Dublin, Nov. 06, 2018 (GLOBE NEWSWIRE) -- The "Composites Market Size, Share & Trends Analysis Report By Product (Carbon, Glass), By Resin (Thermosetting, Thermoplastic), By Manufacturing Process, By Application, By End Use, And Segment Forecasts, 2018 - 2024" report has been added to ResearchAndMarkets.com's offering.

The global composites market size is expected to reach USD 130.83 billion by 2024

It is anticipated to expand at a CAGR of 7.8% over the forecast period. Rising demand for lightweight materials from automotive and aerospace industries is likely to drive market growth.

Rising need for lightweight vehicles is expected to fuel composites market growth over the forecast period. U.S. and Europe are the key regions in the aerospace and defense sector with aircraft manufacturers such as Boeing and Airbus driving product demand.

The composites market has observed backward as well as forward integration from various raw material manufacturers. In-house availability of major raw materials and production and utilization of carbon fiber aids the manufacturers to reduce logistics cost. It also helps them cater to various end-use product manufacturers directly to enhance profitability. Carbon Fiber Reinforced Plastic (CFRP) applications depend on grades and ultimately the quality of precursor. Manufacturers are developing their own manufacturing technique to gain competitive advantage. Special applications of CFRP such as aerospace and high-performance cars are manufactured as per client requirements.

Glass fiber was estimated as the largest product segment in the global composites market, with a share of 64.0% in 2015. Carbon fiber mostly comprises carbon atoms bounded together in crystals that are aligned parallel to the fiber. These fibers are combined with other materials to form a composite. It is molded with plastic resin to form carbon fiber reinforced polymer. Carbon fibers find numerous applications owing to their properties such as low thermal expansion, weight, high stiffness, temperature tolerance, and chemical resistance.

Further key findings from the report suggest:

• Thermosetting resin was estimated to be the largest market for composites globally, with a share of 83.3% in 2015. Thermoplastic resin is projected to be the fastest growing segment through 2024
• Asia Pacific dominated the global composite application market for pipes and tanks in 2015 and is expected to continue its dominance over the forecast period. Increasing offshore oil drilling is expected to fuel growth over the forecast period
• Glass fiber emerged as the largest product segment in the global composites market, with a share of 64.0% in 2015. Carbon fiber is projected to be the fastest growing segment from 2016 to 2024
• Key players include Teijin Limited, Toray Industries, Inc., Owens Corning, PPG Industries, Inc., Huntsman Corporation, Hexcel Corporation, and E. I. DuPont Nemours & Co.

Key Topics Covered:

Chapter 1 Methodology and Scope
1.1 Research Methodology
1.2 Research Scope & Assumptions
1.3 List of Data Sources

Chapter 2 Executive Summary

Chapter 3 Composites Market Industry Outlook
3.1 Composites market segmentation
3.2 Composites market value chain analysis
3.3 Vendor landscape
3.4 Regulatory framework
3.5 Technological overview
3.6 Composites market competitive landscape
3.7 Composites market dynamics
3.7.1 Market driver analysis
3.7.2 Market restraints analysis
3.8 Composites market Porter's five forces analysis
3.9 Composites market PESTEL analysis

Chapter 4 Composites Market: Product Estimates & Trends Analysis
4.1 Global composites market value share by product, 2015 & 2024
4.2 Carbon Fiber
4.3 Glass Fiber
4.4 Others

Chapter 5 Composites Market: Resin Estimates & Trends Analysis
5.1 Global composites market volume share by resin, 2015 & 2024
5.2 Thermosetting Composites
5.3 Thermoplastic Composites

Chapter 6 Composites Market: Manufactuing Process Estimates & Trends Analysis
6.1 Global composites market value share by manufacturing process, 2015 & 2024
6.2 Layup
6.3 Filament Winding
6.4 Injection Molding
6.5 Pultrusion
6.6 Compression Molding
6.7 Resin Transfer Molding
6.8 Others

Chapter 7 Composites Market: End-use Estimates & Trends Analysis
7.1 Global composites market volume share by end-use, 2015 & 2024
7.2 Automotive & Transportation
7.3 Aerospace & Defense
7.4 Electrical & Electronics
7.5 Wind Energy
7.6 Construction & Infrastructure
7.7 Pipes & Tanks
7.8 Marine
7.9 Others

Chapter 8 Composites Market: Regional Estimates & Trends Analysis 2015 & 2024

Chapter 9 Competitive Landscape

• Teijin Limited
• Toray Industries
• Owens Corning
• PPG Industries Inc.
• Huntsman Corporation
• Cytec Industries (Solvay S.A.)
• SGL Group
• Hexcel Corporation
• Momentive Performance Materials, Inc.
• E. I. Du Pont Nemours & Co.
• Compagnie De Saint-Gobain
• Weyerhaeuser Company
• Chongqing Polycomp International Corporation
• Jushi Group Co. Ltd.

For more information about this report visit https://www.researchandmarkets.com/research/vqqg7m/composites_market?w=12

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Related Topics: Plastic Resins, Composites