Overview and Scope
Transportation composites are materials created by mixing two or more natural or synthetic elements (with various physical or chemical qualities) and are more powerful when used collectively than when used alone. Transportation composites are used in Trains, planes, trucks, and other automobiles because they are lighter and more durable, increasing fuel efficiency and longevity.
Sizing and Forecast
The transportation composites market size has grown rapidly in recent years. It will grow from $64.02 billion in 2023 to $70.46 billion in 2024 at a compound annual growth rate (CAGR) of 10.1%. The growth in the historic period can be attributed to automotive industry growth, weight reduction demands, fuel efficiency goals, safety and crash performance, cost reduction initiatives, advancements in raw materials, increased production efficiency, infrastructure development..
The transportation composites market size is expected to see rapid growth in the next few years. It will grow to $104.09 billion in 2028 at a compound annual growth rate (CAGR) of 10.2%. The growth in the forecast period can be attributed to stricter emission standards, urbanization and infrastructure needs, emerging market opportunities, biocomposites adoption, government r&d funding, rising consumer preferences.. Major trends in the forecast period include recyclability and sustainability, integration of smart materials, strategic partnerships and collaborations, resin matrix advancements..
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Segmentation & Regional Insights
The transportation composites market covered in this report is segmented –
1) By Resin: Thermoset, Thermoplastic
2) By Material Type: Glass Fiber, Natural Fiber, Carbon Fiber Composite, Aramid Fiber
3) By Manufacturing Process: Compression Molding, Injection Molding, Resin Transfer Molding, Other Manufacturing Processes
North Americawas the largest region in the transportation composites market in 2023. The regions covered in the transportation composites market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The growing automotive industry is driving the growth of the transportation composites market. The automotive industry is engaged in the design, development, marketing, and sale of automobiles. The increasing income and standard of living have led to increased demand for automobiles. Automobiles employ transportation composites for excellent strength and weight reduction of vehicles. For instance, according to a study released by the European Automobile Manufacturers Association in April 2022, 79.1 million automobiles were produced globally in 2021, rising 1.3% from the previous year. Therefore, the increasing demand for automobiles is expected to propel the growth of the transportation composites market.
Key Industry Players
Major companies operating in the transportation composites market report are Hexcel Corporation, Mitsubishi Chemical Holdings Corporation, Owens Corning, Toray Industries Inc., Teijin Limited, Solvay S.A., Jushi Group Co. Ltd., SGL Carbon SE, Gurit Holding AG, Koninklijke DSM N.V., Huntsman Corporation LLC, DuPont de Nemours Inc., China Jushi Co. Ltd., Weyerhaeuser Company, Momentive Performance Materials Inc., Veplas Group, B&T Composites SA, Champion Fiberglass Inc., Compotech Inc., Creative Composites Group, GSE Dynamics Inc., Middle River Aerostructures Systems, Nammo Composite Solutions LLC, Shellback Canvas LLC, 3M Company, BASF SE, Henkel AG & Co. KGaA, Saudi Basic Industries Corporation, Arkema S.A., Evonik Industries AG
The transportation composites market report table of contents includes:
1. Executive Summary
2. Transportation Composites Market Characteristics
3. Transportation Composites Market Trends And Strategies
4. Transportation Composites Market – Macro Economic Scenario
5. Global Transportation Composites Market Size and Growth
…
31. Global Transportation Composites Market Competitive Benchmarking
32. Global Transportation Composites Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Transportation Composites Market
34.Transportation Composites Market Future Outlook and Potential Analysis
35. Appendix
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