May 13, 2016, 09:30 ET
PUNE, India, May 13, 2016 /PRNewswire/ --
The report "Composites Market by Type (Carbon Fiber Composites, Glass Fiber Composites and Others), by Resin Type (Thermoplastic Composites and Thermosetting Composites), by Manufacturing Process, by Application and by Region - Global Trends and Forecasts to 2021", published by MarketsandMarkets, The global market size is projected to grow from USD 69.50 Billion in 2015 to USD 105.26 Billion by 2021 at a CAGR of 7.04% between 2016 and 2021.
(Logo: http://photos.prnewswire.com/prnh/20160303/792302 )
Browse 86 market data Tables and 68 Figures spread through 202 Pages and in-depth TOC on "Composites Market"
Early buyers will receive 10% customization on this report.
The composites market is mainly dominated by the aerospace & defense, wind energy, and transportation applications due to their excellent properties such as stiffness, strength, tenacity, density, thermal & electrical conductivity, fatigue, and corrosion resistance. Also, because of their low weight, composites have witnessed an enormous demand, especially from aerospace and transportation applications.
Rising use of composites in aerospace & defense industry to drive the composites market
The use of composite materials and related core materials in the aerospace & defense industry has gained momentum in the past few decades. The latest Airbus now boasts a 53% usage of composite materials among its long list of new features. This shows the increase in the use of composites, which was hardly 2%-5% in the past few years. One of the main reasons for the rising use of composites in aircraft is the advantages offered by them such as reduction in weight and corrosion resistance. These properties of composites result in low emissions and maintenance costs in comparison to the traditional materials used for manufacturing aircrafts.
Glass fiber composites market, in terms of value, dominates the global composites market
Glass fiber accounts for over 90% of the reinforcements used in composite consumption, globally. Due to their light weight, inherent strength, weather-resistant finish, and variety of surface textures, the glass fiber composites have a huge demand from the aerospace, automotive, wind energy, construction, and other applications. To meet this huge demand, many companies have invested in manufacturing glass fiber composites, especially in China and other emerging countries such as India and Brazil. A major composites manufacturing company, Owens Corning (U.S.), has signed a strategic alliance with two Chinese fiberglass manufacturing companies (Xingtai Jinniu and Taishan Fiberglass) to enhance the supply of customized glass fiber reinforcements in this region. Thus, the growth of fiber glass composites in China is the major driver of glass fiber composites in the global composites market.
For More Info Make Inquiry @ http://www.marketsandmarkets.com/Enquiry_Before_Buying.asp?id=200051282
Asia-Pacific is the largest market for composites
Asia-Pacific is the biggest and the fastest-growing Composites Market. The growing aerospace industry, wind energy development, and transportation industry in the region are the major factors driving the composites market in Asia-Pacific. Besides this, the presence of major carbon fiber manufacturers, growing economy, and rapid urbanization in Asia-Pacific are driving the use of composites in construction and pipe & tank industries. Also, the market for PCB (printed circuited board), one of the key users of glass composites, is growing at a good pace in the region.
The major players in the composites market include:
- Hexcel Corporation (U.S.)
- Huntsman Corporation (U.S.)
- Owens Corning (U.S.)
- Toray Industries (Japan)
- Teijin Limited (Japan)
MarketsandMarkets broadly segments the composites market on the basis of fiber type, resin type, manufacturing process, application, and region. The study covers more than 25 countries of the five main regions, namely, North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Browse Related Reports:
Carbon Fiber (CF) and Carbon Fiber Reinforced Plastic (CFRP) Market by Raw Material & Tow Size, CFRP Market by Resin Type, by Manufacturing Process, by Application, and by Region - Trends and Forecasts to 2020
Composite Resin Market by Resin Type (Thermoset and Thermoplastic), by Manufacturing Process (Layup, Injection Molding, Filament Winding, Pultrusion, Compression Molding, RTM, and Others), by Application & by Region - Global Forecasts to 2020
MarketsandMarkets is the world's No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
Visit MarketsandMarkets Blog @ http://www.marketsandmarketsblog.com/market-reports/chemical
Connect with us on LinkedIn @ http://www.linkedin.com/company/marketsandmarkets
Visit MarketsandMarkets Website: http://www.marketsandmarkets.com
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India
Email: [email protected]
Share this article