Composites Industry Overview, Cost Structure Analysis, Growth Opportunities and Forecast to 2029

The global composites market size is projected to reach USD 112.0 billion by 2027, exhibiting a CAGR of 6.88% during the forecast period. Increasing utilization of composite materials in 3D printing applications will broaden the horizons of this market, observes Fortune Business Insights™  

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According to the report, the global market value stood at USD 99.91 billion in 2019. The other highlights of the report include:

• Deep insights into the trends, drivers, opportunities, and challenges shaping the market;

• Actionable analysis of the market segments;

• Tangible research into the regional developments impacting the market; and

• Thorough evaluation of the key market players and their strategies. 

Industry Developments:

• January 2020: Teijin Limited announced the establishment of the Teijin Automotive Center Europe GmbH in Germany, which will serve as a new base for technical operations for the company’s automotive composites business.

• September 2019: INEOS Enterprises completed the acquisition of the entire composites division of Ashland Global Holdings, including a BDO facility in Germany. Ashland’s businesses in this domain boast combined annual sales revenue of USD 1.1 billion, with sites in the Middle East, Europe, the Americas, and Asia.

List of Key Companies Profiled in this Market Report:

• Toray Industries, Inc. (Tokyo, Japan)

• Teijin Limited (Tokyo, Japan)

• Mitsubishi Chemical Holdings Corporation (Tokyo, Japan)

• Hexcel Corporation (Stamford, United States)

• SGL Carbon (Wiesbaden, Germany)

• Huntsman International LLC. (Texas, United States)

• Solvay (Brussels, Belgium)

• Exel Group (Paris, France)

• Veplas d.d. (VELENJE, Slovenia)

• Composite Solutions (Sumner, United States)

• Owens Corning (Ohio, United States)