Composites Market by Type (Carbon Composites, Glass Composites and Aramid Composites), by Manufacturing technology (Layup, Filament winding, Injection molding, Pultrusion, Compression Molding etc.) , by Resin Type (Thermoplastics Composites and Thermosets Composites), by Application (Automotive, Aerospace & Defense, Electronics & Semiconductor, Wind, Construction, Pipe & Tanks, Marine and others), and by Region – Global Trends and Forecasts to 2020

Date: 2015-07

“The composites market size of end products in terms of value is projected to reach around $90 billion by 2020 and expected to grow at a CAGR of 7% to 9% between 2015 and 2020. Asia-Pacific held the largest share by volume in composites market in 2014. Major growth in the Asia-Pacific region is expected from the growing construction, aerospace and electronics & semiconductor application.
The composites market in Asia-Pacific region is growing fast as the application industries such as automotive, construction, aerospace and electronics & semiconductor application are expected to register a significant growth rate in next five years. Presence of emerging economies such as India and China are helping the composites market to grow in the region. The freeing up and privatization of the industry, and massive foreign investment combined with low costs are factors in this growth.
Agreements & partnerships and expansion of production capacity were the key strategies adopted by industry players in order to maintain growth in the composites market. The composites has wide industrial applications and new collaborations and agreements are paving the way for fulfilling the ever changing demand for new applications with better physical and mechanical properties. As a result of this, a diverse application base is developing for composites. Market players are focusing on signing new agreements with end-user companies especially in automotive industry that can meet the growing demand from application industries.
The major players in the composites market are Cytec Industries (U.S.), Gurit Holding AG (Switzerland), Hexcel Corporation (U.S.), Jushi Group Co. Ltd. (China), Mitsubishi Rayon Co. Ltd (Japan), Toho Tenax (Japan), Owens Corning (U.S.), and others.

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