Global Composite Materials Market to Record 5.1% CAGR to 2022, States Lucintel in Its In-Demand Research Report Available at MarketPublishers.com
31 Jul 2017 • by Natalie Aster
LONDON – The world market for composites has bright future, with opportunities lying in the construction, transportation, wind power, pipe and tank, marine, FMCG, electrical and electronics (E&E), aerospace sectors, amid others.
Worldwide, the composite materials market is projected to be worth USD 39.1 billion by end-2022, and it is likely to register a 5.1% CAGR to 2022. The world composites end-product market is likely to amount to USD 113.2 billion in 2022. The key factors stimulating this market growth include the surging demand for lightweight materials in the aerospace & defense and car industries; high demand for chemical resistance and corrosion materials in pipe & tank and construction industries; strong demand for electric resistivity and low flame retardant materials in the E&E industry.
Emerging trends that are directly impacting the market dynamics include, among others, the development of inexpensive carbon fibers, shorter cycle time of resin system, and high performance glass fiber.
APAC is set to continue taking the lead in the market by value and volume, and is also likely to witness the fastest growth in the offing owing to the growth in transportation, construction, and the E&E segments. The key growth drivers include the rise of car production, robust construction sector growth, and ongoing infrastructural developments.
Insightful research report “Growth Opportunities in the Global Composites Industry” elaborated by Lucintel is an unrivalled source of trustworthy analysis of the market performance globally.
The study sheds light on the high-growth segments in the world composites market by application, raw material, resin type, fiber type, by molding compound, and by region.
It examines the key factors impacting the market dynamics; identifies the driving factors, challenges, and business risks pertaining to the composites market. The report pinpoints major business risks and competitive threats in the marketplace; evaluates the emerging market trends and the reasons lying behind them. It canvasses the changing customer demands, tracks the novel developments in the marketplace, and identifies the companies that are leading the developments discussed. The study discusses the prominent players in the global composites market, reviews the strategic incentives that the leading players are undertaking business growth. It takes a look at some of the competing products, and reviews M&A activity in the marketplace over the past 5 years.
Many other in-demand research reports by Lucintel are available in this catalogue at MarketPublishers.com.