The report “ Composite Materials Market: By Material (Fibre Reinforced Polymers, Resins, Matrices & others); By Application (Aerospace, Construction, Wind Energy, Automotive & others); By Method (Open Moulding & Closed Moulding); By Geography - Forecast (2015 - 2020) ″, defines and segments the global Composite Materials market with an analysis and forecast of the market size.
Browse Market Data Tables, Figures spread through 180 pages and in-depth TOC on “Composite Materials Market: By Material (Fibre Reinforced Polymers, Resins, Matrices & others); By Application (Aerospace, Construction, Wind Energy, Automotive & others); By Method (Open Moulding & Closed Moulding); By Geography - Forecast (2015 - 2020)”.
Composite Materials refer to strong lightweight substances made up of leastwise two constituent elements (fillers, reinforcers, bases, binders) that retain their identities thereby imparting their specific properties to the material resulting from their integration. Composite construction materials, reinforced plastics like FRPs, metal and ceramic composites are some of the commonly manufactured Composite Materials.
The Global Composite Materials Market is expected to witness a substantial growth to around $36 Billion with a CAGR of about 7% during the forecast period of 2014-2020.
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In 2014, the top three market segments in 2014 were Transportation, Construction and Pipe and Tank which together represented a huge 69% of the total volume in the market out of which the Pipe and Tank Segment grew by 5.2% in 2014. And on the other hand, the most extensively used raw material in the Composites Market is Glass Fibers which accounts for about 90% of the total reinforcements. The demand in the U.S Composites Market is slated to grow at a CAGR of 6.6% and to be $12 Billion by 2020.
Fibre Reinforced Polymers (FRP) is further segmented as Glass Fibre Reinforced Polymers, Carbon Fibre Reinforced Polymers and Aramid Fibre Reinforced Polymers. These are collectively known as Reinforced Polymers. They contribute to about 90% of the total composite materials market. Reinforced plastics contain resins that are reinforced with fibers to improve structural and physical properties.
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To shed little light on Geography of this market, APAC and North America were noted to be the dominating regions in 2013 accounting for almost 67% of the overall market (APAC held 50% and North America owned the rest of the share. The GFRP composites by raw material type are projected to grow at a CAGR of 7.1% through 2014-2020. Within aerospace, composite materials demand grew by 10.7% in 2014. Composites usage will continue to grow because of increased production of advanced aircraft models across the globe.
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The Composite Materials Market is broadly classified into 5 types based on certain factors like:
- By Type: FRP Composites (Fiber Reinforcement Polymers), Matrices, Resins and Others.
- By Method: Open and Closed Molding.
- By Application: Aerospace, Wind Energy, Automotive, Construction and Others.
- By Form: Fiber Tow, Unidirectional Tape and Cloth.
- By Geography: Americas, Europe, APAC and ROW.
- Asahi Fiber Glass Company
- PPG Industries
- Saint-Gobain Vetrotex
- Teijin Group
- Toray Industries
- Hexcel Corporation
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