According to IndustryARC, Global Composite Materials Market is expected to witness a substantial growth to around [b]$36 Billion[/b] with a CAGR of about [b]7%[/b] during the forecast period of 2014-2020.

The most commonly manufactured Composite Materials include composite construction materials, reinforced plastics like FRPs, metal and ceramic composites.

A composite material is basically a material made from two or more constituent materials with significantly different physical or chemical properties that, when combined, produce a material with characteristics different from the individual components. While the individual components remain separate and distinct within the finished structure, the new material may be preferred for many reasons like: materials which are stronger, lighter, or less expensive when compared to traditional materials. Much lately, researchers have also begun to actively include sensing, actuation, computation and communication into composites, called Robotic Materials.


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[b]Market Trends & Growth:[/b]
There are widespread applications for the composite materials market, of which construction and transportation segments occupy the major application share. Composites usage will continue to grow because of increased production of advanced aircraft models across the globe.

Market research suggested that in 2014, the top three market segments in 2014 were Transportation, Construction and Pipe and Tank which together represented a huge 69% of the total volume in the market out of which the Pipe and Tank Segment grew by 5.2% in the same year. And on the other hand, the most extensively used raw material in the Composites Market is accounted to be Glass Fibers which owned for about 90% of the total reinforcements in driving the sales and revenue of the market.

To shed little light on Geography of this market, APAC and North America were noted to be the dominating regions in 2013 accounting for almost 67% of the overall market (APAC held 50% and North America owned the rest of the share.) The GFRP composites by raw material type are projected to grow at a CAGR of 7.1% through 2014-2020. Within the aerospace market segment, demand for composite materials was noted to have grown by 10.7% in 2014. Also, the demand in the U.S Composites Market is slated to grow at a CAGR of 6.6% and to be $12 Billion by 2020.


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[b]REPORT SCOPE:[/b]
[b]Market Segmentation:[/b]
The Composite Materials Market is broadly segmented into 5 types with further sub segments in each category. The decisive factors for classification being:
1. By Type: FRP Composites (Fiber Reinforcement Polymers), Matrices, Resins and Others.
2. By Method: Open and Closed Molding.
3. By Application: Aerospace, Wind Energy, Automotive, Construction and Others.
4. By Form: Fiber Tow, Unidirectional Tape and Cloth.
5. By Geography: Americas, Europe, APAC and ROW.

[b]Key Players:[/b]
Some of the major notable market players which are mentioned in this report by IndustryARC are:
• Dupont
• Saint-Gobain Vetrotex
• Lingol Corp
• J. M. Huber Corporation
• Ashland Specialty Chemicals


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