NEW YORK, Nov. 3, 2021 /PRNewswire/ -- The composite materials market is expected to grow by USD 29.24 billion from 2020 to 2025, progressing at a CAGR of 5.68% according to the latest report by Technavio.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Gurit Holding AG, Hexcel Corp., Huntsman Corp., Mitsubishi Chemical Corp., Nippon Electric Glass Co. Ltd., Owens Corning, SGL Carbon SE, Solvay SA, Teijin Aramid BV, and Toray Industries Inc. are some of the major market participants.
The rising demand for composite material in the transportation industry, increasing number of opportunities for textile glass fibers and glass fibers in electronics sector, and the high flame retardant materials demand in the electrical and electronics industry will offer immense growth opportunities. However, the high cost of composites will challenge the growth of the market participants.
Composite Materials Market 2021-2025: Scope
Our composite materials market report covers the following areas:
Composite Materials Market 2021-2025: Key Regions 34% of the market's growth will originate from APAC during the forecast period. China and India are the key markets for composite materials in APAC. The increasing number of opportunities for textile glass fibers and glass fibers in the electronics sector will facilitate the composite materials market growth in APAC over the forecast period.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
We provide a detailed analysis of around 25 vendors operating in the Composite Materials Market. Backed with competitive intelligence and benchmarking, our research reports on the composite Materials Market are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.
CAGR of the market during the forecast period 2021-2025
Detailed information on factors that will assist composite materials market growth during the next five years
Estimation of the composite materials market size and its contribution to the parent market
Predictions on upcoming trends and changes in consumer behavior
The growth of the composite materials market
Analysis of the market's competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of composite materials market vendors
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Composite Materials Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 5.68%
Market growth 2021-2025
USD 29.24 billion
YoY growth (%)
North America, Europe, APAC, South America, and MEA
Performing market contribution
APAC at 34%
Key consumer countries
US, China, Germany, UK, and India
Leading companies, competitive strategies, consumer engagement scope
Gurit Holding AG, Hexcel Corp., Huntsman Corp., Mitsubishi Chemical Corp., Nippon Electric Glass Co. Ltd., Owens Corning, SGL Carbon SE, Solvay SA, Teijin Aramid BV, and Toray Industries Inc.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.