Composites Market Forecast, Trend, Analysis and Competition Tracking – Global Market Insights 2022 to 2030

The global Composites market size is expected to be worth around US$ 150.5 billion by 2030, according to a new report by Vision Research Reports.

The global Composites market size was valued at US$ 87.4 billion in 2020 and is anticipated to grow at a CAGR of 7.6% during forecast period 2021 to 2030.

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Report Coverage

Report Scope Details
Market Size US$ 150.5 Billion by 2030
Growth Rate CAGR of 7.6% From 2021 to 2030
Base Year 2021
Forecast Period 2021 to 2030
Segments Covered Product, Manufacturing process, End use
Regional Scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Companies Mentioned Teijin Ltd; Toray Industries, Inc.; Owens Corning; PPG Industries, Inc.; Huntsman Corporation LLC; SGL Group; Hexcel Corporation; DuPont; Compagnie de Saint-Gobain S.A; Weyerhaeuser Company; Momentive Performance Materials, Inc.; Cytec Industries (Solvay. S.A.); China Jushi Co., Ltd;Veplas Group; Kineco Limited

Growth Factors

Increasing demand for performance materials in various industries such as automotive & transportation, wind energy, and aerospace and defense is expected to drive the market over the forecast period. The ongoing COVID-19 outburst across the globe has significantly impacted the supply chains as major economies suspended the trade operations. Moreover, demand for composites across various end-use industries such as aerospace, automotive, and construction has been reduced. However, with the ease of trade restrictions, the situation is expected to recover in 2021, which will restore the growth trajectory of the market.

By Product Analysis

The glass fiber composites segment led the market and accounted for about 62.1% share of the revenue in 2020. The beneficial properties of these fibers such as low thermal expansion, high stiffness, high temperature tolerance, high chemical resistance, and low weight make them popular for use in industrial and manufacturing applications.

Carbon fiber consists of carbon atoms that are bonded together in crystals aligned parallel to the fiber and these fibers are combined with other materials to form a composite. The beneficial properties of these fibers such as low thermal expansion.

Technological developments for enhancements in the strength and durability of these composites have increased penetration in pipe manufacturing applications.

Other products mainly include silicon carbide fiber, aromatic polyamide fiber, and hybrid fiber. Silicon carbide fiber is a compound of carbon and silicon. It occurs in nature as exceptionally rare mineral moissanite and possesses properties such as high-temperature resistance, high modulus, high tensile strength, and good heat resistance.

By Manufacturing Process Analysis

The layup process for manufacturing composites led the market and accounted for about 34.7% share of the revenue in 2020. Increasing production of boats, wind turbine blades, and architectural moldings are expected to fuel the growth of the layup process segment in the global composites market over the forecast period.

Advancements in the filament winding process have created a wide scope for products including golf club shafts, automobile drive shafts, small aircraft fuselages, spacecraft structures, pressure vessels like firefighter oxygen bottles, and others.

The growing demand for lightweight components in automobile manufacturing is expected to aid the demand for the injection molding process. Moreover, a rise in demand for high-strength components in aerospace and marine industries is likely to support the market in the estimated time.

The pultrusion process is an efficient method for manufacturing fiber reinforced composite products. The process can be used with thermoplastic matrices like Polyethylene Terephthalate (PET), and Polybutylene Terephthalate (PBT).

Compression molding is a technique of molding, wherein the material is preheated and placed in an open and heated mold cavity. The process is widely used for making larger flat or curved composite parts in the automotive, aerospace, and marine industries.

By End-use Analysis

The automotive and transportation segment led the market and accounted for about 21.2% share of the revenue in 2020. This segment is likely to maintain its dominance over the forecast period.

Growing demand for advanced electronics in the household as well as industrial applications is expected to ascend the demand for composites. The most common applications for composites in the electrical and electronics category are terminal boxes, lamp housings, electrical enclosures.

The use of composites in the construction and infrastructure sector is growing rapidly due to their increasing usage in refabrication and retrofit applications. These are used in the construction of windows, doors, non-structural gratings, bridge components, long-span roof structures, paneling, complete bridge systems, and furniture, and other interiors.

By Regional Analysis

Asia Pacific dominated the market and accounted for about 46.1% share of revenue in 2020. Robust automobile manufacturing industries in the region coupled with a high prevalence of electrical and electronic component manufacturers in the region are likely to upscale the demand.

Demand in North America is driven by the robust growth of aerospace and defense, and wind energy harnessing industries. In addition, the automobile manufacturing industries in the U.S. have exhibited a high penetration of composites for the production of critical automobile components and are likely to drive the demand over the estimated time.

Central and South America is one of the most challenging markets for composites. Political and economic instability in the region has had a notable impact on the industry growth over last decade.

Key Players

  • Teijin Ltd.
  • Toray Industries, Inc.
  • Owens Corning
  • PPG Industries, Inc.
  • Huntsman Corporation LLC
  • SGL Group
  • Hexcel Corporation
  • DuPont
  • Compagnie de Saint-Gobain S.A
  • Weyerhaeuser Company
  • Momentive Performance Materials, Inc.
  • Cytec Industries (Solvay. S.A.)
  • China Jushi Co., Ltd.
  • Veplas Group
  • Kineco Limited

Market Segmentation

  • By Product
    • Carbon Fiber
    • Glass Fiber
    • Others
  • By Manufacturing Process
    • Layup Process
    • Filament Winding Process
    • Injection Molding Process
    • Pultrusion Process
    • Compression Molding Process
    • Resin Transfer Molding Process
    • Others
  • By End-use
    • Automotive & Transportation
    • Electrical & Electronics
    • Wind Energy
    • Construction & Infrastructure
    • Pipes & Tanks
    • Marine
    • Others
  • Regional
    • North America
      • U.S.
      • Canada
      • Mexico
    • Europe
      • Germany
      • U.K.
      • France
      • Italy
      • Spain
    • Asia Pacific
      • China
      • Japan
      • India
      • South Korea
    • Central & South America
      • Brazil
      • Argentina
    • Middle East & Africa

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Reasons to Purchase this Report:

– Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
– Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
– Market value USD Million and volume Units Million data for each segment and sub-segment
– Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
– Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Table of Contents

Chapter 1.  Introduction

1.1.  Research Objective

1.2.  Scope of the Study

1.3.  Definition

Chapter 2.  Research Methodology

2.1.  Research Approach

2.2.  Data Sources

2.3.  Assumptions & Limitations

Chapter 3.  Executive Summary

3.1.  Market Snapshot

Chapter 4.  Market Variables and Scope

4.1.  Introduction

4.2.  Market Classification and Scope

4.3.  Industry Value Chain Analysis

4.3.1.    Raw Material Procurement Analysis

4.3.2.    Sales and Distribution Channel Analysis

4.3.3.    Downstream Buyer Analysis

Chapter 5.  Market Dynamics Analysis and Trends

5.1.  Market Dynamics

5.1.1.    Market Drivers

5.1.2.    Market Restraints

5.1.3.    Market Opportunities

5.2.  Porter’s Five Forces Analysis

5.2.1.    Bargaining power of suppliers

5.2.2.    Bargaining power of buyers

5.2.3.    Threat of substitute

5.2.4.    Threat of new entrants

5.2.5.    Degree of competition

Chapter 6.  Competitive Landscape

6.1.1.    Company Market Share/Positioning Analysis

6.1.2.    Key Strategies Adopted by Players

6.1.3.    Vendor Landscape

6.1.3.1.        List of Suppliers

6.1.3.2.        List of Buyers

Chapter 7.  Global Composites Market, By Product

7.1.  Composites Market, by Product, 2021-2030

7.1.1.    Carbon Fiber

7.1.1.1.        Market Revenue and Forecast (2017-2030)

7.1.2.    Glass Fiber

7.1.2.1.        Market Revenue and Forecast (2017-2030)

Chapter 8.  Global Composites Market, By Manufacturing Process

8.1.  Composites Market, by Manufacturing Process, 2021-2030

8.1.1.    Layup Process

8.1.1.1.        Market Revenue and Forecast (2017-2030)

8.1.2.    Filament Winding Process

8.1.2.1.        Market Revenue and Forecast (2017-2030)

8.1.3.    Injection Molding Process

8.1.3.1.        Market Revenue and Forecast (2017-2030)

8.1.4.    Pultrusion Process

8.1.4.1.        Market Revenue and Forecast (2017-2030)

8.1.5.    Compression Molding Process

8.1.5.1.        Market Revenue and Forecast (2017-2030)

8.1.6.    Resin Transfer Molding Process

8.1.6.1.        Market Revenue and Forecast (2017-2030)

Chapter 9.  Global Composites Market, By End User

9.1.  Composites Market, by End User, 2021-2030

9.1.1.    Automotive & Transportation

9.1.1.1.        Market Revenue and Forecast (2017-2030)

9.1.2.    Electrical & Electronics

9.1.2.1.        Market Revenue and Forecast (2017-2030)

9.1.3.    Wind Energy

9.1.3.1.        Market Revenue and Forecast (2017-2030)

9.1.4.    Construction & Infrastructure

9.1.4.1.        Market Revenue and Forecast (2017-2030)

9.1.5.    Pipes & Tanks

9.1.5.1.        Market Revenue and Forecast (2017-2030)

9.1.6.    Marine

9.1.6.1.        Market Revenue and Forecast (2017-2030)

Chapter 10.      Global Composites Market, Regional Estimates and Trend Forecast

10.1.        North America

10.1.1.  Market Revenue and Forecast, by Product (2017-2030)

10.1.2.  Market Revenue and Forecast, by Manufacturing Process (2017-2030)

10.1.3.  Market Revenue and Forecast, by End User (2017-2030)

10.1.4.  U.S.

10.1.4.1.      Market Revenue and Forecast, by Product (2017-2030)

10.1.4.2.      Market Revenue and Forecast, by Manufacturing Process (2017-2030)

10.1.4.3.      Market Revenue and Forecast, by End User (2017-2030)

10.1.5.  Rest of North America

10.1.5.1.      Market Revenue and Forecast, by Product (2017-2030)

10.1.5.2.      Market Revenue and Forecast, by Manufacturing Process (2017-2030)

10.1.5.3.      Market Revenue and Forecast, by End User (2017-2030)

10.2.        Europe

10.2.1.  Market Revenue and Forecast, by Product (2017-2030)

10.2.2.  Market Revenue and Forecast, by Manufacturing Process (2017-2030)

10.2.3.  Market Revenue and Forecast, by End User (2017-2030)

10.2.4.  UK

10.2.4.1.      Market Revenue and Forecast, by Product (2017-2030)

10.2.4.2.      Market Revenue and Forecast, by Manufacturing Process (2017-2030)

10.2.4.3.      Market Revenue and Forecast, by End User (2017-2030)

10.2.5.  Germany

10.2.5.1.      Market Revenue and Forecast, by Product (2017-2030)

10.2.5.2.      Market Revenue and Forecast, by Manufacturing Process (2017-2030)

10.2.5.3.      Market Revenue and Forecast, by End User (2017-2030)

10.2.6.  France

10.2.6.1.      Market Revenue and Forecast, by Product (2017-2030)

10.2.6.2.      Market Revenue and Forecast, by Manufacturing Process (2017-2030)

10.2.6.3.      Market Revenue and Forecast, by End User (2017-2030)

10.2.7.  Rest of Europe

10.2.7.1.      Market Revenue and Forecast, by Product (2017-2030)

10.2.7.2.      Market Revenue and Forecast, by Manufacturing Process (2017-2030)

10.2.7.3.      Market Revenue and Forecast, by End User (2017-2030)

10.3.        APAC

10.3.1.  Market Revenue and Forecast, by Product (2017-2030)

10.3.2.  Market Revenue and Forecast, by Manufacturing Process (2017-2030)

10.3.3.  Market Revenue and Forecast, by End User (2017-2030)

10.3.4.  India

10.3.4.1.      Market Revenue and Forecast, by Product (2017-2030)

10.3.4.2.      Market Revenue and Forecast, by Manufacturing Process (2017-2030)

10.3.4.3.      Market Revenue and Forecast, by End User (2017-2030)

10.3.5.  China

10.3.5.1.      Market Revenue and Forecast, by Product (2017-2030)

10.3.5.2.      Market Revenue and Forecast, by Manufacturing Process (2017-2030)

10.3.5.3.      Market Revenue and Forecast, by End User (2017-2030)

10.3.6.  Japan

10.3.6.1.      Market Revenue and Forecast, by Product (2017-2030)

10.3.6.2.      Market Revenue and Forecast, by Manufacturing Process (2017-2030)

10.3.6.3.      Market Revenue and Forecast, by End User (2017-2030)

10.3.7.  Rest of APAC

10.3.7.1.      Market Revenue and Forecast, by Product (2017-2030)

10.3.7.2.      Market Revenue and Forecast, by Manufacturing Process (2017-2030)

10.3.7.3.      Market Revenue and Forecast, by End User (2017-2030)

10.4.        MEA

10.4.1.  Market Revenue and Forecast, by Product (2017-2030)

10.4.2.  Market Revenue and Forecast, by Manufacturing Process (2017-2030)

10.4.3.  Market Revenue and Forecast, by End User (2017-2030)

10.4.4.  GCC

10.4.4.1.      Market Revenue and Forecast, by Product (2017-2030)

10.4.4.2.      Market Revenue and Forecast, by Manufacturing Process (2017-2030)

10.4.4.3.      Market Revenue and Forecast, by End User (2017-2030)

10.4.5.  North Africa

10.4.5.1.      Market Revenue and Forecast, by Product (2017-2030)

10.4.5.2.      Market Revenue and Forecast, by Manufacturing Process (2017-2030)

10.4.5.3.      Market Revenue and Forecast, by End User (2017-2030)

10.4.6.  South Africa

10.4.6.1.      Market Revenue and Forecast, by Product (2017-2030)

10.4.6.2.      Market Revenue and Forecast, by Manufacturing Process (2017-2030)

10.4.6.3.      Market Revenue and Forecast, by End User (2017-2030)

10.4.7.  Rest of MEA

10.4.7.1.      Market Revenue and Forecast, by Product (2017-2030)

10.4.7.2.      Market Revenue and Forecast, by Manufacturing Process (2017-2030)

10.4.7.3.      Market Revenue and Forecast, by End User (2017-2030)

10.5.        Latin America

10.5.1.  Market Revenue and Forecast, by Product (2017-2030)

10.5.2.  Market Revenue and Forecast, by Manufacturing Process (2017-2030)

10.5.3.  Market Revenue and Forecast, by End User (2017-2030)

10.5.4.  Brazil

10.5.4.1.      Market Revenue and Forecast, by Product (2017-2030)

10.5.4.2.      Market Revenue and Forecast, by Manufacturing Process (2017-2030)

10.5.4.3.      Market Revenue and Forecast, by End User (2017-2030)

10.5.5.  Rest of LATAM

10.5.5.1.      Market Revenue and Forecast, by Product (2017-2030)

10.5.5.2.      Market Revenue and Forecast, by Manufacturing Process (2017-2030)

10.5.5.3.      Market Revenue and Forecast, by End User (2017-2030)

Chapter 11.  Company Profiles

11.1.              Teijin Ltd.

11.1.1.  Company Overview

11.1.2.  Product Offerings

11.1.3.  Financial Performance

11.1.4.  Recent Initiatives

11.2.              Toray Industries, Inc.

11.2.1.  Company Overview

11.2.2.  Product Offerings

11.2.3.  Financial Performance

11.2.4.  Recent Initiatives

11.3.              Owens Corning

11.3.1.  Company Overview

11.3.2.  Product Offerings

11.3.3.  Financial Performance

11.3.4.  Recent Initiatives

11.4.              PPG Industries, Inc.

11.4.1.  Company Overview

11.4.2.  Product Offerings

11.4.3.  Financial Performance

11.4.4.  Recent Initiatives

11.5.              Huntsman Corporation LLC

11.5.1.  Company Overview

11.5.2.  Product Offerings

11.5.3.  Financial Performance

11.5.4.  Recent Initiatives

11.6.              SGL Group

11.6.1.  Company Overview

11.6.2.  Product Offerings

11.6.3.  Financial Performance

11.6.4.  Recent Initiatives

11.7.              Hexcel Corporation

11.7.1.  Company Overview

11.7.2.  Product Offerings

11.7.3.  Financial Performance

11.7.4.  Recent Initiatives

11.8.              DuPont

11.8.1.  Company Overview

11.8.2.  Product Offerings

11.8.3.  Financial Performance

11.8.4.  Recent Initiatives

11.9.              Compagnie de Saint-Gobain S.A

11.9.1.  Company Overview

11.9.2.  Product Offerings

11.9.3.  Financial Performance

11.9.4.  Recent Initiatives

11.10.           Weyerhaeuser Company

11.10.1.               Company Overview

11.10.2.               Product Offerings

11.10.3.               Financial Performance

11.10.4.               Recent Initiatives

Chapter 12.  Research Methodology

12.1.              Primary Research

12.2.              Secondary Research

12.3.              Assumptions

Chapter 13.  Appendix

13.1.              About Us

13.2.              Glossary of Terms

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