Composites Market Expected Value $90 Billion by 2020

Jul 07, 2015, 14:00 ET from MarketsandMarkets

DALLAS, July 7, 2015 /PRNewswire/ --

The report "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",.

Browse 74 Market Data Tables and 58 Figures spread through 159 Pages and in-depth TOC on "Composites Market".
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The market report defines and segments the composites market with an analysis and forecast of the volumes and values of types such as carbon composite, glass composite and aramid composite individually

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A composite is a material designed for enhanced performance in any number of unique applications through improvement in structural, functional or cosmetic properties. There are three types of composites including carbon composites, glass composites and aramid composite. More specifically carbon fiber and glass fiber composites are more used than aramid fiber. The materials like fiberglass and reinforced plastics are now in wide use for numerous applications, there has been continued demand for novel composites with desirable properties for many other applications. These composites are now days widely used in application markets such as automotive, aerospace & defense, electronics & semiconductor, wind, construction, pipe & tanks, marine and others. This report also identifies the driving and restraining factors for the polymer composites market with an analysis of trends, opportunities, burning issues, and winning imperatives. The market is segmented and volume & value are forecasted on the basis of major regions such as North America, Europe, Asia-Pacific, and Rest of the World (RoW). Further, the market is segmented and the values are forecasted on the basis of major applications of composites used in various industries such as automotive, aerospace & defense, electronics & semiconductor, wind, construction, pipe & tanks, marine and others.

Increase in demand from emerging regions 

Due to rapid industrialization and economic upturn in countries like China, India, Brazil and others the demand for composites is increasing. Population growth, new infrastructure projects, urbanization, increase in middle class population, and the green movement will drive composites growth to new horizons in these countries. The automotive industry which is the one of the major application of composites is growing at a significant rate in emerging nations due to rapid urbanization and improved living conditions is also expected to increase the demand of composites. Significant interest by automotive OEMs in composites like carbon composites applications and increasing demand of automotive are forcing the composite industry to a remarkable height. The growing wind and aerospace & defense in these regions are expected to further push the growth of composites market.

Increasing demand from automotive industry for light weight, stunning look, fuel economy 

Composites are continues to use in automotive primarily under the hood and in interiors. High-performance has used carbon fiber for many years, and now new high-speed manufacturing technology is allowing carbon composites to move into production vehicles. In order to make vehicles lighter, safer, cleaner and more cost effective, leading composites industries are responding to the needs and expectations of the vehicle original equipment manufacturers (OEMs), system suppliers and the consumers. Composite leaders helping automotive manufacturers to meet strict environmental standards like Corporate Average Fuel Economy (CAFE) in U.S., supporting responsible development and progress. Weight savings, fuel economy and other performance benefits will fuel the growth of composites consumption and significant interest in carbon fiber applications in automotive market also driving the market.

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