Latin America Composites Market Size & Outlook, 2022-2030
Latin America composites market, 2018-2030 (US$M)
Related Markets
Latin America composites market highlights
- The Latin America composites market generated a revenue of USD 6,697.4 million in 2022.
- The market is expected to grow at a CAGR of 6.8% 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.
- Country-wise, Brazil is expected to register the highest CAGR from 2023 to 2030.
Latin America data book summary
| Market revenue in 2022 | USD 6,697.4 million |
| Market revenue in 2030 | USD 11,364.2 million |
| Growth rate | 6.8% (CAGR from 2022 to 2030) |
| Largest segment | Glass fiber others |
| Fastest growing segment | Carbon Fiber |
| Historical data covered | 2018 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 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, Latin America region accounted for 7.1% of the global composites market in 2022.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 81,093.5 million by 2030.
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Composites Market Scope
Composites Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America 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 57.48% in 2022. Horizon Databook has segmented the Latin America composites market based on carbon fiber, glass fiber others covering the revenue growth of each sub-segment from 2018 to 2030.
Central & South America is one of the most lucrative markets for composites. Moreover, in recent years, the regional market exhibited relatively solid growth in construction, especially in Brazil is expected to augment demand for composites.
The regional and local market players are finding the market attractive on account of robust growth in end-use industries. In addition, the cost of composites in Central & South America is relatively lower than that in Europe and North America.
Expanding aerospace and defense industries in Brazil, Argentina, and Colombia are likely to generate high demand for composites. Manufacturers operating MRO facilities such as GE, Rolls-Royce, Pratt & Whitney Canada, and Goodrich are based in Brazil.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America composites market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America composites market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America composites market size, by country, 2018-2030 (US$M)
Latin America Composites Market Outlook Share, 2022 & 2030 (US$M)
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