USD 1.51 Billion
Structural Composites Market Size, Share, Growth Analysis, By Reinforcement Materials(Carbon Fiber Composites, Glass Fiber Composites, Aramid Fiber Composites, Others), By Matrix(Polymer, Metal, Wood), By End-user(Construction & infrastructure, Energy, Transportation (Automotive, Aerospace & defense), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG25F2003 |
Region:
Global |
Published Date: August, 2024
Pages:
223
|Tables:
63
|Figures:
75
Structural Composites Market Insights
Global Structural Composite Market size was valued at USD 43.92 Billion in 2022 and is poised to grow from USD 47.04 Billion in 2023 to USD 83.86 Billion by 2031, at a CAGR of 7.54% during the forecast period (2024-2031).
The global vacuum waste systems market has witnessed significant growth in recent years, driven by increasing awareness of environmental sustainability and the need for efficient waste management solutions. This market's expansion can be attributed to growing urbanization, which has led to higher population density in cities, resulting in greater waste generation. Vacuum waste systems offer an innovative and eco-friendly alternative to traditional waste collection methods. They reduce the carbon footprint associated with waste transportation, as well as minimize odors and the visual impact of waste containers in urban areas.
Moreover, government initiatives and regulations promoting sustainable waste management practices have further fueled the adoption of vacuum waste systems. Businesses and municipalities are increasingly recognizing the long-term cost savings and environmental benefits associated with these systems.
In addition to environmental advantages, vacuum waste systems offer convenience to end-users, as they eliminate the need for individual waste bins and manual collection. These systems are particularly suitable for high-rise buildings, smart cities, and urban developments aiming for improved sanitation and aesthetics.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Aerospace & Defense Segment
Fastest Growth
Aerospace & Defense Segment
Growth Rate
9.2% CAGR
Structural Composites Market by Region
Country Share for Asia Pacific (%)
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Structural Composites Market Segmental Analysis
The structural composites market can be segmented into reinforcement materials, matrix, end-user, and region. Based on reinforcement materials, the market is segmented into carbon fiber composites, glass fiber composites, aramid fiber composites, and others. Based on matrix, the market is segmented into wood, metal, and polymer. Based on end user, the market is segmented into Construction & infrastructure, Energy, Transportation (Automotive, Aerospace & defense, other transportation), Others. Geographically, the market can be divided into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
Analysis by Position
Underground vacuum waste systems currently dominate the vacuum waste systems market. They have gained prominence due to their discreet, space-saving design, making them suitable for dense urban areas. Underground systems also minimize visual clutter, enhancing the aesthetics of urban environments.
However, overground vacuum waste systems are experiencing rapid growth in recent years. Their ease of installation and lower upfront costs make them an attractive option for various settings, including residential complexes and smaller communities. Additionally, overground systems are more flexible, allowing for easier expansion and customization to meet changing waste management needs.
Analysis By End-user
The aerospace & defense segment is the largest segment of the Structural composites market, accounting for a share of over 30% in 2023. The segment is expected to continue to dominate the market during the forecast period, driven by the increasing demand for lightweight and high-performance materials in aircraft and spacecraft. Composites are used in a variety of applications in the aerospace & defense sector, including aircraft structures, helicopter blades, spacecraft, and missiles. The increasing demand for fuel-efficient aircraft is driving the demand for composites in this segment.
Moreover, the Commercial sector is the fastest-growing end-user segment in the vacuum waste systems market. This growth is driven by the need for businesses to enhance waste management efficiency, reduce operational costs, and demonstrate environmental responsibility. Vacuum waste systems streamline waste collection for commercial establishments, leading to improved hygiene, reduced truck traffic, and minimized environmental impact, making them an increasingly popular choice among businesses seeking sustainable and efficient waste solutions.
Structural Composites Market by Reinforcement Materials
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Structural Composites Market Regional Insights
Asia Pacific currently dominates the global vacuum waste systems market. This dominance can be attributed to rapid urbanization, population growth, and increasing infrastructure development in countries like China and India. The rising demand for efficient waste management solutions in densely populated urban areas has spurred the adoption of vacuum waste systems.
However, North America is the fastest-growing region in the Global Vacuum Waste Systems Market. This growth is driven by heightened environmental awareness, stringent waste management regulations, and a growing trend towards smart city initiatives. North American cities are increasingly investing in advanced waste management technologies like vacuum waste systems to enhance sustainability, reduce operational costs, and improve overall quality of life. The region's commitment to modernizing urban infrastructure positions it as a key growth area for vacuum waste system adoption.
Structural Composites Market by Region
- Largest
- Fastest
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Structural Composites Market Dynamics
Drivers
Environmental Sustainability
- Governments, municipalities, and businesses worldwide are increasingly focused on reducing their environmental footprint and achieving waste reduction targets. Vacuum waste systems offer a more eco-friendly waste collection and disposal method by reducing emissions from waste transportation vehicles, minimizing landfill usage, and promoting recycling. This alignment with sustainability goals and environmental regulations drives the demand for vacuum waste systems as a greener alternative to conventional waste management methods.
Restraints
High Initial Costs
- One significant restraint in the adoption of vacuum waste systems is the high initial capital investment required for the installation and implementation of this technology. The cost includes the installation of pneumatic infrastructure and the purchase of specialized equipment. This financial barrier can deter some municipalities and property developers from embracing vacuum waste systems, especially in regions with budget constraints or limited access to financing.
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Structural Composites Market Competitive Landscape
The competitive landscape in the global vacuum waste systems market is characterized by a diverse array of companies offering innovative waste management solutions. These companies are engaged in research and development efforts to enhance the efficiency, reliability, and sustainability of vacuum waste systems.
Market players are also focusing on expanding their geographic reach and forming strategic partnerships to tap into emerging markets. Additionally, customization of vacuum waste systems to meet the unique needs of various industries and urban settings remains a key strategy to stay competitive in this dynamic market.
As sustainability becomes a top priority for businesses and governments, competition in the vacuum waste systems sector is expected to intensify further, driving innovation and technological advancements.
Top Player’s Company Profiles
- Hexcel Corporation - United States
- Owens Corning - United States
- Toray Industries - Japan
- Teijin Limited - Japan
- SGL Carbon - Germany
- Mitsubishi Chemical Holdings - Japan
- Gurit Holding AG - Switzerland
- Solvay S.A. - Belgium
- Axiom Materials, Inc. - United States
- Cytec Solvay Group (now part of Hexcel) - United States
- Hyosung Advanced Materials - South Korea
- Henkel AG & Co. KGaA - Germany
- TPI Composites, Inc. - United States
- Park Aerospace Corp - United States
- Gurit Group - Switzerland
- Tencate Advanced Composites (now part of Toray) - Netherlands
- Renegade Materials Corporation - United States
- Mitsubishi Rayon Co., Ltd. (now part of Mitsubishi Chemical) - Japan
- Huntsman Corporation - United States
- SABIC (Saudi Basic Industries Corporation) - Saudi Arabia
Recent Developments
- April 2023: The city of San Francisco, California, announced that it will be installing a new vacuum waste system in its downtown core. The system is expected to be completed in 2025 and will be one of the largest vacuum waste systems in the United States.
- May 2023: The government of India announced that it will be providing financial assistance to municipalities to install vacuum waste systems. The program is expected to help improve waste management in India and reduce pollution.
- June 2023: The European Union announced that it will be investing €1 billion in the development of new vacuum waste technologies. The investment is part of the EU's Green Deal, which is a plan to make Europe climate neutral by 2050.
Structural Composites Key Market Trends
- Increasing Adoption in Aerospace and Automotive Industries: Structural composites, such as carbon fiber-reinforced composites, were experiencing growing adoption in the aerospace and automotive industries. These materials are known for their high strength-to-weight ratio, which makes them attractive for applications were reducing weight while maintaining strength is crucial. In the aerospace sector, composites were used in aircraft components like wings and fuselages, while in the automotive sector, they found use in body panels and chassis components.
- Sustainability and Recycling Initiatives: Sustainability was becoming a significant trend in the structural composites market. Companies were increasingly focused on developing composites that are more environmentally friendly and easier to recycle. This trend was driven by both regulatory pressures and consumer demand for eco-friendly products. Innovations in recycling processes for composite materials were gaining attention, as they could reduce the environmental impact of these materials and make them more attractive to a wider range of industries.
- Advancements in Manufacturing Technologies: The structural composites industry was experiencing continuous advancements in manufacturing technologies. Automation, robotics, and 3D printing were being integrated into the production process to improve efficiency and reduce costs. Automated layup processes and out-of-autoclave curing methods were among the innovations that were helping to streamline production and expand the range of applications for composites.
Structural Composites Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Product types team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, the global structural composites market holds promising prospects as industries increasingly seek lightweight, durable, and sustainable materials. The growing demand for fuel-efficient transportation, renewable energy solutions, and infrastructure development is driving the adoption of structural composites. Advancements in composite manufacturing technologies and a focus on reducing carbon emissions further bolster market growth. Additionally, the aerospace, automotive, and construction sectors are poised for substantial expansion. However, challenges like material cost and recycling remain, but ongoing research and innovation are expected to address these issues, ensuring a bright future for the global structural composites market.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 43.92 Billion |
| Market size value in 2031 | USD 83.86 Billion |
| Growth Rate | 7.54% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Structural Composites Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Structural Composites Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Structural Composites Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Structural Composites Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Structural Composites Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Structural Composites Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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