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BRIC Composites Market Trends and Forecast

The future of the BRIC composites market looks promising with opportunities in the in the pipes & tanks, transportation, wind energy, aerospace & defense, construction, marine, electrical & electronics application.The BRIC composites market is expected to reach an estimated $25 billion by 2030 with a CAGR of 5% 2023 to 2030.  The major driver for market growth is the rise in demand for wind energy, construction, and pipe and tank end uses due to increase in the number of government projects like smart cities development, eco-friendly energy generation, fresh water transportation, sewage treatment system, rehabilitation of water and sewage pipe lines.

Lucintel forecasts that construction will remain the largest end use over the forecast period due to widespread acceptance and excellent corrosion resistance properties. Wind Energy is expected to witness highest growth over the forecast period.
BRIC Composites Market by End Use

 

Aerospace and defense is expected to witness highest growth in the BRIC Composites Market

Brazil: Companies like Braskem and Composites do Brasil are investing in R&D for advanced composite materials, targeting applications in automotive and construction sectors. The government aims to promote the use of composites in infrastructure projects to boost the economy and reduce environmental impact.
Russia: Russian companies such as
TechnoNICOL Corporation and RUSNANO Group are focusing on developing composites for energy and aerospace sectors. The government aims to support innovation in composites through funding and partnerships to enhance industrial competitiveness.
India: Indian companies like
Reliance Industries and TATA Advanced Materials are investing in composites for infrastructure and defense projects. The government aims to promote domestic manufacturing of composites through incentives and policy support.
China: Chinese companies such as
Jushi Group and China Composites Group are investing in technology development for high-performance composites, targeting applications in renewable energy and transportation. The government aims to promote the use of composites in key industries to enhance competitiveness and sustainability.

Emerging Trends in the BRIC Composites Market

Emerging trends, which have a direct impact on the dynamics of the industry, include include innovation trends focused on high tensile strength, innovation trends focused on high tensile modulus and glass fiber based composites part using 3D technology, low styrene content unsaturated polyester resin.
A total of 107 figures / charts and 68 tables are provided in this 205-page report to help in your business decisions. A sample figure with insights is shown below. 

 

BRIC Composites Market by Segments

BRIC Composites Market by Segment

The study includes a forecast for the BRIC composites market by end use, and country as follows:

BRIC Composites Market by End Use [Value ($M) and Volume (M lbs) Shipment Analysis for 2018 – 2030]:

BRIC Composites Market by Country [Value ($M) Volume (M lbs) Shipment Analysis for 2018 – 2030]:

List of BRIC Composites Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies BRIC composites companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the BRIC composites companies profiled in this report includes.
  • Chongqing Polycomp International Corporation
  • Owens Corning
  • Jushi Group Co., Ltd.
  • Toray Industries Inc.
  • Teijin Limited
  • Polynt Group
  • Ineos Composites

Features of BRIC Composite Market

  • Market Size Estimates: BRIC composite market size estimation in terms of value ($B) and volume (M lbs)
  • Trend and Forecast Analysis: Market trends (2018-2023) and forecast (2024-2030) by various segments and countries.
  • Segmentation Analysis: Market size by end use industry and country
  • Growth Opportunities: Analysis of growth opportunities in different end use and country for the BRIC composite market.
  • Strategic Analysis: This includes M&A, new product development, and competitive landscape for the BRIC composite market.
  • Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

FAQ

Q1. What is the BRIC composites market size?
Answer: The BRIC composites market is expected to reach an estimated
 $25 billion by 2030 .
Q2. What is the growth forecast for BRIC composites market?
Answer: The BRIC composites market is expected to grow at a CAGR of 5% from 2023 to 2030.        
Q3. What are the major drivers influencing the growth of the BRIC composites market?
Answer: The major driver for market growth is the rise in demand for wind energy, construction, and pipe and tank end uses due to increase in the number of government projects like smart cities development, eco-friendly energy generation, fresh water transportation, sewage treatment system, rehabilitation of water and sewage pipe lines.
Q4. What are the major applications or end use industries for BRIC composites?
Answer: Construction and Wind Energy  are the major Application for BRIC composites. 
               
Q5. What are the emerging trends in BRIC composites market?
Answer: Emerging trends, which have a direct impact on the dynamics of the industry, include innovation trends focused on high tensile strength, innovation trends focused on high tensile modulus and glass fiber based composites part using 3D technology, low styrene content unsaturated polyester resin.
Q6. Who are the key BRIC composites companies?
Answer: Some of the key BRIC composites companies are as follows:
  • Chongqing Polycomp International Corporation
  • Owens Corning
  • Jushi Group Co., Ltd.
  • Toray Industries Inc.
  • Teijin Limited
  • Polynt Group
  • Ineos Composites
Q7. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.


This report answers following 10 key questions

Q.1 What are some of the most promising potential, high growth opportunities for the  BRIC composites market by end use (pipe and tank, transportation, wind energy, aerospace and defense, construction, marine, electrical and electronics, and others) and country (Brazil, Russia, India and China)?
Q. 2 Which segments will grow at a faster pace and why?
Q.3 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.4 What are the business risks and threats to the market?
Q.5 What are the emerging trends in this market and the reasons behind them?
Q.6 What are the changing demands of customers in the market?
Q.7 What are the new developments in the market? Which companies are leading these developments?
Q.8 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.9 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via material or product substitution?
Q.10 What M & A activities have taken place in the last 5 years in this market?

For any questions related to BRIC composites market or related to BRIC composites market share, BRIC composites market analysis, BRIC composites market size, and BRIC composites manufacturers, write to Lucintel analysts at
helpdesk@lucintel.com. We will be glad to get back to you soon.
Table of Contents
1. Executive Summary
 
2. BRIC Composites Market Dynamics
2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges
 
3. Market Trends and Forecast Analysis from 2018 to 2030
3.1: Macroeconomic Trends and Forecasts
3.2: BRIC Composites Market Trends and Forecast
3.3: BRIC Composites Market by End Use
3.3.1: Pipes and Tanks
3.3.2: Transportation
3.3.3: Wind Energy
3.3.4: Aerospace and Defense
3.3.5: Construction
3.3.6: Marine
3.3.7: Electrical and Electronics
3.3.8: Others
 
4. Market Trends and Forecast Analysis by Country
4.1: BRIC Composites Market by Country
4.2: Brazilian Composites Market
4.2.1: Brazilian Composites Market by End Use
4.3: Russian Composites Market
4.3.1: Russian Composites Market by End Use
4.4: India Composites Market
4.4.1: India Composites Market by End Use
4.5: China Composites Market
4.5.1: China Composites Market by End Use
 
5. Competitor Analysis
5.1: Product Portfolio Analysis
5.2: Market Share Analysis
5.3: Operational Integration
5.4: Geographical Reach
5.5: Porter’s Five Forces Analysis
 
6. Growth Opportunities and Strategic Analysis
6.1: Growth Opportunity Analysis
6.1.1: Growth Opportunities for the BRIC Composites Market by End Use
6.1.2: Growth Opportunities for the  BRIC Composites Market by Country
6.2: Emerging Trends in the BRIC Composites Market
6.3: Strategic Analysis
6.3.1: New Product Development
6.3.2: Mergers and Acquisitions
 
7. Company Profiles of Leading Players
7.1: Chongqing Polycomp International Corporation
7.2: Owens Corning
7.3: Jushi Group 
7.4: Toray Industries 
7.5: Teijin Limited
7.6: Polynt Group
7.7:Ineos Composites

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107 figures/charts and 68 tables are provided in this 205-page report
Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
  • In-depth interviews of the major players in this market
  • Detailed secondary research from competitors’ financial statements and published data 
  • Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
  • A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
 
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process.