Market Size of Textile Composites Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | > 6.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Textile Composites Market Analysis
The global textile composites market is expected to grow at with a CAGR greater than 6% during the forecast period. One of the major factors driving the market is the growing demand from aerospace sector. However, textile composites' low resistance to impact is likely to hinder the growth of the market studied.
- Emerging Applications in the Optical Fiber Industry are expected to provide a major growth opportunity for the market studied.
- Asia-Pacific is expected to witness the highest growth rate during the forecast period owing to the growing defense expenditure in the region.
- Among the application areas, electrical & electronics application dominated the market studied and is expected to dominate the market studied during the forecast period.
Textile Composites Industry Segmentation
The Textile Composites market report include:
| Fiber Type | |
| Carbon | |
| Glass | |
| Aramid | |
| Others |
| Application | |
| Aerospace & Defense | |
| Electrical & Electronics | |
| Construction | |
| Sporting Goods | |
| Railways | |
| Marine | |
| Wind | |
| Others |
| Geography | ||||||||
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Textile Composites Market Size Summary
The textile composites market is poised for significant growth, driven primarily by increasing demand from the aerospace sector. Despite challenges such as low impact resistance, the market is expected to benefit from emerging applications in the optical fiber industry, which present substantial growth opportunities. The Asia-Pacific region is anticipated to experience the highest growth rate, fueled by rising defense expenditures and a burgeoning demand in the electrical and electronics sectors. Textile composites are particularly valued in these industries for their excellent insulating properties and high modulus of elasticity, making them ideal for use in fiber optic cables and protective enclosures in marine and aerospace applications. The proliferation of personal electronic devices globally further propels the demand for textile composites, especially in applications like computer power cords and mobile phone cables.
In the Asia-Pacific region, the demand for textile composites is significantly bolstered by the aerospace and defense, as well as the electrical and electronics industries. Countries such as China, India, and Japan are increasing their defense spending, which in turn boosts the demand for textile composites. Additionally, the growing sports industry in the region contributes to the market's expansion. The textile composites market is moderately fragmented, with key players including Teijin Limited, Toray Advanced Composites, Composite Fabrics of America, DowDuPont, and Hyosung Corporation. These companies are instrumental in shaping the competitive landscape, as they hold substantial market shares and drive innovation within the industry.
Textile Composites Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Increasing Demand From the Aerospace Sector
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1.1.2 Other Drivers
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1.2 Restraints
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1.2.1 Low Resistance to Impact
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1.2.2 Other Restraints
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1.3 Industry Value-chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION
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2.1 Fiber Type
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2.1.1 Carbon
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2.1.2 Glass
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2.1.3 Aramid
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2.1.4 Others
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2.2 Application
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2.2.1 Aerospace & Defense
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2.2.2 Electrical & Electronics
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2.2.3 Construction
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2.2.4 Sporting Goods
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2.2.5 Railways
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2.2.6 Marine
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2.2.7 Wind
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2.2.8 Others
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2.3 Geography
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2.3.1 Asia-Pacific
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2.3.1.1 China
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2.3.1.2 India
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2.3.1.3 Japan
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2.3.1.4 South Korea
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2.3.1.5 ASEAN Countries
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2.3.1.6 Rest of Asia-Pacific
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2.3.2 North America
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2.3.2.1 United States
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2.3.2.2 Canada
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2.3.2.3 Mexico
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2.3.3 Europe
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2.3.3.1 Germany
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2.3.3.2 United Kingdom
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2.3.3.3 France
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2.3.3.4 Italy
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2.3.3.5 Rest of Europe
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle-East & Africa
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2.3.5.1 Saudi Arabia
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2.3.5.2 South Africa
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2.3.5.3 Rest of Middle-East & Africa
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Textile Composites Market Size FAQs
What is the current Textile Composites Market size?
The Textile Composites Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)
Who are the key players in Textile Composites Market?
TORAY INDUSTRIES, INC., Dupont, Hyosung , Composite Fabrics of America and TEIJIN LIMITED. are the major companies operating in the Textile Composites Market.
