Toray Industries Leading $28 Billion Composites Market
According to TechSci Research report, “Global Composites Market By Type, By Application, By Manufacturing Process, By Region,
Competition Forecast & Opportunities, 2012-2022”, global
composites market is projected to surpass $ 42 billion by 2022. Growing
investment in the renewable energy sector coupled with the shift towards light
weight carbon fiber composites is expected to drive demand for composites across the globe in the coming
years. Moreover, booming construction and transportation sectors across the
globe are anticipated to further steer demand for composites, globally, through
2022.
Browse 218 market data Figures
and 19 Tables spread through 205 Pages and an in-depth TOC on "Global Composites Market”
On the basis of fiber type, glass fiber dominated the global composites
market in 2016 and is anticipated to continue its market dominance during the
forecast years as well. However, demand for carbon fiber is expected to surge
at a rapid pace during the forecast period on account of rising preference for
lightweight components across different end use sectors. A large demand for
composites comes from the civil engineering sector, due to the rising
construction activities across the globe, especially in major developing
countries. Civil engineering sector is followed by aerospace and automotive
sectors, which require composites in the manufacturing of lightweight parts of
the aircraft and vehicles, respectively.
‘Lay up’
is the most popular process for the manufacturing of composites. However, in
the coming years, the use of compression moulding process for producing
composites is anticipated to gain traction, as it is capable of manufacturing
high volume products, while ensuring minimal wastage. Among regions, Europe is
the largest demand generator for composites. However, in the coming years,
Asia-Pacific is expected to generate high demand for composites on the back of
substantial growth in various industries like transportation, construction,
marine, etc., across the region. Toray Industries Inc. is the leading player in
the global composites market valued at $28 Billion in 2016, followed by Hexcel
Corporation, Teijin Limited, Mitsubishi Chemical and Solvay.
“Rising
demand for heat resistant and lightweight components from automotive sector
would continue to boost demand for composites. Furthermore, rising
infrastructural activities across the globe and increasing focus towards the
renewable energy sector, especially wind energy projects, is further expected
to add on to the growing demand for composites in the coming years”, said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
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“Global Composites Market By Type, By
Application, By Manufacturing Process, By Region, Competition Forecast &
Opportunities, 2012-2022”
has evaluated the future growth
potential of global composites market and provides statistics and information on market size,
structure and trends. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities in the global composites market.
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