Global Composite Materials Market Overview:
Composites are the combination of different materials for the matrix, these materials include polymer, ceramic, and continuous fiber. The composites are being used for a wide range of applications such as external & internal construction applications, powertrain, infrastructure, etc. for better resistance, stronger matrix, strength, and stiffness. The composites are used in different industries such as aerospace & defense, automotive, electronics, marine industry, and others. The growing demand for strong, stiffer, and cost-effective composite materials in infrastructure development especially in the growing aerospace & automotive industry.
Growth Drivers
- Growing Construction and Engineering Activities
- Demand for Minimized Production Costs, Strength and Stiffness in The Infrastructure
Roadblocks
- Stringent Regulatory Guidelines & Standards Involved with Environmental Factors Affecting the Composites Materials Market
Opportunities
- Surging New Developments and Spendings in the Automotive and Aerospace Sectors will Boost the Composite Materials Market
Challenges
- Stiff Competition in the Market with the Presence of Various Composite Materials Manufacturers
Competitive Landscape:
Some of the key players profiled in the report are Mar-Bal, Inc. (United States), SGL Carbon (Germany), Nippon Carbon Co., Ltd. (Japan), Toray (Japan), Hexcel Corporation (United States), Solvay (Belgium), Toyo Tanso (Japan), Tokai Carbon (Japan), Markforged (United States), SCHUNK GmbH & Co. KG (Germany), Bay Composites (United States) and Instron (United States). Considering Market by Industry Verticals, the sub-segment i.e. Aerospace & Defense will boost the Composite Materials market. Considering Market by Material, the sub-segment i.e. Polymer Matrix Composites will boost the Composite Materials market.
Latest Market Insights:
On 20th July 2021, Toray Composite Materials America, Inc., a leading innovator, and supplier of carbon fiber materials and advanced composite prepreg, announces the launch of Toray 2700. Epoxy-based 2700 is a high-performance, patented resin technology geared toward emerging aerospace programs. It satisfies stringent aerospace structural design drivers and enables the manufacture of high-quality, high-volume, cost-effective composite parts.
On 26th July 2021, Markforged creator of the integrated metal and carbon fiber additive manufacturing platform, The Digital Forge, announced it is taking a major strategic step to support aerospace, defense, and other manufacturers in highly-regulated industries. Beginning today, Markforged is offering Onyx FR-A and Carbon Fiber FR-A, aerospace-ready versions of its Onyx FR and Carbon Fiber FR materials.
"According to OSHA Directive, Many workers are unaware of the potential hazards in their work environment, which makes them more vulnerable to injury. The following references aid in recognizing and evaluating composites hazards in the workplace. Polymer Matrix Materials Advanced Composites. Provides a description of the manufacturing processes and potential hazards of the advanced polymer matrix composites. Includes an overview of the industry, information about the manufacturing process, and health hazards."
What Can be Explored with the Composite Materials Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Composite Materials Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Composite Materials
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Composite Materials market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Composite Materials market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Composite Materials Manufacturers, Composite Materials International Traders, Composite Materials Distributors and Suppliers, Research and Development Institutes, Potential Investors, Regulatory Bodies and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.