DUBLIN--(BUSINESS WIRE )--The "Composites Market: Trends, Opportunities and Competitive Analysis" report has been added to ResearchAndMarkets.com's offering.

The global composites market is expected to reach an estimated $60.6 billion by 2027 with a CAGR of 5.2% from 2021 to 2027.

The future of the composites market looks promising with opportunities in the transportation, marine, wind energy, aerospace, pipe & tank, construction, E&E, consumer goods, and others end uses.

The major drivers for growth in this market are increasing demand for lightweight materials in the aerospace & defense and automotive industries; corrosion- and- chemical-resistant materials' demand in construction, and pipe & tank industries; electrical resistivity and high flame retardant materials' demand in the electrical and electronics industry.

Emerging trends, which have a direct impact on the dynamics of the industry, are the development of low-cost carbon fibers, high performance glass fiber, and rapid cure resin system.

In this market, transportation is the largest end use industry, whereas injection molding is the largest manufacturing process segment.

The analyst forecasts that Injection molding is expected to be the largest process in terms of value and volume over the forecast period in composite manufacturing because of high-output production rate, low labor cost, and design flexibility.

Transportation will remain the largest end use market due to the increasing production and use of lightweight materials in transportation market. The analyst predicts that aerospace is expected to witness the highest growth over the forecast period.

Asia Pacific is expected to remain the largest region by value and volume, and it is also expected to experience the highest growth over the forecast period because of growth in construction, transportation, and the electrical and electronics segments. The major drivers for growth are increasing automotive production, high growth in construction, and infrastructure development.

Some of the composites companies profiled in this report include Owens Corning, Jushi, Nippon Electric, Toray Industries, and Hexcel Corporation.

Features of the Composites Market

Innovations in the Composites Industry

Value Chain Analysis and Industry Leaders

Materials and Technology Needs for the Future Composites Industry

For more information about this report visit https://www.researchandmarkets.com/r/f9us30

ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900

ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900