Browse 74 market data tables and 58 figures spread through 159 pages and in-depth TOC on “Composites Market"
Early buyers will receive 10% customization on reports.
It also identifies the driving and restraining factors for the composites market with an analysis of trends, opportunities, burning issues, and winning imperatives. The market is segmented and the volume & value have been forecasted on the basis of major regions such as North America, Asia-Pacific, Europe, and Rest of the World (RoW).
Increase in demand of Composites from Automotive Industry
The demand of light weight automotive parts has given an edge to composites due to its high strength and light weight properties. The use of composites enabled automotive parts reduction in light weight vehicles, improved engine efficiency, reduction in CO2 emissions and superior performance. The automotive industry can benefit from composites in several applications such as powertrain, suspension and breaking systems, exhaust systems and catalytic converters, lubrication, tires and body parts. The advantage of composites over conventional composites is that their mechanical, electrical, thermal, barrier and chemical properties such as increased tensile strength, improved heat deflection temperature, flame retardancy etc. As automakers in U.S. work to meet Corporate Average Fuel Efficiency (CAFE) standards of 36.6 mpg by 2017 and 54.5 mpg by 2025, vehicle weight reduction has become a major strategy. The use of composites in automobiles can help the manufacturers to achieve the target with improved mileage
Global composites market of end use product by value is projected to reach around $90 billion by 2020
The market for composites end market in terms of value is expected to reach around $90 billion by 2020, growing at a significant CAGR 7% to 9% from 2015 to 2020. The Asia-Pacific region dominated the composites market in terms of volume in 2014 and it is expected to grow at a higher CAGR, from 2015 to 2020. Large construction industry, wind and increasing automotive and aerospace & defense industry in Asia-Pacific region helped it to dominate the global composites market. Construction market in Asia-Pacific is the major driving factor for the composites application market.
North America & Asia-Pacific accounted for more than 68% share in the composites market in terms of volume in 2014
Asia-Pacific is the prime consumer of composites globally followed by North America. North America and Asia-Pacific together accounted for more than 68% of the composites in terms of volume in 2014. Asia-Pacific is expected to grow at a highest CAGR and secure its leading market position by 2020, with increasing demand from automotive, wind, and construction market. In North America the use of composites continues to increase in aerospace & defense and automotive industries to replace the other conventional composites that reduces the weight of vehicles and increases the mileage.
MarketsandMarkets is world’s No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
North - Dominion Plaza,
17304 Preston Road,
Suite 800, Dallas, TX 75252