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 $72.0 billion by 2028 with a CAGR of 5.1%. In this market, injection molding is the largest segment by manufacturing process, whereas transportation is largest by end use. 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, prepreglay up, and others. The injection molding segment accounted for the largest share of the market in 2022 and is expected to register the highest CAGR during the forecast period, due to composite manufacturing because of high-output production rate, low labor cost, and design flexibility.
Browse in-depth TOC on “Composites Market”
55 – Tables
240 – Figures
402 – 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, JushiGroup, Nippon Electric Glass Co Ltd., CPIC, Toray Industries, Hexcel Composites, Mitsubishi Rayon, Gurit, PolyntReichhold.
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