Press "Enter" to skip to content

Composites Market Size by Global Major Companies Profile, Competitive Landscape and Report 2027

The global composites market size is projected to reach USD 112.0 billion by 2027, exhibiting a CAGR of 6.88% during the forecast period. Increasing utilization of composite materials in 3D printing applications will broaden the horizons of this market, observes Fortune Business Insights™ in its report, titled “Composites Market Size, Share and Global Trend By Matrix (Polymer matrix, Ceramic matrix and Metal matrix), by Polymer matrix (Fiber {Glass, Carbon, Aramid} and Resin {Thermoset and Thermoplastics}) and by Application (Automotive & Transportation, Building & Construction, Electrical & Electronics goods, Pipes & tank manufacturing, Consumer goods, Wind power, Maritime, Defense & aviation and Others) and Regional   Forecast, 2020-2027”. 3D printing technology holds an enormous potential for the manufacturing sector, allowing producers to efficiently create parts, machineries, and equipment at relatively low costs. Most of the 3D printers available today use Fused Filament Fabrication (FFF), a polymer-extrusion process for composites. For example, US-based additive manufacturer, Markforged, developed the continuous fiber 3D printing method and currently offers a variety of industrial 3D printers, with main focus on functional prototyping and end-use manufacturing. Another US-based company, Desktop Metals, launched its Fiber 3D Printer in 2019, which combines the traditional Automated Fiber Placement technology with FFF. These advancements are expected to provide a solid push to the growth trajectory of this market in the foreseeable future.

The unprecedented health and economic crisis created by the COVID-19 pandemic has severely impacted industrial activities. Businesses have either been forced to shut down or are experiencing massive revenue losses. To enable your business to survive these trying times, Fortune Business Insights™ offers comprehensive market research reports based on our experience and expertise. These reports contain a detailed impact analysis of coronavirus pandemic on the market of your concern.

Get Sample PDF Brochure:

www.fortunebusinessinsights.com/enquiry/request-sample-pdf/composites-market-102295

According to the report, the global market value stood at USD 99.91 billion in 2019. The other highlights of the report include:

Deep insights into the trends, drivers, opportunities, and challenges shaping the market;

Actionable analysis of the market segments;

Tangible research into the regional developments impacting the market; and

Thorough evaluation of the key market players and their strategies.

 

Market Driver

Rising Demand for Electric Vehicles to Surge the Adoption of Composites

Electric vehicles (EVs) are witnessing skyrocketing demand as consumers are actively looking to reduce their spending on gasoline and lower emissions. According to the International Energy Agency (IEA), 2.1 million EVs were sold in 2019. The key to enhance the energy-efficiency of these vehicles is to bring down their weight. Composite materials are expected to play an instrumental role in facilitating these requirements and research has been conducted in this area for over a decade now. For example, in 2010, Imperial College London and its European partners engineered a carbon fiber composite to make lightweight and high-strength body panels and structural parts for hybrid EVs. More recently, the Fraunhofer Institute for Structural Durability and Systems Reliability in Germany initiated the Optimized Energy Management and Use (OPTEMUS) project in 2015. Funded by the European Union, the project has developed a composite that functions as a phase change material and effectively manages EV temperature and range. The vast potential of composites in EV manufacturing is, thus, foreseen to drive the global market in the upcoming years.

Regional Insights

Prominent Presence of Industry Players to Favor Growth in the Asia Pacific Market

Asia Pacific dominated the composites market share with a size of USD 43.76 billion in 2019 on account of the strong presence and robust operations of some of the biggest players in the composites industry such as Toray and Mitsubishi. These companies have been injecting large amount of funds into research and development to create new composite solutions and meet the rapidly rising demand for these materials from diverse industries in the region.

The market in North America is benefiting from the extensive utilization of composite materials by the region’s well-established aerospace & defense industry. In Europe, the market dynamics will be primarily shapedby the region’s massive automotive industry, increasing uptake of EVs, and favorable governmental policies promoting the adoption of lightweight materials in vehicle manufacturing.

 

Competitive Landscape

Expansion & Acquisitions to be the Mainstay Strategies of Key Players

Chief among the strategies adopted by the key players in this market are the calculated territorial expansion and tactical acquisition activities. These strategies are aiding large companies in the market to widen their offerings, strengthen global market foothold, and penetrate emerging markets.

 

Industry Developments:

January 2020: Teijin Limited announced the establishment of the Teijin Automotive Center Europe GmbH in Germany, which will serve as a new base for technical operations for the company’s automotive composites business.

September 2019: INEOS Enterprises completed the acquisition of the entire composites division of Ashland Global Holdings, including a BDO facility in Germany. Ashland’s businesses in this domain boast combined annual sales revenue of USD 1.1 billion, with sites in the Middle East, Europe, the Americas, and Asia.

 

List of Key Companies Profiled in the Composites Market Report:

Composite Solutions

Exel Group

Huntsman International LLC

Hexcel Corporation

Teijin Limited

Owens Corning

Veplasd.d.

Solvay

SGL Carbon

Mitsubishi Chemical Holdings Corporation

Toray Industries, Inc.

 

Read Related News:

www.deviantart.com/harshaljaiswal27/art/Hand-Sanitizer-Market-Size-by-Global-Major-Compani-882229379?ga_submit_new=10%3A1623324823

www.elephantjournal.com/2021/06/hand-sanitizer-market-2026-global-trends-statistics-size-share-regional-analysis-by-key-players/

www.reddit.com/user/harshaljaiswal27/comments/nwld98/hand_sanitizer_market_size_industry_growth_impact/

angel.co/today/stories/hand-sanitizer-market-size-growth-share-global-report-2026-44823

bioplasticsmarketsize.blogspot.com/2021/06/hand-sanitizer-market-size-by-global.html

anotepad.com/notes/ye9sw9i4

blogfreely.net/harshaljaiswal27/the-global-hand-sanitizer-market-size-is-projected-to-reach-usd-1-96-billion-by-4zfy

gitlab.com/harshaljaiswal20211/hand-sanitizer-market/-/issues/1

doitwiser.zendesk.com/hc/en-us/requests/131985

site-4636278-5469-3387.mystrikingly.com/blog/hand-sanitizer-market-worth-1-96-billion-at-6-2-cagr-industry-bigwigs-such

www.homify.co.uk/ideabooks/7979812/hand-sanitizer-market-size-by-global-major-companies-profile-competitive-landscape-and-key-regions-2026

teletype.in/@harshaljaiswal27/H3j5PUKFR2g

www.edocr.com/v/p61qx6yn/harshaljaiswal2021/hand-sanitizer-market-to-touch-196-billion-by-2026

infogram.com/hand-sanitizer-market-1h7j4dvdp90894n?live

www.minds.com/newsfeed/1249692524424544256?referrer=harshaljaiswal27

 

About Us:

 

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

 

 

Contact Us:

Fortune Business Insights™ Pvt. Ltd.

308, Supreme Headquarters,

Survey No. 36, Baner,

Pune-Bangalore Highway,

Pune – 411045, Maharashtra, India.

 

Phone:

US :+1 424 253 0390

UK : +44 2071 939123

Be First to Comment

Leave a Reply

Your email address will not be published. Required fields are marked *