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Composites are made up of two or more materials at microscopic level having chemically distinct phase. Based on the matrix, composites are classified into polymer, metal, ceramic, carbon, and graphite. Its enhanced desired properties make it applicable to be used in several industries such as aerospace & defense and construction.
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Rise in demand from the end user industries drives the composites market. Improved properties such as high fatigue life, high strength and modulus, reduced weight, acoustic insulation, and corrosion resistance has led to an increase in the demand. Volatility in the raw material prices, and non-recyclable nature of composites pose a great threat in the growth of the market.
The report segments the composites market on the basis of fiber type, resin type, manufacturing process, and application. On the basis of fiber, the market is divided into carbon fiber composites, glass fiber composites, and others. Based on the resin type, market is classified into thermosetting composites and thermoplastic composites. On the basis of type of manufacturing process, the market is categorized into layup, filament, injection molding, pultrusion, compression molding, RTM, and others. On the basis of application, the market is divided into transportation, aerospace & defense, electrical & electronics, construction, wind energy, pipes and tanks, marines, and others. Geographic breakdown and deep analysis of each of the aforesaid segments is included for North America, Europe, Asia-Pacific, and LAMEA. Growth of the electricals & electronics, construction & infrastructure, and improved transportation facilities has led Asia-Pacific to be the largest market of composites.
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Comprehensive competitive analysis and profiles of major market players such as Hexcel Corporation, Huntsman Corporation, Toray Industries, Teijin Limited, and Owens Corning are also provided in this report. The target end users for these companies can be categorized as automotive, aerospace, construction, and wind energy related companies such as BMW, Ford, Bell Helicopter, Boeing, Mercedes-Benz, and Vestas.
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