Global Composite Materials Market 2023-2027

Global Composite Materials Market 2023-2027

Technavio has been monitoring the composite materials market and is forecast to grow by $17158.66 mn during 2022-2027, accelerating at a CAGR of 6.45% during the forecast period. Our report on the composite materials market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by rising demand for composite materials in the transportation industry, the increasing number of opportunities for textile glass fibers and glass fibers in electronics sector, and the increasing demand for composite fibers in construction.

Technavio's composite materials market is segmented as below:

By Type

• Glass fiber
• Carbon fiber
• Aramid Fiber
• Others

By End-user

• Electricals and electronics
• Contruction
• Aerospace and defense
• Others

By Geographical Landscape

• North America
• Europe
• APAC
• South America
• Middle East and Africa

This study identifies strategic collaboration, partnerships, and mergers and acquisitions as one of the prime reasons driving the composite materials market growth during the next few years. Also, the increasing use of boron for producing glass fibers and increasing demand for 3D-carbon fibers from the aerospace and defense industry will lead to sizable demand in the market.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on the composite materials market covers the following areas:

• Composite materials market sizing
• Composite materials market forecast
• Composite materials market industry analysis

Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading composite materials market vendors that include 3M Co., Cabot Corp., China Jushi Co. Ltd., Compagnie de Saint Gobain SA, COMPOSITES UNIVERSAL GROUP, DuPont de Nemours Inc., Gurit Holding AG, Hexcel Corp., Huntsman Corp., Kineco Ltd., Mitsubishi Chemical Corp., Momentive Performance Materials Inc., Nippon Electric Glass Co. Ltd., Owens Corning, Scott Bader Co. Ltd., SGL Carbon SE, Solvay SA, Teijin Ltd., Veplas dd, and Toray Industries Inc. Also, the composite materials market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.