Composites Market Growing at 6.4% CAGR to 2020

Aug 25, 2015, 12:45 ET from ReportsnReports

PUNE, India, August 25, 2015 /PRNewswire/ --

The global composites market growth is being pushed by rising automotive, wind and aerospace and defense sectors of Asia-Pacific, North America and Europe, which are the majorly active regions for composites market.

Complete report on composites market spread across 159 pages, profiling 14 companies and supported with 74 tables and 58 figures is now available at http://www.reportsnreports.com/reports/344642-composites-market-by-type-carbon-composites-glass-composites-and-aramid-composites-by-manufacturing-technology-layup-filament-winding-injection-molding-pultrusion-compression-molding-etc.html .

Asia-Pacific held the largest share by volume in composites market in 2014. Major growth in the Asia-Pacific region is expected from the growing construction, aerospace and electronics & semiconductor application. The composites market in Asia-Pacific region is growing fast as the application industries such as automotive, construction, aerospace and electronics & semiconductor application are expected to register a significant growth rate in next five years. Presence of emerging economies such as India and China are helping the composites market to grow in the region. The freeing up and privatization of the industry, and massive foreign investment combined with low costs are factors in this growth.

There are many drivers which are forcing the composites market to grow at a decent pace including increase in demand of lightweight materials in transportation industry to increase the fuel efficiency, growing demand of wind energy and increasing use of composites by Boeing and Airbus in aerospace industry. In 2014 the global wind energy market increased by around 45% due to the adoption of green energy in all over the world. China added 23,350 MW of wind power capacity in 2014 which contributes almost 90% of addition took place in Asia-Pacific region which helped to drive the composites market in Asia-Pacific region. The growing use of composites in transportation industry including rail, high end cars, medium and heavy duty vehicles etc. also helped to grow the market at good pace. Both Boeing and Airbus are projecting multibillion dollar markets for new airplanes where use of composites is increased over the next 20 years. Traditionally used composites such as glass composites and carbon fiber composites are widely used in aerospace & defense, wind and automotive industry and now increasing their area of commercial applications in sporting goods, marine, construction, healthcare and oil & gas applications.

Agreements & partnerships and expansion of production capacity were the key strategies adopted by industry players in order to maintain growth in the composites market. The composites has wide industrial applications and new collaborations and agreements are paving the way for fulfilling the ever changing demand for new applications with better physical and mechanical properties. As a result of this, a diverse application base is developing for composites. Market players are focusing on signing new agreements with end-user companies especially in automotive industry that can meet the growing demand from application industries.

Companies profiled in this composites market research to 2020 include Chongqing Polycomp International Corp, Cytec Industries, Gurit Holding AG, Hexcel Corporation, Jushi Group Co. Ltd., Mitsubishi Rayon Co. Ltd, Owens Corning, DuPont, PPG Industries Inc., Saertex Group, Saint-Gobain, SGL-Group, Huntsman and Momentive. Order a copy of the research report titled Composites Market by Type (Carbon Composites, Glass Composites and Aramid Composites), by Manufacturing technology (Layup, Filament winding, Injection molding, Pultrusion, Compression Molding etc.) , by Resin Type (Thermoplastics Composites and Thermosets Composites), by Application (Automotive, Aerospace & Defense, Electronics & Semiconductor, Wind, Construction, Pipe & Tanks, Marine and others), and by Region - Global Trends and Forecasts to 2020 at http://www.reportsnreports.com/Purchase.aspx?name=344642 .

For the other and related segments of advanced materials market, ReportsnReports.com offers multiple newly published and relevant research titles that might of interest to business decision makers and stakeholders:

Advanced Composites Market by Type (Carbon, S-Glass, Aramid), by Manufacturing Process, by Resin Type (Thermoplastics and Thermosetting), by Application (Aerospace & Defense, Automotive, Wind, Sporting Goods, Pipe & Tanks, Construction, Marine), and by Region Global Forecast to 2020: The advanced composites market size of end products in terms of value was $16.3 billion in 2014 and expected to grow at a CAGR of 7.2% between 2015 and 2020.North America held the largest share by volume in advanced composites market in 2014. Major growth in the North America region is expected from the growing aerospace & defense application industry. The leading carbon fiber composite manufacturers increased their capacity in North America and Europe in order to meet the growing demand from the aerospace & defense, automotive, pipe & tanks, wind, marine, and construction industries. Many leading companies recently increased their carbon fiber composite and S-glass composite production capacities in these regions. In North America and Europe, aerospace & defense, wind, and automotive are the major application industries of advanced composites. The use of S-glass composites, carbon fiber composites, and aramid fiber composites in composite ballistic armor applications has increased due to properties that include maximum energy absorption, fire resistance and light weight. In countries such as the U.S., Germany, Russia, and France, the growth of the aerospace industry is projected to increase in the next few years. The demand from the automobile industry for advanced composites is increasing and hence driving the market. The growing automotive, wind, and aerospace & defense sectors in North America and Europe regions are projected to further fuel the growth. Companies like Tencate, Owens Corning, E. I. Dupont De Nemours and Company, Toray Industries, Plasan Carbon Composites, AGY Holdings Corp., SGL-Group, Huntsman Corporation, Momentive Performance Materials Inc, Formosa Plastics Corporation and Teijin Limited are profiled in this advanced composites market research to 2020 available at http://www.reportsnreports.com/reports/409772-advanced-composites-market-by-type-carbon-s-glass-aramid-by-manufacturing-process-by-resin-type-thermoplastics-and-thermosetting-by-application-aerospace-defense-automotive-wind-sporting-goods-pipe-tanks.html .

Explore reports related to other materials and chemicals market at http://www.reportsnreports.com/market-research/chemicals/ .

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