Composites Market Driven by Steady Growth of Automotive, Wind Energy Sectors.

The global composites market is dominated by companies such as Owens Corning, Hexcel Corporation, Toray Industries, and TPI Composites Inc. While these and other multinational players exert significant dominance in the global composites market, the composites industry is likely to feature a large number of smaller players in the coming years due to the diversity of areas in which composite industry players can specialize in. The novel nature of the composites sector has also aided its growth, as the commercial potential of each aspect of the market remains high. Thus, smaller regional players are likely to have a say in the proceedings in the global composites market in the coming years.

Obtain Report Details @: http://www.transparencymarketresearch.com/composites-market.html

According to Transparency Market Research (TMR), the global composites market was valued at US$47.3 bn in 2016 and is likely to rise to close to US$102 bn by 2025 at a robust CAGR of 8.9% between 2017 and 2025. Product innovation is likely to remain the most important competitive strategy in the global composites market in the coming years, while the market’s progression towards consolidation will also lead to a number of mergers and acquisitions.

Booming Automotive, Wind Energy Sectors Drive Demand from Composites Market

The steady growth of the automotive industry has emerged as a key driver for the global composites market due to the widespread use of various composites in automotive design and the high commercial potential of the automotive industry due to its growing presence in emerging regions. The lightness provided by composites has become a major feature in automotive design, as lighter vehicle construction helps reduce its fuel emissions as well as helping produce better engine performance. These attributes are likely to remain important to the automotive industry due to tightening environmental regulations across the world, enabling consistent demand from the global composites market.

The automotive and transportation sector accounted for more than 25% of the global composites market in 2016 and is likely to remain a leading contributor in the coming years due to the rising demand for transportation in emerging economies, where the rapid pace of urbanization has driven the demand from a wide-ranging network of ancillary industries.

The wind energy sector has come to the fore at a rapid pace in recent years due to the growing awareness about the unsustainability of the conventional energy usage structure based on fossil fuels. This has led to growing demand from the global composites market due to the benefits provided by lighter construction materials in maximizing the energy output from wind energy generation units. The growing government support to alternative energy sources such as solar and wind power in emerging regions is thus likely to be a major driver for the global composites market in the coming years.

Fill the form to gain deeper insights on this market @: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=25094

North America to Retain Dominant Share due to Consistent Encouragement to Technological Progress

Regionally, North America and Europe are likely to retain dominant shares in the global composites market in the coming years due to the steady presence of leading technological institutions in the regions. Government support to technological innovations has also been forthcoming in countries such as the U.S., the U.K., Germany, and France, enabling a conducive environment for the global composites market. Widespread public awareness in the developed regions is also a key driver for the global composites market, as there is steady demand in the consumer market for products containing the latest technological innovations.

The high production of automobiles in North America and Europe is likely to remain a key driver for the global composites market in the coming years. Several leading automotive firms have firmly established production bases in the U.S. and Western Europe, while the U.S. also represents one of the leading automotive markets in the world, making North America and Europe crucial for the global composites market’s future.

By product type, polymer matrix composites are likely to dominate the global composites market, with carbon fiber reinforced plastics likely to remain a preferred material in automotive design.

The information in this preview comes from a Transparency Market Research report titled ‘Composites Market (Product – Polymer Matrix Composite (Carbon Fiber Reinforced Plastic, Glass Fiber Reinforced Plastic, and Aramid Fiber Composites), Metal Matrix Composites, and Ceramic Matrix Composites; Technology – Pultrusion Process, Layup process, Filament Winding, Compression Molding, Injection Molding, Resin Transfer Molding, Automated Fiber Placement, and Automated Tape Laying; Application – Automotive & Transportation (Interior, Exterior, Power Train Components, Brake Pads, Chassis), Construction, Aerospace & Defense, Electrical & Electronics, Marine & Oil & Gas (Pipes and Top Side Application), Wind Energy, and Consumer Goods) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025.’

The global composites market is segmented as follows:

Composites Market – By Product Type
Polymer Matrix Composites
Carbon Fiber Reinforced Plastic
Glass Fiber Reinforced Plastic
Others (Aramid fiber composites, etc.)
Metal Matrix Composites
Ceramic Matrix Composites

Composites Market – By Technology
Pultrusion Process
Layup Process
Filament Winding
Compression Molding
Injection Molding
Resin Transfer Molding
Others (Automated fiber placement, automated tape laying, etc.)

About Us

Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR syndicated research report covers a different sector – such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.

US Office Contact

90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com

Name: Rohit Bhisey
Organization: Transparency Market Research
Website: http://www.transparencymarketresearch.com/composites-market.html

ReleaseID: 8136