Mexico Composites Market Size & Outlook, 2022-2030
Mexico composites market, 2018-2030 (US$M)
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Mexico composites market highlights
- The Mexico composites market generated a revenue of USD 3,630.8 million in 2022 and is expected to reach USD 5,807.8 million by 2030.
- The Mexico market is expected to grow at a CAGR of 6% 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 3,630.8 million |
| Market revenue in 2030 | USD 5,807.8 million |
| Growth rate | 6% (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, Mexico accounted for 3.9% 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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Mexico 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 53.64% in 2022. Horizon Databook has segmented the Mexico composites market based on carbon fiber, glass fiber others covering the revenue growth of each sub-segment from 2018 to 2030.
Ongoing research and development activities and mounting awareness towards fuel efficiency are generating a favorable environment for the automobile market in Mexico. Moreover, the presence of multinational automakers in the country coupled with the growing trends for lightweight vehicles for increased fuel economy is expected to increase the utilization of composites in the country.
According to American Industries Group, in 2021 Mexico is the primary motor vehicle exporter to the U.S. and is the 5th largest producer of auto-parts in the world. The automotive industry in Mexico is expected to witness high growth owing to large investments from automotive manufacturers.
Chrysler, Ford, GM, Mazda, Honda, Nissan, Toyota, and Volkswagen are the major players in this region. Manufacturers including Bavarian Motor Works and KIA have invested in manufacturing facilities in Mexico.
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Our clientele includes a mix of composites market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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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 Mexico composites market , including forecasts for subscribers. This country databook contains high-level insights into Mexico composites market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Mexico composites market size, by product, 2018-2030 (US$M)
Mexico Composites Market Outlook Share, 2022 & 2030 (US$M)
Related regional statistics
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