Composites Market deals with composite materials which are a combination of two or more materials and are superior to its components. Mostly used in automotive and aviation sectors, they have a significant role to play in future technology owing to their extraordinary cutting edge properties.
Composite manufacturing is on the rise with the engineering of new composite materials with features such as high impact strength, corrosion resistance, high electric strength, and which are non-magnetic, lightweight, durable, low maintenance and radar transparent, thus making them ideal for aerospace composites and automotive composites markets, both of which are expanding vigorously in developing countries such as China and India.
Advanced composites materials are also utilized widely in composites materials products such as melamine, bakelite, vulcanized rubber, epoxy resins, polyurethanes, polyester resins, silicone resins and others for regular usage end-user and industry purposes thus grabbing a constant share of the composites market.
Scope & Regional Forecast of the Composites Market
Owing to the great demand and developments in the automobile and aircraft industries, the automotive composites as well as the aerospace sector are expected to boost the growth of composites manufacturing industries around the globe.
Major factors for the growth of the composites market are going to be the rise in automotive production and high demand for lightweight composites materials fueled by strict government regulations to reduce pollution generated from vehicles. In the aviation sector, commercial aircraft manufacturing industries require large supply from advanced composites manufacturing industries. This sector is expected to show the largest growth due to dedicated efforts in recent times, and in the future towards space and military applications.
North America, followed by Europe, remains the region showing constant surge in the global Composites Market. However, exceptionally high rate of advancement in the market share is estimated to be seen in the APAC region as the burgeoning population and changing lifestyle is rapidly boosting the need for automotive and aviation sector and end-user products.
Segmentations & Key Players Involved in the Composites Market
According to IndustryARC findings, the Composites Market can be broken down into various segmentations on the basis of –
- Materials: Polymers, Metals, Ceramics, Carbon, Glass, Natural and Others.
- End-Product Type: Fiber-Reinforced Composites, Structural Composites and Others.
- Resin Type: Thermosetting, Thermoplastic
- Application: Electronics & Semiconductors, Aerospace & Defense, Consumer Goods, Construction & Infrastructure, Marine and Others.
- Technology: Injection Molding, Compression Molding, Pultrusion, Filament Winding, Layup.
- Geography: Americas, Europe, APAC, Rest of the World (RoW).
Some of the key players involved in the Composites Market according to IndustryARC are as follows:
- Mitsubishi Rayon Co.Ltd
- Gurit Holding AG
- JPS Composite Materials Corporation
- A.Schulman Inc
- Ashland Inc.
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