The demand within the global composites market is increasing in lieu of advancements in chemical research and polymerization reactions. Use of composites spans into a multitude of industries, and this trend has garnered the attention of investors. Wider the scale of applications, greater is the scope for revenue generation within a market. Henceforth, the total volume of investments flowing into the global composites market is expected to increase.
The chemical industry is involved in the research and analysis of several composite materials such as alloys, ceramics, and solid mixtures. Moreover, chemical properties of composites are extensively studied by geoscientists. Advancements in metallurgy and geophysics have, therefore, acted as a launch pad for the growth of the global composites market. It is legit to expect that advancements in polymerization techniques would bring in fresh revenues within the global composites market. Furthermore, the use of improved technologies for blending chemical materials and substances has also garnered the attention of chemical manufacturers.
Transparency Market Research, in a report, predicts that the global composites market would grow at a starry CAGR of 8.9% over the period between 2017 and 2025. Furthermore, the composites market is expected to touch a value of US$102 bn by 2025, rising up from a value of US$47.3 bn in 2016.
Popularity of Organic Substances to Drive Market Demand
The use of materials extracted from trees has become a common trend across multiple industries. Popularity of organic standards of living, coupled with the need for blending organic materials with other substances, has generated demand within the global market. Furthermore, the cosmetics industry is a primary consumer of composites. The emergence of several skincare products that are produced from composites has become a distinct market trend.
The constructions industry has become a key consumer of composites, and this factor has generated increased market demand. Besides, use of these composites in other key industries such as oil, gas, and minerals has also created fresh opportunities for market growth.
Changing Trends across End-Use Industries
Apart from the cosmetics industry, use of composites such as concrete has also increased. The constructions industry has a humongous budget, and this is a key consideration from the perspective of market growth. Therefore, the global composites market is set to become a haven of lucrative opportunities in the years to follow.
Plywood has become an important material in the field of interior decoration and home furnishings. This factor, coupled with the increasing spending capacity of the masses, has played to the advantage of the global market. The need for testing structural integrity has put on onus on the manufacturers to retain quality of composites. This factor has generated confidence amongst the end-users who prefer to use composites over its alternatives.
The global composites market can be segmented by:
- Automotive & Transportation
- Aerospace & Defense
- Electrical & Electronics
- Marine & Oil & Gas
- North America
- Latin America
- Asia Pacific
- The Middle East
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.
Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.
Transparency Market Research
90 State Street,
Albany NY - 12207
USA - Canada Toll Free: 866-552-3453
7 of 10 large enterprizes view our ToC to take the right decision.View Report ToC