Composites Distributor Market

Market Overview:

The global composites distributor market size reached US$ 6.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 9.2 Billion by 2032, exhibiting a growth rate (CAGR) of 4.77% during 2024-2032. The growing demand for lightweight materials across various industrial verticals, the expanding infrastructural development across the globe, and ongoing technological advancements in the composites industry are some of the major factors propelling the market. 

Composites are made by combining two or more different materials, typically a reinforcing fiber and a resin matrix, to create a stronger and more durable material. A composites distributor is a company that specializes in the distribution and supply of composite materials to various industries. They act as an intermediary between composite manufacturers and end-users, providing a wide range of composite materials, such as carbon fiber, fiberglass, aramid fiber, and associated products. In addition to this, it offers services like technical support, logistics, and just-in-time delivery to meet the specific needs of its customers.

The global composites distributor market is expected to grow due to the growing demand for lightweight and durable materials across the aerospace, automotive, construction, and wind energy industries to improve their overall productivity and enhance fuel efficiency. Besides this, the rising focus on sustainability across sectors are contributing to the market growth as composites are recyclable, eco-friendly, and energy-efficient with a longer product lifespan. Moreover, the bolstering growth of the construction industry and ongoing infrastructural development of bridges, buildings, and transportation networks across the globe is impelling the demand for composite materials with superior strength and durability. In addition to this, continuous technological advancements in composite material, such as the development of new fibers, resins, and manufacturing processes, enhancing product performance and versatility, will propel the market forward during the forecast period.

Composites Distributor Market Trends/Drivers:

Growing demand for lightweight and durable materials

One of the primary drivers of the global composites distributor market is the rising demand for lightweight and durable materials. Various industries, such as transportation, marine, wind energy, and construction, are seeking to adopt materials that offer high strength while being lightweight. Composites, with their exceptional strength-to-weight ratio, fulfill this requirement, providing desired structural integrity while reducing the overall weight of the final product, leading to improved fuel efficiency, enhanced performance, and cost savings. This presents remunerative growth opportunities for the market. Besides this, composites are chemical and corrosion-resistant and are therefore widely employed in pipe, tank, and construction fields, which, in turn, is contributing to the market growth.

Expanding applications of composites across the automotive and aerospace industries

The aerospace and automotive sectors are significant consumers of composite materials due to their unique properties. Due to a growing shift towards lightweight materials, there is a increasing demand for composites distributors to provide a diverse range of materials, including different types of fibers, resins, and additives, to cater to specific industry needs, improve fuel efficiency, and reduce emissions. Furthermore, the surging demand for electric vehicles (EVs) and the rising need for air travel are presenting remunerative growth opportunities for the market. In addition to this, the implementation of stringent regulations to reduce carbon dioxide emissions are propelling the market forward.

Technological advancements in composite materials

Technological advancements play a pivotal role in driving the global composites distributor market. Continuous research and development (R&D) efforts have led to significant improvements in composite materials, manufacturing processes, and performance characteristics, which, in turn, is creating a positive outlook for the market growth. Besides this, the introduction of advanced fibers, resins, and additives with improved strength, durability, fire resistance, and other desirable properties, as well as the refinement of manufacturing techniques, such as automated manufacturing and 3D printing, are aiding in market expansion. Furthermore, numerous leading composite distributors are partnering with manufacturers and collaborating with research institutions to facilitate innovation and efficient supply chain management, which is significantly contributing to the market growth.

Composites Distributor Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global composites distributor market report, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on fiber type, resin type, and application.

Breakup by Fiber Type:

• Glass Fiber Composites
• Carbon Fiber Composites
• Natural Fiber Composites
• Others
   

Glass fiber composites are dominating the composites distributor market

The report has provided a detailed breakup and analysis of the composites distributor market based on the fiber type. This includes glass fiber composites, carbon fiber composites, natural fiber composites, and other.  According to the report, glass fiber composites represented the largest segment.

The key factor driving the market growth is the rising demand for glass fiber composites across the construction industry for applications such as reinforced concrete structures, fiberglass panels for cladding and roofing, bridge components, pipes, and tanks. Besides this, the expanding adoption of renewable energy resources, such as wind and hydroelectric, wherein carbon fiber composites are employed to manufacture turbine blades, is positively impacting the market growth. In addition to this, the rising popularity of natural fibers due to their eco-friendliness and cost-effectiveness are presenting remunerative growth opportunities for the market.

Breakup by Resin Type:

• Thermoset Composites
• Thermoplastic Composites
• Others
   

Thermoset composites are dominating the market

A detailed breakup and analysis of the composites distributor market based on the resin type has also been provided in the report. This includes thermoset composites, thermoplastic composites, and other. According to the report, thermoset composites accounted for the largest market share.

The composite distributor market is primarily driven by the surging use of thermoset composites across the electrical and electronics industry to manufacture circuit boards, electrical insulators, and housings due to their excellent electrical insulation properties and dimensional stability. Besides this, the growing demand for surgical instruments, implantable devices, orthopedic components, and prosthetics made from thermoplastic composites, as they are biocompatible, lightweight, and customizable, is aiding in market expansion. Furthermore, thermosets and thermoplastics are widely used in the aerospace industry to produce aircraft structures, interiors, and engine components, which, in turn, is propelling the market forward.

Breakup by Application:

• Aerospace and Defense
• Wind Energy
• Automotive Transportation
• Construction and Infrastructure
• Marine
• Pipes and Tanks
• Electrical and Electronics
• Others
   

Construction and infrastructure hold a larger share in composites distributor

The report has provided a detailed breakup and analysis of the composites distributor market based on the application. This includes aerospace and defense, wind energy, automotive transportation, construction and infrastructure, marine, pipes and tanks, electrical and electronics, and others.  According to the report, construction and infrastructure represented the largest segment.

The bolstering growth of the aerospace and automotive industry represents the prime factor driving the market growth. Besides this, rapid urbanization and significant infrastructural development across the globe are strengthening the market growth. In addition to this, the increasing adoption of renewable energy resources, such as wind and hydroelectric, due to escalating consumer concerns about the environment and climate, is positively impacting the market growth. Concurrent with this, the extensive focus on sustainability across various industrial verticals are propelling the adoption of composites as they are recyclable and energy efficient.

Breakup by Region:

• North America
  • United States
  • Canada
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Others
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Asia Pacific exhibits a clear dominance, accounting for the largest composites distributor market share

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific was the largest market for composites distributor market.

The prime factors driving the market of composite distributors in North America are the increasing demand for composites and the presence of many medium and small composite part manufacturers in the region. Moreover, the significant expansion of the aerospace, automotive, and renewable energy sectors is creating a favorable outlook for the market.

Europe is estimated to expand further in this domain during the forecast period due to the extensive focus on sustainable and energy-efficient construction practices and the shifting consumer preference for renewable energy resources such as wind. Concurrent with this, rapid urbanization and industrialization across the Asia Pacific region, particularly countries like China and India, is creating a surging demand for composites across the automotive, aerospace, construction, and electrical sectors.

Competitive Landscape:

The global composites distributor market is characterized by the presence of several players, with established players leading the market trends. These companies are focusing on forward integration by providing their products directly to end-users across different industry verticals and using an established distribution and sales network to connect with their customers. The competitive rivalry among manufacturers of composites is high as the market is characterized by the presence of several global and regional players. Multiple initiatives, including research and development, technology innovations, partnerships, acquisitions, and mergers, have been commenced by many prominent players to produce economical and lightweight composite products. However, the high processing and manufacturing costs of composites are challenging the growth and profitability of composite manufacturers across the globe.

The report has provided a comprehensive analysis of the competitive landscape in the global composites distributor market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:           

• Composites One LLC (Synergy55 Inc.)
• Euroresins International GmbH
• FRP Services & Company
• Gazechim
• North American Composites (IP Corporation)
• Oy Kokko-Fiber Ab (IMCD N.V.)
• Toray International Inc.

Recent Developments:

• In September 2023, Gazechim Composites Group announced a partnership with European process materials manufacturer ‘Aerovac-Composites One’ to strengthen the global offering of advanced composites with recognized, approved and certified products.
• In May 2023, Toray Industries, Inc. concluded a four-year global partnership agreement with star Japanese sprinter ‘Abdul Hakim Sani Brown’ to pursue various sustainability initiatives.
• In May 2021, Composites One acquired the Process Materials business from the Solvay Composites Materials Global Business. This offered the company a unique opportunity to add international production and sales capabilities in specialized materials.

Composites Distributor Market Report Scope:

Key Questions Answered in This Report:

• How has the global composites distributor market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global composites distributor market?
• What is the impact of each driver, restraint, and opportunity on the global composites distributor market?
• What are the key regional markets?
• Which countries represent the most attractive composites distributor market?
• What is the breakup of the market based on the fiber type?
• Which is the most attractive fiber type in the composites distributor market?
• What is the breakup of the market based on the resin type?
• Which is the most attractive resin type in the composites distributor market?
• What is the breakup of the market based on the application?
• Which is the most attractive application in the composites distributor market?
• What is the competitive structure of the global composites distributor market?
• Who are the key players/companies in the global composites distributor market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the composites distributor market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global composites distributor market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the composites distributor industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.