Composites Market to See a Growth of 7.04% CAGR to 2021 Led by Aerospace & Defense Application

The global market for composites is to grow at a CAGR of 7.04% to 2021. The report estimates the market size and future growth potential of composites market across different segments such as fiber type, resin type, manufacturing process, application, and region.

The global market for composites is to grow from USD 69.50 billion in 2015 to USD 105.26 billion by 2021, at a CAGR of 7.04% to 2021propelled by the increasing use of composites in the aerospace & defense, wind, and transportation applications.

Complete report on global composites market spread across 202 pages, profiling 14 companies and supported with 86 tables and 68 figures is now available at .

The aerospace & defense application is accounts for the largest share of the composites market. Composite structures are designed to survive extreme operating conditions such as high stress, shock, and impact loads. These requirements of complex aerospace structures are fulfilled by composites. There is an increase in the demand for composites due to new aircraft programs, including the Airbus A350 XWB and A320 neo and the Boeing 787 and 737 MAX. This trend is expected to continue in the next five years due to the delivery backlog of aircrafts from major aerospace manufacturers.

Asia-Pacific dominated the composites market, followed by North America. It is also the most promising market for composites in the next five years. Rapid industrialization and urbanization have led to increase in demand for composites from construction, wind, pipe & tank, automotive, electronics & semiconductor, and other industries in the region. China is expected to have the largest market share in the Asia-Pacific region due to its rapidly growing manufacturing sector in the country.

Composites are finding its use in emerging applications such as sporting goods, consumer goods, healthcare, and so on. It is used in skis, snowboards, golf clubs, archery bows, fishing rods, racquets, stacking chairs, and so on.

The various key players profiled in this report such as Cytec-Solvay Group (U.S.), E.I. DuPont Nemours & Co. (U.S.), Huntsman Corporation (U.S.), PPG Industries (U.S.), Toray Industries (Japan), Teijin Limited (Japan), Owen Corning (U.S.), Hexcel Corporation (U.S.), Momentive Performance Materials, Inc. (U.S.), SGL Group (Germany), Saint-Gobain (France), Weyerhaeuser (U.S.), Chongqing Polycomp International Corporation (China) and Jushi Group (China). Ask for the discount before order a copy of Composites Market by Type (Carbon Fiber Composites, Glass Fiber Composites and Others), Resin Type (Thermoplastic Composites and Thermosetting Composites), Manufacturing Process, Application and by Region - Global Trends and Forecasts to 2021 research report available at .

In the process of determining and verifying the market size gathered through secondary research for several segments and sub-segments, extensive primary interviews were conducted as follows:-

- By Company Type: Tier 1 (70%), Tier 2 (25%) and Tier 3 (5%).
- By Designation: C-level (31%), Director Level (23%)and others (46%)
- By Region: North America (65%), Europe (24%), Asia-Pacific (9%), and RoW (2%)

On a related note, another research on Core Materials Market for Composites Global Forecasts to 2021 says, increasing demand for lightweight and high strength materials expected to drive the core materials market for composites. Wind energy is the fastest-growing industry of the core materials market for composites. Asia-Pacific is the fastest-growing market for core materials for composites. Companies like Diab Group (Sweden), Hexcel Corporation (U.S.), 3A Composites (Switzerland), Euro-Composites S.A. (Luxembourg), Gurit Holding AG (Switzerland), The Gill Corporation (U.S.), Changzhou Tiansheng New Materials Co. Ltd. (China), Plascore Incorporated (U.S.), Armacell International S.A. (Luxembourg) and Evonik Industries AG (Germany) have been profiled in this 182 pages research report at .

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