Composite Material Market, Global Outlook and Forecast 2023-2029
A material made up of two or more constituent materials possessing varied physical or chemical properties and is different from individual components is known as a composite material. These composites are highly used in aerospace and defense, transportation, and wind energy applications. Hence, comprehensive testing is carried out on these materials with specific standards known as composite testing. Composite testing is widely used in aerospace & defense sector to evaluate the performance and structural applications. Major commercial aircraft manufacturers such as Airbus and Boeing have developed aircraft such as Airbus A350 and Boeing 787 that constitute almost 50% of the composites in their airframe structures. Aviation giants such as National Aeronautics and Space Administration (NASA) and SpaceX widely use composite testing due to resistance fatigue & corrosion and high stiffness-to-weight ratio.
This report aims to provide a comprehensive presentation of the global market for Composite Material, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Composite Material. This report contains market size and forecasts of Composite Material in global, including the following market information:
Global Composite Material Market Revenue, 2018-2023, 2024-2029, ($ millions)
Global top five companies in 2022 (%)
The global Composite Material market was valued at US$ 903.9 million in 2022 and is projected to reach US$ 1073.5 million by 2029, at a CAGR of 2.5% during the forecast period. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
The U.S. Market is Estimated at $ Million in 2022, While China is to reach $ Million.
Polymer Matrix Composites Segment to Reach $ Million by 2029, with a % CAGR in next six years.
The global key manufacturers of Composite Material include Element Materials Technology, Henkel AG & CO, KGaA, Exova Group plc, Westmoreland Mechanical Testing & Research Inc, Instron, Matrix Composite Inc, ETIM Composites Testing Laboratory and Mistras Group Inc, etc. in 2022, the global top five players have a share approximately % in terms of revenue.
We surveyed the Composite Material companies, and industry experts on this industry, involving the revenue, demand, product type, recent developments and plans, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:
Global Composite Material Market, by Type, 2018-2023, 2024-2029 ($ millions)
Global Composite Material Market Segment Percentages, by Type, 2022 (%)
Polymer Matrix Composites
Continuous Fiber Composites
Ceramic Matrix Composites
Discontinuous Fiber Composites
Others
Global Composite Material Market, by Application, 2018-2023, 2024-2029 ($ millions)
Global Composite Material Market Segment Percentages, by Application, 2022 (%)
Sporting Goods
Aerospace & Defense
Electrical & Electronics
Wind Energy
Building & Construction
Transportation
Others
Global Composite Material Market, By Region and Country, 2018-2023, 2024-2029 ($ Millions)
Global Composite Material Market Segment Percentages, By Region and Country, 2022 (%)
North America
US
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Russia
Nordic Countries
Benelux
Rest of Europe
Asia
China
Japan
South Korea
Southeast Asia
India
Rest of Asia
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Turkey
Israel
Saudi Arabia
UAE
Rest of Middle East & Africa
Competitor Analysis
The report also provides analysis of leading market participants including:
Key companies Composite Material revenues in global market, 2018-2023 (estimated), ($ millions)
Key companies Composite Material revenues share in global market, 2022 (%)
Further, the report presents profiles of competitors in the market, key players include:
Element Materials Technology
Henkel AG & CO
KGaA
Exova Group plc
Westmoreland Mechanical Testing & Research Inc
Instron
Matrix Composite Inc
ETIM Composites Testing Laboratory
Mistras Group Inc
Intertek Group plc
Outline of Major Chapters:
Chapter 1: Introduces the definition of Composite Material, market overview.
Chapter 2: Global Composite Material market size in revenue.
Chapter 3: Detailed analysis of Composite Material company competitive landscape, revenue and market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides the analysis of various market segments by type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6: Sales of Composite Material in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space of each country in the world.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: The main points and conclusions of the report.
