Global Composites Market is Expected to Reach US$ 101.88 Bn in 2025: Transparency Market Research

ALBANY, New York, June 8, 2017 /PRNewswire/ --

Transparency Market Research has published a new report titled "Composites (Polymer Matrix Composite (Carbon Fiber Reinforced Plastic, Glass Fiber Reinforced Plastic, and Others) Metal Matrix Composite, and Ceramic Matrix Composite), by Technology (Pultrusion Process, Layup process, Filament Winding, Compression Molding, Injection Molding, Resin Transfer Molding, and Others) Market for Automotive & Transportation (Interior, Exterior, Power Train Components, and Others), Construction, Aerospace & Defense, Electrical & Electronics, Marine & Oil & Gas (Pipes and Others), Wind Energy, and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2017 - 2025." According to the report, the global composites market was valued at US$ 47.32 Bn in 2016 and is anticipated to reach US$ 101.88 Bn by 2025, expanding at a CAGR of 8.9% from 2017 to 2025.

A composite is defined as a multiphase material that exhibits a significant proportion of properties of both constituent phases. It usually consists of a continuous phase called the matrix and a dispersed phase called the reinforcement. GFRP and CFRP, two major types of polymer matrix composites are used in manufacturing of various parts of an aircraft. The segment held a key share in the composites market in 2016 and is likely to maintain this position in the next decade, driven by the growing need for high strength and lightweight material such as CFRP. Increasing demand for lightweight vehicles and escalating demand for wind energy are anticipated to drive the composites market for the next few years. It is majorly used in the manufacturing of automotive and aircraft components.

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Polymer matrix composite held more than 95% volume share in the global composites market in 2016. It is projected to grow at a relatively faster rate during the forecast period. The carbon fiber reinforcement possesses diverse mechanical and physical characteristics such as a high strength to weight ratio and corrosion resistance. These properties allow it to be used to m Glass reinforcement is majorly produced due to its relatively low cost and competitive physical and mechanical characteristics. It is used in automotive and marine bodies, storage containers, and industrial floorings. In terms of revenue, metal matrix composites are likely to grow at a CAGR of more than 7.0% between 2017 and 2025.

Automotive & transportation application dominated the global composites market and accounted for more than 25% volume share in 2016. Composites offer many structural and weight advantages over traditional steel and injection molded automotive parts such as cost & weight reduction and recyclability. This application is projected to grow at a CAGR above 8.5% from 2017 to 2025. In terms of value, aerospace & defense application held more than 20% share in the global composites market in 2016.

In terms of value, North America held major share in the global composites market followed by Asia Pacific in 2016. China is the major consumer of composites in Asia Pacific market in terms of volume and revenue in 2016. Expansion of the composites market in the Asia Pacific is primarily driven by the expansion of end-user industries in the region. The composites market in Europe is likely to grow at a moderate pace during the forecast period. The U.S. and China are the key consumers of composites in the global composites market.

Browse Research Press Release: http://www.transparencymarketresearch.com/pressrelease/composites-market.htm

Some of the key players in the composites market include Hexcel Corporation, TPI Composites, Inc, Owens Corning, Teijin Limited, Faurecia, Performance Composites Inc., Enduro Composites, Inc., Toray Industries, APPLIED POLERAMIC INC., Hexagon Composites, KINECO, Creative Composites Ltd., HITCO Carbon Composites, Inc., The Quadrant Group of Companies, Kangde Xin Composite Material Group Co., Ltd., BGF Industries, Inc., FACC AG, Premium Aerotec, Fokker Aerostructures, COTESA GmbH, PLASAN CARBON COMPOSITES, Wethje Carbon Composites, VELLO NORDIC AS, Fiberdur GmbH & Co. KG, Akiet B.V., and FILL GESELLSCHAFT M.B.H.

The report segments the global composites market into:

• Composites Market - By Product Type 
  • Polymer Matrix Composites
    • Carbon Fiber Reinforced Plastic
    • Glass Fiber Reinforced Plastic
    • Others (Aramid fiber composites, etc.)
  • Metal Matrix Composites
  • Ceramic Matrix Composites
• Composites Market - By Technology 
  • Pultrusion Process
  • Layup Process
  • Filament Winding
  • Compression Molding
  • Injection Molding
  • Resin Transfer Molding
  • Others (Automated fiber placement, automated tape laying, etc.)
• Composites Market - By Application 
  • Automotive & Transportation
    • Interior
    • Exterior
    • Power Train Components
    • Others (Chassis, brake pads, etc.)
  • Construction
  • Aerospace & Defense
  • Electrical & Electronics
  • Marine & Oil & Gas
    • Pipes
    • Others (Top side applications, etc.)
  • Wind Energy
  • Others (consumer goods, etc.)
• Composites Market - Regional Analysis 
  • North America
    • U.S.
    • Canada
  • Europe
    • France
    • U.K.
    • Germany
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • ASEAN
    • India
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East and Africa
    • GCC
    • South Africa

Rest of Middle East and Africa

Browse Other Market Research Report:  

• Nanocomposites Market: http://www.transparencymarketresearch.com/nanocomposites-market.html

About TMR 

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR's data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

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