Market revenue in 2022 | USD 21,248.1 million |
Market revenue in 2030 | USD 40,828.0 million |
Growth rate | 8.5% (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 |
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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 65.31% in 2022. Horizon Databook has segmented the China composites market based on carbon fiber, glass fiber others covering the revenue growth of each sub-segment from 2018 to 2030.
China is one of the world’s largest manufacturer of electronics and electrical components. Hence, the country contributes substantially to the overall composite market. The market is further expected to grow owing to an increase in the demand for composites used across various applications in the medical devices, transportation, construction, and others.
China held a 53% market share of the world's new energy passenger vehicle sales in 2021 with a total of 3.31 million sold. An increase in the production of lightweight vehicles is projected to drive the demand for lightweight materials including composites over the forecast period.
Increasing electronic gadgets demand specifically in China and India is expected to drive market growth over the forecast period. Rising living standards coupled with the increasing miniaturization of electronic devices are anticipated to complement the demand for composites.
Horizon Databook provides a detailed overview of country-level data and insights on the China composites market , including forecasts for subscribers. This country databook contains high-level insights into China composites market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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