Comparing 20 vendors in Composites across 83 criteria.
ContendersMarket Leaders 
Emerging CompaniesInnovators 
Sabic
BASF
Celanese
Johns Manville
Kordsa
Huntsman
China Jushi
Hexion
Lanxess
SGL
Mitsubishi
Solvay
Hexcel
Toray
Teijin
Owens Corning
Gurit
Borealis
Avient
CPIC
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POWERED BY MARKETSANDMARKETS
Dec 21, 2024
Summary
The Composites Companies quadrant is a comprehensive industry analysis that provides valuable insights into the global market for Composites. This quadrant offers a detailed evaluation of key market players, technological advancements, product innovations, and emerging trends shaping the industry. MarketsandMarkets 360 Quadrants evaluated over 150 Composites Companies of which the Top 20 Composites Companies were categorised and recognized as the quadrant leaders.
Composites are reinforcement of fibers into the polymer matrix system”. Fibers include Glass Fiber, Carbon Fiber, Natural Fiber and Aramid Fiber and matrix systems are Thermoset Resin like Epoxy, Polyester, Vinyl Ester, Cyanate Easter etc. and Thermoplastic Resins like (PP, PA, PEEK, PEAK etc.). Based on this fiber and resin system we have considered the composites products like, LFT, SFT, Prepreg, Composites Tapes, Composites laminates, BMC, SMC etc.
The 360 Quadrant efficiently maps the composites companies based on criteria such as revenue, geographic presence, growth strategies, investments, channels of demand, and sales strategies for the market presence of the composites quadrant. While the top criteria for product footprint evaluation included Fiber Type (Glass Fiber Composites, Carbon Fiber Composites and Natural Fiber Composites), Resin Type (Thermoset Composites and Thermoplastic Composites), Manufacturing Process and End-Use.
Key trends highlighted in 360 Quadrants:
- The composites market is projected to register a CAGR of 8.2% between 2022 and 2027, it was USD 113.6 billion in 2022 and is projected to reach USD 168.6 billion by 2027. The market for composites is vibrant and expanding. The rising demand for sustainable composites, high-performance composites, and lightweight materials is driving the market. Developing innovative manufacturing techniques will also aid in the market's expansion.
- Increasing demand for lightweight materials is being made in the composites Industry. Composites companies are modifying their composites portfolio to meet the demand of the aerospace and automotive industries. In November 2021, Today, leading global producers of high-performance thermoplastic materials in the form of finished parts and semi-finished products Mitsubishi Chemical Advanced Materials (MCAM) and Celanese Corporation, a chemical and speciality materials company, announced a partnership to further develop mechanical recycling options for both post-industrial and post-consumer sources of polyoxymethylene (POM), also known as acetal copolymer.
- Based on resin type thermoset composites account largest market share in terms of value, because of their low cost and high performance. Heat and high temperatures won't harm thermoset composites. As a result, they are more frequently used in end-use industries like transportation and aerospace and defense that demand temperature-resistant materials. Some of the composites companies in the domain include Ownes Corning, Toray, Teijin and others.
- Based on fiber type, glass fiber composites account largest market share in terms of value and volume in 2022, Due to the high demand of sector high demand from sectors like sporting products, building & infrastructure, and wind energy installation.
- A major aspect of creating development prospects for composites companies is increasing. In North America, the construction sector is expanding significantly. The usage of composites in the construction industry is expanding significantly because to the rise in demand for high-strength and corrosion-resistant construction materials in housing and civil applications.
- A major aspect of creating development prospects for composites companies is the demand for composites in the automotive and transportation sectors is also anticipated to increase due to the growing emphasis on electric vehicles, declining carbon fiber costs, and expanding use of natural fiber composites in the automotive sector.
- Another reason driving the composites companies is the increased demand for composites materials. Composites manufacturers are continuously introducing new products to meet the demand of customers. In February 2021, Teijin Launches new Tenax PW (power series) and Tenax BM (beam series) brands of carbon fiber intermediate materials for sports applications.
- Europe was the largest market for composites companies, accounting for 35% of the overall market in terms of value. The reason for composites in Europe is primarily driven by the aerospace, transportation, and wind energy industries. These are the main sectors where composites are used nowadays. Leading the way in the utilization of natural fiber composites is Germany. For upholstery applications, renowned German manufacturers like Mercedes-Benz, Audi, and BMW primarily use natural fiber composites.
- The market is dominated by major composites companies top players Owens Corning, Toray Industries, Teijin Limited, Mitsubishi chemical and SGL these top composites companies accounted for a total 38.7% share of global composites market. The remaining composites companies accounted for 61.3 % share of the market.
- Companies are adopting various strategies such as new product launches, acquisitions, expansions, and partnerships. Some composites companies are focusing on launching new fibers and products. For instance, in 2021, A new line of aramid fiber composites for automotive applications was introduced by the composites business Hexcel Corporation. These composites are perfect for use in automotive applications since they have higher strength and are lightweight.
- A significant market for composites is North America. The primary cause of this is the region's aerospace and defense industry's high demand for carbon fiber. The region is home to many key composite companies. Cite an example, in August 2022, Today, it was disclosed that Owens Corning and Pultron Composites had inked a contract to establish a joint venture to produce fiberglass rebar that leads the market. The companies' commitment to offering more environmentally friendly product options and higher-performing concrete reinforcement products is strengthened by this collaboration. Additionally, it expands consumer access to MATEENBARTM FiberglasTM Rebar for heavy-load structural applications and PINKBAR Fiberglas Rebar for flatwork and residential applications. Both items satisfy Grade III codes set forth by ACI, ASTM, ICC-ES, and CSA, and can be used in place of steel rebar.
Frequently Asked Questions (FAQs)
Polymer Matrix Composites (PMCs): These composites are made of a polymer matrix (like epoxy, polyester, or nylon) and a reinforcing material (such as fiberglass, carbon fiber, or aramid fiber). PMCs are often used in the aerospace, automotive, and sports industries because they are strong, durable, and resistant to corrosion.
Metal Matrix Composites (MMCs): A metal matrix (like aluminium, magnesium, or titanium) and a reinforcing material make up these composites (such as ceramic particles, carbon fibers, or whiskers). MMCs are often used in aerospace and automotive parts that need to be strong, stiff, and stable at high temperatures.
Ceramic Matrix Composites (CMCs): These composites are made of a ceramic matrix (like silicon carbide or aluminium oxide) and a reinforcing material (such as carbon fibres or ceramic fibers). CMCs are often used in the aerospace, defence, and energy industries because they can withstand high temperatures, thermal shocks, and wear.
Carbon-Carbon Composites (C-C composites): Carbon fibres are woven into a carbon matrix to make these composites. C-C composites are often used in the aerospace, defence, and sports industries because they can stand up to high temperatures, are strong, and don't expand much when heated.
Each type of composite has its own properties and can be used in different situations, depending on what the situation calls for.
A composite is a material that is made of two or more different parts, each of which has its own properties. When these parts are put together, they make a material with better properties. The parts of a composite are chosen based on their desired properties, and when they are put together, they make a material that is stronger, lasts longer, or has other better qualities.
These are some examples of composites:
Fiberglass: Fiberglass is a composite material made of glass fibres and a polymer matrix, which is usually made of epoxy or polyester resin. It is strong, light, and very resistant to corrosion and changes in temperature. Fiberglass is often used to make boats, parts for cars, and parts for buildings.
Carbon fibre reinforced polymer (CFRP) is a composite material made of carbon fibres and a polymer matrix, which is usually made of epoxy resin. It is very stiff and resistant to corrosion. It is also very strong and doesn't weigh much. CFRP is often used in the aerospace industry, in cars, and in sports equipment.
Concrete is a composite material made of cement, aggregates (like sand and gravel), and water. It is strong, will last a long time, and has a good compressive strength. Concrete is often used to build the foundations, walls, and floors of buildings.
Plywood is a composite material made of thin layers of wood veneer that are stuck together with glue. It is strong, doesn't weigh much, and keeps its shape well. Plywood is often used for floors, roofs, and walls in building.
Overall, composites are versatile materials that can be used in many different ways because they have their own unique properties.
A composite material is made up of two or more different substances that have different properties when put together than when they are used alone. Fiberglass, carbon fibre composites, and concrete are all common types of composite materials. Glass fibres are mixed into a polymer matrix to make fibreglass, which is strong, light, and resistant to corrosion. Carbon fibre composites are made of carbon fibres that are glued together with a resin matrix. They are strong and stiff. Concrete is a mixture of cement, aggregates (like sand and gravel), and water. It is used a lot in construction because it is strong and lasts a long time.
Composites are materials that are made by combining two or more materials with different physical or chemical properties to make a new material that is different from its parts.
Composites are used in many ways because of their unique properties, such as their high strength, stiffness, and durability, low weight, resistance to corrosion, and ability to keep heat in. Here are a few common ways composites are used:
Aerospace: Composites are used a lot in the aerospace industry because they are light, strong for their size, and don't rust or wear out. They are used in parts of aeroplanes and rockets, like the wings, fuselage, and tail structures.
Composites are used in the automotive industry to make cars lighter and get better gas mileage. They are used to make bumpers, body panels, and other structural parts.
Construction: Composites are used in construction because they are strong for their weight, last a long time, and don't rust or catch fire. They are used to build bridges, buildings, and other kinds of infrastructure.
Sports equipment: Composites are used to make sports equipment like tennis racquets, golf clubs, and bicycles because they are strong and light.
Marine: Composites are used in the marine industry because they don't rust and don't soak up water. They are used to make the hulls and decks of boats, as well as other parts.
Composites are used in medicine because they are strong and don't harm the body. They are used in dental implants, prosthetic limbs, and other medical tools.
Overall, composites are used in many different industries because they have unique properties and can be made to fit the needs of specific applications.
Composites and alloys are both made by combining different materials, but they are made and have different properties in different ways.
Composites are made by combining two or more different materials, usually with different properties, to make a new material with better properties. Composites can be made by combining materials like fibres, particles, or flakes with a matrix material like a polymer or metal. This makes a material with different properties than the parts that make it up. Composites often have properties that make them stand out, such as high strength-to-weight ratios, resistance to corrosion, and more.
Alloys, on the other hand, are made by putting together two or more metals to make a new material with certain properties. You can make an alloy by melting two or more metals together and then letting them cool. You can also make an alloy by adding a powder of one metal to another metal or by electroplating. Alloys are made to have certain qualities, like high strength, resistance to corrosion, or high conductivity. They are often used to make structural and mechanical parts.
Composites are made by combining two or more different materials, usually with different properties, to make a new material with better properties. Composites can have different structures depending on the materials used and how they will be used, but in general, they are made of two parts: a reinforcement phase and a matrix phase.
Most of the time, the reinforcement phase is made up of fibres, particles, or flakes that give the composite the properties it needs, like strength, stiffness, or thermal conductivity. Reinforcing materials can be made from many different things, like carbon fibres, glass fibres, aramid fibres, ceramic particles, and metal flakes.
Most of the time, the matrix phase is made of a polymer or metal that holds the reinforcement materials together and moves loads between them. The matrix material is often chosen because it is tough, long-lasting, and resistant to things like water, heat, and chemicals in the environment.
Through a process called "layup" or "forming," the reinforcement and matrix materials are put together in the way that is wanted. The resulting composite structure can be made into many different shapes and sizes, like sheets, panels, tubes, and even complicated shapes like aeroplane wings.
Overall, the structure of composites depends a lot on the materials used and how they are going to be used. Composites can be made to have a wide range of properties to meet different performance needs.
Composites are widely used in engineering due to their unique properties and advantages over traditional materials. Here are some of the ways composites are used in engineering:
Aerospace: Composites are extensively used in aerospace engineering to make lightweight, strong, and durable components for aircraft and spacecraft. Composites are used for applications such as wing structures, fuselage components, and engine components.
Automotive: Composites are used in the automotive industry to make lightweight, high-strength parts that can improve performance and fuel efficiency. Composites are used for applications such as body panels, suspension components, and brake systems.
Marine: Composites are used in marine engineering to make boats, yachts, and other watercraft lighter, stronger, and more durable. Composites are used for applications such as hulls, decks, and masts.
Construction: Composites are used in construction engineering to make building materials that are lightweight, durable, and resistant to weather and other environmental factors. Composites are used for applications such as roofing materials, bridge decks, and concrete reinforcement.
Wind energy: Composites are used in wind energy engineering to make turbine blades that are lightweight, strong, and durable. Composites can enable larger and more efficient turbines to be built, which can generate more electricity.
Composites are made of two or more different types of materials. They are used in many different fields. Composites are used in some of the following industries:
Aerospace: Composites are used in the aerospace industry to make parts for planes, satellites, and rockets that are both light and strong.
Automotive: Composites are used in the auto industry to make parts for cars, trucks, and buses that are both light and strong.
Construction: Composites are used in the construction industry to make strong and long-lasting materials for buildings, bridges, and other infrastructure.
Marine: Composites are used in the sports industry to make equipment like golf clubs, tennis rackets, and hockey sticks that are both light and strong.
Sports: Composites are used in the sports industry to make equipment like golf clubs, tennis rackets, and hockey sticks that are both light and strong.
Wind energy: Composites are used in the wind energy industry to make wind turbine blades that are both light and strong.
Medical: Composites are used in the medical field to make prosthetics, implants, and other medical devices that are both strong and light.
Composites are made by putting together two or more different materials to make a new material with different properties than its parts. The properties of composites can vary depending on what kinds of materials are used and how much of each is used. However, composites tend to have the following properties:
Strength: Composites can be stronger than the materials they are made of because the combination of materials can make a stronger and stiffer material.
Lightweight: Composites can be a lot lighter than the materials they are made of. This can be important in industries where weight is important, like aerospace, auto, and sports.
Durability: Composites can be very resistant to corrosion, fatigue, and wear, which makes them last a long time.
Flexibility: Composites can be made to be flexible, which is useful for things like medical implants, where the material needs to be able to bend and fit the body.
Thermal properties: Composites can have excellent thermal properties, such as high temperature resistance or low thermal conductivity, which can be important in applications such as electronics or aerospace.
Electrical properties: Composites can have excellent electrical properties, such as high electrical conductivity or low dielectric constant, which are important in electrical and electronic applications.
These are just a few examples of the properties of composites, and different composites can be designed with specific properties for specific applications.
Yes, carbon fiber is a composite material.
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