The global composites market is anticipated to witness good growth with a CAGR of 3.5% over the next five years. The major drivers of growth for this market are double-digit growth in wind energy and strong growth in aerospace market. Increasing urban population and high growth in the building and infrastructure development are other major drivers. Lucintel, a leading global management consulting and market research firm, has analyzed the global composites industry and presents its findings in “Growth Opportunities in Global Composites Industry 2016-2021.”
The Asian region, which has already emerged as the largest growth area for the composites industry, is expected to further consolidate its leadership. Asia is anticipated to have a market share of approximately 47.7% by volume in 2021. North America is expected to be second with an estimated market share of 26.2% in 2021. Nevertheless, comparatively lower levels of per capita composites consumption is anticipated to help high growth markets in BRIC countries sustain momentum for a longer period. On a global basis, the composites industry is forecast to grow by 3.5% in 2016. Improving economic conditions in major countries, such as the US and Europe are expected to propel the global composites market once again towards strong growth.
Lucintel’s research further reveals that demand for composite materials in the aerospace sector is expected to witness the maximum growth among all sectors. Construction and transportation are anticipated to witness good growth in the next five years. Carbon fiber composite applications are expected to grow more rapidly compared to glass fiber applications.
In the future, Lucintel expects higher market fragmentation for the industry due to the emerging economies coming into play. The future market is expected to be highly competitive, and companies with innovative capabilities can be anticipated to thrive and gain market share.
Emerging trends, which have a direct impact on the dynamics of the industry, include development of low-cost carbon fibers for automotive, wind and industrial applications. Development of high performance glass fiber and shorter cycle time of resin system is other emerging trends in composites industry.
This report by Lucintel provides a concise overview of the global composites market. The study contains detailed analysis of different raw material use such as glass fiber, carbon fiber, aramid fiber, UPR, epoxy, vinyl ester, phenolic, polyurethane and thermoplastic resin.
The data and analysis found in this report can be utilized for a variety of functional business reasons including business development, strategic planning, business presentations, determination of market size and trend, competitive analysis, investment decisions, business vision, and joint product development.
This report is a must-have report by every company working in the composites industry. In today’s global economy, you need every advantage that you can find to keep you ahead in your business. Learn about current and future trends, identify key players, and explore the directions that the industry and different segments are heading.
This unique report from Lucintel will provide you with valuable information, insights, and tools needed to identify new growth opportunities and operate your business successfully in this market. This report will save hundreds of hours of your own personal research time and will significantly benefit you in expanding your business in this market. In today’s stringent economy, you need every advantage that you can find.
To make any investment, business or strategic decisions, you need timely and robust market information. This market report fulfills this core need. This is an indispensable reference guide for composite material suppliers, product manufacturers, investors, researchers, engineers, distributors and many more, who are dealing with the composites industry.
· Market breakdown by manufacturing technologies by manufacturing process, by market segments, and by various material types:
- Thermoset and thermoplastic composites market size
- Market outlook and global trends in automotive, marine, construction, aerospace and other important market segments with needs and challenges of various market segments
- Value chain analysis. Dollar and gross profit flow through various nodes of the value chain (from raw material to final application)
- Material price and property comparison. Fiber and resin price history and forecast. Material prices of fibers, resins, fabrics, prepregs, adhesives.
- Company profiles of material and end product manufacturers
- Current innovations in Global composites industry
This 371-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link http://www.lucintel.com/composites_market_2021.aspx or firstname.lastname@example.org. Lucintel offerings include advanced materials reports, composite materials market report, strategic growth consulting, market research due diligence and market research reports online.