Composite Materials Market

The global Composite Materials market was valued at USD 71.12 Billion in 2020 and is projected to reach USD 128.82 Billion by 2028, growing at a CAGR of 7.5% from 2021 to 2028.

A composite material (also called a composition material or shortened to composite, which is the common name) is a material which is produced from two or more constituent materials. These constituent materials have notably dissimilar chemical or physical properties and are merged to create a material with properties unlike the individual elements

The global Composite Materials market report provides a thorough analysis of each segment, region, and country. All the segments are studied considering historical and future trends across geographies. All the segments are analyzed based on trends, market size, and forecasts, and the data is provided for the years 2016–2028. Several growth factors and opportunities impacting various segments have been incorporated in the report. In addition to that, the report will cover a thorough analysis of major players operating in the market based on company overview, product portfolio, recent developments, business strategies, financial performance, and market share among others. Cumulatively, the report will cover all aspects regarding the global Composite Materials market. 

In 2020, swift spread of COVID-19 largely impacted the global business operations, disrupting the supply chain and impairing various industries. The global trading activities were declined severely owing to the nationwide lockdowns, international border seals, and strict social distancing measures. This had a drastic impact on the global economy, as the companies across the globe were forced to either fully close or partially close their operations, leading to disruption in the supply-demand ratio. Moreover, in 2021 several key markets such as U.S., India, and Brazil among others witnessed a second wave of COVID-19 that further disrupted the market. However, it is expected that reopening of trade activities, the market will witness steady growth in demand in the coming years. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends for all the regions and countries.

The report provides a completely separate chapter for COVID-19 Impact Analysis. This chapter includes:

o   Impact Assessment of COVID-19 Pandemic

o   Pre & Post COVID-19 Market Size

o   Qualitative analysis on the short term & long term impact of COVID-19 on the market

o   The analysis provides foremost strategies adopted by competitors to minimize the impact of the pandemic on their business activities and scope for future developments.

The report includes an exhaustive analysis of Composite Materials industry that includes drivers, restraints/challenges, opportunities, and segmental/regional trends among others. Apart from that, it will also cover extensive information on various marketing tools such as PEST Analysis, Porter’s Five Forces Analysis, pricing trends,  SWOT analysis, and value chain among others.

Increasing demand for performance materials in various industries such as automotive & transportation, wind energy, and aerospace and defense is expected to drive the market over the forecast period. 

The market is competitive with a few key players holding a majority of the market share. Their expertise in R&D makes it difficult for the new entrants to operate profitably in the market. However, with the development of products in specific applications to enhance the output of composites is expected to augment the potential market opportunity.

The ongoing COVID-19 outburst across the globe has significantly impacted the supply chains as major economies suspended the trade operations. Moreover, demand for composites across various end-use industries such as aerospace, automotive, and construction has been reduced.

Product Type  Analysis: Preview

On the basis of Product Type, the market is segmented into Carbon Fiber, Glass Fiber, Others. Carbon Fiber held the highest share in the global Composite Materials market and is projected to witness the same trend during the forecast period.

Manufacturing Process Analysis: Preview

Based on Manufacturing Process, the market is segmented into Layup Process, Filament Winding Process, Injection Molding Process, Pultrusion Process, Compression Molding Process, Resin Transfer Molding Process, Others. Layup Process accounted for the highest market share and is expected to grow at a significant CAGR from 2021 to 2028.

Analysis: Preview

Based on , the market is segmented into . dominates the global Composite Materials market and is expected to continue the same trend from 2021 to 2028. 

Geographically, the global Composite Materials market is segmented into North America, Latin America, Asia Pacific, Europe, and the Middle East & Africa. The report covers a thorough segmental analysis for each region comprising of market size and estimations for each segment by region for the years 2016–2028. In addition to that the report analyses Composite Materials market at country-level hence the regional study is further bifurcated into key country-level markets from each region. Asia Pacific is anticipated to dominate the global market during upcoming years. This is accredited to the presence of key market players combined with rising demand from the end-users.  Some of the prominent country-level markets are U.S., China, Germany, France, India, and Japan.   

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • France
  • Germany
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Rest of Latin America
• Middle East and Africa
  • GCC Countries
  • South Africa
  • Rest of MEA

Major players in the global Composite Materials market are Teijin Ltd., Toray Industries, Inc., Owens Corning, PPG Industries, Inc., Huntsman Corporation LLC, SGL Group, Hexcel Corporation, DuPont, Compagnie de Saint-Gobain S.A, Weyerhaeuser Company. The global Composite Materials market report covers an exhaustive analysis of all the key players in the industry. This includes a business overview, extensive portfolio, business strategies, news, financial performance, length of distribution network,  and geographical presence among others. In addition to that, the report also covers company market share along with in-depth strategic developments.   

• The global Composite Materials market was valued at USD 71.12 Billion in 2020
• The global Composite Materials Market is projected to reach USD 128.82 Billion by 2028
• Asia Pacific held the highest share of the Composite Materials market in 2020
• Some of the major companies operating in the Composite Materials market are Teijin Ltd., Toray Industries, Inc., Owens Corning, PPG Industries, Inc., Huntsman Corporation LLC, SGL Group, Hexcel Corporation, DuPont, Compagnie de Saint-Gobain S.A, Weyerhaeuser Company