Composites Market: 2024 Global Future Scope, Ageing Population, Application, Industry Growth, Demand, Region, Competitive Analysis and Forecast 2031 | Owens Corning, Toray Industries Inc., Solvay SA.

The Global Composites Market size was worth US$ 108.64 billion in 2023 and is estimated to reach US$ 204.50 million by 2031, growing at a CAGR of 8.23% during the forecast period (2024-2031).

DataM Intelligence has published a new research report on "Composites Market Size 2024". The report explores comprehensive and insightful Information about various key factors like Segmentation, CAGR, business revenue competitive positioning of key companies, investigating elements such as product offerings, pricing strategies, financial performance, product portfolios, growth initiatives, and geographical reach. . The purpose of this report is to provide a telescopic view of the current market size by value and volume, opportunities, and development status.

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The Composites market report majorly focuses on market trends, historical growth rates, technologies, and the changing investment structure. Additionally, the report shows the latest market insights, increasing growth opportunities, business strategies, and growth plans adopted by major players. Moreover, it contains an analysis of current market dynamics, future developments, and Porter's Five Forces Analysis.

The Composites Market encompasses a wide range of materials made from two or more constituent materials that have significantly different physical or chemical properties. When combined, these materials produce a composite that possesses superior characteristics compared to the individual components. Composites are widely used across various industries, including aerospace, automotive, construction, marine, and consumer goods, due to their lightweight, high strength, durability, and corrosion resistance.

Market Dynamics:

Rising Demand for Composites in Emerging Economies
Traditionally, the composites industry has been concentrated in regions like Japan, North America, and Europe. However, there is a noticeable shift towards emerging economies in Asia-Pacific and beyond. Countries such as India, Brazil, and China are witnessing significant growth in the demand for glass fiber and carbon fiber composites, driven by a rising need for low-cost carriers in the aerospace sector, as well as increased applications in wind energy and transportation.

In China, for instance, numerous research initiatives are underway focused on the development and application of glass fiber and carbon fiber composites. This investment in research not only enhances the material's functionality but also positions these countries as key players in the composites market.

Moreover, cyclic sectors such as automotive, piping and tanks, and building and infrastructure are expected to experience rapid growth due to the swift economic development and industrialization occurring in these emerging nations. The demand for Glass Fiber Reinforced Polymer (GFRP) and Carbon Fiber Reinforced Polymer (CFRP) is projected to rise significantly.

Additionally, the construction and infrastructure sectors are anticipated to see a surge in composite usage, particularly in the context of upgrading existing facilities, maintaining infrastructure, and developing new urban areas equipped with water treatment systems. This trend underscores the growing recognition of composites as essential materials in modern construction, further fueling market demand in emerging economies.

Forecast Growth Projected:

The Global Composites Market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

List of the Key Players in the Composites Market:

Owens Corning, Toray Industries Inc., Solvay SA, Teijin Limited, SGL Carbon SE, Hexcel Corporation, Nippon Electric Glass Co. Ltd., Huntsman International LLC, Hexion and Gurit Holding AG.

Segment Covered in the Composites Market:

By Fiber: Glass Fiber, Carbon Fiber, Natural Fiber, Others.

By Resin: Thermoset, Thermoplastic.

By End-User: Aerospace & Defense, Automotive & Transportation, Construction & Infrastructure, Pipes & Tanks, Electrical & Electronics, Others.

Regional Analysis:

The global Composites Market report focuses on six major regions: North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa.

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Regional Analysis:

The global Composites Market report focuses on six major regions: North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa. The report offers detailed insight into new product launches, new technology evolutions, innovative services, and ongoing R&D. The report discusses a qualitative and quantitative market analysis, including PEST analysis, SWOT analysis, and Porter's five force analysis. The Composites Market report also provides fundamental details such as raw material sources, distribution networks, methodologies, production capacities, industry supply chain, and product specifications.

**The full version of the report includes an in-depth analysis of emerging players and startups, which will provide valuable insights into the evolving market landscape and key strategies being adopted**

Chapter Outline:

Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by region, product type, application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.

Chapter 2: key insights, key emerging trends, etc.

Chapter 3: Manufacturers competitive analysis, detailed analysis of Composites manufacturers competitive landscape, revenue market share, latest development plan, merger, and acquisition information, etc.

Chapter 4: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product revenue, gross margin, product introduction, recent development, etc.

Chapter 5 & 6: Revenue of Composites in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and market size of each country in the world.

Chapter 7: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.

Chapter 8: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.

Chapter 9: Analysis of industrial chain, including the upstream and downstream of the industry.

Chapter 10: The main points and conclusions of the report.

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The research study aims to address the following key questions:

➡What is the expected growth rate of the Composites Market during the forecast period of 2031?

➡What key factors are driving the Composites Market across various regions?

➡Who are the leading vendors in the Composites industry, and what strategies contribute to their success?

➡What is the anticipated market scope for the projected period?

➡What major trends are influencing the industry's growth in the coming years?

➡What challenges does the Composites Market face?

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