Latest Market Study Reports: January 2021

Friday, January 29, 2021

Surfing Equipment Market Driving Factors Analysis Report By 2025

The global surfing equipment market is anticipated to reach USD 3.9 billion by the end 2025. The market is anticipated to grow at a CAGR of 3.3% during the forecast period, 2019 to 2025. This growth is attributed to rising popularity of adventure sports and water sports among adventure enthusiasts and thrill seekers across the globe. Moreover, emergence of surfing as a professional sport has opened potential growth opportunities for the manufacturers of surfing equipment to sell their products to professional surfers. Furthermore, surfing helps in reducing the stress and anxiety and also helpful in burning calories as it involves bending, squatting, laying on stomach. This is projected to further propel the market growth over the forecast period.

The segment of surfing boards has dominated the market owing to availability of wide range of products with an option of customization. Manufacturers are experimenting with different designs, materials, and shape of surfing boards to fulfil the specific requirements of consumers. Moreover, they are adopting new technologies to improve the performance of surfing boards. This has attracted large consumer groups to purchase these customized and advance surfing boards. This factor is projected to drive the segment growth from 2019 to 2025. The apparel & accessories segment is projected to expand at the fastest CAGR over the forecast period owing to rising participation in professional surfing tournaments and rising interest of millennial in surfing.

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North America is known for long coastlines, therefore, held the largest share across the global market in 2018. Presence of various popular surfing destinations in countries like Canada and U.S. and presence of leading manufacturers such as Quiksilver and Billabong is anticipated to fuel the regional market growth. Asia Pacific is anticipated to register the fastest growth over the forecast period owing to presence of popular surfing sites in New Zealand and Australia and presence of headquarters of World Surfing League (WSL) in Australia. Moreover, high participation of people in surfing tournaments conducted by WSL is projected to drive the product demand in this region.

Major players are constantly engaged in innovating their products to improve its performance and attract large consumer groups. For instance, Stewart Surfboards launched a surfboard named Night Stalker which can be used for surfing during night time. Moreover, it also launched the 4-Men surfing board which can easily accommodate four adults while surfing. Such unique products are gaining traction among millennial population across the globe.

Further key findings from the report suggest:

• In 2018, the segment surfing boards held the largest revenue share of 67.3% across the globe market owing to availability of wide range of products and increasing participation of millennial population in surfing sport

• The segment of apparel and accessories is projected to expand at the fastest CAGR of 3.6% over the forecast period.

• The segment of offline distribution channels dominated the market in 2018 whereas the online segment is projected to grow at the fastest CAGR of 4.3% over the forecast period.

• By region, North America held the largest share of over 45% in 2018 owing to presence of popular surfing destination in countries like Canada and U.S.

• Product innovation is projected to be the most prominent strategy among the leading brands to gain an edge over other competitors.

Global Surfing Equipment Market: Key Players

Quiksilver, Inc.; Billabong; Nike, Inc.; CHANNEL ISLANDS SURFBOARDS; Shop Rusty Surfboards; Firewire Surfboards, LLC; Rip Curl International Pty Ltd; Shop Rusty Surfboards; CANNIBAL SURFBOARDS; O’Neill; and JS Industries.

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Gym Bag Market Major impacting factors Analysis Report By 2025

The global gym bag market size is projected to touch USD 1.8 billion by 2025, growing with a CAGR of 7.9% from 2019 to 2025.The rising awareness relating to fitness and health and the availability of a wide range of products is expected to drive the market in the upcoming years. The growing fitness industry in South America and Asia Pacific coupled with the growing sales of fitness and health equipment, products and accessories used in this industry is predicted to surge the demand for gym bags over the forecast period. Moreover, the rising number of fitness and health clubs are expected to contribute significantly to the growth of the market.

The increase in the disposable income of the middle-class population in developing countries has fueled the product demand in recent years. Higher purchasing power encourages them to choose fashionable, premium, and on-trend products in the fitness and health sector. The introduction of several new products and the penetration of the e-commerce industry are the major factors boosting the market growth. Key players are emphasizing on fulfilling consumer preferences by offering customized gym bag. Additionally; the bags are showcased through various offline and online channels with social media being major platforms.

The rising preference of people for a healthy lifestyle has influenced many multinational companies to encourage their employees to have fitness and health club memberships. This trend is expected to have a positive impact on the gym bags market over the forecast period. Moreover, these bags are compatible with different connected and smart devices, which offer a lucrative opportunity for the companies in the gym bag market.

Further key findings from the report suggest:

• Based on product, duffle bags are expected to grow at a CAGR of 7.5% from 2019 to 2025.

• The offline distribution channel held a market share of 86.6% in 2018. The growth is attributed to the widespread availability of products at hypermarkets, supermarkets, and specialty stores.

• North America held a dominant position with a share of 38.3% in terms of revenue in 2018.

• The increasing fitness and health industry due to the rising awareness for healthy lifestyle among the consumers are predicted to contribute to the growth of this market.

• The rise in purchasing power in countries like South Korea, Japan, China, and India are expected to open new avenues for the market in Asia Pacific.

• Several companies are focusing on technological innovation, capacity expansion, and product launches as their key strategies to attract a larger consumer base.

Global Gym Bag Market: Key Players

JensenLee; Chateau Manufacturing; Everlast Worldwide, Inc.; Harissons; Nike, Inc.; Herschel Supply Co. USA; Adidas AG; and ToteBagFactory.

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Dried Berries Market Competitive Landscape and Growth Prospects By 2025

The global dried berries market size is anticipated to register a revenue of USD 44.12 billion by the year 2025. It is expected to grow with 5.8% CAGR over the forecasted period, 2019 to 2025. This growth can be attributed to the increase in the awareness about personal health and wellbeing coupled with the rising trend for consumption of natural and healthy food.

The dried berries can be considered as desiccated fruits that are being processed to increase its shelf life. A variety of berries like grapes and blueberries are rich in vitamin K, vitamin C, potassium, antioxidants, iron, and other soluble dietary fibers. They are also consumed as health or nutritional supplements and are used in the manufacturing of products related to personal care as they help in the treatment of various skin care and hair care related problems such as acne, hair thinning and aging. For example, the acai berries are used for strengthening hair and for the treatment of acne infection due to the presence of nutrients like zinc and anti-inflammatory properties.

The rising preference for blackberries, blueberries, and strawberries as organic ingredients in the cosmetics industry is fueling the market growth for dried berries. For example, The Face Shop has been using blueberry extracts in the manufacturing of various skincare products owing to its anti-aging properties.

A number of frozen desserts and baby food manufacturers such as Mother’s Dairy, Amul and Nestle are claiming the dried berries as nontoxic and natural ingredients which are being used in the manufacturing of their products. For example, the Celerac being manufactured by Nestle is available in the number of flavors. Also, the Gerber Organic Puree is a baby food is manufactured by Nestle and contains extracts of blueberry as one of the major ingredients.

The rising demand for blueberries and raisins across Europe can be attributed to increasing usage across bakery products and for manufacturing products like health bars and cereals. The rising demand for organic food products among the aging population and an increase in disposable income are the factors leading to dried berries market growth. The segment of Bakery and confectionery is expected to register a CAGR of 5.5% during the forecasted period, 2019 to 2025. The segment of cereals and snack bars is anticipated to register the fastest CAGR of 6.5% in the upcoming years.

The demand for such products across the region of Asia Pacific is expected to surge in the near future owing to the increasing population and rise in the health consciousness among the consumers. Countries like China and India use gooseberries and dried raisins in food preparation for ceremonial purposes. Thus, the region is expected to have a share of nearly 20.20% until the year 2025.

Lion Raisins Inc.; Del Monte Foods, Inc.; Dole, Royal Nut Company, Karen’s Naturals, CAL-SAN Enterprises Ltd. and Royal Nut Company few prominent manufacturers of these products. The segment for diet snacks is rapidly growing across the globe. To attain consistent growth across this market, a complete understanding of the upcoming consumption trends is needed.

Further key findings from the report suggest:

• The region of North America is expected to value USD 13.92 billion by 2025.

• Other product type is expected to hold a share of 13.28% across the global dried berries market.

• The region of Asia pacific is expected to witness fastest CAGR of 6.7% during the forecasted years.

• Number of developed countries like U.S, Germany and U.K. are experiencing rising demand for dried berries.

Global Dried Berries Market: Key Players

Lion Raisins Inc.; Del Monte Foods, Inc.; Dole; Bergin Fruit and Nut Company Inc. and Oregon Berry Packing, Inc.

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Camping Stoves Market In-Depth Analysis and Forecast report By 2025

The global camping stoves market size is anticipated to reach USD 671.7 million by the end of 2025. The market is anticipated to grow at a CAGR of 5.1% during the forecast period, 2019 to 2025. This growth is attributed to increasing rate of camping activities coupled with rising demand for camping equipment such as tent, backpacks, and camping stoves across the global market. Moreover, this product is easy to use and is lightweight. It helps in cooking the food with less time, thereby, making it suitable for short weekend trips. Therefore it is expected to gain high popularity among the people participating in camping, mountaineering, and trekking activities.

Rising interest of millennial especially Gen X population in outdoor recreational activities to taking a break from stressful life, frustration, and hectic schedules is expected to positively impact the market growth over the forecast period. The wood burning product segment held the largest market share, in 2018 owing to its easy to use, quick heating, and quick starts and stop feature. Moreover, it can be operated without using any fossil fuel. These features are anticipated to propel the segment’s growth over the forecast period. The segment of multi-fuel stoves is projected to attain the fastest growth with a CAGR of 6.3% over the forecast period. This stove can be ignited using any available fuel such as white gas, jet fuel, unleaded gasoline, diesel, and kerosene. It is compact in size and can be folded after using it. These properties are projected to drive the product demand in the near future.

The segment of offline distribution channel held the largest revenue share across the global camping stoves market owing to provision for physical verification of the product before making a purchase decision coupled with availability of variety of products from different brands. The online segment is anticipated to witness the fastest growth over the forecast period owing to factors such as doorstep delivery services, lucrative discounts and offers, membership plans, easy payment options, hassle free return policy, and increasing penetration of e-commerce platforms.

North America dominated the global camping stoves market, in 2018 owing to rising rate of outdoor recreational activities such as camping and trekking and presence of large number of beautiful camping destinations in this region. Asia Pacific is projected to grow at the fastest CAGR of 6.4% over the forecast period owing to rising disposable income levels of consumers in countries such as India, China, Japan, Indonesia, Australia, and Thailand. Moreover, increasing number of camping service providers in this region is also expected to boost the demand for camping stoves from 2019 to 2025.

Product innovation and new product launches are expected to be the most adopted strategies by leading companies to gain an edge over other competitors.

Further key findings from the report suggest:

• In 2018, the segment of wood burning stoves held the largest revenue share of USD 251.6 million. The multi-fuel product segment is projected to witness the fastest growth with a CAGR of 6.3% over the forecast period.

• The segment of online distribution channel is projected to expand at the fastest CAGR of 5.6% over the forecast period owing to easy payment options and hassle free return policies.

• By region, in 2018, North America held the largest revenue share of USD 230.9 million owing to rising rate of camping activities in countries such as Canada and U.S.

Global Camping Stoves Market: Key Players

Coleman Company, Inc.; Johnson Outdoors Inc.; BioLite Inc.; Katadyn Products Inc.; CampChef.com; Ecozoom; Vango; Primus; Cascade Designs, Inc.; and Zhejiang Deermaple Outdoor Products Co., Ltd.

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Baby Cribs & Cots Market Future Growth and Analysis Report By 2025

The global baby cribs & cots market size is expected to register revenue of USD 1.67 Billion by the end of 2025. It is expected to grow with a CAGR of 4.6% over the forecast period. This growth can be associated with increasing awareness among parents regarding the usage of safety products for their babies. Moreover, increasing number of single parents and emerging concept of nuclear families across developing countries like China and India is expected to pave the market growth for such products in the upcoming years.

Moreover, the U.S. Consumer Product Safety Commission has enforced stringent rules and regulations regarding manufacturing of these products with advanced features thereby ensuring safety for the kids. Thus, the key players have started developing products with features like 3-in-1 and 4-in-1 conversions that can be used as full-sized bed, day bed or toddler beds for babies.

The convertible product segment held the largest share of 53% across the global market in 2018 owing to its cost-effectiveness, ease of usage, durability and detachable property. The segment of multifunctional products is anticipated to register the highest CAGR of 5.4% from 2019 to 2025 owing to their feature of accommodating more furniture pieces that serve various functions.

The offline channel segment held the largest share of around 75% across the global baby cribs and cots market due to the rising number of specialty stores in urban areas. In addition, the online distribution channel segment is anticipated to witness the highest growth with a CAGR 5.0% over the forecast period owing to the rising popularity of smartphones and internet among the millennial.

North America held the largest share of around 32% across the regional market due to rising disposable income among the working population coupled with increasing awareness among the millennial for the usage of safety products for babies. On the other hand, Asia Pacific is anticipated to register the fastest growth in the upcoming years due to rising population across countries like China and India coupled with increasing per capita income.

Further key findings from the report suggest:

• The convertible product segment held the largest share of around 53% across the global market in 2018.

• The online distribution channel segment is expected to witness the highest growth with a CAGR of 5.0% from 2019 to 2025.

• North America held the largest share of around 32% across the global market.

Global Baby Cribs & Cots Market: Key Players

Sorelle Furniture; Storkcraft; Dream On Me, Inc.; Delta Children’s Products Corp.; and Graco, Inc.

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Thursday, January 28, 2021

U.S. Automotive Collision Repair Market Analysis, Size, Growth, Trends and Forecast to 2025

The United States automotive collision repair market size is anticipated to account for USD 37.60 billion by the end of 2025. It is likely to exhibit 1.5% CAGR over the forecast duration. Increasing sales of automotive in the country is a major factor driving the market growth. In addition, a rise in the use of innovative technologies such as 3D printing has led to the improvement in services by service providers. Considering the growing demand for collision repair services, industry participants are increasingly investing in research and development to come up with a new solution.

Digitalization in the automotive industry has caused significant changes in the U.S. automotive collision repair industry. This has led to the emergence of various start-ups who are offering online repairing services. For example, Repair Pal offers pickup and drop services along for damaged vehicles. This has resulted in improved consumer services. Moreover, users can select the types of the technician on their own depending on the nature of repair works.

Impact of COVID-19

The market has been worst hit due to the COVID-19 outbreak. The country has enforced restriction on the operation of various businesses to contain the spread of coronavirus. With people staying indoors and work from home becoming new normal, there has been a significant decline in the number of on-road traffic. Thus, the country has witnessed significantly less number for collision accidents, which, in turn has led to a decline in the demand for this market. However, with the systematic opening of various businesses, automotive sales are anticipated to surge in the near future, thereby, helps in recovering the market.

However, environmental concerns pertaining to the repairing works is likely to hamper the growth of the market. For example, use of paints and coating results in air pollution as they contain a high amount of volatile organic components. This has resulted in the United States government imposing restriction on these materials.

Further key findings from the report suggest:

• Use of technically advanced repair solutions has led to the high cost of collision repair.

• Introduction of technically advanced paints and coating is likely to spur the market growth over the forecast duration.

• OE segment held the largest share in the market owing to the increasing number of OEMs offering repair parts to aftermarket vendors.

• Light-duty vehicles accounted for the highest share in the market owing to the presence of huge number of light-duty vehicles in the country.

U.S. Automotive Collision Repair Market : Key Players

Valeo, 3M, ZF Friedrichshafen AG, Faurecia

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North America Metro Ethernet Services Market Revenue, Share and Growth Rate to 2025

The North America metro ethernet services market size is projected to reach USD 27.1 billion by 2025 and projected to register 4.8% CAGR over the forecast period from 2018 to 2025. Increasing demand for high quality video streaming and video content is a major factor to drive the market growth.

In this region, factor such as rising demand for Ethernet services in metro cities is growing consolidation of data centers which influences the need for improved bandwidth as well as performance.

Among services, E-Transit segment is projected to register the highest CAGR over the forecast period. This growth is attributed to rising demand for carrier Ethernet services across enterprises of metro cities in North America. Enterprises in this region are extensively influenced by increasing need to adopt high-quality, fast and cost-effective carrier services in to manage increasing data traffic in metro areas across countries including Canada and U.S.

On the other hand E-Line and E-LAN services are expected to hold major share collectively during the forecast period. However, E-Tree segment is expected to witness considerable growth in metro areas in this region.

On the bases of category, the demand for Ethernet services for retail/enterprises in metro areas will play a vital role in the near future. This is due to increasing demand for video conferencing, VoIP, and high quality video content and video streaming across enterprise/retail sector in metro areas.

North America is widely diversified and early adopter of advanced technologies. Intense competition among market players is expected to restraint the expansion of Ethernet services in metropolitan regions. In 2017, U.S. has dominated the North America metro ethernet services market.

COVID-19 Impact Analysis

North America metro ethernet services market has been positively impacted due to the outbreak of COVID-19. During lockdown, companies operating in U.S. and Canada have adopted work from home strategy. As employees adapt to this new virtual workplace, it has become important that the technical requirements will play a vital role in work-from-home positions. Therefore, strong internet network allows employees to complete their work, stay in contact with clients, and collaborate with colleagues. Poor internet connectivity can lead to grainy video calls, prolonged file download times, and also communication issues.

Hence, WLAN or Wi-Fi directly connected to an Ethernet cable to existing router offers more power and capability. This resulted in a significant boost in both ranges as well as maximum transmission speed.

Further key findings from the report suggest:

• On the basis of category, the retail/enterprise segment is projected to witness robust growth during the forecast period due to rapid standardizations in carrier Ethernet industry.

• By services, in 2017, the E-LAN segment held largest market share and is expected to register fastest CAGR during the forecast period.

• U.S. and Canada are projected to witness significant growth over the forecast period due to increasing demand for bandwidth-intensive applications coupled with increasing adoption of cloud-based applications.

North America Metro Ethernet Services Market: Key Players

NewWave Communications; Mediacom Communications Corporation; mdocs Limited; Cogent Communications, Inc.; Level 3 Communications (CenturyLink); Netcracker Technology Corporation; Telefonaktiebolaget LM Ericsson; Liberty Global; AT&T Inc.; and Charter Communications.

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Germany Pharmaceuticals Market Share, Growth, Outlook to 2025

The Germany pharmaceuticals market size is projected to touch USD 65.9 billion by 2027. The market is anticipated to register 6.0% CAGR over the forecast duration. Growing prevalence of chronic diseases and rise on the expenditure on research and development are attributing to the growth of the market.

In addition, an increasing number of clinical trials for novel immune-suppressive therapies is projected to bode well for the growth of the market. For example, Sandoz International GmbH introduced Dailiport capsules in June 2020 in European countries including Germany.

Major market participants are increasingly focusing on strategic initiatives such as merger & acquisition, partnerships and collaboration to consolidate their market presence. For example, Bristol-Myers Squibb made an acquisition of Celgene Corporation in 2019 to expand its product portfolio in oncology.

COVID-19 Impact Analysis

Germany pharmaceutical market has been positively affected owing to the outbreak of COVID-19. The pandemic has led to rise in the number of patient counts in Germany, which, in turn, resulted in the rise in the demand for development of new drugs. Various Germany players are developing the vaccines for coronavirus, which is further projected to drive market growth. For example, German company BioNTech, in collaboration with US-based Pfizer has started the human trial for COVID-19 vaccine. In addition, the government of Germany has granted permission to other two German biotech firms namely – Biologika and CureVac to develop the COVID-19 vaccine.

The rising availability of cost-effective generic drugs is projected to fuel market growth over the next few years. German companies are focusing on introducing the generic drug to consolidate their market presence. For example, Sandoz of Novartis AG, in mid-2019, introduced gefitinib’s generic version.

Further key findings from the report suggest:

• Anti-cancer segment held the largest share in the market in 2019. Approval of the number of drugs and increasing research in the treatment of cancer are attributing to the growth of the Germany pharmaceutical market.

• By drug class, Immunosuppressant is projected to exhibit the highest growth over the forecast duration.

• In 2019, the oncology segment occupied the highest share in the market owing to the growing prevalence of prostate cancer, lung cancer and breast cancer.

• Based on type, generic drug division is projected to exhibit the highest growth over the forecast duration.

Germany Pharmaceuticals Market: Key Players

Bayer AG, Pfizer Inc.¸ Abbvie Inc., Novartis AG, STADA Arzneimittel AG and Abbott

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Frozen Meat Market Share, Size and Development Trends of Analysis Report 2025

The global frozen meat market is estimated to reach USD 99.2 billion, by 2025, expanding at a CAGR of 4.4% over the forecast period. The market is majorly driven by the changing lifestyle, food preference and increasing demand for ready-to-eat food.

Frozen meat is gaining popularity among consumers owing to factors such as readily consumable and timesaving for busy lifestyles. This is anticipated to provide prominent growth opportunities for the global market. Moreover, steady economic growth associated with the developing mining industry has helped in increasing the number of employment opportunities, these factors have improved the purchasing power of consumers.

Some of the factors expected to fuel market growth in the upcoming years are rapid urbanization as a result of a growing population and increased need to meet the growing demand for non-vegetarian products. Furthermore, the recent spread of diseases in poultry and pork has resulted in the consumers ‘ gradual shift to beef and other meat products.

In 2018, frozen beef holds the largest share in the product type segment. For instance, in 2017, China imported frozen beef worth USD 3 billion which is over 13% of the total global frozen beef. Asian countries such as China, Indonesia, and Vietnam are the fastest growing importers of frozen beef on the other hand countries like Russia, Japan, and Israel have declined in the purchase of frozen beef imports.

The supermarket and hypermarket segment are expected to grow at the fastest CAGR during the forecast period. In 2018, the online segment holds the largest share in the frozen meat market owing to advancements in technology across the world. The growing youth population, especially in the metros, is expected to be a key consumer set for active players such as Big Basket and Grofers which are top players in online grocery retailing.

In 2018, the Asia Pacific region holds the largest market share and is expected to grow at a CAGR of 5.2% over the forecast period. This growth is majorly due to the high import and consumption of meat in the region. The increasing penetration of e-commerce, the rising number of food joints, and eateries are some of the factors driving the market. Moreover, the growing popularity of healthy products among Chinese people is also driving the demand for frozen meat. Consumers especially aged between 20 years to 35 years eat healthy meat products once a week. In Urban areas, the dumpling is found to be the most consumed product. The younger population as mentioned in the above age group also buy meat products from online retailers. For instance, in 2017, 64% of the population in China was in the 16-59 years age group which presents growth prospects for the online channel.

Further key findings from the report suggest:

• Frozen meat market is projected to grow at a CAGR of 4.4% between, 2019 to 2025.

• Based on product type segment, frozen beef is expected to grow at the highest CAGR over the forecast period.

• Based on the distribution channel, the supermarket and hyper market is expected to grow at the fastest CAGR, during the forecast period.

• Asia Pacific region is expected to grow at the fastest CAGR of 5.2% from 2019 to 2025, due to the presence of developing countries such as China & Japan.

Global Frozen Meat Market: Key Players

Kerry Group Plc.; Associated British Foods Plc.; Marfrig Group.; BRF S.A.; Pilgrim’s Pride Corporation, Inc.; Verde Farms, LLC; Tyson Foods; and Arcadian Organic & Natural Meat Co.

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Europe Composites Market Demand, Business Prospects till 2025

The Europe composites market size is projected to reach USD 27.5 billion by 2025 and anticipated to grow at a CAGR of 7.5% during the forecast period 2019 to 2025. Rising demand for lightweight composites in automotive industry is a major factor to drive the regional market growth. In addition, growth of Europe aerospace & defense industry has triggered the demand for composites in recent years and this trend is anticipated to continue over the forecast period. The presence of a large number of aerospace giants including Ariane Group, Dassault Aviation, and Airbus has augmented the product demand in this region.

Due to growing fuel price, the demand for fuel-efficient vehicles has increased. Additionally, rising environmental concern and strict government regulations for the emission of harmful gases is enforcing automotive manufacturers to develop lightweight vehicles, thereby expected to fuel the market growth. Vehicle weight plays an important role to affect vehicle emission of harmful gasses and fuel efficiency. Thus, favorable lightweight properties of composites replaced the usage of steel and aluminum in the automotive industry, which is projected to drive the regional market growth. In Europe, strict government regulations are enforcing OEMs to manufacture low gas emission vehicles, thereby expected to rise in the application of composites in the manufacturing of vehicles.

In 2018, glass fiber accounted for the largest Europe composites market share of 60.3% in terms of revenue. The growth of wind energy and automotive industries is expected to surge the market growth in this region. Carbon fiber is projected to register 10.0% CAGR in terms of volume over the forecast period due to rising application of composite material in the construction industry.

Thermoplastic resin is estimated to grow at the fastest CAGR of more than 9.0% in terms volume, from 2019 to 2025. Rising demand for high performance and cost-effective resins in the renewable energy industry is projected to propel the market growth in Europe.

Further key findings from the report suggest:

• In 2018, the market was valued USD 16.6 billion and is expected to register at a CAGR of 7.5% during the forecast period, from 2019 to 2025.

• In 2018, the thermosetting segment dominated the Europe market and is projected to exhibit a CAGR of more than 7.0% in terms volume over the forecast period due to its extensive use in high temperature applications.

• In 2018, resin transfer molding process sales was 164.1 kilo tons and projected to witness significant growth during the forecast period. RTM is reliable process for gaining high strength-to-weight ratio as well as mid-volume production from 200 to 10,000 parts in a year.

• Wind energy segment is expected to witness robust growth in Europe, from 2019 to 2025.

• The France market was estimated around USD 3.0 billion and projected to register over 7.0% over the forecast period. The growth is attributed to advancement in manufacturing facilities of automotive and aerospace sectors.

Europe Composites Market: Key Players

Teijin Limited, Owens Corning, Toray Industries, and Hexcel Corporation.

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