Pune, India, 04 September 2017: WiseGuyReports announced addition of new report, titled “Composites Market (Product – Polymer Matrix Composite (Carbon Fiber Reinforced Plastic, Glass Fiber Reinforced Plastic, and Aramid Fiber Composites), Metal Matrix Composites, and Ceramic Matrix Composites; Technology – Pultrusion Process, Layup process, Filament Winding, Compression Molding, Injection Molding, Resin Transfer Molding, Automated Fiber Placement, and Automated Tape Laying; Application – Automotive & Transportation (Interior, Exterior, Power Train Components, Brake Pads, Chassis), Construction, Aerospace & Defense, Electrical & Electronics, Marine & Oil & Gas (Pipes and Top Side Application), Wind Energy, and Consumer Goods) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025”.
The demand for light demand for automotive and aircraft components and the increasing demand for wind power is expected to run the global composite market for the next few years. An increased need for lightweight and high-performance materials in automotive, aerospace and wind mill applications; Demand for carbon fiber is increasing.
This is due to the high ductile strength, hardness, and temperature tolerance and the special properties of carbon fiber such as low thermal expansion and weight. However, the expensive nature of carbon fiber is limited to its use in most applications. Currently, the cost of carbon fiber composites is four times the cost of steel. Therefore, reducing the cost of carbon fiber is likely to give attractive opportunities to joint producers.
According to research report, the global composites market is expected to reach US$101.88 bn by the end of 2025 with a CAGR of 8.9% between 2017 and 2025.
Composite is a component in which both elements are important properties. This is a continuous phase in the matrix and a disrupted phase reinforcement. This polymer is commercially available in various products like Matrix Composite, Metal Matrix Composite and Ceramic Matrix Composites.
This report provides a comprehensive view of composite markets based on applications. The main applications included in the report are automotive and transportation, construction, aerospace and protection, electricity and electronics, marine and oil and gas, wind power, and others (consumer goods, etc.). In terms of technology, markets have been divided into: pultrusion process, layout process, field warming, compression molding, injection molding, resin transfer molding and others. Depending on the type of product, market is divided into: Polymer matrix composite, metal matrix compositing and ceramic matrix composite.
On the basis of applications, technology, production types and countries, the eligibility of each segment has been examined by the charming device in the report. This study has included an analysis of the value chain, through which it is well understood by the key players in the supply chain (from raw materials producers to the end user). In addition, market analysts and market players are analyzed using Porter’s five bubble analysis.
North America dominated the global composite market and covered about 40% of volume in 2016. There is a possibility that 9 00% CAGR in Asia Pacific is likely to be witnessed and there is a possibility of a composite market attractive. This is due to the rapid development of technological advances and the optimization of composites in applications like automotive and wind turbine blades. Europe is a major manufacturer of premium cars, it’s a compelling market for composites. Due to the increasing use of the next generation aircraft, the aerospace segment in Europe is likely to offer 8.6 percent attractive opportunities for CAGR.
Major Key players in the composites market include Toray Industries, Owens Corning, Teijin Limited, Hexcel Corporation, TPI Composites, Inc, Faurecia, Performance Composites Inc., Enduro Composites, Inc., KINECO, APPLIED POLERAMIC INC., Hexagon Composites, Creative Composites Ltd., and HITCO Carbon Composites, Inc.
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