Comparing 25 vendors in Composites Market across 83 criteria.
Access Research
POWERED BY MARKETSANDMARKETS
Apr 02, 2023
360 Quadrants produces a list of “Top 25 Composites Companies, Worldwide 2023”, in partnership with MarketsandMarkets. The report recognizes the standouts in the Composites market ranging from mid-sized enterprises to fortune 500 companies existing in the market. The composites vendors evaluation was conducted over 200 companies of which top 25 were categorized and recognized as the new economic quadrant leaders.
- The composites market is anticipated to grow at a CAGR of 8.2% between 2022 and 2027 because of the substantial demand from numerous end-use industries around the world. It was worth USD 103.6 billion in 2021, and by 2027, it's expected to be worth USD 168.6 billion.
- Between 2022 and 2027, wind energy is expected to be the composites market's fastest-growing end-use industry. The rise in onshore and offshore wind energy capacity installations is to blame for this.
- Due to their low price and favorable physical and mechanical characteristics, such as strength, endurance, flexibility, stability, and light weight, glass fiber composites dominated the worldwide composites market in terms of volume and value in 2021.
- In 2021, the Asia Pacific composites market had a value of USD 32,900.5 million, and between 2022 and 2027, it is anticipated to grow at a CAGR of 8.9%. Due to the significant demand from the wind energy, pipes and tanks, electrical & electronics, and construction & infrastructure sectors in nations like China, Japan, India, and South Korea, Asia Pacific is the largest market.
- The demand for composites in the corresponding end-use sectors is anticipated to increase due to the rising number of wind installations and aircraft deliveries globally. Due to the expansion of the transportation sector and strict environmental laws for developing lighter and more fuel-efficient vehicles, the demand for composites from the transportation sector is anticipated to rise.
- The top players in composites market are Owens Corning (U.S.), Toray Industries Inc. (Japan.), Teijin limited (Japan), SGL Group (Germany), DAIB Group (Sweden), Celanese Corporation (U.S.), Mitsubishi Corp. (Japan.) and Others.
- New Product launches, expansion and acquisition are the major strategies to boost their market position. Owens Corning has been focused on strengthening its material science expertise, it developed Aerogel, a new solution for the electric vehicle applications and several other products for the offsite construction. In 2021, the company able to accelerate new product launches by more than 30% and has also increased its R&D investments by 15%.
- In addition to developing their global footprint, businesses are extending their regional reach to offer their experience in composites and extensive industry knowledge. The manufacturing companies such Toray, SGL, and Mitushi Corporation have increased the production facilities. In March 2022, Mitsubishi Chemical Corporation established a new pilot facility at Chiyoda-ku, Tokyo for carbon fiber reinforced thermoplastic (CFRTP). Operations have started, and samples will begin shipping in April 2022. The purpose of this new facility was to develop new products capable of fulfilling increasingly diverse and sophisticated customer needs and by providing optimal and timely solutions to the mobility sector.
- Solvay released LTM 350, a next-generation carbon fiber epoxy prepreg tooling material designed to bring considerable time and cost reductions for the industrial, aerospace, automotive, and race car applications, in September 2022, to continue its commitment to helping OEMs, subcontractors, and tool makers in the composites industry reach ambitious productivity targets.
The Full List
The Full List
| Logo | Rank & Company | Headquarters | Year Founded | Holding Type |
|---|---|---|---|---|
 |
1. Teijin | Chiyoda, Japan | 1918 | Public |
 |
2. Owens Corning | Toledo, USA | 1938 | Public |
 |
3. Hexcel | Stamford, USA | 1946 | Public |
 |
4. Toray | Tokyo, Japan | 1926 | Public |
 |
5. Solvay | Brussels, Belgium | 1862 | Public |
 |
6. SGL | Wiesbaden, Germany | 1992 | Public |
 |
7. BASF | Ludwigshafen, Germany | 1865 | Public |
 |
8. Mitsubishi Corp. | Chiyoda, Japan | 2005 | Public |
 |
9. Johns Manville | Denver, USA | 1858 | Private |
 |
10. Celanese | Irving, USA | 1912 | Public |
 |
11. Lanxess | Cologne, Germany | 1862 | Public |
 |
12. RTP | Winona, USA | 1982 | Private |
 |
13. Sabic | Riyadh, Saudi Arabia | 1976 | Public |
 |
14. Plasticomp | Winona, USA | 2003 | Private |
 |
15. Gurit | Wattwil, Switzerland | 1834 | Public |
 |
16. HC Composite | Tarboro, USA | 2009 | Private |
 |
17. DowAksa | Farmington Hills, USA | 2012 | Private |
 |
18. Trex | Winchester, USA | 1996 | Public |
 |
19. Daicel | Oofukachou, Japan | 1919 | Public |
 |
20. Kordsa | Istanbul, Turkey | 1973 | Public |
 |
21. Green Dot Bioplastics | Pasadena, USA | 2011 | Private |
 |
22. UPM | Helsinki, Finland | 1996 | Public |
 |
23. ST Composites | Chennai, India | 2014 | Private |
 |
24. PRF Composite | Poole, England | 1982 | Private |
 |
25. TCR | West Ogden, USA | 1996 | Private |
Frequently Asked Questions (FAQs)
Polymer Matrix Composites (PMCs): These composites are made of a polymer matrix (like epoxy, polyester, or nylon) and a reinforcing material (such as fiberglass, carbon fiber, or aramid fiber). PMCs are often used in the aerospace, automotive, and sports industries because they are strong, durable, and resistant to corrosion.
Metal Matrix Composites (MMCs): A metal matrix (like aluminium, magnesium, or titanium) and a reinforcing material make up these composites (such as ceramic particles, carbon fibers, or whiskers). MMCs are often used in aerospace and automotive parts that need to be strong, stiff, and stable at high temperatures.
Ceramic Matrix Composites (CMCs): These composites are made of a ceramic matrix (like silicon carbide or aluminium oxide) and a reinforcing material (such as carbon fibres or ceramic fibers). CMCs are often used in the aerospace, defence, and energy industries because they can withstand high temperatures, thermal shocks, and wear.
Carbon-Carbon Composites (C-C composites): Carbon fibres are woven into a carbon matrix to make these composites. C-C composites are often used in the aerospace, defence, and sports industries because they can stand up to high temperatures, are strong, and don't expand much when heated.
Each type of composite has its own properties and can be used in different situations, depending on what the situation calls for.
A composite is a material that is made of two or more different parts, each of which has its own properties. When these parts are put together, they make a material with better properties. The parts of a composite are chosen based on their desired properties, and when they are put together, they make a material that is stronger, lasts longer, or has other better qualities.
These are some examples of composites:
Fiberglass: Fiberglass is a composite material made of glass fibres and a polymer matrix, which is usually made of epoxy or polyester resin. It is strong, light, and very resistant to corrosion and changes in temperature. Fiberglass is often used to make boats, parts for cars, and parts for buildings.
Carbon fibre reinforced polymer (CFRP) is a composite material made of carbon fibres and a polymer matrix, which is usually made of epoxy resin. It is very stiff and resistant to corrosion. It is also very strong and doesn't weigh much. CFRP is often used in the aerospace industry, in cars, and in sports equipment.
Concrete is a composite material made of cement, aggregates (like sand and gravel), and water. It is strong, will last a long time, and has a good compressive strength. Concrete is often used to build the foundations, walls, and floors of buildings.
Plywood is a composite material made of thin layers of wood veneer that are stuck together with glue. It is strong, doesn't weigh much, and keeps its shape well. Plywood is often used for floors, roofs, and walls in building.
Overall, composites are versatile materials that can be used in many different ways because they have their own unique properties.
A composite material is made up of two or more different substances that have different properties when put together than when they are used alone. Fiberglass, carbon fibre composites, and concrete are all common types of composite materials. Glass fibres are mixed into a polymer matrix to make fibreglass, which is strong, light, and resistant to corrosion. Carbon fibre composites are made of carbon fibres that are glued together with a resin matrix. They are strong and stiff. Concrete is a mixture of cement, aggregates (like sand and gravel), and water. It is used a lot in construction because it is strong and lasts a long time.
Composites are materials that are made by combining two or more materials with different physical or chemical properties to make a new material that is different from its parts.
Composites are used in many ways because of their unique properties, such as their high strength, stiffness, and durability, low weight, resistance to corrosion, and ability to keep heat in. Here are a few common ways composites are used:
Aerospace: Composites are used a lot in the aerospace industry because they are light, strong for their size, and don't rust or wear out. They are used in parts of aeroplanes and rockets, like the wings, fuselage, and tail structures.
Composites are used in the automotive industry to make cars lighter and get better gas mileage. They are used to make bumpers, body panels, and other structural parts.
Construction: Composites are used in construction because they are strong for their weight, last a long time, and don't rust or catch fire. They are used to build bridges, buildings, and other kinds of infrastructure.
Sports equipment: Composites are used to make sports equipment like tennis racquets, golf clubs, and bicycles because they are strong and light.
Marine: Composites are used in the marine industry because they don't rust and don't soak up water. They are used to make the hulls and decks of boats, as well as other parts.
Composites are used in medicine because they are strong and don't harm the body. They are used in dental implants, prosthetic limbs, and other medical tools.
Overall, composites are used in many different industries because they have unique properties and can be made to fit the needs of specific applications.
Composites and alloys are both made by combining different materials, but they are made and have different properties in different ways.
Composites are made by combining two or more different materials, usually with different properties, to make a new material with better properties. Composites can be made by combining materials like fibres, particles, or flakes with a matrix material like a polymer or metal. This makes a material with different properties than the parts that make it up. Composites often have properties that make them stand out, such as high strength-to-weight ratios, resistance to corrosion, and more.
Alloys, on the other hand, are made by putting together two or more metals to make a new material with certain properties. You can make an alloy by melting two or more metals together and then letting them cool. You can also make an alloy by adding a powder of one metal to another metal or by electroplating. Alloys are made to have certain qualities, like high strength, resistance to corrosion, or high conductivity. They are often used to make structural and mechanical parts.
Composites are made by combining two or more different materials, usually with different properties, to make a new material with better properties. Composites can have different structures depending on the materials used and how they will be used, but in general, they are made of two parts: a reinforcement phase and a matrix phase.
Most of the time, the reinforcement phase is made up of fibres, particles, or flakes that give the composite the properties it needs, like strength, stiffness, or thermal conductivity. Reinforcing materials can be made from many different things, like carbon fibres, glass fibres, aramid fibres, ceramic particles, and metal flakes.
Most of the time, the matrix phase is made of a polymer or metal that holds the reinforcement materials together and moves loads between them. The matrix material is often chosen because it is tough, long-lasting, and resistant to things like water, heat, and chemicals in the environment.
Through a process called "layup" or "forming," the reinforcement and matrix materials are put together in the way that is wanted. The resulting composite structure can be made into many different shapes and sizes, like sheets, panels, tubes, and even complicated shapes like aeroplane wings.
Overall, the structure of composites depends a lot on the materials used and how they are going to be used. Composites can be made to have a wide range of properties to meet different performance needs.
Composites are widely used in engineering due to their unique properties and advantages over traditional materials. Here are some of the ways composites are used in engineering:
Aerospace: Composites are extensively used in aerospace engineering to make lightweight, strong, and durable components for aircraft and spacecraft. Composites are used for applications such as wing structures, fuselage components, and engine components.
Automotive: Composites are used in the automotive industry to make lightweight, high-strength parts that can improve performance and fuel efficiency. Composites are used for applications such as body panels, suspension components, and brake systems.
Marine: Composites are used in marine engineering to make boats, yachts, and other watercraft lighter, stronger, and more durable. Composites are used for applications such as hulls, decks, and masts.
Construction: Composites are used in construction engineering to make building materials that are lightweight, durable, and resistant to weather and other environmental factors. Composites are used for applications such as roofing materials, bridge decks, and concrete reinforcement.
Wind energy: Composites are used in wind energy engineering to make turbine blades that are lightweight, strong, and durable. Composites can enable larger and more efficient turbines to be built, which can generate more electricity.
Composites are made of two or more different types of materials. They are used in many different fields. Composites are used in some of the following industries:
Aerospace: Composites are used in the aerospace industry to make parts for planes, satellites, and rockets that are both light and strong.
Automotive: Composites are used in the auto industry to make parts for cars, trucks, and buses that are both light and strong.
Construction: Composites are used in the construction industry to make strong and long-lasting materials for buildings, bridges, and other infrastructure.
Marine: Composites are used in the sports industry to make equipment like golf clubs, tennis rackets, and hockey sticks that are both light and strong.
Sports: Composites are used in the sports industry to make equipment like golf clubs, tennis rackets, and hockey sticks that are both light and strong.
Wind energy: Composites are used in the wind energy industry to make wind turbine blades that are both light and strong.
Medical: Composites are used in the medical field to make prosthetics, implants, and other medical devices that are both strong and light.
Composites are made by putting together two or more different materials to make a new material with different properties than its parts. The properties of composites can vary depending on what kinds of materials are used and how much of each is used. However, composites tend to have the following properties:
Strength: Composites can be stronger than the materials they are made of because the combination of materials can make a stronger and stiffer material.
Lightweight: Composites can be a lot lighter than the materials they are made of. This can be important in industries where weight is important, like aerospace, auto, and sports.
Durability: Composites can be very resistant to corrosion, fatigue, and wear, which makes them last a long time.
Flexibility: Composites can be made to be flexible, which is useful for things like medical implants, where the material needs to be able to bend and fit the body.
Thermal properties: Composites can have excellent thermal properties, such as high temperature resistance or low thermal conductivity, which can be important in applications such as electronics or aerospace.
Electrical properties: Composites can have excellent electrical properties, such as high electrical conductivity or low dielectric constant, which are important in electrical and electronic applications.
These are just a few examples of the properties of composites, and different composites can be designed with specific properties for specific applications.
Yes, carbon fiber is a composite material.
Research Methodology
Related Markets
If your company is recognised in this Quadrant, Leverage this ranking using our Marketing Kit.
If your company is recognised in this Quadrant, Leverage this ranking using our Marketing Kit.
