North America Composites Market Size & Outlook, 2022-2030
North America composites market, 2018-2030 (US$M)
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North America composites market highlights
- The North America composites market generated a revenue of USD 20,289.2 million in 2022.
- The market is expected to grow at a CAGR of 5.8% 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, Canada is expected to register the highest CAGR from 2023 to 2030.
North America data book summary
| Market revenue in 2022 | USD 20,289.2 million |
| Market revenue in 2030 | USD 31,845.6 million |
| Growth rate | 5.8% (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, North America region accounted for 21.7% 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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North 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 57.28% in 2022. Horizon Databook has segmented the North America 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 in North America is driven by the robust growth of aerospace & defense, and wind energy harnessing industries. North America, particularly the U.S. is an important manufacturer of commercial aircraft, cargo jets, large passenger aircraft, and defense aircraft.
In addition, the automobile manufacturing industries in the country have exhibited a high penetration of composites for the production of critical automobile components and are likely to drive the demand over the forecast period.
The demand for composites in aircraft application is driven by increasing usage by the major aircraft manufacturers such as Airbus S.A.S, and Boeing. Carbon fiber composites are expected to witness significant growth on account of factors such as increasing preference in commercial aircraft interiors such as ceiling panels, bulkheads, floorboards, cabin dividers, and galleys along with an increase in passenger traffic.
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Horizon Databook provides a detailed overview of continent-level data and insights on the North America composites market , including forecasts for subscribers. This continent databook contains high-level insights into North America composites market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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North America composites market size, by country, 2018-2030 (US$M)
North America Composites Market Outlook Share, 2022 & 2030 (US$M)
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