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    Composites Market | Covid-19 Impact Analysis

    Composites Market | Covid-19 Impact Analysis

    Composites Market | Covid-19 Impact Analysis
    Report code - SRAM375 Delivery - 2 Weeks
    Composites Market Size, Share, Trend, Forecast, & Industry Analysis 
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    Impact of COVID-19 on Composites Market

    Covid-19 has impacted the market dynamics, competition, and global...

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    Impact of COVID-19 on Composites Market

    Covid-19 has impacted the market dynamics, competition, and global supply chains. The revenues has gone down in 2020 and may resume an uptrend gradually form 2021. Companies optimizing their operation and strategy will sustain and beat the competition.

    Note: The summary below might not have included insights on covid impact since we have large number of reports.

    Composites Market Insights

    Composites market is likely to witness an impressive CAGR of 6.8% during the forecast period. The prime factor underpinning the demand for composites is the increasing penetration of lightweight materials in various end-use industries such as aerospace & defense, automotive, and wind energy, which is driving the growth of the market.

    Composites Market - Snapshot

    Growth

    6.8% for the next five years

    Major Resin Type

    Thermoset Composites

    Dominant Fiber Type

    Glass Fiber Composites

    Dominant Manufacturing Process Type

    Lay-up

    Major End-Use Industry

    Transportation

    Region with the highest demand

    Asia-Pacific

    Key Players

    Hexcel Corporation, Hexion Inc., Huntsman Corporation, Koninklijke Ten Cate BV, Mitsubishi Chemical Corporation, Owens Corning, SGL Group, Solvay S.A., Teijin Limited, Toray Industries Inc., and others

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    Market Share Analysis

    Composites Market Share: By Resin Type

    Based on the resin type, the market is segmented as thermoset composites and thermoplastic composites. Thermoset composites dominated the market in 2019, and are expected to remain dominant during the forecast period. Thermoset resins are lower in cost, offer higher performance, and are more durable. Thermoset composites are more preferred in aerospace & defense, marine, wind energy, and others.

    Composites Market Share: By Fiber Type

    Based on the fiber type, the composites market is segmented as glass fiber composites, carbon fiber composites, natural fiber composites, and others. Glass fiber composites accounted for the largest share of the market in 2019, as they are comparatively cheap than carbon fiber and offer the required physical and mechanical properties such as strength, durability, and stability. This segment is likely to maintain its dominance during the forecast period as well. The growth of the segment can be attributed as glass fiber composites are dominantly used in the wind energy, pipes & tanks, electrical & electronics, and construction industries, whereas carbon fiber composites are dominantly used in aerospace & defense industry as they are lightweight as compared to glass fibers.

    Composites Market Share: By Manufacturing Process Type

    Based on the manufacturing process type, the market is segmented as lay-up, filament winding, injection molding, pultrusion, compression molding, resin transfer molding, and others. The lay-up process type is expected to dominate the market during the forecast period as it is the most cost-effective process, driving the growth of the segment.

    Composites Market Share: By End-Use Industry Type

    Based on the end-use industry type, the composites market is segmented as transportation, aerospace & defense, wind energy, construction & infrastructure, pipes & tanks, marine, electrical & electronics, and others. The transportation segment is expected to dominate the market during the forecast period. Composites offer improved strength-to-weight ratio, which provides lightweight construction and hence, fuel-efficient transportation vehicle.

    Composites Market Share: By Region

    In terms of regions, Asia-Pacific is estimated to remain the largest market during the forecast period driven by the expanding transportation industry, increasing number of wind turbine installations, and significant growth in construction & infrastructure of the growing economies such as China and India.

    Some of the major composite manufacturers are-

    • Hexcel Corporation
    • Hexion Inc.
    • Huntsman Corporation
    • Koninklijke Ten Cate BV
    • Mitsubishi Chemical Corporation
    • Owens Corning
    • SGL Group
    • Solvay S.A.
    • Teijin Limited
    • Toray Industries Inc.
    • others.

     

    Market Scope & Segmentation

    Composites are engineered materials made up of polymer matrix reinforced with fiber and exhibit high strength-to-weight ratio and modulus-to-weight ratio. Common fibers used are glass fiber, carbon fiber, aramid fiber, natural fiber, etc. The polymers usually are thermoset resins such as polyester, epoxy, vinyl ester, polyurethane, and others. Some of the thermoplastics are also used as polymer matrix.

    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.

    Composites Market Research Report - Features

    Market Segmentation

    5

    Regions Covered

    4

    Countries/Sub-Regions Covered

    17

    No. of Figures & Tables

    >150

    Company Profiles

    10

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    The Composites market is segmented into the following categories. 

    Composites Market Size, Share, & Forecast, by Resin Type:

    • Thermoset Composites
      • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
      •  (Resin Type Analysis: Polyester Resin, Epoxy Resin, Vinyl Ester Resin, Polyurethane Resin, and Others)
    • Thermoplastic Composites
      • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
      •  (Resin Type Analysis: Polycarbonate, Polyphenylene Sulfide, Polyetherimide, Polyetheretherketone, Polyamide, and Others)

    Composites Market Size, Share, & Forecast, by Fiber Type:

    • Glass Fiber Composites (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Carbon Fiber Composites (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Natural Fiber Composites (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Composites Market Size, Share, & Forecast, by Manufacturing Process Type:

    • Lay-up (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Filament Winding (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Injection Molding (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Pultrusion (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Compression Molding (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Resin Transfer Molding (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Composites Market Size, Share, & Forecast, by End-Use Industry Type:

    • Transportation (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Aerospace & Defense (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Wind Energy (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Construction & Infrastructure (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Pipes & Tanks (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Marine (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Electrical & Electronics (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Composites Market Size, Share, & Forecast, 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)

     

    Research Methodology

    This report offers high-quality insights and is the outcome of 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 book, press release, journals, investor presentation, 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 the 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. The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
    • Market trend and forecast analysis
    • Market segment trend and forecast
    • Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
    • Attractive market segments and associated growth opportunities
    • Emerging trends
    • Strategic growth opportunities for the existing and new players
    • Key success factors

     

    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 of any one of the form resin types by end-use industry 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 at [email protected]


    Frequently Asked Questions (FAQs)

    What will be the growth of Composites Market in the foreseeable future?

    The composites market is expected to witness an impressive growth of 6.8% CAGR in the foreseeable future.

    Who are the key players in the Composites Market?

    Hexcel Corporation, Hexion Inc., Huntsman Corporation, Koninklijke Ten Cate BV, Mitsubishi Chemical Corporation, Owens Corning, SGL Group, Solvay S.A., Teijin Limited, Toray Industries Inc., and others are aming the key players in the composites market.

    Which country/region is expected to remain the largest Composites Market?

    Asia-Pacific is expected to remain the largest market for composites during the next five years.

    Which type of resin is expected to remain dominant in the market?

    Thermoset composite is expected to remain dominant resin type in the composites market in the coming years.

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