Materials and Chemicals Composites Market Growth 2026 by Reports and Data

1 Composites Market To Reach USD 146.14 Billion By 2026 Rising demand for lightweight materials in defense, aerospace and automotive industries is a major factor influencing market growth. Market Size – USD 88.44 Billion in 2018, Market Growth - CAGR of 6.2%, Market Trends – Growing applications in the automotive and transportation industry. The global Composites market is expected to reach USD 146.14 Billion by 2026, according to a new report by Reports and Data. This can be mainly associated with the rising demand for lightweight materials in defense, aerospace and automotive industries. Composites are lightweight when compared to most woods, metals, and alloys, which is an essential requirement for automobiles and aerospace industries since reducing the weight reduces the amount of fuel it needs and increases the speeds of the automobiles and aircraft. Furthermore, composites are also resistant to damage from weather, temperature changes, and harsh chemicals along with being non- corrosive. For instance, composites can be a good choice where chemicals are handled or stored. Highly expensive processing and manufacturing is one of the factors restraining the growth of the market. Further key findings from the report suggest  The market is segmented on the basis of resin type into thermoset composites, thermoplastic composites and others.  Thermoset resin dominated the market, with a share of ~59% in 2018.  Thermoset composites are synthetic materials that get strengthened when heated without losing their plasticity, suitable for highly corrosive and high-temperature applications and are majorly used in construction & infrastructure, marine, aerospace and wind energy industries.  The market is segmented on the basis of product type into polymer matrix composite, metal matrix composites, and ceramic matrix composites.  Polymer matrix composite dominated the market in 2018 and is forecasted to witness a growth of 7.6% during the forecast period, due to the growth of glass and carbon fibers. To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/composites-market  The market is segmented on the basis of process into pultrusion process, layup process, filament winding, compression molding, injection molding, resin transfer molding, automated fiber placement, and automated tape laying.  The layup process segment dominated the market in 2018 and is forecasted to have a growth of 6.8% during the forecast period.  The growth of the segment can be associated with the low-costs incurred during the process, in which the composites are manufactured, and are majorly used by the wind and marine industries.  The market is segmented on the basis of industry vertical into automotive & transportation, aerospace & defense, electrical & electronics, wind energy, construction & infrastructure, pipes & tanks, marine and others. Follow us:

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