Editorial Feature

The Current State of the Global Composites Industry

Global Market ReportComposites

Composites have been produced for millennia. The first known use of them dates back to around 3400 BC when the Mesopotamians used glued wood strips at angles to create plywood. Other early examples include the use of cartonnage together with layers of linen or papyrus to create death masks, as was done by the Egyptians in around 2181 BC.

A composite is essentially a material that is constructed by combining two or more materials with different properties to produce a novel material with unique characteristics. Often, these materials are designed to maximize the strengths of each material while reducing their weaknesses.

Modern examples of composite materials include concrete, carbon fiber-reinforced polymer (CFRP), glass fiber-reinforced polymer (GFRP), metal-matrix composites (MMC), ceramic matrix composites (such as silicon carbide matrixes), fiberglass reinforced plastic, carbon fiber-reinforced laminates, aluminum matrix complexes (AMC), epoxy-glass composites, hybrid carbon-glass fiber composites, and more. Natural composites include wood and bamboo.

Here, we explore the current applications of composites and look at how the field is developing. We evaluate the global market for this class of materials and consider how it may change in the near future.

Application Areas of Composites

Composites have a diverse range of application areas across numerous industries. Aerospace is one industry that commonly uses composites. Here, they are used in aircraft due to their high strength and low weight. This helps to improve the fuel efficiency of the aircraft and increase performance. Demands from this industry are a particularly strong driving force for the composites industry.

The automotive industry also makes great use of composite materials. Similar to how composites are used in the aerospace industry, in the automotive sector, they are also used for their combination of strength and lightness, helping to improve the fuel economy of the vehicles in which they are used.

The wind energy sector is another major utilizer of composite materials. Fiberglass and carbon fiber composite materials are commonly used in the blades of wind turbines. These materials enable the blades to be lightweight and robust while improving energy efficiency.

Other renewable energy sectors also make use of composite materials. Structures used in the production of both solar and wave energy incorporate composite materials to boost their structural integrity and durability.

composites industry, global composites industry

Image Credit: jaojormami/Shutterstock.com

Composite materials are frequently used in sports equipment such as tennis rackets, helmets, bicycles, and golf clubs due to their properties of high strength and flexibility.

The construction industry is a key consumer of composite materials. Here, they are used for a wide variety of purposes, such as providing reinforcement or constructing architectural elements.

Composites are also commonly used in the medical industry, primarily for use in medical devices. Composites have become a success in this field due to their strength-to-weight ratio and biocompatibility. Orthopedic implants, for example, use carbon fiber composites.

Hot Topics in the Composites Industry

There are a number of exciting developments currently underway in the composites industry. First, the sub-sector of nanocomposites is emerging as an innovative field that integrates nanoparticles into composite materials to enhance their properties. Such technology has resulted in composite materials with desirable properties such as strength, good thermal conductivity, and structural integrity. Industries such as aerospace and automotive are already making use of these innovative materials. More research and development will likely occur in the field of nanocomposites in the coming years.

Additionally, a current trend has emerged that is seeing additive manufacturing married with composite manufacturing. Composites producers around the world are leveraging the growing and developing field of additive manufacturing to produce composites that are customizable and have complex structures.

Current Global Market of the Composites Industry

The global composites market was valued at $113.7 billion in 2022, and it is predicted to reach a valuation of $168.6 billion by 2027, growing at a CAGR of 8.2% over the forecast period. Much of this growth will be driven by the growing wind energy sector, as well as increased demand from the industries of aerospace, defense, automotive, and transportation.

Asia-Pacific, followed by Europe, will be the fastest-growing region over the next few years. The fastest-growing country in the Asia-Pacific region is China, which accounted for $17 billion of the sector’s total revenue in 2021, followed by Japan, India, and South Korea.

Some key industry players include Teijin Ltd (Japan), Owens Corning (US), Mitsubishi Chemical Holdings (Japan), Toray Industries (Japan), SGL Group (Germany), Excel Corporation (US), Nippon Electric Glass Co. Ltd (Japan), Solvay (Belgium), and Huntsman International LLC (US).

Future Directions of the Composites Industry

In the future, we will likely see the development of smart composites - the integration of sensor technology into composite materials. Research and development in this area has already begun. In the near future, smart composites will likely be adopted by the health industry for a wide range of applications, including healthcare monitoring.

Sustainable composites will also become a key feature of the composites industry moving forward. Globally and across sectors, there is mounting pressure for companies to adopt sustainable practices. In response to this demand, composite materials producers have challenged themselves to develop composite materials that are more sustainable, constructing them from renewable resources and making them easier to recycle.

There will likely be continuing developments emerging from the nanocomposites sector, given the keen interest that has already been expressed for these materials.

Final Thoughts

Overall, although composite materials have been around for 1000s of years, the industry is still amid innovation and evolution. In the coming years, we will likely see innovations in various sectors of the composites industry. In particular, we will see developments that are beneficial to the transportation industries as well as healthcare.

More from AZoM: How Can Composites Make Construction More Sustainable?

References and Further Reading 

Andrew, J.J. and Dhakal, H.N. (2022) Sustainable biobased composites for advanced applications: Recent trends and future opportunities – A critical review, Composites Part C: Open Access, 7, p. 100220. doi:10.1016/j.jcomc.2021.100220.

Composites market by fiber type [online]. Markets and Markets. Available at: https://www.marketsandmarkets.com/Market-Reports/composite-market-200051282.html (Accessed September 2023)

Leng, J. and Asundi, A. (2003) Structural Health Monitoring of smart composite materials by using EFPI and FBG Sensors, Sensors and Actuators A: Physical, 103(3), pp. 330–340. doi:10.1016/s0924-4247(02)00429-6.

Sen, M. (2020) Nanocomposite materials, Nanotechnology and the Environment [Preprint]. doi:10.5772/intechopen.93047.

Disclaimer: The views expressed here are those of the author expressed in their private capacity and do not necessarily represent the views of AZoM.com Limited T/A AZoNetwork the owner and operator of this website. This disclaimer forms part of the Terms and conditions of use of this website.

Sarah Moore

Written by

Sarah Moore

After studying Psychology and then Neuroscience, Sarah quickly found her enjoyment for researching and writing research papers; turning to a passion to connect ideas with people through writing.

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Comments

  1. Roberson Machine Company Roberson Machine Company United States says:

    Nice story, Sarah. Thanks for contributing. We've used composites for years and, yes, the industry is changing. Thanks again!

The opinions expressed here are the views of the writer and do not necessarily reflect the views and opinions of AZoM.com.

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