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The Composites Market is likely to witness an impressive CAGR of 6.7% during the forecast period. The prime factor that is contributing to the demand for Composites is the increasing demand for Composites in various industries.
This report on the Composites Market has been put together covering various companies of the industry from different geographies. The study is a perfect blend of qualitative and quantitative research highlighting vital market developments, challenges and competition that the industry might face, along with opportunities and trends available in the Composites Market. The report intends to present a thorough analysis of the Composites Market and provide cutting-edge market intelligence to help decision makers undertake a sound investment evaluation. Besides, the report also classifies and analyses the emerging trends along with major growth drivers.
Composites Market Outlook
In the report, the market outlook section mainly encompasses fundamental dynamics of the market which include drivers, restraints, opportunities and challenges faced by the industry. Drivers and Restraints are intrinsic factors whereas opportunities and challenges act as extrinsic factors affecting the market. The report aims at answering several key questions concerning the overall profitability in the market.
Few key players operating in the Composites Market are-
Hexcel Corporation
Hexion Inc.
Huntsman Corporation
Koninklijke Ten Cate BV
Mitsubishi Chemical Corporation
Owens Corning
SGL Group
Solvay S.A.
Teijin Limited
Toray Industries Inc.
Others.
Growth drivers and Market Value:
This report, from Stratview Research, studies the Composites Market value and growth drivers over the trend period of 2022-27. According to the report -
Composites market is likely to witness an impressive CAGR of 6.8% during the forecast period. The prime factor underpinning the demand for composites is the increasing penetration of lightweight materials in various end-use industries such as aerospace & defense, automotive, and wind energy, which is driving the growth of the market.
Segment Analysis:
Based on Resin Type:
Based on the resin type, the market is segmented as thermoset composites and thermoplastic composites. Thermoset composites dominated the market in 2021, and are expected to remain dominant during the forecast period. Thermoset resins are lower in cost, offer higher performance, and are more durable. Thermoset composites are more preferred in aerospace & defense, marine, wind energy, and others.
Based on Region:
In terms of regions, Asia-Pacific is estimated to remain the largest market during the forecast period driven by the expanding transportation industry, increasing number of wind turbine installations, and significant growth in construction & infrastructure of the growing economies such as China and India.
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