DALLAS, April 19, 2019 /PRNewswire/ -- According to a new market report published by Lucintel, the future of the global composites distributor market looks promising with opportunities in transportation, marine, wind energy, aerospace & defense, pipe & tank, automotive, marine, construction, electrical/electronics, and consumer goods. The global composites distributor market is expected to reach $4.8 billion by 2023 with a CAGR of 4.7% from 2018 to 2023. The major drivers in this market are increasing demand for composites in North America and Asia Pacific region and presence of large number of medium and small composite part manufacturers.
Browse 89 market data tables and 112 figures spread through 170 pages and in-depth TOC on "Global Composites Distributor Market" at https://www.lucintel.com/composites-distributor-market.aspx
Lucintel forecasts that polyester resin is expected to remain the largest material by value and volume and it is also expected to witness the highest growth during the forecast period due to increasing demand in construction and pipe & tank industry.
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Asia Pacific is expected to remain the largest region by value and volume and is also expected to experience the highest growth over the forecast period because of growing composites market and presence of a large number of small part fabricators especially for pipe & tank, construction, and consumer goods end use industries.
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Emerging trends, which have a direct impact on the dynamics of the composites distributor industry, include growing of new distributors in emerging countries and increase in product portfolio. Composites One, North American Composites, Gazechim, Euroresins, Lintech International, FRP Services, IMCD Group B.V., Microtex Composites SRL, Sino Composites, Sumitomo Shoji Chemicals, Sojitz Corporation, and Soon Yang Chemicals are among the major composites distributor manufacturers.
Lucintel, a leading global strategic consulting and market research firm, has analyzed and forecasted for the global composites distributor market by end use industry, raw material, intermediate, and region and has come up with a comprehensive research report entitled "Growth Opportunities in the Global Composites Distributor Market 2018-2023: Trends, Forecast, and Opportunity Analysis." The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions.