites market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Billion)
- Fig. 64 Middle East & Africa composites market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Billion)
- Fig. 65 Company/Competition Categorization
- Fig. 66 Company Market Positioning
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