Global Composite Materials Market, By Resin (Thermoset Resin and Thermoplastic Resin), Fiber Type (Glass Fiber, Carbon Fiber, Aramid Fiber, and Others), Coatings (Gel Coat and Surface Veil), Adhesives (Epoxies, Bismaleimide, Cyanate Ester, Modified Acrylics, Polyurethanes, and Silicones), End-user Industry (Construction, Transportation, Electronics & Electrical, Healthcare, Power Generation, Industrial, Aerospace & Defense, Marine, and Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
The composite materials market is expected to be growing at a growth rate of 12.0% in the forecast period of 2021 to 2028. Composite materials market report analyses the growth, which is currently being growing due to the rising for high performance materials, around the world.
The composite material is also called as composition material. It includes one or more basic materials with contrasting chemical or physical properties. They are associated together to provide contrasting materials with diverse characteristics from individual elements. This new material design is definite in characteristic and is lighter, cost efficient, and more able than normal materials. Lately, analysts have purposefully assimilated computation, sensing, communication, and actuation in this material, which is also called as robotic materials.
The growing hi-tech developments in the area of material science, furthermore, high price of composite materials is one of the main factors expected to hamper the growth of the composite materials market as studied. The market is mainly boosted by the growing need for lightweight materials in several industries for example automotive and transportation, wind energy, and aerospace and defense. Another major factor also boosting the market as studied is the rising use of 3D printing with composites. The growing need for electric vehicles in countries like China and United States is also a main boosting factor for the demand for composite material. The increasing electrical and electronics quantity extensions and constant growth in the automotive and aerospace sectors are the factors that are expected to augment the market growth over the forecast period. The presence of a large number of raw material traders is expected to positively impact the growth of the composite material market. However, high level of cost associated with the product is expected to restrain the market growth.
This composite materials market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on composite materials market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Composite Materials Market Scope and Market Size
The composite materials market is segmented on the basis of resin, fiber type, coatings, adhesives and end-user industry. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- Based on resin, the composite materials market is segmented into thermoset resin and thermoplastic resin.
- Based on fiber type, the composite materials market is segmented into glass fiber, carbon fiber, aramid fiber, and others.
- Based on coatings, the composite materials market is segmented into gel coat and surface veil.
- Based on adhesives, the composite materials market is segmented into epoxies, bismaleimide, cyanate ester, modified acrylics, polyurethanes, and silicones.
- Based on end-user industry, the composite materials market is segmented into construction, transportation, electronics and electrical, healthcare, power generation, industrial, aerospace and defense, marine, and others.
Composite Materials Market Country Level Analysis
The composite materials market is analysed and market size, volume information is provided by country, resin, fiber type, coatings, adhesives and end-user industry as referenced above.
The countries covered in the composite materials market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the composite materials market because of the increasing economies of China and India, the existence of noticeable manufactures, and widening transportation, wind energy, and construction and infrastructure industries. Europe is expected to show large amount of growth in the composite materials market due to the increasing need for cost efficient and high performance composites in the recyclable energy industry is estimated to boost the growth of the regional market.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Composite Materials Market Share Analysis
The composite materials market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to the composite materials market.
The major players covered in the composite materials market report are DowDuPont; AGC MATEX CO.,LTD; 3M; TORAY INDUSTRIES, INC.; Magna International Inc.; 3A Composites; Mitsubishi Chemical Corporation; COMPOSITES UNIVERSAL GROUP; Solvay; Axalta Coating Systems, LLC; ASAHI FIBER GLASS Co., Ltd.; Owens Corning; TEIJIN LIMITED; Koninklijke Ten Cate BV; Cabot Corporation; Henkel AG & Co. KGaA; Engineered Bonding Solutions, LLC; Aztron Technologies, LLC.; PPG Industries, Inc.; NEI Corporation; Ashland and H.B. Fuller Company. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.