By Company Type- Tier 1- 40%, Tier 2- 33%, and Tier 3- 27%.These primary sources have been divided into the following three categories: This study has been validated through primary interviews conducted with various industry experts globally. The recovery in the end-use industries with restoration in the supply chain would drive the composites demand during the forecast period. The composites manufacturing companies have ample opportunities in the APAC market in comparison to the European and North American counterparts owing to low-cost labor and raw materials.Дue to COVID-19, composites producers and numerous companies have halted their production sites across various countries that has led to reduced demand for composites, APAC countries. Due to COVID-19, there was a partial production in various wind blade manufacturing facilities, thereby affecting the demand for composites in the wind energy sector in 2020.ДЄPAC is the fastest-growing composites market.ДЄPAC is projected to register the highest CAGR in terms of value in the global composites market during the forecast period.APAC dominated the composites industry in 2020.

The wind energy is expected to grow at the highest CAGR during the forecast period.The use of composites in wind turbines provides high tensile strength, helping manufacturers to achieve larger blades and higher energy output.Дue to its corrosion resistance properties, composites have helped the wind industry to grow by allowing wind turbines to work in the harshest environments. Wind energy is the fastest-growing end-use industry of composites, in terms of value. It is the most promising technology available today, as it can yield large complex three-dimensional components with high mechanical performance, tight dimensional tolerance, and high surface finish. It is mainly used to mold components with large surface areas, complex shapes, and smooth finishes.The growth prospects of the RTM process are very good in the next five years due to increasing applications in the automotive and construction industries in emerging countries. RTM is a vacuum-assisted resin transfer process that uses a flexible solid counter tool for surface compression.This process yields increased laminate compression, high glass-to-resin ratio, and outstanding strength-to-weight characteristics. Resin Transfer Molding (RTM) manufacturing process is the fastest-growing manufacturinf process of composites, in terms of value. However, continuous lockdown in the US, Spain, Italy, India, and other countries has paused the production of automobile, aircraft parts, wind blade, and other components which has affected adversely to the composite manufacturers and might reduce the demand for composites from various end-use industries. Thus, the companies are investing in R&D for the mass production of thermoplastic composites to reduce its cost. Thermoplastic composites are the fastest-growing resin type.The thermoplastic composites are easy to remold, and reform and hence can be reused. Thermoplastic composites is the fastest-growing resin type of composites, in terms of value. The use of natural fiber composites is growing as an alternative to glass fiber composites in many end-use industries. Natural fiber composites are projected to register the highest CAGR in terms of value between 20.Natural fibers, such as flax, hemp, jute, and kenaf, along with a polymer matrix, such as polypropylene, epoxy, polyethylene, or polyesters, form the natural fiber composite. Natural fiber composites are the fastest-growing fiber type of composites market in terms of value. However, global pandemic disease COVID-19 has forced the automotive, wind blade and aircraft manufacturers to shut down their operations which resulted into decreased demand for composites in 2020. 06, 2021 (GLOBE NEWSWIRE) - announces the release of the report 'Composites Market by Fiber Type, Resin Type, Manufacturing Process, End-use Industry and Region - Global Forecast to 2026'.

Owing to these outstanding properties offered by the composites, conventional materials such as aluminum steel are preferred less in high performance applications. The composites offer exceptional properties, such as stiffness, strength, tenacity, density, and thermal & electrical conductivity, fatigue, and corrosion resistance.

Hilti anchors with epoxy