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Composite Materials Market - Global Industry Analysis

Composite Materials Market By Fiber Type (Glass Fiber Composites, Carbon Fiber Composites, Natural Fiber Composites and Other Fiber Composites) By Resin Type (Thermoset Composites and Thermoplastic Composites), By Manufacturing Process (Layup Process, Filament Winding Process, Injection Molding Process, Pultrusion Process, Compression Molding Process, Resin Transfer Molding Process and Others), By End-User Industry (Aerospace & Defense, Wind Energy, Automotive & Transportation, Construction & Infrastructure, Marine, Pipes & Tanks, Electrical & Electronics and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028

Published Date: 30-Aug-2021 Category: Chemical & Materials Report Format : PDF Pages: 185 Report Code: ZMR-509 Status : Published

The global composite materials market is estimated for USD 74.08 Billion in 2020 and is expected to reach USD 136.88 Billion by 2028; growing at a CAGR of composite materials market will be 8.23 % from 2021 to 2028.

Description

Market Overview

The global composite materials market is estimated for USD 74.08 Billion in 2020 and is expected to reach USD 136.88 Billion by 2028; growing at a CAGR of composite materials market will be 8.23 % from 2021 to 2028.

Materials that are formed by the combination more than two materials with different properties, without blending or dissolving them into each other are called composite material. Some examples of composite include mud bricks, fiberglass and concrete. Most of these composites material are made by taking one material and having it surround fragments of a stronger material. Currently the aerospace and defense industry is facing a supply demand crunch, due to the huge order backlog and orders placed in the past, which is expected to propel the production in the industry, due to the uplifting of lockdown in phases.

Global Composite Materials Market Size

COVID-19 Impact Analysis

The COVID-19 has negatively impacted the demand and supply for composites material across numerous end-use industry which includes automotive & transportation, aerospace & defense, wind energy, pipes & tanks and construction & infrastructure. The restriction in the movement of goods and services resulted in non-arrival or delay of raw materials, disruption in the financial flows along with surging no show among production line workers have forced aircraft and manufacturers to operate at partial or zero capacities. This has leading to condensed demand for composites.

Growth Factors

The composite materials market is anticipated to witness growth in the estimated timeframe. This surge is due to the rising demand for carbon fibers among the end-user application, especially in the aerospace & defense applications. In the past few years the automotive segment has become progressively obsessive with consumption of carbon fiber. The rising use of carbon fiber in the automotive sector is due to the factors related to the reduction of carbon footprint, e-mobility and lightweight construction. The growth in the demand for composite material is also due to the surging fuel price, which has triggered the demand for electric vehicles.  These materials are widely used as an alternative for wood, aluminum and steel owing to its strength to weight ratio. Raw materials that are required to manufacture composites material include silicone, polyurethane and polyamide among others. These products are also used in other applications such as coatings, construction, adhesives and others. The large number of raw material suppliers is expected to influence market growth in the long run.

Report Scope:

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Fiber Type Segment Analysis Preview

Glass fiber under fiber type is expected to dominant the fiber type segment and is accounted for a share above 60% in 2019. This surge is due to the high demand in of glass fiber in construction, electrical and electronics, wind energy and transportation industries. It is high in demand due to their low cost and superior mechanical and physical properties such as durability, strength, stability, lightweight and flexibility. These fibers are mostly used in pipes & tanks, wind energy, construction & infrastructure and electrical & electronics. The demand glass fibs has seen slow growth in above mentioned industries due to pandemic, but will gain traction with the recovery in end-use industry.

End-User Industry Segment Analysis Preview

Automotive & transportation under end-user industry segment will grow at a CAGR of over 5.3% in 2021 to 2028. The surge is due to the surging demand is due to its strength-to-weight ratio it offers. Its light weight with a given strength as compared to word, aluminum and other materials makes the use of composites vital for transportation industry. The changing environmental regulations and standards in order to reduce carbon emission, specifically in Europe, North America and China, are some of the major factors responsible for the introduction of lightweight and fuel-efficient composites. Due to the pandemic automobile manufacturers and component suppliers across regions were struggling to continue production after the closure of manufacturing plants in many countries. However, with the rise in the travel after the uplifting of the lockdown and the use of private cars for commutation will fuel automotive demand for composites post pandemic.

Global Composite Materials Market Share

Regional Analysis Preview

Asia Pacific held a share above 20% in the composite materials market in 2019. This is due to the surging demand of composite material among numerous end-use industries in major economies of Asia Pacific like Japan, India and China. The emergence of major shipbuilding centers in Asia Pacific in Indonesia, Philippines, Malaysia, Vietnam and Singapore is also anticipated to fuel the demand for composites in the Asia pacific region over the projected period.

Surging investment in the construction activities in India and China the demand for composite materials is projected to surge in the estimated time period. Additionally, the rise in the household income coupled with the people migrating from to urban areas along with the increase in the standard of living in anticipated driving the demand for residential construction sector in the country, eventually propelling the demand for composite material in the long run.

North America is expected to grow at a CAGR of over 7% in 2021-2028. The surge is due to the robust growth of electrical and electronics, aerospace and defense and automotive industries. U.S. is the manufacturer of large passenger aircraft, commercial aircraft, defense aircraft and cargo jets which is estimated to fuel the market growth in the estimate period. The aerospace and defense industry is vital to the composite market. These materials are utilized in the interior and exterior parts of military aircraft, commercial aircraft, business jets, general aviation aircraft and spacecraft owing to their properties such as safety, lightweight, aerodynamic performance, high reliability, all-weather operation and stealth, which is expected to boost the demand for composite material in the region.

Global Composite Materials Market Regional Analysis

Key Market Players & Competitive Landscape

Some of the key players of composite materials market are 3M, Dupont, Dit B.V., Composites Universal Group, Cabot Corporation, Mitsubishi Chemical Corporation, Owens Corning, Teijin Limited, Toray Industries Incorporation and SGL Group among others. Market players are Indulge in various initiatives like research and development, technology innovations, merger & acquisitions and partnerships to manufacture lightweight and cost-effective composite products.

The global composite materials market is segmented as follows:

By Fiber Type

  • Glass Fiber Composites
  • Carbon Fiber Composites
  • Natural Fiber Composites
  • Other

By Resin Type

  • Thermoset Composites
  • Thermoplastic  Composites

By Manufacturing Process

  • Layup Process
  • Filament Winding Process
  • Injection Molding Process
  • Pultrusion Process
  • Compression Molding Process
  • Resin Transfer Molding Process
  • Others

By End-User Industry

  • Aerospace & Defense
  • Wind Energy
  • Automotive & Transportation
  • Construction & Infrastructure
  • Marine
  • Pipes & Tanks
  • Electrical & Electronics
  • Others

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

  • Chapter No. 1 Introduction
    • 1.1. Report Description
      • 1.1.1. Purpose of the Report
      • 1.1.2. USP & Key Offerings
    • 1.2. Key Benefits for Stakehulders
    • 1.3. Target Audience
    • 1.4. Report Scope
  • Chapter No. 2 Executive Summary
    • 2.1. Key Findings
      • 2.1.1. Top Investment Pockets
        • 2.1.1.1. Market Attractiveness Analysis, By Fiber Type
        • 2.1.1.2. Market Attractiveness Analysis, By Resin Type
        • 2.1.1.3. Market Attractiveness Analysis, By Manufacturing Process
        • 2.1.1.4. Market Attractiveness Analysis, By End-User Industry
        • 2.1.1.5. Market Attractiveness Analysis, By Region
    • 2.2. Market Snapshot
    • 2.3. Global Composite Materials Market, 2016 – 2028 (USD Billion)
    • 2.4. Insights from Primary Respondents
  • Chapter No. 3 COVID 19 Impact Analysis
    • 3.1. Impact Assessment of COVID-19 Pandemic, By Region
      • 3.1.1. North America
      • 3.1.2. Europe
      • 3.1.3. Asia Pacific
      • 3.1.4. Latin America
      • 3.1.5. The Middle-East and Africa
    • 3.2. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Billion)
    • 3.3. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Billion)
    • 3.4. Short Term Dynamics
    • 3.5. Long Term Dynamics
  • Chapter No. 4 Composite Materials Market – Fiber Type Segment Analysis
    • 4.1. Overview
      • 4.1.1. Market Revenue Share, By Fiber Type, 2020 & 2028
    • 4.2. Glass Fiber Composites
      • 4.2.1. Market Size and Forecast, By Region (USD Billion)
      • 4.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
    • 4.3. Carbon Fiber Composites
      • 4.3.1. Market Size and Forecast, By Region (USD Billion)
      • 4.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
    • 4.4. Natural Fiber Composites
      • 4.4.1. Market Size and Forecast, By Region (USD Billion)
      • 4.4.2. Comparative Revenue Analysis, By Country, 2020 & 2028
    • 4.5. Other Fiber Composites
      • 4.5.1. Market Size and Forecast, By Region (USD Billion)
      • 4.5.2. Comparative Revenue Analysis, By Country, 2020 & 2028
  • Chapter No. 5 Composite Materials Market – Resin Type Segment Analysis
    • 5.1. Overview
      • 5.1.1. Market Revenue Share, By Resin Type, 2020 & 2028
    • 5.2. Thermoset Composites
      • 5.2.1. Market Size and Forecast, By Region (USD Billion)
      • 5.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
    • 5.3. Thermoplastic Composites
      • 5.3.1. Market Size and Forecast, By Region (USD Billion)
      • 5.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
  • Chapter No. 6 Composite Materials Market – Manufacturing Process Segment Analysis
    • 6.1. Overview
      • 6.1.1. Market Revenue Share, By Manufacturing Process, 2020 & 2028
    • 6.2. Layup Process
      • 6.2.1. Market Size and Forecast, By Region (USD Billion)
      • 6.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
    • 6.3. Filament Winding Process
      • 6.3.1. Market Size and Forecast, By Region (USD Billion)
      • 6.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
    • 6.4. Injection Mulding Process
      • 6.4.1. Market Size and Forecast, By Region (USD Billion)
      • 6.4.2. Comparative Revenue Analysis, By Country, 2020 & 2028
    • 6.5. Pultrusion Process
      • 6.5.1. Market Size and Forecast, By Region (USD Billion)
      • 6.5.2. Comparative Revenue Analysis, By Country, 2020 & 2028
    • 6.6. Compression Mulding Process
      • 6.6.1. Market Size and Forecast, By Region (USD Billion)
      • 6.6.2. Comparative Revenue Analysis, By Country, 2020 & 2028
    • 6.7. Resin Transfer Mulding Process
      • 6.7.1. Market Size and Forecast, By Region (USD Billion)
      • 6.7.2. Comparative Revenue Analysis, By Country, 2020 & 2028
    • 6.8. Others
      • 6.8.1. Market Size and Forecast, By Region (USD Billion)
      • 6.8.2. Comparative Revenue Analysis, By Country, 2020 & 2028
  • Chapter No. 7 Composite Materials Market – End-User Industry Segment Analysis
    • 7.1. Overview
      • 7.1.1. Market Revenue Share, By End-User Industry, 2020 & 2028
    • 7.2. Aerospace & Defense
      • 7.2.1. Market Size and Forecast, By Region (USD Billion)
      • 7.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
    • 7.3. Automotive & Transportation
      • 7.3.1. Market Size and Forecast, By Region (USD Billion)
      • 7.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
    • 7.4. Construction & Infrastructure
      • 7.4.1. Market Size and Forecast, By Region (USD Billion)
      • 7.4.2. Comparative Revenue Analysis, By Country, 2020 & 2028
    • 7.5. Marine
      • 7.5.1. Market Size and Forecast, By Region (USD Billion)
      • 7.5.2. Comparative Revenue Analysis, By Country, 2020 & 2028
    • 7.6. Pipes & Tanks
      • 7.6.1. Market Size and Forecast, By Region (USD Billion)
      • 7.6.2. Comparative Revenue Analysis, By Country, 2020 & 2028
    • 7.7. Electrical & Electronics
      • 7.7.1. Market Size and Forecast, By Region (USD Billion)
      • 7.7.2. Comparative Revenue Analysis, By Country, 2020 & 2028
    • 7.8. Others
      • 7.8.1. Market Size and Forecast, By Region (USD Billion)
      • 7.8.2. Comparative Revenue Analysis, By Country, 2020 & 2028
  • Chapter No. 8 Composite Materials Market – Regional Analysis
    • 8.1. Overview
      • 8.1.1. Global Market Revenue Share, By Region, 2020 & 2028
      • 8.1.2. Global Market Revenue, By Region, 2016 – 2028 (USD Billion)
    • 8.2. North America
      • 8.2.1. North America Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 8.2.2. North America Market Revenue, By Fiber Type, 2016 – 2028
      • 8.2.3. North America Market Revenue, By Resin Type, 2016 – 2028
      • 8.2.4. North America Market Revenue, By Manufacturing Process, 2016 – 2028
      • 8.2.5. North America Market Revenue, By End-User Industry, 2016 – 2028
      • 8.2.6. U.S.
        • 8.2.6.1. U.S. Market Revenue, By Fiber Type, 2016 – 2028
        • 8.2.6.2. U.S. Market Revenue, By Resin Type, 2016 – 2028
        • 8.2.6.3. U.S. Market Revenue, By Manufacturing Process, 2016 – 2028
        • 8.2.6.4. U.S. Market Revenue, By End-User Industry, 2016 – 2028
      • 8.2.7. Canada
        • 8.2.7.1. Canada Market Revenue, By Fiber Type, 2016 – 2028
        • 8.2.7.2. Canada Market Revenue, By Resin Type, 2016 – 2028
        • 8.2.7.3. Canada Market Revenue, By Manufacturing Process, 2016 – 2028
        • 8.2.7.4. Canada Market Revenue, By End-User Industry, 2016 – 2028
      • 8.2.8. Mexico
        • 8.2.8.1. Mexico Market Revenue, By Fiber Type, 2016 – 2028
        • 8.2.8.2. Mexico Market Revenue, By Resin Type, 2016 – 2028
        • 8.2.8.3. Mexico Market Revenue, By Manufacturing Process, 2016 – 2028
        • 8.2.8.4. Mexico Market Revenue, By End-User Industry, 2016 – 2028
    • 8.3. Europe
      • 8.3.1. Europe Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 8.3.2. Europe Market Revenue, By Fiber Type, 2016 – 2028
      • 8.3.3. Europe Market Revenue, By Resin Type, 2016 – 2028
      • 8.3.4. Europe Market Revenue, By Manufacturing Process, 2016 – 2028
      • 8.3.5. Europe Market Revenue, By End-User Industry, 2016 – 2028
      • 8.3.6. Germany
        • 8.3.6.1. Germany Market Revenue, By Fiber Type, 2016 – 2028
        • 8.3.6.2. Germany Market Revenue, By Resin Type, 2016 – 2028
        • 8.3.6.3. Germany Market Revenue, By Manufacturing Process, 2016 – 2028
        • 8.3.6.4. Germany Market Revenue, By End-User Industry, 2016 – 2028
      • 8.3.7. France
        • 8.3.7.1. France Market Revenue, By Fiber Type, 2016 – 2028
        • 8.3.7.2. France Market Revenue, By Resin Type, 2016 – 2028
        • 8.3.7.3. France Market Revenue, By Manufacturing Process, 2016 – 2028
        • 8.3.7.4. France Market Revenue, By End-User Industry, 2016 – 2028
      • 8.3.8. U.K.
        • 8.3.8.1. U.K. Market Revenue, By Fiber Type, 2016 – 2028
        • 8.3.8.2. U.K. Market Revenue, By Resin Type, 2016 – 2028
        • 8.3.8.3. U.K. Market Revenue, By Manufacturing Process, 2016 – 2028
        • 8.3.8.4. U.K. Market Revenue, By End-User Industry, 2016 – 2028
      • 8.3.9. Italy
        • 8.3.9.1. Italy Market Revenue, By Fiber Type, 2016 – 2028
        • 8.3.9.2. Italy Market Revenue, By Resin Type, 2016 – 2028
        • 8.3.9.3. Italy Market Revenue, By Manufacturing Process, 2016 – 2028
        • 8.3.9.4. Italy Market Revenue, By End-User Industry, 2016 – 2028
      • 8.3.10. Spain
        • 8.3.10.1. Spain Market Revenue, By Fiber Type, 2016 – 2028
        • 8.3.10.2. Spain Market Revenue, By Resin Type, 2016 – 2028
        • 8.3.10.3. Spain Market Revenue, By Manufacturing Process, 2016 – 2028
        • 8.3.10.4. Spain Market Revenue, By End-User Industry, 2016 – 2028
      • 8.3.11. Rest of Europe
        • 8.3.11.1. Rest of Europe Market Revenue, By Fiber Type, 2016 – 2028
        • 8.3.11.2. Rest of Europe Market Revenue, By Resin Type, 2016 – 2028
        • 8.3.11.3. Rest of Europe Market Revenue, By Manufacturing Process, 2016 – 2028
        • 8.3.11.4. Rest of Europe Market Revenue, By End-User Industry, 2016 – 2028
    • 8.4. Asia Pacific
      • 8.4.1. Asia Pacific Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 8.4.2. Asia Pacific Market Revenue, By Fiber Type, 2016 – 2028
      • 8.4.3. Asia Pacific Market Revenue, By Resin Type, 2016 – 2028
      • 8.4.4. Asia Pacific Market Revenue, By Manufacturing Process, 2016 – 2028
      • 8.4.5. Asia Pacific Market Revenue, By End-User Industry, 2016 – 2028
      • 8.4.6. China
        • 8.4.6.1. China Market Revenue, By Fiber Type, 2016 – 2028
        • 8.4.6.2. China Market Revenue, By Resin Type, 2016 – 2028
        • 8.4.6.3. China Market Revenue, By Manufacturing Process, 2016 – 2028
        • 8.4.6.4. China Market Revenue, By End-User Industry, 2016 – 2028
      • 8.4.7. Japan
        • 8.4.7.1. Japan Market Revenue, By Fiber Type, 2016 – 2028
        • 8.4.7.2. Japan Market Revenue, By Resin Type, 2016 – 2028
        • 8.4.7.3. Japan Market Revenue, By Manufacturing Process, 2016 – 2028
        • 8.4.7.4. Japan Market Revenue, By End-User Industry, 2016 – 2028
      • 8.4.8. India
        • 8.4.8.1. India Market Revenue, By Fiber Type, 2016 – 2028
        • 8.4.8.2. India Market Revenue, By Resin Type, 2016 – 2028
        • 8.4.8.3. India Market Revenue, By Manufacturing Process, 2016 – 2028
        • 8.4.8.4. India Market Revenue, By End-User Industry, 2016 – 2028
      • 8.4.9. South Korea
        • 8.4.9.1. South Korea Market Revenue, By Fiber Type, 2016 – 2028
        • 8.4.9.2. South Korea Market Revenue, By Resin Type, 2016 – 2028
        • 8.4.9.3. South Korea Market Revenue, By Manufacturing Process, 2016 – 2028
        • 8.4.9.4. South Korea Market Revenue, By End-User Industry, 2016 – 2028
      • 8.4.10. South-East Asia
        • 8.4.10.1. South-East Asia Market Revenue, By Fiber Type, 2016 – 2028
        • 8.4.10.2. South-East Asia Market Revenue, By Resin Type, 2016 – 2028
        • 8.4.10.3. South-East Asia Market Revenue, By Manufacturing Process, 2016 – 2028
        • 8.4.10.4. South-East Asia Market Revenue, By End-User Industry, 2016 – 2028
      • 8.4.11. Rest of Asia Pacific
        • 8.4.11.1. Rest of Asia Pacific Market Revenue, By Fiber Type, 2016 – 2028
        • 8.4.11.2. Rest of Asia Pacific Market Revenue, By Resin Type, 2016 – 2028
        • 8.4.11.3. Rest of Asia Pacific Market Revenue, By Manufacturing Process, 2016 – 2028
        • 8.4.11.4. Rest of Asia Pacific Market Revenue, By End-User Industry, 2016 – 2028
    • 8.5. Latin America
      • 8.5.1. Latin America Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 8.5.2. Latin America Market Revenue, By Fiber Type, 2016 – 2028
      • 8.5.3. Latin America Market Revenue, By Resin Type, 2016 – 2028
      • 8.5.4. Latin America Market Revenue, By Manufacturing Process, 2016 – 2028
      • 8.5.5. Latin America Market Revenue, By End-User Industry, 2016 – 2028
      • 8.5.6. Brazil
        • 8.5.6.1. Brazil Market Revenue, By Fiber Type, 2016 – 2028
        • 8.5.6.2. Brazil Market Revenue, By Resin Type, 2016 – 2028
        • 8.5.6.3. Brazil Market Revenue, By Manufacturing Process, 2016 – 2028
        • 8.5.6.4. Brazil Market Revenue, By End-User Industry, 2016 – 2028
      • 8.5.7. Argentina
        • 8.5.7.1. Argentina Market Revenue, By Fiber Type, 2016 – 2028
        • 8.5.7.2. Argentina Market Revenue, By Resin Type, 2016 – 2028
        • 8.5.7.3. Argentina Market Revenue, By Manufacturing Process, 2016 – 2028
        • 8.5.7.4. Argentina Market Revenue, By End-User Industry, 2016 – 2028
      • 8.5.8. Rest of Latin America
        • 8.5.8.1. Rest of Latin America Market Revenue, By Fiber Type, 2016 – 2028
        • 8.5.8.2. Rest of Latin America Market Revenue, By Resin Type, 2016 – 2028
        • 8.5.8.3. Rest of Latin America Market Revenue, By Manufacturing Process, 2016 – 2028
        • 8.5.8.4. Rest of Latin America Market Revenue, By End-User Industry, 2016 – 2028
    • 8.6. The Middle-East and Africa
      • 8.6.1. The Middle-East and Africa Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 8.6.2. The Middle-East and Africa Market Revenue, By Fiber Type, 2016 – 2028
      • 8.6.3. The Middle-East and Africa Market Revenue, By Resin Type, 2016 – 2028
      • 8.6.4. The Middle-East and Africa Market Revenue, By Manufacturing Process, 2016 – 2028
      • 8.6.5. The Middle-East and Africa Market Revenue, By End-User Industry, 2016 – 2028
      • 8.6.6. GCC Countries
        • 8.6.6.1. GCC Countries Market Revenue, By Fiber Type, 2016 – 2028
        • 8.6.6.2. GCC Countries Market Revenue, By Resin Type, 2016 – 2028
        • 8.6.6.3. GCC Countries Market Revenue, By Manufacturing Process, 2016 – 2028
        • 8.6.6.4. GCC Countries Market Revenue, By End-User Industry, 2016 – 2028
      • 8.6.7. South Africa
        • 8.6.7.1. South Africa Market Revenue, By Fiber Type, 2016 – 2028
        • 8.6.7.2. South Africa Market Revenue, By Resin Type, 2016 – 2028
        • 8.6.7.3. South Africa Market Revenue, By Manufacturing Process, 2016 – 2028
        • 8.6.7.4. South Africa Market Revenue, By End-User Industry, 2016 – 2028
      • 8.6.8. Rest of Middle-East Africa
        • 8.6.8.1. Rest of Middle-East Africa Market Revenue, By Fiber Type, 2016 – 2028
        • 8.6.8.2. Rest of Middle-East Africa Market Revenue, By Resin Type, 2016 – 2028
        • 8.6.8.3. Rest of Middle-East Africa Market Revenue, By Manufacturing Process, 2016 – 2028
        • 8.6.8.4. Rest of Middle-East Africa Market Revenue, By End-User Industry, 2016 – 2028
  • Chapter No. 9 Composite Materials Market – Industry Analysis
    • 9.1. Introduction
    • 9.2. Market Drivers
      • 9.2.1. Driving Factor 1 Analysis
      • 9.2.2. Driving Factor 2 Analysis
    • 9.3. Market Restraints
      • 9.3.1. Restraining Factor Analysis
    • 9.4. Market Opportunities
      • 9.4.1. Market Opportunity Analysis
    • 9.5. Porter’s Five Forces Analysis
    • 9.6. PEST Analysis
    • 9.7. Regulatory Landscape
    • 9.8. Technulogy Landscape
    • 9.9. Regional Market Trends
      • 9.9.1. North America
      • 9.9.2. Europe
      • 9.9.3. Asia Pacific
      • 9.9.4. Latin America
      • 9.9.5. The Middle-East and Africa
    • 9.10. Value Chain Analysis
    • 9.11. Downstream Buyers
    • 9.12. Distributors/Traders List
  • Chapter No. 10 Competitive Landscape
    • 10.1. Company Market Share Analysis – 2020
      • 10.1.1. Global Composite Materials Market: Company Market Share, 2020
    • 10.2. Strategic Developments
      • 10.2.1. Acquisitions & Mergers
      • 10.2.2. New Product Launch
      • 10.2.3. Regional Expansion
    • 10.3. Company Strategic Developments – Heat Map Analysis
  • Chapter No. 11 Company Profiles
    • 11.1. 3M
      • 11.1.1. Company Overview
      • 11.1.2. Key Executives
      • 11.1.3. Product Portfulio
      • 11.1.4. Financial Overview
      • 11.1.5. Operating Business Segments
      • 11.1.6. Business Performance
      • 11.1.7. Recent Developments
    • 11.2. Dupont
    • 11.3. Dit B.V.
    • 11.4. Composites Universal Group
    • 11.5. Cabot Corporation
    • 11.6. Mitsubishi Chemical Corporation
    • 11.7. Owens Corning
    • 11.8. Teijin Limited.
    • 11.9. Toray Industries Inc.
    • 11.10. SGL Group
  • Chapter No. 12 Marketing Strategy Analysis
    • 12.1. Marketing Channel
    • 12.2. Direct Marketing
    • 12.3. Indirect Marketing
    • 12.4. Marketing Channel Development Trends
    • 12.5. Economic/Pulitical Environmental Change
  • Chapter No. 13 Research Methodulogy
    • 13.1. Research Methodulogy
    • 13.2. Phase I - Secondary Research
    • 13.3. Phase II - Data Modeling
      • 13.3.1. Company Share Analysis Model
      • 13.3.2. Revenue Based Modeling
    • 13.4. Phase III - Primary Research
    • 13.5. Research Limitations
      • 13.5.1. Assumptions

Methodology


Frequently Asked Questions

The global composite materials market at USD 74.08 Billion in 2020.

The global composite materials market is expected to reach USD 136.88 Billion by 2028, growing at a CAGR of 8.23% between 2021 to 2028.

Some of the key factors driving the global composite materials market are due rising demand for carbon fibers among the end-user application, especially in the aerospace & defense applications. In the past few years the automotive segment has become progressively obsessive with consumption of carbon fiber. The rising use of carbon fiber in the automotive sector is due to the factors related to the reduction of carbon footprint, e-mobility and lightweight construction. The growth in the demand for composite material is also due to the surging fuel price, which has triggered the demand for electric vehicles.  These materials are widely used as an alternative for wood, aluminum and steel owing to its strength to weight ratio. Raw materials that are required to manufacture composites material include silicone, polyurethane and polyamide among others. These products are also used in other applications such as coatings, construction, adhesives and others. The large number of raw material suppliers is expected to influence market growth in the long run.

North America is expected to grow at a CAGR of over 7% in 2021-2028. The surge is due to the robust growth of electrical and electronics, aerospace and defense and automotive industries. U.S. is the manufacturer of large passenger aircraft, commercial aircraft, defense aircraft and cargo jets which is estimated to fuel the market growth in the estimate period. The aerospace and defense industry is vital to the composite market.

These materials are utilized in the interior and exterior parts of military aircraft, commercial aircraft, business jets, general aviation aircraft and spacecraft owing to their properties such as safety, lightweight, aerodynamic performance, high reliability, all-weather operation and stealth, which is expected to boost the demand for composite material in the region.

Some of the key players of composite materials market are 3M, Dupont, Dit B.V., Composites Universal Group, Cabot Corporation, Mitsubishi Chemical Corporation, Owens Corning, Teijin Limited, Toray Industries Incorporation and SGL Group among others. Market players are Indulge in various initiatives like research and development, technology innovations, merger & acquisitions and partnerships to manufacture lightweight and cost-effective composite products.

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