Composites Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)
Composites Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)
The global composites market is experiencing significant growth across various industries, presenting new opportunities for manufacturers. Ongoing research is exploring the potential of new composite materials, while existing applications continue to dominate. The use of composites in infrastructure, aerospace, and electric vehicles has unleashed the market's growth potential. Additionally, advancements in artificial intelligence (AI) are reinforcing composite materials, leading to improved manufacturing processes. Key players in the market are leveraging IT and technology to enhance manufacturing techniques. Toray Industries, Mitsubishi Chemical Holdings Corporation, Teijin Limited, Hexcel Corporation, and SGL Group are among the notable companies operating in the composites market.
Aerospace Industry Drives Composites Adoption:
Major aerospace companies such as Boeing and Airbus heavily utilize composites in their manufacturing operations. This plays a crucial role in predicting and evaluating the growth dynamics of the global composites market. Original equipment manufacturers (OEMs) are expected to be key consumers of composites. Collaborations between competitive composite manufacturers and NASA to develop space solutions further drive market growth.
Advancements in Electric Vehicle Technology Boost Composites Market:
Composites have become integral to the automotive industry, providing strength while ensuring lightweight and agile vehicles. In Europe, the electric vehicle sector benefits from composites, enabling the development of lightweight and high-power vehicles. As new players enter the electric vehicle market, the demand for composites is expected to increase significantly.
Artificial intelligence has made significant advancements across industries, including manufacturing. The Augsburg Production Network in Germany is collaborating with key entities to develop AI-based production processes for composites, strengthening their manufacturing capabilities. AI intervention in composite manufacturing offers better development opportunities for market vendors.
Market Maturity through IT and Technological Innovations:
Leading vendors in the composites market are leveraging the IT and technology space to explore new concepts in materials manufacturing. This contributes to the maturity of manufacturing techniques employed by local and global manufacturers.
Notable Market Players The global composites market is experiencing growth driven by expanding applications in aerospace, electric vehicles, and infrastructure. Advancements in AI-based manufacturing processes strengthen the development of composites. Notable players such as Toray Industries, Mitsubishi Chemical Holdings Corporation, Teijin Limited, Hexcel Corporation, and SGL Group are at the forefront of this market, utilizing IT and technology to enhance manufacturing techniques.
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1. Executive Summary
1.1. Global Composites Market Snapshot
1.2. Key Market Trends
1.3. Future Projections
1.4. Analyst Recommendations
2. Market Overview
2.1. Market Definitions and Segmentations
2.2. Market Dynamics
2.2.1. Drivers
2.2.1.1. Driver A
2.2.1.2. Driver B
2.2.1.3. Driver C
2.2.2. Restraints
2.2.2.1. Restraint 1
2.2.2.2. Restraint 2
2.2.3. Market Opportunities Matrix
2.3. Value Chain Analysis
2.4. Porter’s Five Forces Analysis
2.5. Covid-19 Impact Analysis
2.5.1. Pre-covid and Post-covid Scenario
2.5.2. Supply Impact
2.5.3. Demand Impact
2.6. Government Regulations
2.7. Technology Landscape
2.8. Economic Analysis
2.9. PESTLE
3. Production Output and Trade Statistics, 2019 - 2022
3.1. Regional Production Statistics
3.1.1. North America
3.1.2. Europe
3.1.3. Asia Pacific
3.1.4. Latin America
3.1.5. Middle East & Africa
3.2. Trade Statistics
4. Price Trends Analysis and Future Projects, 2019 - 2030
4.1. Key Highlights
4.2. Prominent Factors Affecting Prices
4.3. By Fiber Type
4.4. By End-user
4.5. By Region
5. Global Composites Market Outlook, 2019 - 2030
5.1. Global Composites Market Outlook, by Fiber Type, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
5.1.1. Key Highlights
5.1.1.1. Glass Fiber
5.1.1.2. Carbon Fiber
5.1.1.3. Ceramic Fiber
5.1.1.4. Aramid Fiber
5.1.1.5. Natural
5.1.1.6. Misc. (Metal, etc.)
5.2. Global Composites Market Outlook, by Resin Type, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
5.2.1. Key Highlights
5.2.1.1. Thermoset
5.2.1.2. Thermoplastic
5.3. Global Composites Market Outlook, by Manufacturing Process Type, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
5.3.1. Key Highlights
5.3.1.1. Manual Processes
5.3.1.1.1. Hand Lay-up
5.3.1.1.2. Spray-up
5.3.1.1.3. Prepeg Lay-up
5.3.1.2. Injection Processes
5.3.1.3. Compression Processes
5.3.1.4. Continuous Processes
5.3.1.5. Misc.
5.4. Global Composites Market Outlook, by Manufacturing End-user, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
5.4.1. Key Highlights
5.4.1.1. Automotive
5.4.1.2. Aerospace
5.4.1.3. Construction
5.4.1.4. Electrical & Electronics
5.4.1.5. Consumer Goods
5.4.1.6. Wind Energy
5.4.1.7. Marine
5.4.1.8. Pipe & Tank
5.4.1.9. Misc. (Sports Goods, etc.)
5.5. Global Composites Market Outlook, by Region, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030