The market for top 10 high growth composite materials is estimated to grow from USD 69.50 Billion in 2015 to USD 105.26 Billion by 2021, at a CAGR of 7.04% between 2016 and 2021.

Browse 80 market data tables and 129 figures spread through 213 pages and in-depth TOC on “Top 10 High Growth Composite Material Market by Resin Type (Thermosetting Resin, Thermoplastic Resin), Fiber Type (Carbon, Glass, Aramid), Application (Aerospace & Defense, Wind Energy, Transportation, Sporting Goods), and Region - Global Forecasts to 2021".

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The key players in the top 10 high growth composite materials market are Hexcel Corporation (U.S.), Hexion Inc. (U.S.), Strongwell Corporation (U.S.), Toray Industries Inc. (Japan), Teijin Limited (Japan), DAIB Group (Sweden), Celanese Corporation (U.S.), and IDI Composites (U.S.).

These players have adopted various strategies to expand their global presence and increase their market shares. Capacity expansions, product launches, and agreements, joint ventures & partnerships are the major strategies adopted by the market players to achieve growth in the market.

The key companies offering composites are involved in investment & expansions to strengthen their position in the top 10 high growth composite materials market. Companies such as Huntsman Corporation (U.S.), Hexion Inc. (U.S.), Toray Industries (Japan) adopted this strategy. Companies also adopted the strategy of partnership, joint venture & agreements, in order to expand their composite product reach globally and take advantage of each-others competencies to compete in the market.

Toray Industries Inc. focuses mainly on acquisitions, agreements, expansions, and new product developments to tap the growing demand and expand its market globally. In September 2015, the company acquired 55% of Delta Tech S.p.A. (Italy) which produces and supplies high-quality prepreg and carbon fiber for automobile applications. This acquisition helped the company to increase the sale of carbon fibers for luxury cars.

Hexcel Corporation (U.S.) is a global manufacturer of composites, core materials, and prepregs. The company recently launched new composite material at JEC world 2016. The company showcased nacelle inner fixed structure (IFS) for Airbus A320neo. This material is manufactured by Aircelle using Hexcel’s HexPly 8552 slit tape prepreg, reinforced with HexTow AS4 carbon fiber. The company manufacturers products to be specifically used for components in commercial and military aircraft, space launch vehicles and satellites, wind turbine blades, and industrial/recreational applications.

Hexcel Corporation established a new manufacturing facility in Casablanca, Morocco in January 2016. This facility was established with a view to cater to the increasing demand for core structure, which involves the production of honeycomb materials. This approach by the company was aimed to target the aerospace industry providing secondary structures of aircraft, nacelles, and helicopter blades. In 2012 the company signed a distribution agreement with Sikorsky Aircraft (U.S.) to supply HexWeb honeycomb materials.Delta Group produces and supplies high-quality prepreg and process carbon fiber for automobile applications.

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Asia-pacific is estimated to be the largest market for top 10 high growth composite materials
Asia-Pacific is estimated to be the largest market for top 10 high growth composite materials, owing to the high demand from the wind energy, electrical & electronics, and construction applications in the region. Easy availability of raw materials, low labor cost, growing manufacturing industries, and capacity expansions by various manufacturers are expected to further boost the growth of the top 10 high growth composite materials market in Asia-Pacific.

Some of the key players in the composites market include Owens Corning (U.S.), Strongwell Corporation (U.S.), Toray Industries Inc. (Japan), Teijin Limited (Japan), DAIB Group (Sweden), and Celanese Corporation (U.S.). These players have adopted various organic and inorganic developmental strategies in the past five years to maintain their position in the top 10 high growth composite materials market.

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