The global composites industry is expected to reach $39.1 billion by 2022, growing at a rate of 5.1% annually from 2017 to 2022. The industry is segmented by application, raw materials, and fiber type, with transportation, marine, wind energy, and aerospace making up major application segments. Increasing demand for lightweight and corrosion-resistant materials is driving growth in industries like aerospace, automotive, construction, and pipe/tank manufacturing.

1. The Global Composites Industry 2017-2022:
Trends, Forecast, and Opportunity Analysis
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2. Industry Profiles Snapshot
Major Parameter Description
Market Segments by
application
Transportation, marine, wind energy, aerospace, pipe & tank, construction,
electrical & electronics, consumer goods, and others.
Market Segments by raw
material
Glass fiber, carbon fiber, aramid fiber, polyester resin, vinyl ester, phenolic,
polyurethane, thermoplastic resin, filler, and others.
Market Segments by fiber
type
Glass fiber composites, carbon fiber composites, and aramid fiber
composites.
Trend Growth Rate and
CAGR
5.1%
Key Industry Forecast
The global composite materials market is expected to reach an estimated
$39.1 billion by 2022 and it is forecast to grow at a CAGR of 5.1% from 2017
to 2022.
Key Industry Driver
Driver: Increasing demand for lightweight materials in the aerospace &
defense and automotive industry; corrosion and chemical resistance materials
demand in construction and pipe & tank industry; electrical resistivity and low
flame retardant materials demand in E&E industry.
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3. Industry Overview
Market Size
• The global composite materials market is
expected to reach an estimated $39.1
billion by 2022 and it is forecast to grow at
a CAGR of 5.1% from 2017 to 2022.
• Emerging trends, which have a direct
impact on the dynamics of the industry,
include development of low-cost carbon
fibers, high performance glass fiber and
shorter cycle time of resin system.
Market Size (2017) $39.1 billion
CAGR (2017-22) 5.1%
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Industry Performance : Forecast