Global Composites Market is expected to exhibit a strong 8.6% CAGR over the forecast period from 2019 to 2025, according to the latest research report from Market Research Future (MRFR). Global Composites Market was valued at USD 89.3 billion in 2018 and is expected to rise to a valuation of over USD 100 billion by 2025.
Composites are hybrid substances made from two or more substances. They are often lighter than either individual substance and present a higher mechanical strength. The high mechanical strength exhibited by composites, in addition to their light weight, has led to their widespread usage in various end use industries. The aerospace and defense sector has emerged as a major consumer of composites in recent years. The aerospace sector has been keen to come up with lightweight aircraft designs in order to make the aircraft more maneuverable and reduce the aircraft’s fuel consumption. Lighter aircraft are more maneuverable, making them more effective fighters. The environmental impact of aircraft has also come under the scanner in recent years. This has led to a growing demand for lighter aircraft, which consume less fuel and affect the environment less than heavier aircraft. Commercial aircraft makers have widely incorporated composites in their design to reduce the weight of aircraft. This is likely to remain a major driver for the global composites market over the forecast period.
Get Free Sample of “Composites Market” @ https://www.marketresearchfuture.com/sample_request/5399 (MRFR Provides FREE SAMPLE COPY of the Report, Gives a Brief Introduction to the Research Report, Industry Insight, TOC (197 pages with 272 data tables and 14 figures of the report), an Analysis to Leading Players of the Industry and comprising Key Regions, Drivers.)
The electrical and electronics sector is also a major consumer of the Global Composites Market. The increasing use of silicone-based composites in printed circuit boards is a major driver for the Global Composites Market. Silicone-based composites are highly resistant to heat and electricity, making them highly useful in electrical and electronic components. This is likely to remain a major driver for the Global Composites Market over the forecast period due to the growing production of electrical and electronic components. The automotive industry has also been a major consumer of composites in recent years. Automotive design makers have incorporated increasing amounts of composites in automotive design in recent years in order to reduce the weight of automobiles and make the automobiles stronger. The environmental impact of automobiles has become a major topic in recent years, leading to the adoption of several emission-reducing measures in the automotive industry. The adoption of composites has been a major part of this movement, leading to steady growth of the composites market.
Leading Players in the Global Composites Market include Huntsman International LLC, Chongqing Polycomp, DowAksa, Nippon Electric Glass Co. Ltd., Honeywell International Inc., DuPont, Hexcel Corporation, Koninklijke Ten Cate BV, Mitsubishi Chemical Holding, Solvay SA, SGL Carbon Company, Teijin Ltd., Toray Industries Inc., Owens Corning, and BASF SE.
North America dominates the Global Composites Market and is likely to retain the dominant position in the Global Composites Market over the forecast period. The growing aerospace industry in North America is the major driver for the Global Composites Market. Asia Pacific is the fastest growing regional market for Composites and is expected to exhibit a robust 10.3% CAGR over the forecast period.
Browse Complete Report @ https://www.marketresearchfuture.com/reports/composites-market-5399
Global Composites Market is segmented on the basis of Type, Resin Type, Technology, End Use Industry, and Region.
By Type, Global Composites Market is segmented into polymer matrix composites, ceramic matrix composites, metal matrix composites, and others.
By Resin Type, Global Composites Market is segmented into thermoplastic composites and thermoset composites.
By Technology, Global Composites Market is segmented into layup process, pultrusion process, filament winding, injection molding, automated fiber replacement, compression molding, automated tape lying, resin transfer molding, and others.
By End Use, Global Composites Market is segmented into aerospace and defense, automotive and transportation, electronics and electrical, construction and infrastructure, wind energy, marine and oil and gas, and others. The aerospace and defense segment is the leading consumer of composites, due to the growing volume of aircraft production in recent years. The growing demand for military aircraft is likely to remain a major driver for the Global Composites Market over the forecast period.
COVID-19 Study in Detail:
COVID-19 Impact Analysis on Polyvinyl Chloride (PVC) Market @ https://www.marketresearchfuture.com/report/covid-19-impact-pvc-market
COVID-19 Impact on 3D Printing Materials Market @ https://www.marketresearchfuture.com/report/covid-19-impact-3d-printing-materials-market
NOTE: Our team of researchers is studying COVID-19 and its impact on various industry verticals and wherever required we will be considering COVID-19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Company Name: Market Research Future
Contact Person: Abhishek Sawant
Email: Send Email
Phone: +1 646 845 9312
Address:Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar