Browse 351 market data Tables and 74 Figures spread through 306 Pages and in-depth TOC on “Transportation Composites Market
The Transportation Composites Market is set for robust growth, driven by increasing demand for lightweight, durable materials in automotive, aerospace, and rail industries. Enhanced fuel efficiency and reduced emissions are key benefits, positioning composites as a critical component in modern transportation.
The global transportation composite market size was valued at approximately USD 44.7 billion in 2024 and is expected to reach to reach USD 81.4 billion by 2029, projecting a CAGR of 12.7% during the forecast period between 2024 and 2029. This report provides an in-depth evaluation of the market, focusing on transportation composites market size [https://www.marketsandmarkets.com/Market-Reports/transportation-composites-market-175821588.html?utm_source=abnewswire.com&utm_medium=referral&utm_campaign=transportationcomposites], trends, drivers, challenges, competitive landscape, and future growth potential. Materials created by mixing two or more basic materials with noticeably distinct physical or chemical properties are referred to as transportation composites. Transportation composites are used for engine, exterior, interior, and other applications in a variety of industries, including aerospace and automotive. Transportation composites are becoming more and more in demand because to their high strength and lightweight characteristics, which greatly improve vehicle fuel efficiency.
The aerospace and defense sector stands as the primary consumer in the transportation composites market, driven by the pursuit of reduced weight and heightened fuel efficiency. Furthermore, because of their better strength-to-weight ratios, these composites enable more aerodynamic and streamlined structural designs. Developed countries are especially likely to use composite materials in order to meet the regulatory requirements set forth by aviation authorities, particularly when it comes to replacing outdated aircraft. These materials are a good choice for updating older aircraft fleets because of their remarkable strength-to-weight ratios, corrosion resistance, and lightweight characteristics. The use of these cutting-edge materials is further required by the strict safety and environmental regulations enforced by regulatory agencies like the European Aviation Safety Agency (EASA) and the Federal Aviation Administration (FAA) in the United States.
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Transportation Composites Market Key Players
Prominent players, include Hexcel Corporation (US), Mitsubishi Chemical Holdings Corporation (Japan), Owens Corning (US), Toray Industries Inc. (Japan), Teijin Limited (Japan), Syensqo SA (Belgium), Jushi Group Co. Ltd. (China), and SGL Group (Germany), among others. These players have adopted various growth strategies to strengthen their position in the market. These include product launches, contracts, partnerships, mergers and acquisitions, and new product development activities to expand their presence in the transportation composite market further.
Toray Industries, Inc
With its headquarters located in Japan, Toray Industries Inc. is a worldwide company that is well-known for being one of the world’s leading producers of industrial materials. It has developed into a multifaceted organization that works in a variety of industries, including life sciences, carbon fiber composite materials, IT-related goods, polymers and chemicals, and fibers and textiles. The wide range of industries covered by Toray’s business portfolio includes automotive, aerospace, electronics, healthcare, and environmental solutions. Toray is a well-known manufacturer of carbon fiber composite materials with an unwavering dedication to innovation and sustainability. The company provides lightweight, highly durable solutions to the aerospace, automotive, and sports goods industries. For use in automotive, marine, commercial, and transportation applications, Toray provides carbon composites through its US-based subsidiary, Zoltek Composites, Inc. Operating in 29 countries, the corporation has production and research centers spanning North America, Latin America, Europe, Africa, and Asia. Toray Industries Inc. is a worldwide recognized company with 283 subsidiaries, including 180 abroad and 103 in Japan.
Teijin Limited
Teijin Limited is a Japanese conglomerate that produces, processes, and distributes chemical products to a range of industries. These industries include healthcare, films, polyester fibers, resin and plastic processing, IT products, and high-performance fibers like aramid and carbon fibers. Teijin is a renowned provider of cutting-edge solutions for a range of sectors, including electronics, healthcare, energy, and transportation. The corporation operates in more than 20 countries and has a wide worldwide footprint with production facilities spread across North America, Europe, and the Asia Pacific region.
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Glass fiber composites segment has the largest market share in transportation composites market, in terms of volume.
In terms of volume, glass fiber composites rule the transportation composites market. Strength, flexibility, stability, longevity, lightweight construction, and resilience to heat, moisture, and temperature fluctuations are just a few of their many benefits. Glass fiber is widely used in the production of underbody systems, deck lids, front end modules, bumper beams, engine covers, instrument panels, and air ducts, among other automotive components. It is ideal for a wide range of applications because of its exceptional qualities, which include strength, flexibility, stability, durability, and resistance to heat, temperature, and moisture. It is also lightweight.
Thermoset resin segment to be the largest segment in composites market in 2023.
Thermoset resins hold the highest market share in terms of volume and value within the transportation composites industry. These resins are preferred because of their exceptional mechanical qualities, which include high stiffness, strength, and fatigue and impact resistance. In a variety of transportation applications, including aerospace, automotive, rail, and marine, where lightweight materials with outstanding performance qualities are crucial, they are indispensable. Thermoset resins are perfect for components exposed to high loads and environmental pressures because of their curing process, which produces a strong and robust material. Furthermore, the superior adherence of these materials to reinforcing fibers, such carbon or glass, amplifies the overall durability and performance of composite constructions.
Interior application segment to grow with the highest CAGR during forecast period.
The transportation composites market’s interior applications sector has the highest compound annual growth rate (CAGR). There are a number of reasons for this industry’s quick expansion, including demand and innovation. Manufacturers are resorting to composite materials to fulfill the changing demands of consumers who are prioritizing comfort, aesthetics, and functionality in automobiles. Composite interior components provide many benefits, such as lightweight construction, increased durability, better aesthetics, and customized alternatives. Additionally, composites have superior thermal and acoustic insulation qualities, which make the cabin atmosphere cozier and quieter. Apart from conventional car interiors, the growing appeal of electric and self-driving cars increases the need for cutting-edge materials that support creative interior designs and integrated technologies.
The compression molding process holds the largest market share in the global transportation composites market
The compression molding manufacturing process holds the largest share in the transportation composites market, reflecting its widespread adoption and effectiveness in producing high-quality composite components. The dominance of compression molding in transportation applications can be ascribed to multiple variables. First off, compression molding is a viable option for mass producing automotive and aerospace components because to its cost-effectiveness and scalability. Furthermore, the method enables the creation of elaborate designs and complicated shapes, allowing manufacturers to satisfy the exacting performance and aesthetic standards of contemporary automobiles. Additionally, compression molding guarantees optimal fiber orientation and consolidation, producing composites with improved structural integrity and mechanical qualities. Its adaptability also encompasses a broad spectrum of materials, including as fiberglass, carbon fiber, and other resin systems, allowing for flexibility in material selection to suit particular application requirements.
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Airways segment accounted for the largest segment in terms of value in 2023
Given the critical role that composite materials play in the aerospace industry, the airways transportation segment stands out as the market leader in terms of value for transportation composites. Numerous variables that highlight the unmatched advantages of composites in airplane manufacturing contribute to this dominance. Because of their remarkable strength-to-weight ratio and durability, composites are an appealing option for airlines looking to increase fuel efficiency, lower emissions, and improve performance. A noteworthy example of this trend is the Boeing 787 Dreamliner case study.
The Boeing 787 Dreamliner uses a lot of composite materials in its construction; over 50% of its airframe is composed of these materials, which include carbon fiber-reinforced polymers (CFRP). In comparison to conventional airplanes with aluminum bodies, the Dreamliner has been able to achieve significant weight savings through the strategic use of composites, which has increased fuel efficiency and reduced operating costs.
Asia Pacific region to be the fastest growing regional market in transportation composites
The transportation composites market has grown significantly in the Asia Pacific region, which has one of the highest Compound Annual Growth Rates (CAGR) in the world. Numerous variables, including the fast pace of industrialization, rising disposable income, and the growing emphasis on lightweight and fuel-efficient automobiles, can be contributed to this spike. One example is the considerable movement in the car industry in China towards the use of composite materials in manufacture. Automobile manufacturers are using composites to lighten vehicles without sacrificing structural integrity in response to stricter emission rules and rising demand for electric vehicles (EVs). Furthermore, the aerospace sector in nations such as South Korea and Japan is adopting composites in aircraft construction to improve fuel efficiency and lower maintenance costs.
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