Country-Niche Players and Regional Players constitute ~60% and ~35% of market presence respectively Despite the Presence of about ~600 Competitors, find a Recent Market Study on the Global Composites Market.
Composites are materials that are created by mixing two or more natural or synthetic elements (with various physical or chemical qualities) and are more powerful when used collectively than when used alone. The constituent parts merge and contribute their most advantageous features to enhance the result or finished product, but they do not blend or lose their own identities.
Ken Research shares 3 key insights on this high-opportunity market from its latest research study.
Large Global Players Hold Around 45% of the Market Share Followed by Regional Players Holding ~30% of the Market Share
A comprehensive competitive analysis conducted during the Research Study found that the Global Composites Market is competitive with ~500 players which include globally diversified players, and regional players, as well as a large number of country-niche players.
According to the research, the Large Global Players held the dominant position in the market in 2021, in terms of the market share with about ~45% followed by regional players which account for ~30% of the market share.
Players are Increasingly Investing in the Composites Industry which is Promoting the Market Growth.
To increase their position in the market, competitors have implemented a variety of organic and inorganic growth techniques. To expand their regional footprint and improve their product offering, these top players used mergers and acquisitions, new product development, and expansion to address the rising demand for composites in emerging economies.
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Not just key players but also emerging players are expanding in the Composites industry and are also investing in strategies like collaborations and technological development to compete in the industry.
- In June 2021, Solvay partnered with Novotech, an Italian UAM company. Solvay has granted the company access to its selection of thermoset, thermoplastic composites, and adhesive materials as well as dedicated technical support.
The MTM® 45-1 and CYCOM® 5320-1 resin systems from Solvay, which are NCAMP-registered and aerospace-qualified, were chosen by Novotech. These two products have a strong aerospace pedigree system, a sizable publicly accessible dataset, flexible production processes, and the product forms necessary to support quick market acceptance.
Increased Adoption of Composites in Various Parts of the World leading to Major Industry-Wide Developments, Acquisitions, and Deal-Wins
- In September 2021, Hexcel announced the expansion to double the capacity of the current core-engineered production in Morocco.
The company stated in a news statement that it plans to address the rising demand in Morocco from aerospace customers for lightweight advanced composites and that the expansion is anticipated to be finished in early 2023.
- In May 2021, Toray Industries, Inc. revealed that it has created a high thermal conductivity technology that raises the carbon fiber reinforced plastic’s (CFRP) heat-dissipating capabilities to those of metals. By utilizing this technology, CFRP effectively dissipates heat from its sources through internal thermal conduction pathways. This enhances performance in electronic device applications while reducing battery deterioration in mobility applications.
Key Topics Covered in the Report
- Snapshot of the Global Composites Market
- Industry Value Chain and Ecosystem Analysis
- Market size and Segmentation of the Global Composites Market
- Historic Growth of the Overall Global Composites Market and Segments
- Competition Scenario of the Market and Key Developments of Competitors
- Porter’s 5 Forces Analysis of the Global Composites Market
- Overview, Product Offerings, and SWOT Analysis of Key Competitors
- COVID-19 Impact on the Overall Global Composites Market
- Future Market Forecast and Growth Rates of the Total Global Composites Market and by Segments
- Market Size of Fiber Type / End User Segments with Historical CAGR and Future Forecasts
- Analysis of the Composites Market in Major Regions
- Major Production / Consumption Hubs in the Major Regions
- Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
- Overview of Notable Emerging Competitor Companies within Each Major Country
Major Players Mentioned in the report
- Huntsman Corporation LLC
- SGL Group
- Teijin Ltd
- CooperVision
- DuPont
- Owens Corning
- Toray Industries, Inc.
- Mitsubishi Chemical Holdings Corporation
- Solvay
- Exel Group
- DOW
Notable Emerging Companies Mentioned in the Report
- Capricorn Composite GmbH
- Aircraft Composites Sachsen GmbH
- Fibrolux GmbH
- Hexcel Corporation
- INEOS Enterprises
- Bally Ribbon Mills
Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report
- Composites Manufacturers
- Glass Fiber Composites Manufacturers
- Insulation Manufacturers
- Raw Material Suppliers for Composites
- Composites Research and Development Institutes
- Market Research & Consulting Firms
- Banking and Financial Service Providers
- Hardware Electronics Suppliers
- Auto Component Manufacturers
- Government & Regulatory Authorities
- Chemical Research Institutes
- Specialty Chemicals Material Suppliers
- Investors in Chemicals Industry
- Start-ups & Incumbents in Chemical Industry
- Chemical Testing & Inspection Companies
- Government Ministries and Departments of Chemicals Industry
- PE and VC Firms focused on Chemicals Industry
- Potential Entrants into Composites Industry
Time Period Captured in the Report
- Historical Period: 2017-2021
- Forecast Period: 2022E-2028F
For more information on the research report, refer to below link:
Global Composites Market Size, Segments, Outlook, and Revenue Forecast 2022-2028: Ken Research
