Composites Market - Global Trends and Forecasts to 2021 - New Study Released

From: Fast Market Research, Inc.
Published: Thu Jun 02 2016

Composites Market by Type (Carbon Fiber Composites, Glass Fiber Composites and Others), Resin Type (Thermoplastic Composites and Thermosetting Composites), Manufacturing Process, Application and by Region - Global Trends and Forecasts to 2021

The global market for composites is projected to grow from USD 69.50 billion in 2015 to USD 105.26 billion by 2021, at a CAGR of 7.04% between 2016 and 2021. This high growth is attributed to increasing use of composites in the aerospace & defense, wind, and transportation applications.

"The aerospace & defense application accounts for the largest share in the composites market by value"

The aerospace & defense application accounts for the largest share of the composites market. Composite structures are designed to survive extreme operating conditions such as high stress, shock, and impact loads. These requirements of complex aerospace structures are fulfilled by composites. There is an increase in the demand for composites due to new aircraft programs, including the Airbus A350 XWB and A320neo and the Boeing 787 and 737 MAX. This trend is expected to continue in the next five years due to the delivery backlog of aircrafts from major aerospace manufacturers.

Full Report Details at

"Asia-Pacific projected to be the fastest-growing composites market"

Asia-Pacific dominated the composites market, followed by North America. It is also the most promising market for composites in the next five years. Rapid industrialization and urbanization have led to increase in demand for composites from construction, wind, pipe & tank, automotive, electronics & semiconductor, and other industries in the region. China is expected to have the largest market share in the Asia-Pacific region due to its rapidly growing manufacturing sector in the country.

In the process of determining and verifying the market size gathered through secondary research for several segments and sub-segments, extensive primary interviews were conducted as follows:-

* By Company Type: Tier 1 (70%), Tier 2 (25%) and Tier 3 (5%).
* By Designation: C-level (31%), Director Level (23%) and others (46%)
* By Region: North America (65%), Europe (24%), Asia-Pacific (9%), and RoW (2%)

Composites are finding its use in emerging applications such as sporting goods, consumer goods, healthcare, and so on. It is used in skis, snowboards, golf clubs, archery bows, fishing rods, racquets, stacking chairs, and so on.

The various key players profiled in the report are as follows:

1. Cytec-Solvay Group (U.S.)

2. E.I. DuPont Nemours & Co. (U.S.)

3. Huntsman Corporation (U.S.)

4. PPG Industries (U.S.)

5. Toray Industries (Japan)

6. Teijin Limited (Japan)

7. Owen Corning (U.S.)

8. Hexcel Corporation (U.S.)

9. Momentive Performance Materials, Inc. (U.S.)

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