Composites Market

Composites Market by Fiber Type (Glass Fiber Composites, Carbon Fiber Composites, Natural Fiber Composites), Resin Type (Thermoset Composites, Thermoplastic Composites), Manufacturing Process, End-use Industry and Region - Global Forecast to 2026

Report Code: CH 3185 Nov, 2021, by marketsandmarkets.com

[308 Pages Report] The global composites market size is projected to grow from USD 88.0 billion in 2021 to USD 126.3 billion by 2026, at a CAGR of 7.5%. The composites market is growing due to the rise in the demand from wind energy, aerospace & defense, and automotive & transportation industries.  However, owing to COVID-19, the sales of various industries has declined, resulting in reduced demand for composites.

Composites Market

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Impact of COVID-19 on global composites market

COVID-19 has negatively affected the demand for composites across the globe due to decrease in demand from various end-use industries. Aerospace & defense being one of the major consumer of composites has witnessed the most adverse and immediate consequences of the pandemic. The airline sector has faced the worst consequences due to the lockdown across international and domestic borders. This has impacted badly on the demand of composites.

Global composites market Dynamics:

Drivers: Government stimulus packages to drive the composites market post COVID-19

It is important to contain the infection to minimize the negative impact on the economy. Countries have announced various steps to contain the virus spread, support consumer spending, and spur economic activities. China, the first county affected by COVID-19, has announced a USD 180 Billion financial stimulus package for epidemic prevention, production of medical equipment, insurance disbursement, and tax relief, among others. The government has also announced USD 430 billion liquidity infusions into the banking system to support micro and small industries. Reduction in repo and report rates are other measures taken to support the business activity in the country.

Restraints: Lack of standardization in manufacturing technologies

Manufacturing and non-recurring development costs continue to limit the penetration of composites in several applications such as sporting goods, marine, and consumer goods. Design consistency, process standardization, and maintenance technology are the major issues of concern. The lack of standardization of material and methodologies compels the manufacturers to consider conservative designs, which hampers the mass production and economic performance of automobiles and aircraft. In addition, limited human resources with training and experience in composites restrain broader applications of composites

Opportunities: Increasing demand in emerging economies

Traditionally, the glass fiber and carbon fiber composites industry was concentrated in Japan, North America, and Europe. However, in recent years, there has been a significant shift toward the emerging economies in APAC and Rest of the World. For instance, the demand for glass fiber and carbon fiber composites in aerospace, wind energy, and transportation sectors has increased in the emerging economies, such as India, Brazil, and China, due to the strong demand for low-cost carriers. Countries, including China, have launched a number of research projects involving glass fiber and carbon fiber composites, and its rapid industrialization is likely to accommodate the increase in demand. Moreover, with the rapid economic growth and industrialization in the emerging nations, cyclic industries such as automotive, pipe and tanks, and construction and infrastructure are expected to grow rapidly, driving the demand for GFRP and CFRP. Further, for the upgradation, maintenance of existing infrastructure and the creation of new cities with water treatment facilities, the demand for composites in the construction & infrastructure industry as well as in pipes & tanks is expected to grow during the forecast period.

Challenges: Developing low-cost technologies

The high cost of composites has been an important point of concern associated with its increasing use in structural applications. The real potential of composites has not yet been realized owing to R&D costs, high manufacturing costs, and increased cycle times. Many applications of aerospace composites have been discovered, but due to high-cost constraints, commercialization of these applications is yet to get started. Owing to the high R&D costs, developing low-cost technologies is a major challenge for all the researchers and key manufacturers.

In terms of volume, automotive & transportation industry has the largest market share in the global composites.

The saving in weight for a given level of strength makes the use of composites vital in the automotive & transportation industry. The automotive and rail sectors are focused on reducing weight and increasing the efficiency of vehicles and exploiting more advanced materials. Due to COVID-19, automobile manufacturers across the globe are facing several challenges. The US, Japan, South Korea, Italy, Germany, and the UK were the most affected countries, which are the major automotive & transportation manufacturing countries. The majority of the automobile manufacturers has witnessed a direct impact of the pandemic situation on their 2020 revenue.

Glass fiber is the major segment of the market in terms of value and volume.

Owing to its superior attributes, such as strength, flexibility, durability, stability, low weight, and resistance to heat, temperature, and moisture, glass fiber is used for different applications in the construction, wind energy, pipes & tanks, marine, and transportation industries. It is used in different applications, such as underbody systems, deck lids, front end modules, bumper beams, engine covers instrument panels, and air ducts in the transportation industry. The demand in for glass fiber-based composites has suffered a setback due to the outbreak of COVID-19 in the major glass fiber composite manufacturing countries- India and China.

Thermoset resin is the largest segment of composites in terms of value and volume.

Thermoset dominated the composites market in the resin type segment. Thermoset composites are very durable and low on maintenance because of their rigid inter-linking molecular structure, inert chemical composition, and resistance to ultraviolet and chemical attack. However, due to COVID- 19, the demand for thermoset resins from wind energy, automotive & transportation, aerospace & defense, pipes & tanks, and other industries showed a decline.

Lay-up process accounted for the largest share in terms of value and volume

In the lay-up process, the orientation of the fibers can be controlled as needed so that they can absorb maximum stresses to which they are subjected. This is a low-cost method and has advantages such as quick deposition of fiber & resin and ease of operation. The lay-up process is mostly used for designing simple enclosures and lightly loaded structural panels. Its demand is huge from the aerospace & defense, construction & infrastructure, wind energy, and marine end-use industries. The lay-up process is further divided into three types, namely, hand lay-up, tape lay-up, and spray lay-up. Hand lay-up is the most commonly used process for manufacturing composites. It is one of the simplest processes and is used in the production of large components such as wind turbine components, concrete forms, and aircraft radomes. The lay-up process also includes the prepreg manufacturing process. The prepreg process can further be classified as hot melt process and prepreg lay-up process.

Composites Market by Region

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APAC held the largest market share in the composites market in 2020.

APAC is the major consumer of composite owing to high demand from China, Japan, India, and other countries. Major end-use industries of composites in the APAC market include construction, automotive and transportation, aerospace & defense, and wind energy among others. Advancements in technology, regulatory policies, and government norms are some of the major factors driving the composites market in APAC. However, COVID-19 pandemic reduced the demand for composites in the region.

Key Market Players

The key players in the global composites market are Owens Corning (US), Toray Industries, Inc. (Japan), Teijin Limited (Japan), Mitsubishi Chemical Holdings Corporation (Japan), Hexcel Corporation (US), SGL Group (Germany), Nippon Electrical Glass Co. Ltd. (Japan), Huntsman International LLC. (US), and Solvay (Belgium). These companies are involved in adopting various inorganic and organic strategies to increase their foothold in the composites industry. The study includes an in-depth competitive analysis of these companies in the composites market, with their company profiles, recent developments, and key market strategies.     

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Scope of the Report

Report Metric

Details

Years considered for the study 2017–2026
Base year 2020
Forecast period 2021–2026
Units considered Value (USD Million), Volume (Kiloton 
Segments Fiber Type, Resin Type, Manufacturing Process, End-use Industry and Region
Regions Europe, North America, APAC, MEA, and Latin America 
Companies Owens Corning (US), Toray Industries, Inc. (Japan), Teijin Limited (Japan), Mitsubishi Chemical Holdings Corporation (Japan), Hexcel Corporation (US), SGL Group (Germany), Nippon Electric Glass Co. Ltd. (Japan), Huntsman International LLC. (US), and Solvay (Belgium)

This research report categorizes the composites market based on fiber type, resin type, manufacturing process, end-use industry, and region.

By Fiber Type:

  • Glass Fiber Composites
  • Carbon Fiber Composites
  • Natural Fiber Composites
  • Other Fiber Composites

By Resin Type:

  • Thermoset Composites
  • Thermoplastic  Composites

By end-use industry:

  • Aerospace & defense
  • Wind Energy
  • Automotive & Transportation
  • Construction & Infrastructure
  • Marine
  • Pipe & Tank
  • Electrical & Electronics
  • Others

By Manufacturing Process:

  • Lay-up
  • Filament Winding
  • Injection Molding
  • Pultrusion
  • Compression Molding
  • RTM
  • Others

By region:

  • North America
  • Europe
  • APAC
  • MEA
  • Latin America

Recent Developments  

  • In June 2021, Solvay S.A. partnered with Italian UAM company Novotech and will be providing access to its range of thermoset and thermoplastic composites and adhesive materials. It will also provide dedicated technical support to develop the structure of its hybrid Seagull water landing aircraft's second prototype due to fly in late 2021.
  • In June 2021, Hexcel Corporation announced the successful maiden flight of a lightweight camera drone, developed using Hexcel HexPly carbon fiber prepregs. The composite drone was developed by a team of students from the University of Applied Sciences Upper Austria in Wels with composite materials supplied by Hexcel Neumarkt in Austria
  • In September 2021, Hexcel Corporation announced an expansion at its existing engineered core facility in Casablanca, Morocco, at the Midparc Free Trade Zone Industrial Park that will double the size of the plant and will lead to an increase in overall employment.
  • In May 2021, Toray Industries, Inc. developed a high thermal conductivity technology that lifts the heat-dissipating properties of carbon-fiber-reinforced plastic (CFRP) to that of metals.

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TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 36)
    1.1 OBJECTIVES OF STUDY
    1.2 MARKET DEFINITION
    1.3 INCLUSIONS & EXCLUSIONS
    1.4 MARKET SCOPE
           FIGURE 1 COMPOSITES MARKET SEGMENTATION
           1.4.1 REGIONS COVERED
           1.4.2 YEARS CONSIDERED IN STUDY
    1.5 CURRENCY
    1.6 UNIT CONSIDERED
    1.7 LIMITATIONS
    1.8 STAKEHOLDERS
    1.9 SUMMARY OF CHANGES

2 RESEARCH METHODOLOGY (Page No. - 40)
    2.1 BASE NUMBER CALCULATION
           2.1.1 APPROACH 1: SUPPLY-SIDE ANALYSIS
           2.1.2 APPROACH 2: DEMAND-SIDE APPROACH
    2.2 FORECAST NUMBER CALCULATION
           2.2.1 SUPPLY-SIDE
           2.2.2 DEMAND-SIDE
    2.3 RESEARCH DATA
           2.3.1 SECONDARY DATA
           2.3.2 PRIMARY DATA
                    2.3.2.1 Primary interviews–top composites manufacturers
                    2.3.2.2 Breakdown of primary interviews
                    2.3.2.3 Key industry insights
    2.4 MARKET SIZE ESTIMATION
           2.4.1 BOTTOM-UP APPROACH
                    FIGURE 2 COMPOSITES MARKET: BOTTOM-UP APPROACH
           2.4.2 TOP-DOWN APPROACH
                    FIGURE 3 COMPOSITES MARKET: TOP-DOWN APPROACH
    2.5 DATA TRIANGULATION
           FIGURE 4 COMPOSITES MARKET: DATA TRIANGULATION
    2.6 FACTOR ANALYSIS
    2.7 ASSUMPTIONS
    2.8 LIMITATIONS & RISKS

3 EXECUTIVE SUMMARY (Page No. - 48)
    FIGURE 5 GLASS FIBER DOMINATED GLOBAL COMPOSITES MARKET IN 2020
    FIGURE 6 THERMOSET COMPOSITES ACCOUNTED FOR LARGEST MARKET SHARE IN 2020
    FIGURE 7 LAY-UP MANUFACTURING PROCESS ACCOUNTED FOR LARGEST SHARE OF COMPOSITES MARKET IN 2020
    FIGURE 8 WIND ENERGY ACCOUNTED FOR LARGEST MARKET SHARE IN 2020
    FIGURE 9 APAC LED COMPOSITES MARKET IN 2020

4 PREMIUM INSIGHTS (Page No. - 52)
    4.1 COMPOSITES MARKET SIZE, BY VOLUME
           FIGURE 10 SIGNIFICANT GROWTH EXPECTED IN GLOBAL COMPOSITES MARKET BETWEEN 2021 AND 2026
    4.2 COMPOSITES MARKET, BY MANUFACTURING PROCESS AND REGION, 2020
           FIGURE 11 APAC WAS LARGEST MARKET AND LAY-UP WAS LARGEST MANUFACTURING PROCESS IN 2020
    4.3 COMPOSITES MARKET, BY FIBER TYPE, 2020
           FIGURE 12 GLASS FIBER COMPOSITES SEGMENT DOMINATED MARKET IN 2020
    4.4 COMPOSITES MARKET, BY RESIN TYPE, 2020
           FIGURE 13 THERMOSET COMPOSITES SEGMENT HELD LARGEST SHARE IN MARKET IN 2020
    4.5 COMPOSITES MARKET, BY END-USE INDUSTRY, 2020
           FIGURE 14 AUTOMOTIVE & TRANSPORTATION INDUSTRY DOMINATED MARKET
    4.6 COMPOSITES MARKET GROWTH, BY KEY COUNTRIES
           FIGURE 15 CHINA TO BE FASTEST-GROWING COMPOSITES MARKET, (2021–2026)

5 MARKET OVERVIEW (Page No. - 55)
    5.1 INTRODUCTION
    5.2 MARKET DYNAMICS
           FIGURE 16 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES IN COMPOSITES MARKET
           5.2.1 DRIVERS
                    5.2.1.1 Increasing demand from various applications in end-use industries
                               TABLE 1 EU: CO2 EMISSION STANDARDS FOR NEW PASSENGER CARS
                    5.2.1.2 Government stimulus packages to drive composites market post-COVID-19
                    5.2.1.3 Recovering aerospace market
                    5.2.1.4 Tax incentives to drive composites demand in wind energy
           5.2.2 RESTRAINTS
                    5.2.2.1 High processing and manufacturing cost
                    5.2.2.2 Lack of standardization in manufacturing technologies
                    5.2.2.3 Lower demand, low-capacity utilization, and liquidity crunch due to COVID-19
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Increasing demand in emerging economies
                               TABLE 2 CONTRIBUTION TO GROWTH IN GLOBAL CONSTRUCTION OUTPUT, BY COUNTRY (2019–2030)
                    5.2.3.2 High demand for environment-friendly electric vehicles
                    5.2.3.3 Growing adoption of natural composites
                    5.2.3.4 Growing penetration of natural fiber composites and carbon fiber composites in emerging applications
                    5.2.3.5 Reduction of carbon fibers cost
                    5.2.3.6 Increasing awareness of OEMs regarding strict government regulations
           5.2.4 CHALLENGES
                    5.2.4.1 Developing low-cost technologies
                    5.2.4.2 Issues related to recycling
    5.3 INDUSTRY TRENDS
           FIGURE 17 COMPOSITES MARKET: PORTER'S FIVE FORCES ANALYSIS
           5.3.1 THREAT OF NEW ENTRANTS
           5.3.2 THREAT OF SUBSTITUTES
           5.3.3 BARGAINING POWER OF BUYERS
           5.3.4 BARGAINING POWER OF SUPPLIERS
           5.3.5 INTENSITY OF COMPETITIVE RIVALRY
                    TABLE 3 COMPOSITES MARKET: PORTER'S FIVE FORCES ANALYSIS
    5.4 TECHNOLOGY ANALYSIS
           TABLE 4 COMPARATIVE STUDY OF MAJOR COMPOSITE MANUFACTURING PROCESSES
    5.5 ECOSYSTEM: COMPOSITES MARKET
    5.6 VALUE CHAIN ANALYSIS
           5.6.1 RAW MATERIALS
           5.6.2 INTERMEDIATES
           5.6.3 MOLDER
           5.6.4 OEM/ ASSEMBLY
    5.7 SUPPLY CHAIN ANALYSIS
    5.8 IMPACT OF COVID-19
           5.8.1 IMPACT OF COVID-19 ON AEROSPACE INDUSTRY
                    TABLE 5 NUMBER OF AIRPLANE DELIVERIES, BY MANUFACTURER, 2020
                    5.8.1.1 Short-term strategies to manage cost structure and supply chains
                    5.8.1.2 New opportunities
           5.8.2 IMPACT OF COVID-19 ON AUTOMOTIVE INDUSTRY
           5.8.3 SHORT-TERM STRATEGIES TO MANAGE COST STRUCTURE AND SUPPLY CHAINS
           5.8.4 IMPACT ON ELECTRIC VEHICLE (EV) DEMAND DUE TO LOWER OIL PRICES
           5.8.5 NEW OPPORTUNITIES
    5.9 IMPACT OF COVID-19 ON WIND ENERGY INDUSTRY
           5.9.1 SHORT-TERM STRATEGIES TO MANAGE COST STRUCTURE AND SUPPLY CHAINS
           5.9.2 NEW OPPORTUNITIES
    5.10 COMPOSITES MARKET: OPTIMISTIC, PESSIMISTIC, AND REALISTIC SCENARIOS
           TABLE 6 COMPOSITES MARKET: CAGR (BY VALUE) IN REALISTIC, PESSIMISTIC, AND OPTIMISTIC SCENARIOS
           5.10.1 OPTIMISTIC SCENARIO
           5.10.2 PESSIMISTIC SCENARIO
           5.10.3 REALISTIC SCENARIO
    5.11 PRICING ANALYSIS
    5.12 AVERAGE SELLING PRICE
           FIGURE 19 COMPOSITES AVERAGE SELLING PRICE, BY REGION
    5.13 KEY MARKETS FOR IMPORT/EXPORT
           5.13.1 CHINA
           5.13.2 US
           5.13.3 GERMANY
           5.13.4 FRANCE
           5.13.5 INDIA
    5.14 PATENT ANALYSIS
           5.14.1 INTRODUCTION
           5.14.2 METHODOLOGY
           5.14.3 DOCUMENT TYPE
                    TABLE 7 COMPOSITES MARKET: GLOBAL PATENTS
                    FIGURE 20 GLOBAL PATENT ANALYSIS, BY DOCUMENT TYPE
                    FIGURE 21 GLOBAL PATENT PUBLICATION TREND ANALYSIS: LAST 10 YEARS
           5.14.4 INSIGHTS
           5.14.5 LEGAL STATUS OF PATENTS
                     FIGURE 22 COMPOSITES MARKET: LEGAL STATUS OF PATENTS
           5.14.6 JURISDICTION ANALYSIS
                     FIGURE 23 GLOBAL JURISDICTION ANALYSIS
           5.14.7 TOP APPLICANTS' ANALYSIS
                    FIGURE 24 BOEING HAS HIGHEST NUMBER OF PATENTS
           5.14.8 LIST OF PATENTS, BY BOEING
           5.14.9 LIST OF PATENTS, BY NISSIN KOGYO
           5.14.10 LIST OF PATENTS BY ARKEMA FRANCE
           5.14.11 TOP 10 PATENT OWNERS (US) IN LAST 10 YEARS
    5.15 CASE STUDY ANALYSIS
    5.16 TARIFF AND REGULATIONS
           TABLE 8 CURRENT STANDARD CODES FOR AUTOMOTIVE COMPOSITES
           TABLE 9 CURRENT STANDARD CODES FOR CONSTRUCTION COMPOSITES
    5.17 IMPACT ON CUSTOMERS' BUSINESS

6 COMPOSITES MARKET, BY FIBER TYPE (Page No. - 85)
    6.1 INTRODUCTION
           FIGURE 25 GLASS FIBER COMPOSITES TO DOMINATE COMPOSITES MARKET
           TABLE 10 COMPOSITES MARKET SIZE, BY FIBER TYPE, 2017–2020 (USD MILLION)
           TABLE 11 COMPOSITES MARKET SIZE, BY FIBER TYPE, 2017–2020 (KILOTON)
           TABLE 12 COMPOSITES MARKET SIZE, BY FIBER TYPE, 2021–2026 (USD MILLION)
           TABLE 13 COMPOSITES MARKET SIZE, BY FIBER TYPE, 2021–2026 (KILOTON)
    6.2 GLASS FIBER COMPOSITES
           FIGURE 26 APAC TO BE LARGEST GLASS FIBER COMPOSITES MARKET DURING FORECASTED PERIOD
           6.2.1 GLASS FIBER COMPOSITES, BY REGION
                    TABLE 14 GLASS FIBER COMPOSITES MARKET SIZE, BY REGION, 2017–2020 (USD MILLION)
                    TABLE 15 GLASS FIBER COMPOSITES MARKET SIZE, BY REGION, 2017–2020 (KILOTON)
                    TABLE 16 GLASS FIBER COMPOSITES MARKET SIZE, BY REGION, 2021–2026 (USD MILLION)
                    TABLE 17 GLASS FIBER COMPOSITES MARKET SIZE, BY REGION, 2021–2026 (KILOTON)
    6.3 CARBON FIBER COMPOSITES
           FIGURE 27 EUROPE IS EXPECTED TO BE LARGEST CARBON FIBER COMPOSITES MARKET BY 2026
           6.3.1 CARBON FIBER COMPOSITES, BY REGION
                    TABLE 18 CARBON FIBER COMPOSITES MARKET SIZE, BY REGION, 2017–2020 (USD MILLION)
                    TABLE 19 CARBON FIBER COMPOSITES MARKET SIZE, BY REGION, 2017–2020 (KILOTON)
                    TABLE 20 CARBON FIBER COMPOSITES MARKET SIZE, BY REGION, 2021–2026 (USD MILLION)
                    TABLE 21 CARBON FIBER COMPOSITES MARKET SIZE, BY REGION, 2021–2026 (KILOTON)
    6.4 NATURAL FIBER COMPOSITES
           TABLE 22 NATURAL FIBER COMPOSITES IN AUTOMOTIVE INDUSTRY BY DIFFERENT MANUFACTURERS
           FIGURE 28 EUROPE TO BE LARGEST NATURAL FIBER COMPOSITES MARKET DURING FORECASTED YEARS
           6.4.1 NATURAL FIBER COMPOSITES, BY REGION
                    TABLE 23 NATURAL FIBER COMPOSITES MARKET SIZE, BY REGION, 2017–2020 (USD MILLION)
                    TABLE 24 NATURAL FIBER COMPOSITES MARKET SIZE, BY REGION, 2017–2020 (KILOTON)
                    TABLE 25 NATURAL FIBER COMPOSITES MARKET SIZE, BY REGION, 2021–2026 (USD MILLION)
                    TABLE 26 NATURAL FIBER COMPOSITES MARKET SIZE, BY REGION, 2021–2026 (KILOTON)
    6.5 OTHERS
           6.5.1 BASALT FIBER COMPOSITES
           6.5.2 ARAMID FIBER COMPOSITES
           6.5.3 BORON FIBER COMPOSITES
           6.5.4 HYBRID FIBER COMPOSITES
           6.5.5 ULTRA-HIGH-MOLECULAR-WEIGHT POLYETHYLENE (UHMWPE) FIBER COMPOSITES
           FIGURE 29 APAC TO BE LARGEST OTHER FIBER COMPOSITES MARKET
           6.5.6 OTHER FIBER COMPOSITES, BY REGION
           TABLE 27 OTHER FIBER COMPOSITES MARKET SIZE, BY REGION, 2017–2020 (USD MILLION)
           TABLE 28 OTHER FIBER COMPOSITES MARKET SIZE, BY REGION, 2017–2020 (KILOTON)
           TABLE 29 OTHER FIBER COMPOSITES MARKET SIZE, BY REGION, 2021–2026 (USD MILLION)
           TABLE 30 OTHER FIBER COMPOSITES MARKET SIZE, BY REGION, 2021–2026 (KILOTON)

7 COMPOSITES MARKET, BY RESIN TYPE (Page No. - 99)
    7.1 INTRODUCTION
           FIGURE 30 THERMOSET COMPOSITES TO DOMINATE COMPOSITES MARKET
           TABLE 31 COMPOSITES MARKET SIZE, BY RESIN TYPE, 2017–2020 (USD MILLION)
           TABLE 32 COMPOSITES MARKET SIZE, BY RESIN TYPE, 2017–2020 (KILOTON)
           TABLE 33 COMPOSITES MARKET SIZE, BY RESIN TYPE, 2021–2026 (USD MILLION)
           TABLE 34 COMPOSITES MARKET SIZE, BY RESIN TYPE, 2021–2026 (KILOTON)
    7.2 THERMOSET COMPOSITES
           7.2.1 EPOXY RESIN
           7.2.2 POLYESTER RESIN
           7.2.3 VINYL ESTER RESIN
           7.2.4 POLYURETHANE RESIN
           7.2.5 OTHERS
                    FIGURE 31 APAC TO BE LARGEST THERMOSET COMPOSITES MARKET
           7.2.6 THERMOSET COMPOSITES MARKET, BY REGION
                    TABLE 35 THERMOSET COMPOSITES MARKET SIZE, BY REGION, 2017–2020 (USD MILLION)
                    TABLE 36 THERMOSET COMPOSITES MARKET SIZE, BY REGION, 2017–2020 (KILOTON)
                    TABLE 37 THERMOSET COMPOSITES MARKET SIZE, BY REGION, 2021–2026 (USD MILLION)
                    TABLE 38 THERMOSET COMPOSITES MARKET SIZE, BY REGION, 2021–2026 (KILOTON)
    7.3 THERMOPLASTIC COMPOSITES
           7.3.1 POLYCARBONATES (PC)
           7.3.2 POLYPROPYLENE (PP)
           7.3.3 POLYPHENYLENE SULFIDE (PPS)
           7.3.4 POLYETHERIMIDE (PEI)
           7.3.5 POLYETHERETHERKETONE (PEEK)
           7.3.6 POLYAMIDE (PA)
           7.3.7 OTHERS
                    FIGURE 32 APAC TO BE LARGEST THERMOPLASTIC COMPOSITES MARKET
           7.3.8 THERMOPLASTIC COMPOSITES MARKET, BY REGION
                    TABLE 39 THERMOPLASTIC COMPOSITES MARKET SIZE, BY REGION, 2017–2020 (USD MILLION)
                    TABLE 40 THERMOPLASTIC COMPOSITES MARKET SIZE, BY REGION, 2017–2020 (KILOTON)
                    TABLE 41 THERMOPLASTIC COMPOSITES MARKET SIZE, BY REGION, 2021–2026 (USD MILLION)
                    TABLE 42 THERMOPLASTIC COMPOSITES MARKET SIZE, BY REGION, 2021–2026 (KILOTON)

8 COMPOSITES MARKET, BY MANUFACTURING PROCESS (Page No. - 109)
    8.1 INTRODUCTION
           FIGURE 33 LAY-UP MANUFACTURING PROCESS TO DOMINATE COMPOSITES MARKET DURING FORECAST PERIOD
           TABLE 43 COMPOSITES MARKET SIZE, BY MANUFACTURING PROCESS, 2017–2020 (USD MILLION)
           TABLE 44 COMPOSITES MARKET SIZE, BY MANUFACTURING PROCESS, 2017–2020 (KILOTON)
           TABLE 45 COMPOSITES MARKET SIZE, BY MANUFACTURING PROCESS, 2021–2026 (USD MILLION)
           TABLE 46 COMPOSITES MARKET SIZE, BY MANUFACTURING PROCESS, 2021–2026 (KILOTON)
    8.2 LAY-UP PROCESS
           FIGURE 34 APAC TO HAVE LARGEST DEMAND FOR LAY-UP PROCESS
           8.2.1 LAY-UP PROCESS: COMPOSITES MARKET, BY REGION
                    TABLE 47 LAY-UP PROCESS: COMPOSITES MARKET, BY REGION, 2017–2020 (USD MILLION)
                    TABLE 48 LAY-UP PROCESS: COMPOSITES MARKET, BY REGION, 2017–2020 (KILOTON)
                    TABLE 49 LAY-UP PROCESS: COMPOSITES MARKET, BY REGION, 2021–2026 (USD MILLION)
                    TABLE 50 LAY-UP PROCESS: COMPOSITES MARKET, BY REGION, 2021–2026 (KILOTON)
    8.3 FILAMENT WINDING PROCESS
           FIGURE 35 APAC TO HAVE LARGEST DEMAND FOR FILAMENT WINDING PROCESS DURING FORECAST PERIOD
           8.3.1 FILAMENT WINDING PROCESS: COMPOSITES MARKET, BY REGION
                    TABLE 51 FILAMENT WINDING PROCESS: COMPOSITES MARKET, BY REGION, 2017–2020 (USD MILLION)
                    TABLE 52 FILAMENT WINDING PROCESS: COMPOSITES MARKET, BY REGION, 2017–2020 (KILOTON)
                    TABLE 53 FILAMENT WINDING PROCESS: COMPOSITES MARKET, BY REGION, 2021–2026 (USD MILLION)
                    TABLE 54 FILAMENT WINDING PROCESS: COMPOSITES MARKET, BY REGION, 2021–2026 (KILOTON)
    8.4 INJECTION MOLDING PROCESS
           FIGURE 36 APAC TO BE LARGEST MARKET FOR INJECTION MOLDING PROCESS IN COMPOSITES MARKET
           8.4.1 INJECTION MOLDING PROCESS: COMPOSITES MARKET, BY REGION
                    TABLE 55 INJECTION MOLDING PROCESS: COMPOSITES MARKET, BY REGION, 2017–2020 (USD MILLION)
                    TABLE 56 INJECTION MOLDING PROCESS: COMPOSITES MARKET, BY REGION, 2017–2020 (KILOTON)
                    TABLE 57 INJECTION MOLDING PROCESS: COMPOSITES MARKET, BY REGION, 2021–2026 (USD MILLION)
                    TABLE 58 INJECTION MOLDING PROCESS: COMPOSITES MARKET, BY REGION, 2021–2026 (KILOTON)
    8.5 PULTRUSION PROCESS
           FIGURE 37 APAC TO BE LARGEST MARKET FOR PULTRUSION PROCESS IN COMPOSITES MARKET
           8.5.1 PULTRUSION PROCESS: COMPOSITES MARKET, BY REGION
                    TABLE 59 PULTRUSION PROCESS: COMPOSITES MARKET, BY REGION, 2017–2020 (USD MILLION)
                    TABLE 60 PULTRUSION PROCESS: COMPOSITES MARKET, BY REGION, 2017–2020 (KILOTON)
                    TABLE 61 PULTRUSION PROCESS: COMPOSITES MARKET, BY REGION, 2021–2026 (USD MILLION)
                    TABLE 62 PULTRUSION PROCESS: COMPOSITES MARKET, BY REGION, 2021–2026 (KILOTON)
    8.6 COMPRESSION MOLDING PROCESS
           8.6.1 COMPRESSION MOLDING PROCESS: COMPOSITES MARKET, BY REGION
                    TABLE 63 COMPRESSION MOLDING PROCESS: COMPOSITES MARKET, BY REGION, 2017–2020 (USD MILLION)
                    TABLE 64 COMPRESSION MOLDING PROCESS: COMPOSITES MARKET, BY REGION, 2017–2020 (KILOTON)
                    TABLE 65 COMPRESSION MOLDING PROCESS: COMPOSITES MARKET, BY REGION, 2021–2026 (USD MILLION)
                    TABLE 66 COMPRESSION MOLDING PROCESS: COMPOSITES MARKET, BY REGION, 2021–2026 (KILOTON)
    8.7 RESIN TRANSFER MOLDING (RTM) PROCESS
           8.7.1 RTM PROCESS: COMPOSITES MARKET, BY REGION
                    TABLE 67 RTM PROCESS: COMPOSITES MARKET, BY REGION, 2017–2020 (USD MILLION)
                    TABLE 68 RTM PROCESS: COMPOSITES MARKET, BY REGION, 2017–2020 (KILOTON)
                    TABLE 69 RTM PROCESS: COMPOSITES MARKET, BY REGION, 2021–2026 (USD MILLION)
                    TABLE 70 RTM PROCESS: COMPOSITES MARKET, BY REGION, 2021–2026 (KILOTON)
    8.8 OTHERS
           8.8.1 OTHER PROCESS: COMPOSITES MARKET, BY REGION
                    TABLE 71 OTHER PROCESS: COMPOSITES MARKET, BY REGION, 2017–2020 (USD MILLION)
                    TABLE 72 OTHER PROCESS: COMPOSITES MARKET, BY REGION, 2017–2020 (KILOTON)
                    TABLE 73 OTHER PROCESS: COMPOSITES MARKET, BY REGION, 2021–2026 (USD MILLION)
                    TABLE 74 OTHER PROCESS: COMPOSITES MARKET, BY REGION, 2021–2026 (KILOTON)

9 COMPOSITES MARKET, BY END-USE INDUSTRY (Page No. - 127)
    9.1 INTRODUCTION
           FIGURE 38 AEROSPACE & DEFENSE INDUSTRY TO DOMINATE COMPOSITES MARKET DURING FORECAST PERIOD
           TABLE 75 COMPOSITES MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION)
           TABLE 76 COMPOSITES MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (KILOTON)
           TABLE 77 COMPOSITES MARKET SIZE, BY END-USE INDUSTRY, 2021–2026 (USD MILLION)
           TABLE 78 COMPOSITES MARKET SIZE, BY END-USE INDUSTRY, 2021–2026 (KILOTON)
    9.2 AEROSPACE & DEFENSE
           9.2.1 CIVIL
           9.2.2 DEFENSE
                    TABLE 79 NUMBER OF NEW COMMERCIAL AIRPLANE DELIVERIES, BY REGION (2019–2038)
                    FIGURE 39 EUROPE TO HAVE LARGEST DEMAND FOR COMPOSITES FROM AEROSPACE & DEFENSE END-USE INDUSTRY
           9.2.3 COMPOSITES MARKET SIZE IN AEROSPACE & DEFENSE END-USE INDUSTRY, BY REGION
                    TABLE 80 COMPOSITES MARKET SIZE IN AEROSPACE & DEFENSE END-USE INDUSTRY, BY REGION, 2017–2020 (USD MILLION)
                    TABLE 81 COMPOSITES MARKET SIZE IN AEROSPACE & DEFENSE END-USE INDUSTRY, BY REGION, 2017–2020 (KILOTON)
                    TABLE 82 COMPOSITES MARKET SIZE IN AEROSPACE & DEFENSE END-USE INDUSTRY, BY REGION, 2021–2026 (USD MILLION)
                    TABLE 83 COMPOSITES MARKET SIZE IN AEROSPACE & DEFENSE END-USE INDUSTRY, BY REGION, 2021–2026 (KILOTON)
    9.3 WIND ENERGY
           FIGURE 40 APAC TO HAVE LARGEST DEMAND FROM WIND ENERGY INDUSTRY
           9.3.1 COMPOSITES MARKET SIZE IN WIND ENERGY END-USE INDUSTRY, BY REGION
                    TABLE 84 COMPOSITES MARKET SIZE IN WIND ENERGY END-USE INDUSTRY, BY REGION, 2017–2020 (USD MILLION)
                    TABLE 85 COMPOSITES MARKET SIZE IN WIND ENERGY END-USE INDUSTRY, BY REGION, 2017–2020 (KILOTON)
                    TABLE 86 COMPOSITES MARKET SIZE IN WIND ENERGY END-USE INDUSTRY, BY REGION, 2021–2026 (USD MILLION)
                    TABLE 87 COMPOSITES MARKET SIZE IN WIND ENERGY END-USE INDUSTRY, BY REGION, 2021–2026 (KILOTON)
    9.4 AUTOMOTIVE & TRANSPORTATION
           TABLE 88 COST BENEFITS OF COMPOSITE PARTS VS STEEL PARTS
           9.4.1 AUTOMOTIVE
           9.4.2 RECREATIONAL VEHICLES
           9.4.3 BUS, TRUCKS, AND OTHER HEAVY VEHICLES
           9.4.4 METROS AND MONORAILS
           9.4.5 PASSENGER RAILS
           9.4.6 HIGH SPEED AND BULLET TRAINS
                    FIGURE 41 EUROPE TO LEAD COMPOSITES MARKET IN AUTOMOTIVE & TRANSPORTATION INDUSTRY
           9.4.7 COMPOSITES MARKET SIZE IN AUTOMOTIVE & TRANSPORTATION END-USE INDUSTRY, BY REGION
                    TABLE 89 COMPOSITES MARKET SIZE IN AUTOMOTIVE & TRANSPORTATION END-USE INDUSTRY, BY REGION, 2017–2020 (USD MILLION)
                    TABLE 90 COMPOSITES MARKET SIZE IN AUTOMOTIVE & TRANSPORTATION END-USE INDUSTRY, BY REGION, 2017–2020 (KILOTON)
                    TABLE 91 COMPOSITES MARKET SIZE IN AUTOMOTIVE & TRANSPORTATION END-USE INDUSTRY, BY REGION, 2021–2026 (USD MILLION)
                    TABLE 92 COMPOSITES MARKET SIZE IN AUTOMOTIVE & TRANSPORTATION END-USE INDUSTRY, BY REGION, 2021–2026 (KILOTON)
    9.5 CONSTRUCTION & INFRASTRUCTURE
                    FIGURE 42 APAC TO BE LARGEST MARKET COMPOSITES IN CONSTRUCTION & INFRASTRUCTURE END-USE INDUSTRY
           9.5.1 COMPOSITES MARKET SIZE IN CONSTRUCTION & INFRASTRUCTURE END-USE INDUSTRY, BY REGION
                    TABLE 93 COMPOSITES MARKET SIZE IN CONSTRUCTION & INFRASTRUCTURE END-USE INDUSTRY, BY REGION, 2017–2020 (USD MILLION)
                    TABLE 94 COMPOSITES MARKET SIZE IN CONSTRUCTION & INFRASTRUCTURE END-USE INDUSTRY, BY REGION, 2017–2020 (KILOTON)
                    TABLE 95 COMPOSITES MARKET SIZE IN CONSTRUCTION & INFRASTRUCTURE END-USE INDUSTRY, BY REGION, 2021–2026 (USD MILLION)
                    TABLE 96 COMPOSITES MARKET SIZE IN CONSTRUCTION & INFRASTRUCTURE END-USE INDUSTRY, BY REGION, 2021–2026 (KILOTON)
    9.6 PIPES & TANKS
           9.6.1 COMPOSITES MARKET SIZE IN PIPES & TANKS END-USE INDUSTRY, BY REGION
                    TABLE 97 COMP COMPOSITES MARKET SIZE IN PIPES & TANKS END-USE INDUSTRY, BY REGION, 2017–2020 (USD MILLION)
                    TABLE 98 COMPOSITES MARKET SIZE IN PIPES & TANKS END-USE INDUSTRY, BY REGION, 2017–2020 (KILOTON)
                    TABLE 99 COMPOSITES MARKET SIZE IN PIPES & TANKS END-USE INDUSTRY, BY REGION, 2021–2026 (USD MILLION)
                    TABLE 100 COMPOSITES MARKET SIZE IN PIPES & TANKS END-USE INDUSTRY, BY REGION, 2021–2026 (KILOTON)
    9.7 MARINE
           9.7.1 POWERBOAT
           9.7.2 SAILBOAT
           9.7.3 CRUISE SHIP
           9.7.4 OTHERS
           9.7.5 COMPOSITES MARKET SIZE IN MARINE END-USE INDUSTRY, BY REGION
                    TABLE 101 COMPOSITES MARKET SIZE IN MARINE END-USE INDUSTRY, BY REGION, 2017–2020 (USD MILLION)
                    TABLE 102 COMPOSITES MARKET SIZE IN MARINE END-USE INDUSTRY, BY REGION, 2017–2020 (KILOTON)
                    TABLE 103 COMPOSITES MARKET SIZE IN MARINE END-USE INDUSTRY, BY REGION, 2021–2026 (USD MILLION)
                    TABLE 104 COMPOSITES MARKET SIZE IN MARINE END-USE INDUSTRY, BY REGION, 2021–2026 (KILOTON)
    9.8 ELECTRICAL & ELECTRONICS
           9.8.1 COMPOSITES MARKET SIZE IN ELECTRICAL & ELECTRONICS END-USE INDUSTRY, BY REGION
                    TABLE 105 COMPOSITES MARKET SIZE IN ELECTRICAL & ELECTRONICS END-USE INDUSTRY, BY REGION, 2017–2020 (USD MILLION)
                    TABLE 106 COMPOSITES MARKET SIZE IN ELECTRICAL & ELECTRONICS END-USE INDUSTRY, BY REGION, 2017–2020 (KILOTON)
                    TABLE 107 COMPOSITES MARKET SIZE IN ELECTRICAL & ELECTRONICS END-USE INDUSTRY, BY REGION, 2021–2026 (USD MILLION)
                    TABLE 108 COMPOSITES MARKET SIZE IN ELECTRICAL & ELECTRONICS END-USE INDUSTRY, BY REGION, 2021–2026 (KILOTON)
    9.9 OTHERS
           9.9.1 INDUSTRIAL
           9.9.2 HEALTHCARE
           9.9.3 SPORTING GOODS
           9.9.4 COMPOSITES MARKET SIZE IN OTHER END-USE INDUSTRIES, BY REGION
                    TABLE 109 COMPOSITES MARKET SIZE IN OTHER END-USE INDUSTRIES, BY REGION, 2017–2020 (USD MILLION)
                    TABLE 110 COMPOSITES MARKET SIZE IN OTHER END-USE INDUSTRIES, BY REGION, 2017–2020 (KILOTON)
                    TABLE 111 COMPOSITES MARKET SIZE IN OTHER END-USE INDUSTRIES, BY REGION, 2021–2026 (USD MILLION)
                    TABLE 112 COMPOSITES MARKET SIZE IN OTHER END-USE INDUSTRY, BY REGION, 2021–2026 (KILOTON)

10 COMPOSITES MARKET, BY REGION (Page No. - 153)
     10.1 INTRODUCTION
             FIGURE 43 CHINA TO BE FASTEST-GROWING COMPOSITES MARKET DURING FORECAST PERIOD
             TABLE 113 COMPOSITES MARKET SIZE, BY REGION, 2017–2020 (USD MILLION)
             TABLE 114 COMPOSITES MARKET SIZE, BY REGION, 2017–2020 (KILOTON)
             TABLE 115 COMPOSITES MARKET SIZE, BY REGION, 2021–2026 (USD MILLION)
             TABLE 116 COMPOSITES MARKET SIZE, BY REGION, 2021–2026 (KILOTON)
     10.2 NORTH AMERICA
           FIGURE 44 NORTH AMERICA: COMPOSITES MARKET SNAPSHOT
             10.2.1 NORTH AMERICA: COMPOSITES MARKET, BY FIBER TYPE
                        TABLE 117 NORTH AMERICA: COMPOSITES MARKET, BY FIBER TYPE, 2017–2020 (USD MILLION)
                        TABLE 118 NORTH AMERICA: COMPOSITES MARKET, BY FIBER TYPE, 2017–2020 (KILOTON)
                        TABLE 119 NORTH AMERICA: COMPOSITES MARKET, BY FIBER TYPE, 2021–2026 (USD MILLION)
                        TABLE 120 NORTH AMERICA: COMPOSITES MARKET, BY FIBER TYPE, 2021–2026 (KILOTON)
             10.2.2 NORTH AMERICA: COMPOSITES MARKET, BY MANUFACTURING PROCESS
                        TABLE 121 NORTH AMERICA: COMPOSITES MARKET, BY MANUFACTURING PROCESS, 2017–2020 (USD MILLION)
                        TABLE 122 NORTH AMERICA: COMPOSITES MARKET, BY MANUFACTURING PROCESS, 2017–2020 (KILOTON)
                        TABLE 123 NORTH AMERICA: COMPOSITES MARKET, BY MANUFACTURING PROCESS, 2021–2026 (USD MILLION)
                        TABLE 124 NORTH AMERICA: COMPOSITES MARKET, BY MANUFACTURING PROCESS, 2021–2026 (KILOTON)
             10.2.3 NORTH AMERICA: COMPOSITES MARKET, BY RESIN TYPE
                        TABLE 125 NORTH AMERICA: COMPOSITES MARKET, BY RESIN TYPE, 2017–2020 (USD MILLION)
                        TABLE 126 NORTH AMERICA: COMPOSITES MARKET, BY RESIN TYPE, 2017–2020 (KILOTON)
                        TABLE 127 NORTH AMERICA: COMPOSITES MARKET, BY RESIN TYPE, 2021–2026 (USD MILLION)
                        TABLE 128 NORTH AMERICA: COMPOSITES MARKET, BY RESIN TYPE, 2021–2026 (KILOTON)
             10.2.4 NORTH AMERICA: COMPOSITES MARKET, BY END-USE INDUSTRY
                        TABLE 129 NORTH AMERICA: COMPOSITES MARKET, BY END-USE INDUSTRY, 2017–2020 (USD MILLION)
                        TABLE 130 NORTH AMERICA: COMPOSITES MARKET, BY END-USE INDUSTRY, 2017–2020 (KILOTON)
                        TABLE 131 NORTH AMERICA: COMPOSITES MARKET, BY END-USE INDUSTRY, 2021–2026 (USD MILLION)
                        TABLE 132 NORTH AMERICA: COMPOSITES MARKET, BY END-USE INDUSTRY, 2021–2026 (KILOTON)
             10.2.5 NORTH AMERICA: COMPOSITES MARKET, BY COUNTRY
                        TABLE 133 NORTH AMERICA: COMPOSITES MARKET, BY COUNTRY, 2017–2020 (USD MILLION)
                        TABLE 134 NORTH AMERICA: COMPOSITES MARKET, BY COUNTRY, 2017–2020 (KILOTON)
                        TABLE 135 NORTH AMERICA: COMPOSITES MARKET, BY COUNTRY, 2021–2026 (USD MILLION)
                        TABLE 136 NORTH AMERICA: COMPOSITES MARKET, BY COUNTRY, 2021–2026 (KILOTON)
                        10.2.5.1 US
                                     TABLE 137 US: NEW WIND ENERGY INSTALLATIONS, 2010–2019 (MW)
                        10.2.5.2 Canada
     10.3 EUROPE
             FIGURE 45 EUROPE: COMPOSITES MARKET SNAPSHOT
             10.3.1 EUROPE: COMPOSITES MARKET, BY FIBER TYPE
                        TABLE 138 EUROPE: COMPOSITES MARKET, BY FIBER TYPE, 2017–2020 (USD MILLION)
                        TABLE 139 EUROPE: COMPOSITES MARKET, BY FIBER TYPE, 2017–2020 (KILOTON)
                        TABLE 140 EUROPE: COMPOSITES MARKET, BY FIBER TYPE, 2021–2026 (USD MILLION)
                        TABLE 141 EUROPE: COMPOSITES MARKET, BY FIBER TYPE, 2021–2026 (KILOTON)
             10.3.2 EUROPE: COMPOSITES MARKET, BY MANUFACTURING PROCESS
                        TABLE 142 EUROPE: COMPOSITES MARKET, BY MANUFACTURING PROCESS, 2017–2020 (USD MILLION)
                        TABLE 143 EUROPE: COMPOSITES MARKET, BY MANUFACTURING PROCESS, 2017–2020 (KILOTON)
                        TABLE 144 EUROPE: COMPOSITES MARKET, BY MANUFACTURING PROCESS, 2021–2026 (USD MILLION)
                        TABLE 145 EUROPE: COMPOSITES MARKET, BY MANUFACTURING PROCESS, 2021–2026 (KILOTON)
             10.3.3 EUROPE: COMPOSITES MARKET, BY RESIN TYPE
                        TABLE 146 EUROPE: COMPOSITES MARKET, BY RESIN TYPE, 2017–2020 (USD MILLION)
                        TABLE 147 EUROPE: COMPOSITES MARKET, BY RESIN TYPE, 2017–2020 (KILOTON)
                        TABLE 148 EUROPE: COMPOSITES MARKET, BY RESIN TYPE, 2021–2026 (USD MILLION)
                        TABLE 149 EUROPE: COMPOSITES MARKET, BY RESIN TYPE, 2021–2026 (KILOTON)
             10.3.4 EUROPE: COMPOSITES MARKET, BY END-USE INDUSTRY
                        TABLE 150 EUROPE: COMPOSITES MARKET, BY END-USE INDUSTRY, 2017–2020 (USD MILLION)
                        TABLE 151 EUROPE: COMPOSITES MARKET, BY END-USE INDUSTRY, 2017–2020 (KILOTON)
                        TABLE 152 EUROPE: COMPOSITES MARKET, BY END-USE INDUSTRY, 2021–2026 (USD MILLION)
                        TABLE 153 EUROPE: COMPOSITES MARKET, BY END-USE INDUSTRY, 2021–2026 (KILOTON)
             10.3.5 EUROPE: COMPOSITES MARKET, BY COUNTRY
                        TABLE 154 EUROPE: COMPOSITES MARKET, BY COUNTRY, 2017–2020 (USD MILLION)
                        TABLE 155 EUROPE: COMPOSITES MARKET, BY COUNTRY, 2017–2020 (KILOTON)
                        TABLE 156 EUROPE: COMPOSITES MARKET, BY COUNTRY, 2021–2026 (USD MILLION)
                        TABLE 157 EUROPE: COMPOSITES MARKET, BY COUNTRY, 2021–2026 (KILOTON)
                        10.3.5.1 Germany
                                     TABLE 158 GERMANY: NEW WIND ENERGY INSTALLATIONS, 2010–2020 (MW)
                        10.3.5.2 France
                        10.3.5.3 UK
                        10.3.5.4 Italy
                        10.3.5.5 Spain
                        10.3.5.6 Russia
                                     TABLE 159 RUSSIA: COMPOSITES MARKET, BY END-USE INDUSTRY, 2017–2020 (USD MILLION)
                                     TABLE 160 RUSSIA: COMPOSITES MARKET, BY END-USE INDUSTRY, 2017–2020 (KILOTON)
                                     TABLE 161 RUSSIA: COMPOSITES MARKET, BY END-USE INDUSTRY, 2021–2026 (USD MILLION)
                                     TABLE 162 RUSSIA: COMPOSITES MARKET, BY END-USE INDUSTRY, 2021–2026 (KILOTON)
                        10.3.5.7 Rest of Europe
     10.4 APAC
             FIGURE 46 APAC: COMPOSITES MARKET SNAPSHOT
             10.4.1 APAC: COMPOSITES MARKET, BY FIBER TYPE
                        TABLE 163 APAC: COMPOSITES MARKET, BY FIBER TYPE, 2017–2020 (USD MILLION)
                        TABLE 164 APAC: COMPOSITES MARKET, BY FIBER TYPE, 2017–2020 (KILOTON)
                        TABLE 165 APAC: COMPOSITES MARKET, BY FIBER TYPE, 2021–2026 (USD MILLION)
                        TABLE 166 APAC: COMPOSITES MARKET, BY FIBER TYPE, 2021–2026 (KILOTON)
             10.4.2 APAC: COMPOSITES MARKET, BY MANUFACTURING PROCESS
                        TABLE 167 APAC: COMPOSITES MARKET, BY MANUFACTURING PROCESS, 2017–2020 (USD MILLION)
                        TABLE 168 APAC: COMPOSITES MARKET, BY MANUFACTURING PROCESS, 2017–2020 (KILOTON)
                        TABLE 169 APAC: COMPOSITES MARKET, BY MANUFACTURING PROCESS, 2021–2026 (USD MILLION)
                        TABLE 170 APAC: COMPOSITES MARKET, BY MANUFACTURING PROCESS, 2021–2026 (KILOTON)
             10.4.3 APAC: COMPOSITES MARKET, BY RESIN TYPE
                        TABLE 171 APAC: COMPOSITES MARKET, BY RESIN TYPE, 2017–2020 (USD MILLION)
                        TABLE 172 APAC: COMPOSITES MARKET, BY RESIN TYPE, 2017–2020 (KILOTON)
                        TABLE 173 APAC: COMPOSITES MARKET, BY RESIN TYPE, 2021–2026 (USD MILLION)
                        TABLE 174 APAC: COMPOSITES MARKET, BY RESIN TYPE, 2021–2026 (KILOTON)
             10.4.4 APAC: COMPOSITES MARKET, BY END-USE INDUSTRY
                        TABLE 175 APAC: COMPOSITES MARKET, BY END-USE INDUSTRY, 2017–2020 (USD MILLION)
                        TABLE 176 APAC: COMPOSITES MARKET, BY END-USE INDUSTRY, 2017–2020 (KILOTON)
                        TABLE 177 APAC: COMPOSITES MARKET, BY END-USE INDUSTRY, 2021–2026 (USD MILLION)
                        TABLE 178 APAC: COMPOSITES MARKET, BY END-USE INDUSTRY, 2021–2026 (KILOTON)
             10.4.5 APAC: COMPOSITES MARKET, BY COUNTRY
                        TABLE 179 APAC: COMPOSITES MARKET, BY COUNTRY, 2017–2020 (USD MILLION)
                        TABLE 180 APAC: COMPOSITES MARKET, BY COUNTRY, 2017–2020 (KILOTON)
                        TABLE 181 APAC: COMPOSITES MARKET, BY COUNTRY, 2021–2026 (USD MILLION)
                        TABLE 182 APAC: COMPOSITES MARKET, BY COUNTRY, 2021–2026 (KILOTON)
                        10.4.5.1 China
                                     TABLE 183 CHINA: NEW WIND ENERGY INSTALLATIONS, 2010–2019 (MW)
                        10.4.5.2 Japan
                        10.4.5.3 India
                        10.4.5.4 South Korea
                        10.4.5.5 Rest of APAC
     10.5 MIDDLE EAST & AFRICA
             10.5.1 MEA: COMPOSITES MARKET, BY FIBER TYPE
                        TABLE 184 MEA: COMPOSITES MARKET, BY FIBER TYPE, 2017–2020 (USD MILLION)
                        TABLE 185 MEA: COMPOSITES MARKET, BY FIBER TYPE, 2017–2020 (KILOTON)
                        TABLE 186 MEA: COMPOSITES MARKET, BY FIBER TYPE, 2021–2026 (USD MILLION)
                        TABLE 187 MEA: COMPOSITES MARKET, BY FIBER TYPE, 2021–2026 (KILOTON)
             10.5.2 MEA: COMPOSITES MARKET, BY MANUFACTURING PROCESS
                        TABLE 188 MEA: COMPOSITES MARKET, BY MANUFACTURING PROCESS, 2017–2020 (USD MILLION)
                        TABLE 189 MEA: COMPOSITES MARKET, BY MANUFACTURING PROCESS, 2017–2020 (KILOTON)
                        TABLE 190 MEA: COMPOSITES MARKET, BY MANUFACTURING PROCESS, 2021–2026 (USD MILLION)
                        TABLE 191 MEA: COMPOSITES MARKET, BY MANUFACTURING PROCESS, 2021–2026 (KILOTON)
             10.5.3 MEA: COMPOSITES MARKET, BY END-USE INDUSTRY
                        TABLE 192 MEA: COMPOSITES MARKET, BY END-USE INDUSTRY, 2017–2020 (USD MILLION)
                        TABLE 193 MEA: COMPOSITES MARKET, BY END-USE INDUSTRY, 2017–2020 (KILOTON)
                        TABLE 194 MEA: COMPOSITES MARKET, BY END-USE INDUSTRY, 2021–2026 (USD MILLION)
                        TABLE 195 MEA: COMPOSITES MARKET, BY END-USE INDUSTRY, 2021–2026 (KILOTON)
             10.5.4 MEA: COMPOSITES MARKET, BY COUNTRY
                        TABLE 196 MEA: COMPOSITES MARKET, BY COUNTRY, 2017–2020 (USD MILLION)
                        TABLE 197 MEA: COMPOSITES MARKET, BY COUNTRY, 2017–2020 (KILOTON)
                        TABLE 198 MEA: COMPOSITES MARKET, BY COUNTRY, 2021–2026 (USD MILLION)
                        TABLE 199 MEA: COMPOSITES MARKET, BY COUNTRY, 2021–2026 (KILOTON)
                        10.5.4.1 UAE
                        10.5.4.2 Saudi Arabia
                        10.5.4.3 UK
                        10.5.4.4 Rest of MEA
     10.6 LATIN AMERICA
             10.6.1 LATIN AMERICA: COMPOSITES MARKET, BY FIBER TYPE
                        TABLE 200 LATIN AMERICA: COMPOSITES MARKET, BY FIBER TYPE, 2017–2020 (USD MILLION)
                        TABLE 201 LATIN AMERICA: COMPOSITES MARKET, BY FIBER TYPE, 2017–2020 (KILOTON)
                        TABLE 202 LATIN AMERICA: COMPOSITES MARKET, BY FIBER TYPE, 2021–2026 (USD MILLION)
                        TABLE 203 LATIN AMERICA: COMPOSITES MARKET, BY FIBER TYPE, 2021–2026 (KILOTON)
             10.6.2 LATIN AMERICA: COMPOSITES MARKET, BY MANUFACTURING PROCESS
                        TABLE 204 LATIN AMERICA: COMPOSITES MARKET, BY MANUFACTURING PROCESS, 2017–2020 (USD MILLION)
                        TABLE 205 LATIN AMERICA: COMPOSITES MARKET, BY MANUFACTURING PROCESS, 2017–2020 (KILOTON)
                        TABLE 206 LATIN AMERICA: COMPOSITES MARKET, BY MANUFACTURING PROCESS, 2021–2026 (USD MILLION)
                        TABLE 207 LATIN AMERICA: COMPOSITES MARKET, BY MANUFACTURING PROCESS, 2021–2026 (KILOTON)
             10.6.3 LATIN AMERICA: COMPOSITES MARKET, BY END-USE INDUSTRY
                        TABLE 208 LATIN AMERICA: COMPOSITES MARKET, BY END-USE INDUSTRY, 2017–2020 (USD MILLION)
                        TABLE 209 LATIN AMERICA: COMPOSITES MARKET, BY END-USE INDUSTRY, 2017–2020 (KILOTON)
                        TABLE 210 LATIN AMERICA: COMPOSITES MARKET, BY END-USE INDUSTRY, 2021–2026 (USD MILLION)
                        TABLE 211 LATIN AMERICA: COMPOSITES MARKET, BY END-USE INDUSTRY, 2021–2026 (KILOTON)
             10.6.4 LATIN AMERICA: COMPOSITES MARKET, BY COUNTRY
                        TABLE 212 LATIN AMERICA: COMPOSITES MARKET, BY COUNTRY, 2017–2020 (USD MILLION)
                        TABLE 213 LATIN AMERICA: COMPOSITES MARKET, BY COUNTRY, 2017–2020 (KILOTON)
                        TABLE 214 LATIN AMERICA: COMPOSITES MARKET, BY COUNTRY, 2021–2026 (USD MILLION)
                        TABLE 215 LATIN AMERICA: COMPOSITES MARKET, BY COUNTRY, 2021–2026 (KILOTON)
                        10.6.4.1 Brazil
                        10.6.4.2 Mexico
                        10.6.4.3 Rest of Latin America

11 COMPETITIVE LANDSCAPE (Page No. - 202)
     11.1 INTRODUCTION
     11.2 MARKET SHARE ANALYSIS
             FIGURE 47 MARKET SHARE OF TOP COMPANIES IN COMPOSITES MARKET
             TABLE 216 DEGREE OF COMPETITION: COMPOSITES MARKET
     11.3 MARKET RANKING
             FIGURE 48 RANKING OF TOP FIVE PLAYERS IN THE COMPOSITES MARKET
     11.4 MARKET EVALUATION FRAMEWORK
             TABLE 217 COMPOSITES MARKET: DEALS, 2016–2021
             TABLE 218 COMPOSITES MARKET: OTHERS, 2016–2021
             TABLE 219 COMPOSITES MARKET: NEW PRODUCT DEVELOPMENT, 2016–2021
     11.5 REVENUE ANALYSIS OF TOP MARKET PLAYERS
     11.6 COMPANY EVALUATION MATRIX
             TABLE 220 COMPANY PRODUCT FOOTPRINT
             FIGURE 49 COMPANY END-USE INDUSTRY FOOTPRINT
             TABLE 221 COMPANY REGION FOOTPRINT
             11.6.1 STAR
             11.6.2 PERVASIVE
             11.6.3 PARTICIPANTS
             11.6.4 EMERGING LEADERS
                        FIGURE 50 COMPOSITES MARKET (GLOBAL): COMPETITIVE LEADERSHIP MAPPING, 2020
             11.6.5 STRENGTH OF PRODUCT PORTFOLIO
                        FIGURE 51 PRODUCT PORTFOLIO ANALYSIS OF TOP PLAYERS IN COMPOSITES MARKET
             11.6.6 BUSINESS STRATEGY EXCELLENCE
                        FIGURE 52 BUSINESS STRATEGY EXCELLENCE OF TOP PLAYERS IN THE COMPOSITES MARKET
     11.7 START-UP/ SMALL AND MEDIUM-SIZED ENTERPRISES (SME) EVALUATION MATRIX
             11.7.1 PROGRESSIVE COMPANIES
             11.7.2 RESPONSIVE COMPANIES
             11.7.3 DYNAMIC COMPANIES
             11.7.4 STARTING BLOCKS
                        FIGURE 53 COMPOSITES MARKET: SMALL AND MEDIUM-SIZED ENTERPRISES MAPPING, 2020

12 COMPANY PROFILES (Page No. - 233)
     12.1 KEY COMPANIES (Business Overview, Products Offered, Deal, Other developments, MnM view, Key strengths/right to win, Strategic choices made, Weakness/competitive threats)* 
             12.1.1 OWENS CORNING
                        TABLE 222 OWENS CORNING: COMPANY OVERVIEW
             12.1.2 TORAY INDUSTRIES, INC.
                        TABLE 223 TORAY INDUSTRIES, INC.: COMPANY OVERVIEW
                        FIGURE 55 TORAY INDUSTRIES, INC.: COMPANY SNAPSHOT
             12.1.3 MITSUBISHI CHEMICAL HOLDINGS CORPORATION
                        TABLE 224 MITSUBISHI CHEMICAL HOLDINGS CORPORATION: COMPANY OVERVIEW
                        FIGURE 56 MITSUBISHI CHEMICAL HOLDINGS CORPORATION: COMPANY SNAPSHOT
             12.1.4 SOLVAY S.A.
                        TABLE 225 SOLVAY S.A.: COMPANY OVERVIEW
                        FIGURE 57 SOLVAY S.A.: COMPANY SNAPSHOT
             12.1.5 TEIJIN LIMITED
                        TABLE 226 TEIJIN LIMITED: COMPANY OVERVIEW
                        FIGURE 58 TEIJIN LIMITED: COMPANY SNAPSHOT
             12.1.6 SGL CARBON SE
                        TABLE 227 SGL CARBON SE: COMPANY OVERVIEWS
             12.1.7 HEXCEL CORPORATION
                        TABLE 228 HEXCEL CORPORATION: COMPANY OVERVIEW
                        FIGURE 60 HEXCEL CORPORATION: COMPANY SNAPSHOT
             12.1.8 NIPPON ELECTRIC GLASS CO., LTD.
                        TABLE 229 NIPPON ELECTRIC GLASS CO., LTD.: COMPANY OVERVIEW
                        FIGURE 61 NIPPON ELECTRIC GLASS CO., LTD.: COMPANY SNAPSHOT
             12.1.9 HUNTSMAN INTERNATIONAL LLC
                        TABLE 230 HUNTSMAN INTERNATIONAL LLC: COMPANY OVERVIEW
                        FIGURE 62 HUNTSMAN INTERNATIONAL LLC: COMPANY SNAPSHOT
             12.1.10 HEXION
                        TABLE 231 HEXION: BUSINESS OVERVIEW
                        FIGURE 63 HEXION: COMPANY SNAPSHOT
             12.1.11 GURIT HOLDING AG
                        TABLE 232 GURIT HOLDING AG: COMPANY OVERVIEW
                        FIGURE 64 GURIT HOLDING AG: COMPANY SNAPSHOT
             12.1.12 WEYERHAEUSER COMPANY
                        TABLE 233 WEYERHAEUSER COMPANY: COMPANYOVERVIEW
                        FIGURE 65 WEYERHAEUSER COMPANY: COMPANY SNAPSHOT
             12.1.13 JUSHI GROUP CO., LTD.
                        TABLE 234 JUSHI GROUP CO., LTD.: COMPANY OVERVIEW
             12.1.14 CHONGQING POLYCOMP INTERNATIONAL CORPORATION
                        TABLE 235 CHONGQING POLYCOMP INTERNATIONAL CORPORATION: COMPANY BUSINESS OVERVIEW
             12.1.15 TAISHAN FIBERGLASS INC.(CTG)
                        TABLE 236 TAISHAN FIBERGLASS INC. (CTG): COMPANY OVERVIEW
     12.2 OTHER KEY PLAYERS
             12.2.1 BASF SE
             12.2.2 DOWAKSA
             12.2.3 HONEYWELL INTERNATIONAL INC.
             12.2.4 RENEGADE MATERIALS CORPORATION
             12.2.5 KINECO KAMAN COMPOSITES – INDIA PRIVATE LIMITED
             12.2.6 HENKEL AG & CO. KGAA
             12.2.7 UPM BIOCOMPOSITES
             12.2.8 TREX COMPANY, INC.
             12.2.9 GAFFCO BALLISTICS
             12.2.10 BINANI INDUSTRIES LTD.
*Details on Business Overview, Products Offered, Deal, Other developments, MnM view, Key strengths/right to win, Strategic choices made, Weakness/competitive threats might not be captured in case of unlisted companies. 

13 APPENDIX (Page No. - 304)
     13.1 DISCUSSION GUIDE
     13.2 AVAILABLE CUSTOMIZATIONS
     13.3 RELATED REPORT
     13.4 AUTHOR DETAILS

The study involved two major activities in estimating the current size of the composites market. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both the top-down and bottom-up approaches were employed to estimate the total market size. After that, market breakdown and data triangulation procedures were used to determine the extent of market segments and sub-segments.

Secondary Research

In the secondary research process, various secondary sources such as Hoovers, Bloomberg BusinessWeek, and Factiva were referred to, to identify and collect information for this study. These secondary sources included annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, gold standard & silver standard websites, regulatory bodies, trade directories, and databases.

Primary Research

The composites market comprises several stakeholders, such as raw material suppliers, processors, end-product manufacturers, and regulatory organizations in the supply chain. The demand side of this market is characterized by the development of mainly the transportation, wind energy, aerospace & defense, construction & infrastructure end-use industries. Advancements in technology and diverse applications in various end-use industries describe the supply side. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information.

Composites Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both the top-down and bottom-up approaches were used to estimate and validate the total composites market. These methods were also used extensively to determine the size of various sub-segments in the market. The research methodology used to estimate the market size included the following:

  • The key players in the industry and markets were identified through extensive secondary research.
  • The industry’s supply chain and market size, in terms of value, were determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.

Data Triangulation

After arriving at the overall composites market size using the market size estimation processes as explained above, the market was split into several segments and sub-segments. To complete the whole market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides, mainly from the automotive & transportation, wind energy, aerospace & defense, construction & infrastructure end-use industries.

Report Objectives

  • To define, describe, and forecast the size of the composites market, in terms of value and volume
  • To provide detailed information about the key factors (drivers, restraints, opportunities, and challenges) influencing the growth of the market
  • To analyze and forecast the market based on resin type, fiber type, manufacturing process, and end-use industry
  • To analyze and project the market based on five regions, namely, Europe, North America, Asia Pacific (APAC), the Middle East & Africa (MEA), and Latin America
  • To strategically analyze the micromarkets concerning individual growth trends, prospects, and their contribution to the overall market
  • To analyze the opportunities in the market for stakeholders and provide a competitive landscape for market leaders
  • To strategically profile the key players and comprehensively analyze their market shares and core competencies

Available Customizations

 MarketsandMarkets offers customizations according to the specific needs of the companies with the given market data.
The following customization options are available for the report:

Product Analysis

  • Product matrix, which gives a detailed comparison of the product portfolio of each company

Regional Analysis

  • Further breakdown of Rest of APAC composites market
  • Further breakdown of Rest of Europe composites market
  • Further breakdown of Rest of NA composites market
  • Further breakdown of Rest of MEA composites market
  • Further breakdown of Rest of Latin American composites market

Company Information

  • Detailed analysis and profiling of additional market players (up to 10)
COVID-19

Get in-depth analysis of the COVID-19 impact on the Composites Market

Benchmarking the rapid strategy shifts of the Top 100 companies in the Composites Market

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CH 3185
Published ON
Nov, 2021
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