Research Nester assesses the growth of global composites market which is anticipated to be on account of the rising demand for chemical and corrosion resistance material.
Research Nester’s recent market research analysis on “Composites Market: Global Demand Analysis & Opportunity Outlook 2033” delivers a detailed competitors analysis and a detailed overview of the global composites market in terms of market segmentation by fiber type, resin, manufacturing process, end use, and by region.
Growing Infrastructure Activities of Roads and Bridges to Boost Marker Growth
The Indian government expects to build 64,000 kilometers of national highways by 2022 at an estimated cost of USD 740 billion.
Bridge decking, enclosures, and full bridge structures can all be built using composites. In comparison to more traditional materials like steel and reinforced concrete, they have higher stiffness-to-weight and strength-to-weight ratios, making them beneficial. Hence this factor is expected to boost the market growth.
The market research report also includes other growth factors and challenges that are associated with the growth of the global composites market. Some of the major growth indicators are:
Growth Drivers:
- Rise in Aging Infrastructure
- Increasing Use of 3D Printing in the Marine Industry
Challenges:
Recycling and standardization issues, and high costs are some of the major factors expected to hinder the growth of the global composites market. Despite of the numerous restraint factors associated with the growth of the market, Research Nester’s analysis indicates a robust growth for the market during the forecast period.
The market research report on global composites market encompasses an in-depth analysis of the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends. These analyses help organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future. Additionally, the growth opportunities exposed by the market is poised to gain significant momentum in the next few years.
By end use, the global composites market is segmented into electrical & electronics, automotive & transportation, wind energy, aerospace & defense, pipes & tanks, and construction & infrastructure. Out of these segments, the automotive & transportation segment is anticipated to garner the highest revenue by the end of 2033, backed by growing automotive industry.
By region, the Asia Pacific composites market is expected to hold the largest revenue by the end of 2033. This growth is anticipated by growing disposable income in this region.
The research is global in nature and covers detailed analysis on the composites market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising of global composites market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
This report also provides the existing competitive scenario of some of the key players of the global composites market which includes company profiling of Huntsman Corporation LLC,SGL Carbon, Teijin Limited, PPG Industries, Inc., Toray Industries, Inc., Owens Corning, Hexcel Corporation, DuPont, Momentive Performance Materials, Inc., China Jushi Group Co., Ltd., The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global composites market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
