Press Release / Blogging & Social Media / global composite materials market is expected to reach $39.1 billion by 2022

global composite materials market is expected to reach $39.1 billion by 2022

According to a new market report published by Lucintel, the future of the global composites market looks attractive, with opportunities in the transportation, construction, wind energy, pipe & tank, marine, consumer goods, electrical and electronic, aerospace and others. The global composite materials market is expected to reach an estimated $38.5 billion by 2022 and it is forecast to grow at a CAGR of 4.9% from 2017 to 2022. The global composites end product market is expected to reach an estimated $109.4 billion by 2022. The major drivers for growth in this market are 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.

In this market, transportation, construction, pipe and tank, electrical and electronics, consumer goods and wind energy are the major end use industries. On the basis of its comprehensive research, Lucintel forecasts that the segments of aerospace and wind energy are expected to show average growth during the forecast period from 2017 to 2022.

Within the global composites market, Injection molding, hand layup, compression molding, spray up, filament winding, resin infusion, and prepreg layup are some of the major processes utilized to manufacture composites part. Injection molding is expected...Read more
http://www.lucintel.com/composites-industry-2017-2022.aspx