According to the report the global composite resin market reached a value of USD 23 billion in 2022. Aided by the rising demand in various applications and the burgeoning construction and aerospace industries, the market is projected to further grow at a CAGR of 5.82% between 2023 and 2028 to reach a value of USD 32.44 billion by 2028.
Composite resins, widely recognised for their superior durability, heat resistance, and versatility, are widely used in multiple applications, including automotive, aerospace, construction, electrical and electronics, and marine sectors. Their application ranges from being key elements in aircraft structures to car parts and wind turbine blades. Their mechanical properties, such as high strength-to-weight ratio and excellent resistance to wear, make them a valuable asset across multiple industries.
A significant driver of the global composite resin market growth is the increasing demand in various sectors. The construction sector is one area where the usage of composite resin materials is expanding rapidly due to their excellent durability, lightweight nature, and corrosion resistance. They're commonly used in the manufacture of components like panelling, roofing, and structural elements, making them an integral part of the modern construction industry.
Similarly, the automotive and aerospace industries have become increasingly reliant on composite resin materials. In these sectors, the lightweight properties and strength of composite resins contribute to improved fuel efficiency and performance in both vehicles and aircraft. Their versatility and customisability also offer opportunities for design innovation, contributing to their growing popularity.
Another significant trend propelling the composite resin market development is the ongoing push towards renewable energy sources. Wind turbine blades are commonly made from composite resins due to their strength, flexibility, and longevity. With the global emphasis on clean, renewable energy sources, this application is likely to contribute to the increasing demand for composite resins.
The use of composite resin in marine applications, particularly in the construction of boats and marine structures, is also a vital factor in composite resin market expansion. Their resistance to the corrosive effects of seawater and their ability to withstand intense physical stress make them a preferred choice in marine construction.
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*The publisher always strives to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
Composite resins, widely recognised for their superior durability, heat resistance, and versatility, are widely used in multiple applications, including automotive, aerospace, construction, electrical and electronics, and marine sectors. Their application ranges from being key elements in aircraft structures to car parts and wind turbine blades. Their mechanical properties, such as high strength-to-weight ratio and excellent resistance to wear, make them a valuable asset across multiple industries.
A significant driver of the global composite resin market growth is the increasing demand in various sectors. The construction sector is one area where the usage of composite resin materials is expanding rapidly due to their excellent durability, lightweight nature, and corrosion resistance. They're commonly used in the manufacture of components like panelling, roofing, and structural elements, making them an integral part of the modern construction industry.
Similarly, the automotive and aerospace industries have become increasingly reliant on composite resin materials. In these sectors, the lightweight properties and strength of composite resins contribute to improved fuel efficiency and performance in both vehicles and aircraft. Their versatility and customisability also offer opportunities for design innovation, contributing to their growing popularity.
Another significant trend propelling the composite resin market development is the ongoing push towards renewable energy sources. Wind turbine blades are commonly made from composite resins due to their strength, flexibility, and longevity. With the global emphasis on clean, renewable energy sources, this application is likely to contribute to the increasing demand for composite resins.
The use of composite resin in marine applications, particularly in the construction of boats and marine structures, is also a vital factor in composite resin market expansion. Their resistance to the corrosive effects of seawater and their ability to withstand intense physical stress make them a preferred choice in marine construction.
Market Segmentation
The market can be divided based on resin type, manufacturing process, application, and region.Market Breakup by Resin Type
- Thermoset Composite Resin
- Thermoplastic Composite Resin
Market Breakup by Manufacturing Process
- Layup
- Filament Winding
- Injection Moulding
- Pultrusion
- Compression Moulding
- Resin Transfer Moulding
- Others
Market Breakup by Application
- Construction and Infrastructure
- Transportation
- Electrical and Electronics
- Pipes and Tanks
- Wind Energy
- Marine
- Aerospace and Defence
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global composite resin companies. Some of the major key players explored in the report are as follows:- Huntsman International LLC
- Scott Bader Company Ltd
- BASF SE
- Polynt S.p.A.
- Saudi Basic Industries Corporation
- Arkema S.A
- Evonik Industries AG
- Allnex Group
- Showa America, Inc.
- Others
About the Publisher
Acquire unparalleled access to critical industry insights with our comprehensive market research reports, meticulously prepared by a team of seasoned experts. These reports are designed to equip decision-makers with an in-depth understanding of prevailing market trends, competitive landscapes, and growth opportunities.Our high-quality, data-driven analyses provide the essential framework for organisations seeking to make informed and strategic decisions in an increasingly complex and rapidly evolving business environment. By investing in our market research reports, you can ensure your organisation remains agile, proactive, and poised for success in today's competitive market.
Don't miss the opportunity to elevate your business intelligence and fortify your strategic planning. Secure your organisation's future success by acquiring one of these reports today.
*The publisher always strives to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
Table of Contents
1 Preface2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Composite Resin Market Analysis
8.1 Key Industry Highlights
8.2 Global Composite Resin Historical Market (2018-2022)
8.3 Global Composite Resin Market Forecast (2023-2028)
8.4 Global Composite Resin Market by Resin Type
8.4.1 Thermoset Composite Resin
8.4.1.1 Historical Trend (2018-2022)
8.4.1.2 Forecast Trend (2023-2028)
8.4.2 Thermoplastic Composite Resin
8.4.2.1 Historical Trend (2018-2022)
8.4.2.2 Forecast Trend (2023-2028)
8.5 Global Composite Resin Market by Manufacturing Process
8.5.1 Layup
8.5.1.1 Historical Trend (2018-2022)
8.5.1.2 Forecast Trend (2023-2028)
8.5.2 Filament Winding
8.5.2.1 Historical Trend (2018-2022)
8.5.2.2 Forecast Trend (2023-2028)
8.5.3 Injection Moulding
8.5.3.1 Historical Trend (2018-2022)
8.5.3.2 Forecast Trend (2023-2028)
8.5.4 Pultrusion
8.5.4.1 Historical Trend (2018-2022)
8.5.4.2 Forecast Trend (2023-2028)
8.5.5 Compression Moulding
8.5.5.1 Historical Trend (2018-2022)
8.5.5.2 Forecast Trend (2023-2028)
8.5.6 Resin Transfer Moulding
8.5.6.1 Historical Trend (2018-2022)
8.5.6.2 Forecast Trend (2023-2028)
8.5.7 Others
8.6 Global Composite Resin Market by Application
8.6.1 Construction and Infrastructure
8.6.1.1 Historical Trend (2018-2022)
8.6.1.2 Forecast Trend (2023-2028)
8.6.2 Transportation
8.6.2.1 Historical Trend (2018-2022)
8.6.2.2 Forecast Trend (2023-2028)
8.6.3 Electrical and Electronics
8.6.3.1 Historical Trend (2018-2022)
8.6.3.2 Forecast Trend (2023-2028)
8.6.4 Pipes and Tanks
8.6.4.1 Historical Trend (2018-2022)
8.6.4.2 Forecast Trend (2023-2028)
8.6.5 Wind Energy
8.6.5.1 Historical Trend (2018-2022)
8.6.5.2 Forecast Trend (2023-2028)
8.6.6 Marine
8.6.6.1 Historical Trend (2018-2022)
8.6.6.2 Forecast Trend (2023-2028)
8.6.7 Aerospace and Defence
8.6.7.1 Historical Trend (2018-2022)
8.6.7.2 Forecast Trend (2023-2028)
8.6.8 Others
8.7 Global Composite Resin Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2022)
8.7.1.2 Forecast Trend (2023-2028)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2022)
8.7.2.2 Forecast Trend (2023-2028)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2022)
8.7.3.2 Forecast Trend (2023-2028)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2022)
8.7.4.2 Forecast Trend (2023-2028)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2022)
8.7.5.2 Forecast Trend (2023-2028)
9 North America Composite Resin Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
10 Europe Composite Resin Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2022)
10.1.2 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Historical Trend (2018-2022)
10.2.2 Forecast Trend (2023-2028)
10.3 France
10.3.1 Historical Trend (2018-2022)
10.3.2 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Historical Trend (2018-2022)
10.4.2 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Composite Resin Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2022)
11.1.2 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Historical Trend (2018-2022)
11.2.2 Forecast Trend (2023-2028)
11.3 India
11.3.1 Historical Trend (2018-2022)
11.3.2 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Historical Trend (2018-2022)
11.4.2 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Historical Trend (2018-2022)
11.5.2 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Composite Resin Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2022)
12.1.2 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Historical Trend (2018-2022)
12.2.2 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Historical Trend (2018-2022)
12.3.2 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Composite Resin Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2022)
13.1.2 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2022)
13.2.2 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Historical Trend (2018-2022)
13.3.2 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Historical Trend (2018-2022)
13.4.2 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Huntsman International LLC
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Scott Bader Company Ltd
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 BASF SE
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Polynt S.p.A.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Saudi Basic Industries Corporation
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Arkema S.A
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Evonik Industries AG
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Allnex Group
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Showa America, Inc.
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Others
16 Key Trends and Developments in the Market
Companies Mentioned
- Huntsman International LLC
- Scott Bader Company Ltd
- BASF SE
- Polynt S.p.A.
- Saudi Basic Industries Corporation
- Arkema S.A
- Evonik Industries AG
- Allnex Group
- Showa America, Inc.
Methodology
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