Composite Materials Market Set to Grow at Healthy CAGR of 7.58% by 2026


Posted October 16, 2019 by peeterdbmr

Composite materials can be defined as the materials formulated from combining two or more individual materials with varied characteristics and properties.

 
Global Composite Materials Market of which global composite materials market is a part of is expected to grow with a CAGR of 7.58% in the forecast period of 2019-2026. This is to result in a rise from its initial estimated value of USD 84.79 billion of 2018 to a projected value of USD 152.13 billion by 2026.

Key Market Competitors:
DowDuPont; AGC MATEX CO.,LTD; 3M; TORAY INDUSTRIES, INC.; Magna International Inc.; 3A Composites; Mitsubishi Chemical Corporation; COMPOSITES UNIVERSAL GROUP; Solvay; Axalta Coating Systems, LLC; ASAHI FIBER GLASS Co., Ltd.; Owens Corning; TEIJIN LIMITED; Koninklijke Ten Cate BV; Cabot Corporation; Henkel AG & Co. KGaA; Engineered Bonding Solutions, LLC; Aztron Technologies, LLC.; PPG Industries, Inc.; NEI Corporation; Ashland and H.B. Fuller Company are few of the major competitors currently present in the market.

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Composite materials can be defined as the materials formulated from combining two or more individual materials with varied characteristics and properties. Once these individual materials are combined they display a set of different characteristics that might not be possible if they had been used individually.

Competitive Analysis:
Global composite materials market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of composite materials market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

Market Segmentation: Global Composite Materials Market
• By Resin (Thermoset Resins, Thermoplastic Resins)
• By Fiber (Glass, Carbon, Aramid, Others)
• By Coatings (Surface Veil, Gel Coat)
• By Adhesives (Epoxies, BMI, Cyanate Ester, Polyurethanes, Modified Acrylics, Silicones)
• By End-User (Construction, Transportation, Electronics & Electrical, Healthcare, Power Generation, Industrial, Aerospace & Defense, Marine, Others)
• By Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)

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Market Drivers:
• Growth in the applications of the product from various end-users; this factor is expected to act as a driver for the market growth
• Advancements in technology and innovations in the market of composite materials; this factor is expected to drive the market growth

Market Restraint:
• High levels of cost associated with the product is expected to restrain the market growth
Key Insights in the report:
• Complete and distinct analysis of the market drivers and restraints
• Key market players involved in this industry
• Detailed analysis of the market segmentation
• Competitive analysis of the key players involved

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