Growth Opportunities in the Global Composites Industry - A $38 Billion Market Opportunity by 2023 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Jun 6, 2018--The “Growth Opportunities in the Global Composites Industry ” report has been added to ResearchAndMarkets.com’s offering.
The global composite materials market is expected to reach an estimated $38 billion by 2023 and it is forecast to grow at a CAGR of 4.1% from 2018 to 2023. The global composites end product market is expected to reach an estimated $107.4 billion by 2023.
The major drivers for growth in this market are increasing demand for lightweight materials in the aerospace & defense and automotive industry; corrosion and chemical resistance materials demand in construction and pipe & tank industry; electrical resistivity and high flame retardant materials demand in electrical and electronics industry.
Emerging trends, which have a direct impact on the dynamics of the composites industry, include development of low-cost carbon fibers, high performance glass fiber, and rapid cure resin system.
On the basis of its comprehensive research, it is forecast that the aerospace and wind energy segments are expected to show average growth during the forecast period from 2018 to 2023.
Within the global composites market, injection molding, hand layup, compression molding, spray up, filament winding, resin infusion, and prepreg layup are some of the major processes utilized to manufacture composite parts. Injection molding is expected to be the largest process in terms of value and volume in composite manufacturing because of high-output production rate, low labor cost, and design flexibility.
Asia Pacific is expected to remain the largest region by value and volume; this region is also expected to experience the highest growth over the forecast period because of growth in construction, transportation, and the electrical and electronics segments. The major drivers for growth are increasing automotive production, high growth in construction, and infrastructure development.
Key Topics Covered
1. Executive Summary
2. About the Composites Industry
3. Competitive Analysis of the Steel, Aluminum, Plastics, and Composites Industries
4. Global Reinforcement Market
5. Global Resin Market
6. Global Composites Market by Material Type
7. Global Composites by Market Segment
8. Global Composites Market by Manufacturing Process
9. Trends and Forecast
10. Regional Analysis
11. Value Chain Analysis and Industry Leaders
12. Material and Technology Needs for the Future Composites Industry
13. Innovations in the Composites Industry
For more information about this report visit https://www.researchandmarkets.com/research/w2mql6/growth?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20180606006072/en/
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SOURCE: Research and Markets
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PUB: 06/06/2018 12:33 PM/DISC: 06/06/2018 12:33 PM