The textile composites material market is estimated at USD 4,770.0 Million in 2015 and is projected to reach USD 6,597.0 Million by 2020, at a CAGR of 6.7%, between 2015 and 2020.

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Since the last thirty to forty years, the usages of textiles composite in applications have increased steadily, penetrating, and conquering new markets, constantly. The importance of textiles composite has already been proven being light-weight materials with high strength & stiffness properties, the current challenge is to make them cost effective. The efforts to manufacture low cost composite textiles components have resulted in several innovative production techniques, which are currently used in the composites textile industry. Textiles composite are widely used in electrical & electronics, marine, sporting goods, aerospace & defense and wind energy applications.

There are many drivers which are forcing the textile composite market to grow at a high CAGR including increase in demand for lightweight materials from the transportation industry to increase in the fuel efficiency. Also, the growing demand for wind energy as clean energy and increasing use of composite textiles in prepreg form by Boeing and Airbus in the aerospace industry which are the major factors driving the market. In 2014, the wind energy market increased by around 45% due to the adoption of green energy, globally. China added 23,350 MW of wind power capacity in 2014, which accounted for almost 90% of the addition of wind power capacity that took place in the Asia-Pacific region, which helped to drive the textile composite market in the region. The growing use of textiles composite in the transportation industry including rail, high end cars, medium, and heavy duty vehicles, helped the market to grow at a good pace. Both Boeing and Airbus are projecting multibillion dollar markets for new airplanes where the use of composite textiles is expected to increase over the next 20 years. Traditionally, used textiles composite such as glass fiber textiles composite and carbon fiber textiles composite are widely used in electronics, wind, and marine industries and now their area of commercial applications is increasing in sporting goods, construction, health care and aerospace & defense applications.

The report analyzes the textile composites market in various applications and covers the market demand with respective regions. This report is useful for fiber manufacturers, textiles composite manufactures, intermediate manufacturer, structural parts manufacturer, Original Equipment Manufacturer (OEM), and end-user industries such as aerospace & defense, automotive, sporting goods, wind, construction, pipe & tanks, and marine, which are involved in the value chain of textiles composite.

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