Global Composites Market - Ken Research

Global Composites Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 – Ken Research

Global Composite Market By Geography

The Global Composite market is segmented by geography into North America, Europe, Asia- pacific and LAMEA.

Asia Pacific accounted for the largest market share in 2022 within the total Global Composites Market.

Historically, Japan, North America, and Europe dominated the glass fiber and carbon fiber composites market. However, there has been a noticeable trend in recent years toward the developing economies in Asia Pacific and the rest of the world.

For instance, the significant demand for low-cost carriers has raised the market for glass fiber and carbon fiber composites in the aircraft, wind energy, and transportation sectors in rising nations like India, Brazil, and China.

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Competition Scenario In Global Composite Market

The Global Composites Market is highly competitive with ~500 players which include globally diversified players, regional players as well as a large number of country-niche players.

Large global players hold the highest market share of 45% which is followed by the regional players holding a 30% share. Some of the major players in the market include Huntsman Corporation LLC, SGL Group, Teijin Ltd., CooperVision, DuPont, Owens Corning, Toray Industries, Inc., Mitsubishi Chemical Holdings Corporation, Solvay, Exel Group, DOW, and others.

What Is The Expected Future Outlook For The Overall Global Composite Market Across The Globe?

The Global Composite market was valued at USD ~billion in 2022 and is anticipated to reach USD ~billion by the end of 2028F, witnessing a CAGR of ~% during the forecast period 2022-2028F. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.

The Global Composite market is by the desirable performance of composites as well as the high adoption of composites in various end-user industries. However, the market is also constantly being influenced by rapid development in technology, product innovation, and diversification in some countries.

With the increasing acquisition and emergence of new products, the Global Composite market is changing rapidly. For instance, In July 2021, Hexcel, a leader in advanced composites technology, reported that a lightweight camera drone it built utilizing Hexcel HexPly carbon fiber prepregs completed its first flight. A group of students from the University of Applied Sciences Upper Austria in Wels created the composite drone using components provided by Hexcel Neumarkt in Austria.

In September 2019, the acquisition of Ashland Global Holdings Inc.’s composites business by INEOS Enterprises had been announced. A BDO office in Germany is also part of the acquisition. The companies involved in the transaction generate more than US$1.1 billion in annual sales. Over 19 locations in Europe, North and South America, Asia, and the Middle East, have 1,250 employees.

Furthermore, In September 2019, Solvay, at its USA facility in Anaheim, California, increased its capacity for thermoplastic composites by adding a new production line for meeting the strong demand growth from aerospace customers for this high-performance material and Solvay’s proprietary and distinctive technology.

The Global Composites Market is forecasted to continue a gradual growth that is witnessed during the forecast period. Key trends driving market expansion include a rise in demand from end-user industries like automotive and transportation. Demand has increased as a result of improved qualities such as high strength and modulus, long fatigue life, acoustic insulation, reduced weight, and corrosion resistance. The market is highly competitive with ~500 participants concentrating on expansion strategies through product innovations as well as acquisitions and mergers.

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Key Topics Covered in the Report

  • Snapshot of the Global Composites Market
  • Industry Value Chain and Ecosystem Analysis
  • Market size and Segmentation of the Global Composites Market
  • Historic Growth of the Overall Global Composites Market and Segments
  • Competition Scenario of the Market and Key Developments of Competitors
  • Porter’s 5 Forces Analysis of the Global Composites Market
  • Overview, Product Offerings, and SWOT Analysis of Key Competitors
  • COVID-19 Impact on the Overall Global Composites Market
  • Future Market Forecast and Growth Rates of the Total Global Composites Market and by Segments
  • Market Size of Fiber Type / End User Segments with Historical CAGR and Future Forecasts
  • Analysis of the Composites Market in Major Regions
  • Major Production / Consumption Hubs in the Major Regions
  • Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
  • Overview of Notable Emerging Competitor Companies within Each Major Country

Major Players Mentioned in the report

  • Huntsman Corporation LLC
  • SGL Group
  • Teijin Ltd
  • CooperVision
  • DuPont
  • Owens Corning
  • Toray Industries, Inc.
  • Mitsubishi Chemical Holdings Corporation
  • Solvay
  • Exel Group
  • DOW

Notable Emerging Companies Mentioned in the Report

  • Capricorn Composite GmbH
  • Aircraft Composites Sachsen GmbH
  • Fibrolux GmbH
  • Hexcel Corporation
  • INEOS Enterprises
  • Bally Ribbon Mills

Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report

  • Composites Manufacturers
  • Glass Fiber Composites Manufacturers
  • Insulation Manufacturers
  • Raw Material Suppliers for Composites
  • Composites Research and Development Institutes
  • Market Research & Consulting Firms
  • Banking and Financial Service Providers
  • Hardware Electronics Suppliers
  • Auto Component Manufacturers
  • Government & Regulatory Authorities
  • Chemical Research Institutes
  • Specialty Chemicals Material Suppliers
  • Investors in Chemicals Industry
  • Start-ups & Incumbents in Chemical Industry
  • Chemical Testing & Inspection Companies
  • Government Ministries and Departments of Chemicals Industry
  • PE and VC Firms focused on Chemicals Industry
  • Potential Entrants into Composites Industry

Time Period Captured in the Report

  • Historical Period: 2017-2021
  • Forecast Period: 2022E-2028F

For more insights on the market intelligence, refer to the link below:-

Global Composite Material Market

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