Transportation Composites - Global Market Outlook (2019 -2027)
According to Stratistics MRC, the Global Transportation Composites Market is accounted for $30.03 billion in 2019 and is expected to reach $88.73 billion by 2027 growing at a CAGR of 14.5% during the forecast period. Increasing demand for light-weight materials and fuel-efficient vehicles and growing usage of composites in commercial aircraft are the major factors propelling the market growth. However, high processing and manufacturing cost are hampering the market growth.
Transportation composites are widely used in aquatic, aerospace & defense, and automotive, along with other business. Composites offer higher properties, such as high abrasion resistance, improved stiffness, high modulus, excellent strength, low density, outstanding chemical resistance, and low creep, which build them suitable for use in automotive machinery, internal car panels, aircraft structures, and others.
Based on the application, the interior segment is going to have a lucrative growth during the forecast period owing to their advanced properties, such as strength, durability, low weight, and resistance to heat, temperature, and wetness, transportation composites are broadly used for interior applications in the automotive and aerospace industries.
By geography, North America is estimated to have a lucrative growth owing to the replacement of old and inefficient aircraft provide ample opportunities for the transportation composites market in this region.
Some of the key players profiled in the Transportation Composites Market include Royal DSM, Toray Industries Inc., Teijin Limited , Solvay, Mitsubishi Chemical Holdings Corporation, Gurit Holding AG, Jushi Group, SGL Group, Owens Corning, Hexcel Corporation, Norco Composites & Grp, Bombardier, Lockheed Martin, Feadship and Lee Aerospace .
Manufacturing Processes Covered:
• Injection Molding Process
• Resin Transfer Molding Process (RTM)
• Compression Molding Process
Transportation Types Covered:
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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