Composites Market: Trends, Opportunities and Competitive Analysis [2024-2030]
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Composites Market Trends and Forecast
The future of the global composites market looks promising with opportunities in the transportation, marine, wind energy, aerospace, pipe & tank, construction, E&E, and consumer goods. The global composite materials market is expected to reach an estimated $70 billion by 2030 with a CAGR of 4% from 2023 to 2030. The global composite end product market is expected to reach an estimated of $195.7 billion by 2030. The global composite end product market is expected to reach an estimated of $181.3 billion by 2030. The major drivers for growth in this market are increasing demand for lightweight materials in the aerospace & defense, and automotive industries; corrosion- and- chemical-resistant materials’ demand in the construction, and pipe & tank industries; electrical resistivity and high flame retardant materials’ demand in the electrical and electronics industry.
Emerging Trends in the Composites Market
Emerging trends, which has a direct impact on the dynamics of the industry, are the development of low-cost carbon fibers, high performance glass fiber, and rapid cure resin system.
A total of 240 figures / charts and 55 tables are provided in this 402-page report to help in your business decisions. A sample figure with insights is shown below.
Composites Market by Segment
The study includes a forecast for the global composites market by end use, manufacturing process, molding compound, resin type, fiber type, fiberglass product form, carbon fiber type, and region as follows:
Composites Market by End Use [Volume (Million Pounds) and Value ($M) Shipment Analysis for 2018 – 2030]:
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies composites companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the composites companies profiled in this report includes.
Q1. How big is the composites market?
Answer:The global composite material market is expected to reach an estimated $70 billion by 2030.
Q2. What is the growth forecast for composites market?
Answer:The composite material market is expected to grow at a CAGR of 4% from 2023 to 2030.
Q3. What are the major drivers influencing the growth of the composites market?
Answer: The major drivers for growth in this market are increasing demand for lightweight materials in the aerospace & defense, and automotive industries; corrosion- and- chemical-resistant materials’ demand in the construction, and pipe & tank industries; electrical resistivity and high flame retardant materials’ demand in the electrical and electronics industry.
Q4. What are the major applications or end use industries for global composites?
Answer: Construction and transportation are the major end use for global composites.
Q5. What are the emerging trends in composites market?
Answer:Emerging trends, which has a direct impact on the dynamics of the industry, are the development of low-cost carbon fibers, high performance glass fiber, and rapid cure resin system.
Q6. Which are the key players in composites market?
Answer:Some of the key players in the composites market are as follows:
Answer: Lucintel forecasts that injection molding is expected to be the largest process in terms of value and volume over the forecast period in composite manufacturing because of high-output production rate, low labor cost, and design flexibility.
Q8. In composites market, which region is expected to be the largest in next 5 years?
Answer:APAC is expected to remain the largest region and witness the highest growth over next 5 years
Q9. Do we receive customization in this report?
Answer:Yes, Lucintel provides 10% Customization Without any Additional Cost.
This report answers following 11 key questions
Q.1 What are some of the most promising potential, high-growth opportunities for the global composites market by end use (transportation, marine, wind energy, aerospace, pipe & tank, construction, electrical & electronics, consumer goods, and others), manufacturing process (hand lay-up, spray up, resin infusion, filament winding, pultrusion, injection molding, compression molding, prepreg lay up, and others), molding compound (SMC, BMC, and thermoplastic compounds), resin type (polyester, epoxy, vinyl ester, phenolic, and thermoplastic), fiber type (glass fiber composites, carbon fiber composites, and aramid fiber composites), fiberglass type (single end roving, multi end roving, chopped strand, woven roving, fabrics, chopped strand mat, continuous filament mat, and others), carbon fiber type (PAN based carbon fiber and pitched based carbon fiber), and region (North America, Europe, APAC, and ROW)?
Q. 2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to the market?
Q.6 What are the emerging trends in this market and the reasons behind them?
Q.7 What are the changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11 What M & A activities have taken place in the last 5 years in this market?
For any questions related to composites market or related to composites, composite market, composite market size, composite market analysis, composite suppliers, composite manufacturers, composite raw material, composite cost, composite market trend and forecast, write Lucintel analyst at email: [email protected]. We will be glad to get back to you soon.
Composites Market Trends and Forecast
The future of the global composites market looks promising with opportunities in the transportation, marine, wind energy, aerospace, pipe & tank, construction, E&E, and consumer goods. The global composite materials market is expected to reach an estimated $70 billion by 2030 with a CAGR of 4% from 2023 to 2030. The global composite end product market is expected to reach an estimated of $195.7 billion by 2030. The global composite end product market is expected to reach an estimated of $181.3 billion by 2030. The major drivers for growth in this market are increasing demand for lightweight materials in the aerospace & defense, and automotive industries; corrosion- and- chemical-resistant materials’ demand in the construction, and pipe & tank industries; electrical resistivity and high flame retardant materials’ demand in the electrical and electronics industry.
Emerging Trends in the Composites Market
Emerging trends, which has a direct impact on the dynamics of the industry, are the development of low-cost carbon fibers, high performance glass fiber, and rapid cure resin system.
A total of 240 figures / charts and 55 tables are provided in this 402-page report to help in your business decisions. A sample figure with insights is shown below.
Composites Market by Segment
The study includes a forecast for the global composites market by end use, manufacturing process, molding compound, resin type, fiber type, fiberglass product form, carbon fiber type, and region as follows:
Composites Market by End Use [Volume (Million Pounds) and Value ($M) Shipment Analysis for 2018 – 2030]:
- Transportation
- Marine
- Wind Energy
- Aerospace
- Pipe & Tank
- Construction
- Electrical & Electronics
- Consumer Goods
- Others
- Hand Lay-up
- Spray-up
- Resin Infusion (RRIM, RTM, VARTM)
- Filament Winding
- Pultrusion
- Injection Molding
- Compression Molding
- Prepreg Lay-up
- Other
- SMC
- BMC
- Thermoplastic Compounds ( SFT, LFT, GMT, CFT and Other)
- Polyester
- Epoxy
- Vinyl ester
- Phenolic
- Thermoplastics
- Glass fiber
- Carbon fiber
- Aramid fiber
- Single End Roving
- Multi End Roving
- DUCS
- Continuous Filament Mat
- Yarn
- PAN Based Carbon Fiber
- PITCH Based Carbon Fiber
- North America
- Europe
- Asia Pacific
- ROW
- USA
- Canada
- Mexico
- Germany
- UK
- France
- Italy
- Spain
- Netherland
- China
- India
- Japan
- South Korea
- Brazil
- Russi
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies composites companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the composites companies profiled in this report includes.
- Owens Corning
- Jushi Group
- Nippon Electric Glass Co Ltd.
- CPIC
- Toray Industries
- Hexcel Composites
- Mitsubishi Rayon
- Gurit
- Polynt Reichhold
- Lucintel forecasts construction will remain the largest end use by value and volume due to increasing residential and commercial construction and growth in remolding activities. Aerospace is expected to witness highest growth over the forecast period.
- Transportation will remain the largest end use market over the forecast period due to the increasing production and use of lightweight materials in transportation market. Aerospace is expected to witness the highest growth over the forecast period.
- Asia Pacific is expected to remain the largest region by value and volume, and it is also expected to experience the highest growth over the forecast period because of growth in construction, transportation, and the electrical and electronics segments. The major drivers for growth are increasing automotive production, high growth in construction, and infrastructure development.
- Market Size Estimates:Global composites market size estimation in terms of value ($M) and volume (M lbs)
- Trend and Forecast Analysis:Market trends (2018-2023) and forecast (2024-2030) by various segments and regions.
- Segmentation Analysis: : Composites market size by various segments, such as end use, manufacturing process, molding compound, resin type, fiber type, fiberglass type, and carbon fiber type in terms of value and volume
- Regional Analysis:Global composites market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
- Growth Opportunities:Analysis on growth opportunities in different end use, manufacturing process, molding compound, resin type, fiber type, fiberglass type, carbon fiber type, and regions for the composites market
- Strategic Analysis:This includes M&A, new product development, and competitive landscape for the composites market.
- Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
Q1. How big is the composites market?
Answer:The global composite material market is expected to reach an estimated $70 billion by 2030.
Q2. What is the growth forecast for composites market?
Answer:The composite material market is expected to grow at a CAGR of 4% from 2023 to 2030.
Q3. What are the major drivers influencing the growth of the composites market?
Answer: The major drivers for growth in this market are increasing demand for lightweight materials in the aerospace & defense, and automotive industries; corrosion- and- chemical-resistant materials’ demand in the construction, and pipe & tank industries; electrical resistivity and high flame retardant materials’ demand in the electrical and electronics industry.
Q4. What are the major applications or end use industries for global composites?
Answer: Construction and transportation are the major end use for global composites.
Q5. What are the emerging trends in composites market?
Answer:Emerging trends, which has a direct impact on the dynamics of the industry, are the development of low-cost carbon fibers, high performance glass fiber, and rapid cure resin system.
Q6. Which are the key players in composites market?
Answer:Some of the key players in the composites market are as follows:
- Owens Corning
- Jushi Group
- Nippon Electric Glass Co Ltd.
- CPIC
- Toray Industries
- Hexcel Composites
- Mitsubishi Rayon
- Gurit
- Polynt Reichhold
Answer: Lucintel forecasts that injection molding is expected to be the largest process in terms of value and volume over the forecast period in composite manufacturing because of high-output production rate, low labor cost, and design flexibility.
Q8. In composites market, which region is expected to be the largest in next 5 years?
Answer:APAC is expected to remain the largest region and witness the highest growth over next 5 years
Q9. Do we receive customization in this report?
Answer:Yes, Lucintel provides 10% Customization Without any Additional Cost.
This report answers following 11 key questions
Q.1 What are some of the most promising potential, high-growth opportunities for the global composites market by end use (transportation, marine, wind energy, aerospace, pipe & tank, construction, electrical & electronics, consumer goods, and others), manufacturing process (hand lay-up, spray up, resin infusion, filament winding, pultrusion, injection molding, compression molding, prepreg lay up, and others), molding compound (SMC, BMC, and thermoplastic compounds), resin type (polyester, epoxy, vinyl ester, phenolic, and thermoplastic), fiber type (glass fiber composites, carbon fiber composites, and aramid fiber composites), fiberglass type (single end roving, multi end roving, chopped strand, woven roving, fabrics, chopped strand mat, continuous filament mat, and others), carbon fiber type (PAN based carbon fiber and pitched based carbon fiber), and region (North America, Europe, APAC, and ROW)?
Q. 2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to the market?
Q.6 What are the emerging trends in this market and the reasons behind them?
Q.7 What are the changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11 What M & A activities have taken place in the last 5 years in this market?
For any questions related to composites market or related to composites, composite market, composite market size, composite market analysis, composite suppliers, composite manufacturers, composite raw material, composite cost, composite market trend and forecast, write Lucintel analyst at email: [email protected]. We will be glad to get back to you soon.
1. EXECUTIVE SUMMARY
2. ABOUT THE COMPOSITES INDUSTRY
2.1: What is the Composites Industry
2.2: Characteristics of Composites Industry
3. COMPETITIVE ANALYSIS OF THE STEEL, ALUMINUM, PLASTIC, AND COMPOSITES INDUSTRY
3.1: Competitive Analysis
3.2: Plastic Industry Overview
3.3: Steel Industry Overview
3.4: Aluminum Industry Overview
3.5: Composites Industry Overview
4. GLOBAL REINFORCEMENT MARKET
4.1: Functions of Fiber and Resin Materials in Composites
4.2: Global Composites Industry by Fiber Type
4.3: Global Market Size for Reinforcement
4.3.1: Glass Fiber Market Size by Product Form
4.3.2: Carbon Fiber Market by Product Form
4.3.3: Aramid Fiber Market
4.4: Market Leaders
4.4.1: Glass Fiber Market Leaders
4.4.2: Carbon Fiber Market Leaders
4.4.3: Aramid Fiber Market Leaders
5. GLOBAL RESIN MARKET
5.1: Types of Resin
5.1.1: Thermoset Resin for the Composites Industry
5.1.2: Thermoplastic Resin for the Composites Industry
5.2: Price and Weight Distribution of various Ingredients in Composites
5.2.1: Polyester Resin Applications
5.3: Resin Market
6. GLOBAL COMPOSITES INDUSTRY BY MATERIAL TYPE
6.1: Advance Composites Market
6.2: Raw Materials Market
6.3: Thermoset and Thermoplastic Composites Market
6.4: Thermoplastic Composites Market by Product Form
6.4.1: LFRT or LFT (Long Fiber Thermoplastic Composites)
6.4.2: GMT
6.4.3: Continuous Fiber TPCs
6.5: Composites Market by Molding Compound
7. GLOBAL COMPOSITES BY MARKET SEGMENTS
7.1: Global Composites Market by Segment
7.2: Driving Forces for the Use of Composites Materials
7.3: Key Requirements in Various Market Segments
7.4: Transportation Industry Market Outlook and Trends
7.4.1: Automotive Industry Challenges
7.5: Market Outlook and Trends for the Aerospace and Defense Industry
7.6: Market Outlook and Trend for the Construction Industry
7.6.1: Composites in Bridge Applications
7.6.2: Challenges in Bridge Applications
7.6.3: Non-Bridge Applications
7.7: Pipe and Tank Industry Analysis
7.8: Marine Market Outlook and Industry Trends
7.9: Consumer Goods Market Outlook and Industry Trends
7.10: Electrical and Electronics Industry Outlook
7.11: Wind Energy
8. GLOBAL COMPOSITES MARKET BY MANUFACTURING PROCESS
8.1: Global Composites Market by Manufacturing Process
9. TRENDS AND FORECAST
9.1: Industry Challenges in Recent Years
9.1.1: Energy Cost Squeeze
9.1.2: Challenges of the Glass Fiber Industry
9.1.3: Relative Safety
9.1.4: Challenges for Fabricators
9.2: Trends in Global Composites Industry
9.2.1: Market Trends by Region
9.2.1.1: Market Trend by Applications
9.3: Trends in the North American Composites Industry
9.4: Trends in the European Composites Industry
9.5: Trends in the Asian Composites Industry
9.6: Trends in the ROW Composites Industry
9.7: Composites Industry Forecast
9.8: Forecast for the North American Composites Industry
9.9: Forecast for the European Composites Industry
9.10: Forecast of the Asian Composites Industry
9.11: Forecast for the ROW Composites Industry
9.12: Trends and Forecast for Composites Manufacturing Processes
10. REGIONAL ANALYSIS
10.1: Composites Shipments by Region
10.2: Composites Consumption by Country
10.2.1: Shipments in North American Countries
10.2.2: Shipments in European Countries
10.2.3: Shipments in Asia Pacific Countries
10.3: Composites Application by Region
10.3.1: Composites Market in North America
10.3.2: Composites Market in Europe
10.3.3: Composites Market in Asia Pacific
11. VALUE CHAIN ANALYSIS AND INDUSTRY LEADERS
11.1: Value Chain Analysis
11.2: Industry Leaders
11.2.1: Industry Leaders in Material Supplier Category
11.2.1.1: Industry Leaders in Glass Fibers
11.2.1.2: Industry Leaders in Carbon Fibers
11.2.1.3: Industry Leaders in Aramid Fibers
11.2.1.4: Industry Leaders in Prepreg Manufacturing
11.2.1.5: Industry Leaders in UPR Market
11.2.2: Leaders in End Use Market
11.2.2.1: Industry Leaders in Aerospace Market
11.2.2.2: Leaders in Marine Industry
11.2.2.3: Leaders in the Recreational Industry
11.2.2.4: Market Leaders in Automotive Industry
11.2.2.5: Industry Leaders in Automotive Tier 1 Suppliers
12. MATERIALS AND TECHNOLOGY NEEDS FOR THE FUTURE COMPOSITES INDUSTRY
13. INNOVATIONS IN THE COMPOSITES INDUSTRY
2. ABOUT THE COMPOSITES INDUSTRY
2.1: What is the Composites Industry
2.2: Characteristics of Composites Industry
3. COMPETITIVE ANALYSIS OF THE STEEL, ALUMINUM, PLASTIC, AND COMPOSITES INDUSTRY
3.1: Competitive Analysis
3.2: Plastic Industry Overview
3.3: Steel Industry Overview
3.4: Aluminum Industry Overview
3.5: Composites Industry Overview
4. GLOBAL REINFORCEMENT MARKET
4.1: Functions of Fiber and Resin Materials in Composites
4.2: Global Composites Industry by Fiber Type
4.3: Global Market Size for Reinforcement
4.3.1: Glass Fiber Market Size by Product Form
4.3.2: Carbon Fiber Market by Product Form
4.3.3: Aramid Fiber Market
4.4: Market Leaders
4.4.1: Glass Fiber Market Leaders
4.4.2: Carbon Fiber Market Leaders
4.4.3: Aramid Fiber Market Leaders
5. GLOBAL RESIN MARKET
5.1: Types of Resin
5.1.1: Thermoset Resin for the Composites Industry
5.1.2: Thermoplastic Resin for the Composites Industry
5.2: Price and Weight Distribution of various Ingredients in Composites
5.2.1: Polyester Resin Applications
5.3: Resin Market
6. GLOBAL COMPOSITES INDUSTRY BY MATERIAL TYPE
6.1: Advance Composites Market
6.2: Raw Materials Market
6.3: Thermoset and Thermoplastic Composites Market
6.4: Thermoplastic Composites Market by Product Form
6.4.1: LFRT or LFT (Long Fiber Thermoplastic Composites)
6.4.2: GMT
6.4.3: Continuous Fiber TPCs
6.5: Composites Market by Molding Compound
7. GLOBAL COMPOSITES BY MARKET SEGMENTS
7.1: Global Composites Market by Segment
7.2: Driving Forces for the Use of Composites Materials
7.3: Key Requirements in Various Market Segments
7.4: Transportation Industry Market Outlook and Trends
7.4.1: Automotive Industry Challenges
7.5: Market Outlook and Trends for the Aerospace and Defense Industry
7.6: Market Outlook and Trend for the Construction Industry
7.6.1: Composites in Bridge Applications
7.6.2: Challenges in Bridge Applications
7.6.3: Non-Bridge Applications
7.7: Pipe and Tank Industry Analysis
7.8: Marine Market Outlook and Industry Trends
7.9: Consumer Goods Market Outlook and Industry Trends
7.10: Electrical and Electronics Industry Outlook
7.11: Wind Energy
8. GLOBAL COMPOSITES MARKET BY MANUFACTURING PROCESS
8.1: Global Composites Market by Manufacturing Process
9. TRENDS AND FORECAST
9.1: Industry Challenges in Recent Years
9.1.1: Energy Cost Squeeze
9.1.2: Challenges of the Glass Fiber Industry
9.1.3: Relative Safety
9.1.4: Challenges for Fabricators
9.2: Trends in Global Composites Industry
9.2.1: Market Trends by Region
9.2.1.1: Market Trend by Applications
9.3: Trends in the North American Composites Industry
9.4: Trends in the European Composites Industry
9.5: Trends in the Asian Composites Industry
9.6: Trends in the ROW Composites Industry
9.7: Composites Industry Forecast
9.8: Forecast for the North American Composites Industry
9.9: Forecast for the European Composites Industry
9.10: Forecast of the Asian Composites Industry
9.11: Forecast for the ROW Composites Industry
9.12: Trends and Forecast for Composites Manufacturing Processes
10. REGIONAL ANALYSIS
10.1: Composites Shipments by Region
10.2: Composites Consumption by Country
10.2.1: Shipments in North American Countries
10.2.2: Shipments in European Countries
10.2.3: Shipments in Asia Pacific Countries
10.3: Composites Application by Region
10.3.1: Composites Market in North America
10.3.2: Composites Market in Europe
10.3.3: Composites Market in Asia Pacific
11. VALUE CHAIN ANALYSIS AND INDUSTRY LEADERS
11.1: Value Chain Analysis
11.2: Industry Leaders
11.2.1: Industry Leaders in Material Supplier Category
11.2.1.1: Industry Leaders in Glass Fibers
11.2.1.2: Industry Leaders in Carbon Fibers
11.2.1.3: Industry Leaders in Aramid Fibers
11.2.1.4: Industry Leaders in Prepreg Manufacturing
11.2.1.5: Industry Leaders in UPR Market
11.2.2: Leaders in End Use Market
11.2.2.1: Industry Leaders in Aerospace Market
11.2.2.2: Leaders in Marine Industry
11.2.2.3: Leaders in the Recreational Industry
11.2.2.4: Market Leaders in Automotive Industry
11.2.2.5: Industry Leaders in Automotive Tier 1 Suppliers
12. MATERIALS AND TECHNOLOGY NEEDS FOR THE FUTURE COMPOSITES INDUSTRY
13. INNOVATIONS IN THE COMPOSITES INDUSTRY
