Composites Market Global trends and forecast to 2029 | Exactitude Consultancy Reports

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Exactitude Consultancy Latest Published Composites Market Research Report by Fiber Type (Glass Fiber Composites, Carbon Fiber Composites, Natural Fiber Composites), Resin Type (Thermoset Composites, Thermoplastic Composites), Manufacturing Process (Lay-Up Process, Filament Winding Process, Injection Molding Process, Pultrusion Process, Compression Molding Process, Resin Transfer Molding (RTM) Process, Other), End-use Industry (Transportation, Aerospace & Defence, Wind Energy, Construction & Infrastructure, Pipe & Tank, Marine, Electrical & Electronics, Others), and Region (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America), Global trends and forecast from 2022 to 2029

The global composites market is expected to grow at 7.9% CAGR from 2022 to 2029. It is expected to reach above USD 161.68 billion by 2029 from USD 81.56 billion in 2020.

On the basis of fiber type, the composites market is segmented into Glass Fiber Composites, Carbon Fiber Composites, Natural Fiber Composites. Based on resin type, the composites market is segmented into Thermoset Composites, Thermoplastic Composites Based on the manufacturing process, the composites market is segmented into Lay-Up Process, Filament Winding Process, Injection Molding Process, Pultrusion Process, Compression Molding Process, Resin Transfer Molding (RTM) Process, Other.

On the basis of end-use industry, the market is bifurcated into Transportation, Aerospace & Defence, Wind Energy, Construction & Infrastructure, Pipe & Tank, Marine, Electrical & Electronics, Others.

Carbon fiber composites hold the largest market share in the market growth. Carbon fiber reinforced polymers (CFRPs) are among the most popular products in the global composites market, because of their characteristics such as high tensile strength, fatigue resistance, and modulus. Due to its increased performance in severe environments, CFRP has a wide range of applications in aviation and component manufacture. To have the motive of lighter aircraft with lower fuel consumption, the industry is embracing composite materials. Due to their high demand in the aviation manufacturing industry, CFRPs are the primary revenue generators for companies in the worldwide composites market.

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