Composites Market worth $90 Billion by 2020 Composites Market worth $90 Billion by 2020

Composites Market worth $90 Billion by 2020
The report “Composites Market by Type (Carbon Composites, Glass Composites and Aramid Composites), by
Manufacturing technology (Layup, Filament winding, Injection molding, Pultrusion, Compression Molding etc.) ,
by Resin Type (Thermoplastics Composites and Thermosets Composites), by Application (Automotive, Aerospace
& Defense, Electronics & Semiconductor, Wind, Construction, Pipe & Tanks, Marine and others), and by Region Global Trends and Forecasts to 2020”, defines and segments the composites market with an analysis and forecast
of the volumes and values of types such as carbon composite, glass composite and aramid composite individually.
Browse 93 Market Data Tables and 55 Figures spread through 200 Pages and in-depth TOC on “Composites
Market"
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It also identifies the driving and restraining factors for the Composites Market with an analysis of trends,
opportunities, burning issues, and winning imperatives. The market is segmented and the volume & value have
been forecasted on the basis of major regions such as North America, Asia-Pacific, Europe, and Rest of the World
(RoW).
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Increase in demand of Composites from Automotive Industry
The demand of light weight automotive parts has given an edge to composites due to its high strength and light
weight properties. The use of composites enabled automotive parts reduction in light weight vehicles, improved
engine efficiency, reduction in CO2 emissions and superior performance. The automotive industry can benefit from
composites in several applications such as powertrain, suspension and breaking systems, exhaust systems and
catalytic converters, lubrication, tires and body parts. The advantage of composites over conventional composites
is that their mechanical, electrical, thermal, barrier and chemical properties such as increased tensile strength,
improved heat deflection temperature, flame retardancy etc. As automakers in U.S. work to meet Corporate
Average Fuel Efficiency (CAFE) standards of 36.6 mpg by 2017 and 54.5 mpg by 2025, vehicle weight reduction has
become a major strategy. The use of composites in automobiles can help the manufacturers to achieve the target
with improved mileage
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Global composites market of end use product by value is projected to reach around $90 billion by 2020
The market for composites end market in terms of value is expected to reach around $90 billion by 2020, growing
at a significant CAGR 7% to 9% from 2015 to 2020. The Asia-Pacific region dominated the Composites Market in
terms of volume in 2014 and it is expected to grow at a higher CAGR, from 2015 to 2020. Large construction
industry, wind and increasing automotive and aerospace & defense industry in Asia-Pacific region helped it to
dominate the global composites market. Construction market in Asia-Pacific is the major driving factor for the
composites application market.
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North America & Asia-Pacific accounted for more than 68% share in the composites market in terms of volume
in 2014