Lucintel's latest market report analyzed that composites provides attractive opportunities in the transportation, marine, wind energy, aerospace, pipe & tank, construction, E&E, consumer goods, and others end uses. The composites market is expected to reach $60.6 billion by 2027 with a CAGR of 5.5%. In this market, injection molding is the largest segment by manufacturing process, whereas transportation is largest by end use industry. The development of low-cost carbon fibers, high performance glass fiber, and rapid cure resin system provides strategic growth path in this market.
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Based on manufacturing process, the composites market is segmented into hand lay-up, spray up, resin infusion, filament winding, pultrusion, injection molding, compression molding, prepreg lay up, and others. The injection molding segment is accounted for the largest share of the market in 2021 because of high-output production rate, low labor cost, and design flexibility.
Browse in-depth TOC on “Composites Market”
55 – Tables
404 – Figures
240 – Pages
The composites market is marked by the presence of several big and small players. Some of the prominent players offering composites include Owens Corning, Jushi, Nippon Electric, Toray Industries, and Hexcel Corporation.
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