The global Composites Market size was USD 88.53 Billion in 2022 and is expected to reach USD 169.73 Billion in 2032, and register a rapid revenue CAGR of 7.5% during the forecast period. Increasing need for lightweight and high-strength materials in aerospace and defense industries, rapid expansion in the wind energy industry, and increasing use of Composites in the automotive industry to improve fuel economy and cut carbon emissions are major factors driving market revenue growth.
In addition, increasing use of lightweight and high-strength materials to improve fuel-efficiency, decrease emissions, and improve performance in the aerospace and military industry is also expected to drive revenue growth of the market during the forecast period.
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Competitive Landscape:
The global Composites market is highly competitive, with a few large and medium-sized players accounting for a majority of market revenue. The market is characterized by constant innovations in materials and technology, strategic partnerships, mergers, and acquisitions, aimed at improving product offerings, expanding market presence, and increasing market share. Some of the major companies included in the global Composites market report are:
- Hexcel Corporation
- Toray Industries, Inc.
- SGL Carbon SE
- Owens Corning
- Mitsubishi Chemical Holdings Corporation
- Solvay S.A.
- Huntsman Corporation
- Royal DSM N.V.
- TenCate Advanced Compositess B.V.
- Gurit Holding AG
Key questions addressed in the report:
- What is the expected market size of the global Composites market during the forecast period?
- What CAGR is the global market expected to register during the forecast period?
- Which key factors are expected to boost global market growth between 2021 and 2028?
- What are the key restraints that are expected to hamper global market growth?
- Which regional market is expected to register robust CAGR during the forecast period?
- Which key players are operating the global Composites market?
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Composites Market Segmentation:
By Type Outlook:
- Polymer Matrix Compositess
- Ceramic Matrix Compositess
- Metal Matrix Compositess
- Others
By End-Use Outlook:
- Aerospace Defense
- Automotive
- Construction
- Energy
- Others
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
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