© 2018 Global Market Insights, Inc. USA. All Rights Reserved Composite Market to Witness A Phenomenal Growth over 2018 to 2025

Global Market Scenario of Composite Industry © 2018 Global Market Insights, Inc. USA. All Rights Reserved  Population growth attracts huge investments in the infrastructure, automobile, energy and aerospace and defence sector which will drive the Composite Market size in the forecast timeframe.  Product possesses properties like high strength to weight ratio, high fatigue resistance, resistance to chemicals, thermal insulating properties, high impact strength which makes it suitable for the above- mentioned industries.  Global Composite Market size is witnessing a decent growth and is expected to follow the trend over the forecast spell. The major application of the composites is in the industries such as aerospace and defence, infrastructure, automobile, energy, pipe, and tank & marine.  Composites are widely used in defence and aerospace sector for manufacturing aircraft, helicopter, spacecraft structural parts, personal armours, light weight bullet proof jackets, ballistic barriers, riot gears, etc. Improving economic conditions across the world and instability in some regions are the factors for the increase in defence spending.  U.S. is one of the top suppliers of military aircraft, leader in manufacturing civil airplanes & spacecrafts; the value of exports by U.S. in the aerospace sector is $146.0 billion in 2017.

© 2018 Global Market Insights, Inc. USA. All Rights Reserved Product Analysis:- Based on the fibre type Composite Market size can be segmented into; carbon fibres, fiberglass, aramid fiber & others. Carbon fibres have excellent tensile strength and resistance to temperatures, these mentioned properties make it desirable for the application in the aerospace and defence sector. On the other hand, fiberglass is nonconductive but not strong as carbon fibre making it suitable for the broadcast and transmission application. Based on the resin type the Composite Market size is classified into; thermoplastics, thermosetting & others these are polymers used in fibre reinforced composites. Thermoplastic composites have low density, good toughness & strength and ability to remoulded. Thermoset composites are light in weight and have corrosion resistance making it suitable for the application in the marine, material handling, automobile & aerospace industry verticals. Regional Trends:- Asia Pacific constituted a major chunk of the overall Composite Market share in This is mainly attributed to strong product demand from aerospace & defence, infrastructure and automobile sector. Asia Pacific witnessed the largest infrastructure spending which was valued approximately over USD 40.0 billion i.e. 59% of the global infrastructure spending in Product is extensively used in infrastructure industry for retrofitting of structure and as reinforcing materials in repair. FRP (Fibre Reinforced Plastic) are now used in bridge decks.

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© 2018 Global Market Insights, Inc. USA. All Rights Reserved Competitive Trends: Some of the Composite Market share players are SGL Group, Hexcel Corporation, Huntsman Corporation, Tensar International Corporation, Toray Industries, Inc., Tenjin Limited, Owens Corning, Jushi Group, Oray Industries Inc., Kononklijke Ten cate. The global Composite Market is highly fragmented with the presence of large number of player. Threat of new entrants in market is medium; as it requires technical expertise and high cost of raw material which signifies high initial investments. Companies are investing to tap the regional markets by adopting organic growth strategies of expansions and agreements. For instance, Toray industries Inc. has announced the opening of their subsidiary in India & they are positioning it as a base for their advanced material business; as they will have the capability to tap the South Asia market.

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