At 8+% CAGR Composites Market Potentially Worth $115.43 Billion by 2022 Led by Asia-Pacific Region
PUNE, India, Sept. 1, 2017 /PRNewswire-iReach/ -- The Asia-Pacific composites market is projected to grow at the highest CAGR in terms of volume between 2017 and 2022. The Asia-Pacific region is the largest consumer of composites in the world, followed by the North American region. It is also expected to be the most promising market for composite sin the next five years. Rapid industrialization and urbanization in the region have led to increased use of composites in the aerospace & defense, construction & infrastructure, wind, pipes &tanks, and transportation applications. China is the largest market for composites in the Asia-Pacific region due to the rapidly growing manufacturing sector in the country. Browse 83 Market Data Tables and 55 Figures spread through 192 Pages and in-depth TOC on "Composites Market - Global Forecast to 2022" http://www.reportsnreports.com/reports/1166431-composites-market-by-fiber-type-glass-carbon-resin-type-thermoset-thermoplastic-manufacturing-process-layup-filament-winding-pultrusion-application-transportation-aerospace-defense-wind-energy-re-st-to-2022.html .
The aerospace & defense application segment is projected to lead the composites market in terms of value during the forecast period. The growth of this application segment of the composites market can be attributed to increased use of composites in the aircraft structures. Composites used in various aircraft structures such as wings, fuselage, aircraft interiors, etc. as they can survive extreme operating conditions such as high stress, shocks, and impact loads. Thus, there is an increase in the demand for composites for making new generation aircraft such as Airbus A350 XWB and A320neo and the Boeing 787 and 737 MAX.
The growth of the composites market is restrain by the high processing and manufacturing costs of composites and lack of standardization in the composite manufacturing technologies. Composites are also being used in various other applications such as sporting goods, consumer goods, healthcare, etc. They are being used for manufacturing skis, snowboards, golf clubs, archery bows, fishing rods, racquets, stacking chairs, etc.
This research study is obliging for following audience:
1. Manufacturers of Composites
2. Raw Material Suppliers
3. Distributors & Suppliers of Composites
4. End-use industries
5. Industry Associations
6. Investment Research Firms
The leading manufacturers of composites market include Owen Corning (U.S.), Solvay (Belgium), SGL Group (Germany), Hexcel Corporation (U.S.), Koninklijke Ten Cate bv (Netherlands), Teijin Limited (Japan), Toray Industries, Inc. (Japan), Huntsman Corporation (U.S.), Jushi Group (China), Gurit (Switzerland), etc. These players have adopted various organic and inorganic strategies to strengthen their foothold in the composites market. Request Sample Copy of "Composites Market by Fiber Type (Glass, Carbon), Resin Type (Thermoset, Thermoplastic), Manufacturing Process (Layup, Filament Winding, Pultrusion), Application (Transportation, Aerospace & Defense, Wind Energy), Region - Global Forecast to 2022" research report at http://www.reportsnreports.com/contacts/requestsample.aspx?name=1166431 .
In the process of determining and verifying, the market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. In Tier 1 (10%), Tier 2 (25%), and Tier 3 (65%) companies were contacted for primary interviews. The interviews were conducted with various key people such as C-Level (10%), Director Level (30%) and others (60%) from various key organizations operating in the composites market. The primary interviews were conducted worldwide covering regions such as North America (20%), Europe (15%), Asia-Pacific (45%), Latin America (11%), and the Middle East & Africa (9%).
Research Coverage: This report segments the composites market comprehensively and provides the closest approximations of the revenue numbers for the overall market and its subsegments across different verticals and regions. The report is expected to help the stakeholders to understand the pulse of the market and provides them information on the key market drivers, restraints, challenges, and opportunities. This report is expected to help the stakeholders to understand the competitors and gain insights to enhance their positions in the composites market. The competitive landscape section includes the ecosystem of competitors, investments & expansions, new product launches, and agreements.
Another research titled High Performance Composites Market Global Forecast to 2022 says, the high performance composites market was valued at $23.50 billion in 2016 and is projected to reach $33.33 billion by 2022, at a CAGR of 6.0% from 2017 to 2022. The wind turbine application segment of the high performance composites market is projected at the highest CAGR during the forecast period from 2017 to 2022. The S-glass fiber type segment of the high performance composites market is projected to grow at the highest CAGR between 2017 and 2022. The Asia Pacific high performance composites market is projected to grow at the highest CAGR during the forecast period from 2017 to 2022. Companies such as Toray Industries Inc. (Japan), Hexcel Corporation (US), Solvay S.A. (Belgium), SGL Group-The Carbon Company (Germany), Koninklijke TenCate NV (Netherlands), TPI Composites (US), Owens Corning Corporation (US), Teijin Limited (Japan), BASF SE (Germany) have been profiled in this 201 pages research report available at http://www.reportsnreports.com/contacts/requestsample.aspx?name=1139145 .
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