Structural Composites Market Growth Analysis | 2024-2029

Market Insights

The structural composites market is likely to witness a healthy CAGR of 7.2% during the forecast period 2024-2029.

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What are structural composites?

Structural composites are engineered products manufactured from polymer, wood, or metals. Structural composites are low-maintenance and crack-resistant products used in sectors such as automotive, aerospace, marine, construction, and energy.

Market Dynamics

Major factors driving the growth of the structural composites market are-

• Increasing automotive and marine production.
• Robust demand from the aircraft industry.
• Increasing investment in infrastructure projects.
• Rising demand from the construction sector.

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Segment Analysis

By Matrix Type

Based on the matrix type, the market is segmented as polymer, wood, and metal. Polymer is expected to hold the major share of the market during the forecast period, owing to its growing demand from various sectors. In addition, polymer matrix exhibits various properties such as low specific weight, corrosion resistance, good thermal and electrical insulation, ease of mass production, and excellent optical properties. All of these properties are further expected to drive market growth during the forecast period.

By Reinforcement Material Type

Based on the reinforcement material type, the market is segmented as glass fiber, carbon fiber, aramid fiber, and others. Glass fiber reinforcement is estimated to account for the major share of the market during the forecast period. It is the most commonly used reinforcement material and has extensive applications in major sectors owing to its economical prices. The growth of the segment is driven by some of its key properties, such as incombustibility, corrosion resistance, high strength at low densities, good thermal insulation, and sound insulation. Furthermore, rapid development in the global energy, construction, infrastructure, and transportation industries is likely to positively influence the growth of the structural composites market segment in the coming years.

Regional Insights

In terms of regions, Asia-Pacific is estimated to be the leading region in the market due to increasing construction spending, rising infrastructure development, and growing energy and defense sectors. In addition, rising economic development, availability of raw materials, and increasing investment in public infrastructure are further expected to fuel the market growth over the forecast period. China and India are the growth engines of the region’s market. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.

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Critical Questions Answered in the Report

• What are the key trends in the global market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
• What is the impact of COVID-19 on the global market?
• What are the key strategies adopted by the major vendors to lead in the market?
• What is the market share of the top vendors?

Market Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The structural composites market is segmented into the following categories.

By Matrix Type

• Polymer
• Wood
• Metal

By Reinforcement Material Type

• Glass Fiber
• Carbon Fiber
• Aramid Fiber
• Others

By Sector Type

• Construction & Infrastructure
• Energy
• Transportation
• Others

By Region

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Key Players

Some of the key players in the market are-

• Argosy International Inc.
• Hexcel Corporation
• Hexion Inc.
• Huntsman Corporation
• Mitsubishi Chemical Holdings Corporation
• Owens Corning
• SGL Group
• Solvay S.A.
• Teijin Limited
• Toray Group.

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation by any one of the reinforcement material types by sector type.

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.