Canada Composites Market Size & Outlook, 2022-2030
Canada composites market, 2018-2030 (US$M)
Related Markets
Canada composites market highlights
- The Canada composites market generated a revenue of USD 1,837.3 million in 2022 and is expected to reach USD 3,046.2 million by 2030.
- The Canada market is expected to grow at a CAGR of 6.5% from 2023 to 2030.
- In terms of segment, glass fiber others was the largest revenue generating product in 2022.
- Carbon Fiber is the most lucrative product segment registering the fastest growth during the forecast period.
Composites market data book summary
| Market revenue in 2022 | USD 1,837.3 million |
| Market revenue in 2030 | USD 3,046.2 million |
| Growth rate | 6.5% (CAGR from 2022 to 2030) |
| Largest segment | Glass fiber others |
| Fastest growing segment | Carbon Fiber |
| Historical data | 2018 - 2021 |
| Base year | 2022 |
| Forecast period | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Carbon Fiber, Glass Fiber Others |
| Key market players worldwide | Teijin Ltd, Toray Industries Inc, Owens-Corning Inc, PPG Industries Inc, Huntsman Corp, SGL Group, Hexcel Corp, DuPont de Nemours Inc, Compagnie de Saint-Gobain SA, Weyerhaeuser Co, Cytec Industries, Jushi, KINECO, Momentive, Veplas Group |
Other key industry trends
- In terms of revenue, Canada accounted for 2.0% of the global composites market in 2022.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. composites market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 3,046.2 million by 2030.
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Composites Market Scope
Composites Market Companies
| Name | Profile | # Employees | HQ | Website |
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Canada composites market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to composites market will help companies and investors design strategic landscapes.
Glass fiber others was the largest segment with a revenue share of 59.4% in 2022. Horizon Databook has segmented the Canada composites market based on carbon fiber, glass fiber others covering the revenue growth of each sub-segment from 2018 to 2030.
The demand for composites is expected to be driven by the increasing wind turbine installation in Canada. According to Canada Energy Regulator, the installed wind turbine capacity has increased more than six times since 2009 compared to 2019.
Some of the major wind turbine manufacturers and OEMs operating in Canada are ENERCON GmbH, ACCIONA, S.A., Vestas Wind Systems A/S, Senvion S.A., General Electric, and Siemens Gamesa Renewable Energy, S.A. Advancement in automobile technology coupled with a supportive infrastructure and government initiatives is anticipated to boost the Canadian automobile market.
Growing demand for light commercial vehicles and development in fuel-efficient vehicles results in rising demand for automotive composites in the country. Glass-based fiber composites are dominating the Canadian market owing to their wide suitability and low cost.
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Our clientele includes a mix of composites market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the Canada composites market , including forecasts for subscribers. This country databook contains high-level insights into Canada composites market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Canada composites market size, by product, 2018-2030 (US$M)
Canada Composites Market Outlook Share, 2022 & 2030 (US$M)
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