Global Composites Market 2020 (Includes Business Impact of COVID-19)

                                          
“Global Composites Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2027” is a recent report generated by Trusted Business Insights. The global composites market report has been segmented on the basis of product type, technology, application, and region.

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Global Composites Market: Overview

Composites which are in natural or synthetic form are also called as fiber-reinforced polymer (FRP) composites. These composites are obtained from a polymer matrix as these protects the fibers from any environmental and external damage which is strengthen with an engineered, man-made or natural fiber and then transfers the load between the fibers. Composite is a physical combination of two or more materials as to produce a combination of structural properties which is not present in any individual component.

Global Composites Market: Dynamics

Increasing demand for glass fiber composites in the automotive, construction & infrastructure applications, aerospace, and wind energy coupled with increasing usage of these composites in many applications such as electrical & electronics, aerospace, automotive, marine, and oil & gas are the major factors driving growth of the global composites market. In addition, increasing demand for glass fiber strengthen composite pipes in emerging economies and rising adoption of natural composites are other factors fueling growth of the target market. As these composites needs complex fabrication process and these process is labor intensive and complex which increases the cost is one of the major factor hampering growth of the target market.

Furthermore, increasing usage of composites in wind energy is one of the factor expected to drive the growth of the global composites market.

However, high initial costs of these composites is a factor expected to hamper growth of the global composites market. Nevertheless, availability of cheapest labor and low production costs in developing countries can create high revenue growth opportunities for players in the target market.

Global Composites Market: Segment Analysis

On the basis of product type, polymer matrix composites segment dominates the global market in terms of revenue and anticipated maintain its position in the near future.

On the basis of technology, Pultrusion process segment dominates the global market in terms of revenue and anticipated maintain its position in the near future.

On the basis of application, automotive and transportation segment dominates the global market in terms of revenue and anticipated maintain its position in the near future.

Global Composites Market: Regional Analysis

Currently, market in North America accounts for major share in terms of revenue and is expected to lucrative growth over the forecast period. Increasing usage of glass fiber composites in manufacturing of printed circuited boards (PCBs) especially in US is the factor expected to drive growth of the target market in the region. Asia Pacific market in anticipated to witness fastest growth in terms of revenue in the near future. As there is an increase in the use of composites in the aerospace, wind energy, and transportation applications coupled with rapid urbanization and growth in economy in countries is one of the factor fueling growth of the target market in Asia Pacific region. Europe also accounts major share in terms of revenue. Furthermore, market in Latin America anticipated to witness average growth over the forecast period, followed by Middle East and Africa in the global market.

Global Composites Market Segmentation:

Segmentation 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

 Segmentation by Technology:

Pultrusion Process
Layup Process
Filament Winding
Compression Molding
Injection Molding
Resin Transfer Molding
Others (include, Automated fiber placement, automated tape laying, etc.)

 Segmentation by Application:

Automotive & Transportation
Interior
Exterior
Power Train Components
Others (Chassis, brake pads, etc.)
Construction
Aerospace & Defense
Electrical & Electronics
Marine & Oil & Gas
Pipes
Others (include Top side applications, etc.)
Wind Energy
Others (include consumer goods, etc.)