Chemicals

5 Major Insights On The Transportation Composites Market 2024

March 21, 2024 by The Business Research Company

The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Transportation Composites Global Market Report 2024, the transportation composites market is expected to show significant growth in the forecast period.

Overview of Market Growth

The transportation composites market has seen significant growth recently.
Expected to grow from $64.02 billion in 2023 to $70.46 billion in 2024 at a CAGR of 10.1%.
Forecasted to reach $104.09 billion in 2028 with a CAGR of 10.2%.

Driving Forces of Growth

Automotive industry expansion
Weight reduction demands
Fuel efficiency goals
Safety and crash performance requirements
Cost reduction initiatives
Advancements in raw materials
Increased production efficiency
Infrastructure development

View More On The Transportation Composites Market Report 2024 – https://www.thebusinessresearchcompany.com/report/transportation-composites-global-market-report

The Automotive Industry’s Role In Driving the Transportation Composites Market

Automotive Industry Growth

Increasing income and standard of living drive automobile demand.
Automobiles utilize transportation composites for strength and weight reduction.
79.1 million automobiles produced globally in 2021.

Major Players

Hexcel Corporation
Mitsubishi Chemical Holdings Corporation
Owens Corning
Toray Industries Inc.
Teijin Limited
Solvay S.A.
And many more…

Environment Friendly Transportation Composites

Development of Sustainable Solutions

Focus on lightweight, durable materials with sustainable or recyclable components.
Enhance fuel efficiency and reduce environmental impact.
Example: TRB Lightweight Structures and Kordsa partnership.

Atkore Inc. Enhances Product Portfolio With Strategic Acquisition Of Fre Composites Group

Expansion Through Acquisition

Atkore Inc., a US-based manufacturer, acquired FRE Composites Group in February 2021.
Broadened range of conduit products for diverse client demands.
FRE Composites Group manufactures fiberglass conduit products for transportation and other sectors.

Segmentation of the Transportation Composites Market

By Resin

Thermoset
Thermoplastic

By Material Type

Glass Fiber
Natural Fiber
Carbon Fiber Composite
Aramid Fiber

By Manufacturing Process

Compression Molding
Injection Molding
Resin Transfer Molding
Other Manufacturing Processes

Regional Insights

North America

Largest region in the transportation composites market in 2023.

Request A Sample Of The Global Transportation Composites Market Report 2024:

https://www.thebusinessresearchcompany.com/sample_request?id=8509&type=smp

The Transportation Composites Global Market Report 2024 provides an in-depth analysis on the transportation composites market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the transportation composites market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

View More Related Reports –

Transportation Management System Global Market Report 2024

Transportation Analytics Global Market Report 2024

Vehicle Security System Global Market Report 2024

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