The surge in demand from the end-user industries propels the composites market. The increased demand for the composites is due to the enhanced properties such as high strength and modulus, lower weight, high fatigue life, acoustic insulation, and resistance to corrosion. The main drivers for the growth of the composites market are the surging demand for lightweight materials in the aerospace & defense and automotive industries. The other factors influencing the composites market are the rise in demand for corrosion and chemical resistance materials from the construction and pipe & tank industry, and the demand of electrical resistivity and flammable materials in the electrical and electronics industry.

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The supply of primary raw materials and carbon fiber processing and its use remotely allows the manufacturers to reduce the cost of logistics. It permits manufacturers to augment productivity for the different end-use products straight. The carbon fibers find numerous applications due to their properties such as weight, high stiffness, low thermal expansion, temperature tolerance, and chemical resistance. Irregularity in the prices of raw materials and non-recyclable composites presents a significant threat to the market growth of composites.

Based on Fiber Type, the glass fiber composites segment is account for a significant market share of composites during the forecast years since they are less costly and possess superior physical and mechanical properties such as strength, flexibility, durability, stability, and lightweight. Glass fiber composites are mainly used in the segments of wind power, pipes & tanks, electrical & electronics, and construction & infrastructure.

The fiber-reinforced composite materials have driven mainly due to the requirements of high-performance items such as wings, tails, propellers, fuselages, helicopter rotor blades, spacecraft equipment, despite their high costs. The parts of the Airbus A350 and Boeing 787 aircraft are mainly made from composites. Moreover, composites are used in sailing, fishing gear, kayaks, dinghies, and scull hulls manufacturing.

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The major market players in the Global Composites are Owens Corning, Toray Industries, Inc., Teijin Limited, Mitsubishi Chemical Holdings Corporation, Hexcel Corporation, SGL Group, Nippon Electrical Glass Co. Ltd., Koninklijke Ten Cate bv, Huntsman International LLC., Solvay, MRC, PPG Industries, Inc., E. I. DuPont Nemours & Co., Weyerhaeuser Company, Chongqing Polycomp International Corporation, Jushi Group Co., Ltd., Honeywell International Inc., Renegade Materials Corporation, Kineco Kaman Composites – India Private Limited, Henkel AG & Co. KGaA, UPM Biocomposites, Trex Company, Inc., Gaffco Ballistics, Binani Industries Ltd., and other Prominent Players are expanding their presence in the market by implementing various innovations and technologies.

The in-depth analysis of the report provides the growth potential, upcoming trends, and statistics of Composites market size & forecast. The report promises to provide state-of-the-art innovations of Composites production and industry insights, which help decision-makers to make sound strategic decisions. Furthermore, the report also analyzes the market drivers, challenges, and competitive analysis of the market.