Composite Materials Market: The top 10 high growth composite materials market is projected to reach USD 69.50 billion in 2015 to USD 105.26 billion by 2021, at a CAGR of 7.04% between 2016 and 2021.
According to the Global Wind Energy Council (GWEC), by 2035, the renewable energy sector is expected to generate more than 25% of the world’s electricity, and a quarter of this is expected to be derived from wind. With the increasing demand for wind energy, the demand for core materials is also rising for manufacturing of wind energy blades, as these materials are economical and have low-density and high performance.
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Some of the key players in the composites market include
- Owens Corning (U.S.),
- Strongwell Corporation (U.S.),
- Toray Industries Inc. (Japan),
- Teijin Limited (Japan),
- DAIB Group (Sweden), and Celanese Corporation (U.S.).
These players have adopted various organic and inorganic developmental strategies in the past five years to maintain their position in the top 10 high growth composite materials market.
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The major factor expected to boost the growth of the market is high demand for top 10 composite materials from the aerospace & defense, wind, and transportation applications. However, the high cost of manufacturing and raw materials and recyclability issue associated with composites may restrain the growth of the market.
“The aerospace & defense application led the top 10 high growth composite materials market”
The aerospace & defense application led the top 10 high growth composite materials market, by value. Composite aerospace structures are required 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 top 10 composite materials, due to the development of new aircraft, including Airbus A350 XWB and A320neo and Boeing 787 and 737 MAX.
“Asia-Pacific is projected to be the fastest-growing market for top 10 high growth composite materials.”
Asia-Pacific is projected to be the fastest-growing market for top 10 high growth composite materials in the next five years. The market in the region is expected to be driven by increasing consumption of top 10 composite materials in various applications, such as wind energy, construction, electrical & electronics, and transportation. China led the top 10 high growth composite materials market in Asia-Pacific. The wind energy industry in China witnessed the highest number of wind energy installations in 2015; it added 30.8 GW of new capacity. Wind energy being one of the major applications of composites, and is anticipated to drive the market in the country.
Browse complete report on “Top 10 High Growth Composite Material Market by Resin Type (Thermosetting Resin, Thermoplastic Resin), Fiber Type (Carbon, Glass, Aramid), Application (Aerospace & Defense, Wind Energy, Transportation, Sporting Goods), and Region - Global Forecasts to 2021" with 82 market data tables and 129 figures spread through 216 pages and in-depth table of content.
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This study has been validated through primaries conducted with various industry experts, globally. These primary sources have been divided into following three categories:
- By company type- Tier 1- 70%, Tier 2- 25%, and Tier 3-5%
- By designation- C Level- 31%, Director Level- 46%, and Others- 23%
- By region- North America- 65%, Europe- 24%, Asia-Pacific- 9%, and RoW- 2%
The report provides comprehensive analysis of company profiles listed below:
- Hexcel Corporation (U.S.)
- Hexion Inc. (U.S.)
- General Electric Company (U.S.)
- Rolls-Royce (U.K.)
- Renegade Materials Corporation (U.S.)
- Strong well Corporation (U.S.)
- Exel Composites (Finland)
- Toray Industries Inc. (Japan)
- Teijin Limited (Japan)
- DAIB Group (Sweden)
- Celanese Corporation (U.S.)
- PolyOne (U.S.)
- IDI Composites (U.S.)
- Solvay Group (Cytec Industries, Inc. (Belgium)
- UPM Bio composites (Finland)
- Weyerhaeuser Company (U.S.)
- Citadel Plastics Holdings Inc. (U.S.)
- Huntsman Corporation (U.S.)
This report covers the top 10 reports related to composites and forecasts the market size until 2021. The report includes the report wise market segmentation based on resin type, application, fiber type, process type,and region (North America, Europe, Asia-Pacific, Latin America and Middle East & Africa).Porter’s five forces analysis, along with drivers, restraints, challenges and opportunities, has been discussed in the report. The report also provides company profiles of major players and competitive strategies adopted by these market players in the top 10 high growth composite materials market.
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The report will help the market leaders/new entrants in this market in the following ways:
- This report segments the top 10 high growth composite materials market reports comprehensively and provides the closest approximations of the revenue numbers for the overall market and the sub segments across different verticals and regions.
- The report helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
- This report will help stakeholders to better understand the competitor and gain more insights to better their position in the business. The competitive landscape section includes competitor ecosystem, new product developments, partnerships, exhibitions, and mergers & acquisitions.
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