Chinese Composites Market Trends and Forecast
Lucintel finds that the future of the Chinese composites material market looks promising with opportunities in transportation, marine, wind energy, aerospace, pipes and tanks, construction, electrical and electronics, and consumer goods end uses. Chinese composites market is expected to reach an estimated $21 billion by 2030 with a CAGR of 5% from 2024 to 2030. The major growth driver for this market are increasing demand for composites in the transportation industry, growth in building and construction industry, and growth in new installation of wind turbines will boost the demand for composite materials.
Composites are usually produced from raw materials like carbon, glass and aramid fibers, epoxy, polyester and vinyl ester resins and fillers or reinforcements. Composites can be more expensive than metals or plastics mainly because of their advanced features such as high strength to weight ratio and corrosion resistance. Nevertheless, there are cost advantages in the use of these materials especially when they have superior performance qualities. This is commonly found in aerospace engineering and automotive sectors as well as construction industry where there is need for lightweight parts made of strong materials which don’t corrode easily.
• Lucintel forecasts that, glass fiber will remain the largest segment as it is relatively lower cost than other fibers, and their physical properties meet many of the end uses, such as transportation, marine, wind energy, aerospace, and others, needs in the composites industry.
• Construction segment is expected to witness the highest growth over the forecast period due to increased opportunities in low-carbon construction, including green buildings, renewable energy, and water conservation. Aerospace is expected to witness the highest growth over the forecast period.
Country wise Outlook for the Chinese Composites Market
Emerging Trends in Chinese Composites Market
Emerging trends in Chinese composites are shaping its future applications and market dynamics:
• Increased Demand in Automotive Sector: The automotive industry is leaning towards composites to reduce vehicle weight and for better fuel efficiency. Composite materials are being increasingly adopted by Chinese manufacturers who would like to make cost-effective solutions for mass production.
• Advancements in Aerospace Applications: Advanced composites are the focus of Chinese companies for aerospace applications that include aircraft structures and components. The direction of this trend is dictated by the need of light-weight materials that can improve fuel consumption, as well as reducing global warming effects.
• Growing Nanostructured Composites: To enhance mechanical properties and functional characteristics of composites nanotechnology is applied. Researchers from China are exploring the use nanomaterials such as carbon nanotubes, graphene, nanocellulose among others in order to improve strength-to-weight ratios, electrical conductance and thermal conductivity.
• Bio-based and Recycled Materials: Manufacturers are now aiming at developing eco-friendly resins used in composite manufacturing. These resins are made from soybean oil, corn starch or lignin derived from renewable sources the main aim being to reduce environmental pollution. Also there has been a growing preference for recycled fibers and materials in composites manufacturing with an emphasis on sustainability targets and reduction of environmental impact.
• Expansion in Renewable Energy: Increasing demand for wind turbine blades and other renewable energy applications will drive growth of composite materials globally. Chinese companies have put technology into investing heavily on large scale composite structures which offer high strength as well as long life span.
• Infrastructural Construction: Bridges, buildings, pipelines etc., all involve new application areas where composite materials have gained currency over time. Moving away from traditional products made using steel or concrete material; Chinese firms prefer durable infrastructure involving easy assembly processes with enhanced corrosion resistance properties through composites.
These trends indicate a dynamic and evolving landscape in the Chinese composites market, with a strong focus on innovation, sustainability, and strategic collaborations to capitalize on emerging opportunities across various sectors.
A total of 64 figures / charts and 60 tables are provided in this 175-page report to help in your business decisions. A sample figure with insights is shown below.
Recent Developments by the Chinese Composites Market
Recent developments in Chinese Composites by highlighting ongoing innovations and advancements across different sectors
• Extension of Automotive Applications: Chinese companies’ emphasis is increasingly on automotive applications with regard to composite materials. The production of lightweight elements is given much attention so as to improve the fuel efficiency and meet increased demands for environmentally friendly vehicles. In particular, Jushi Group and China Composites Group (CCGC) are supplying carbon fiber and glass fiber composites to car manufacturers.
• Advances in Technology: The level of technology has improved significantly within Chinese composites industry. For instance, there have been developments in automated manufacturing methods like automated tape laying (ATL) and automated fiber placement (AFP) which are known for improving efficiency and accuracy while making composite parts.
• Growth in Aerospace Sector: Chinese composites producers are critical material suppliers to aerospace sector. AVIC Composite Corporation and Sinoma Advanced Materials among other firms produce high performance composite materials used for aircrafts structures and components. They are mainly focused on developing lightweight yet strong materials that can enhance aircraft performances as well as fuel efficiency.
• Renewable Energy Investments: With the global shift towards renewable energy resources, Chinese composites business organizations have expanded their footprint into wind energy sector. For example, they supply materials required for manufacturing wind turbine blades that demand high strength-to-weight ratio materials with ability to resist harsh environmental conditions.
Strategic Growth Opportunities for Chinese Composites Market
The Chinese market for composites presents numerous growth opportunities that are strategic, influenced by changing industry trends and altered market dynamics.
• Expansion of the Automotive Sector: China is the largest motor vehicle market in the world therefore offering significant growth prospects on the use of composites for lightweighting vehicles. This trend can be exploited by manufacturers through development of advanced composite materials featuring high fuel efficiency, durability and design flexibility.
• Infrastructure Development: Ongoing infrastructure projects like construction of bridges, railways and buildings taking place in China provide room for composites in structural applications. Composite materials have advantages such as corrosion resistance, high strength to weight ratio and ease of installation that contribute to sustainable infrastructure development.
• Renewable Energy: The shift towards renewable energy sources particularly wind energy and solar power in China has necessitated use of composites for turbine blades, nacelles and photovoltaic panels. Innovations in composite materials enable improved efficiency and durability within these applications.
• Electronics/Consumer Goods: Increasing electronics/ consumer goods industries in China open a door for composites to be used in mobile devices, sporting goods among other housewares. Lightweight composites enhance product performance, durability as well as aesthetics hence meeting consumer needs for quality products with creativity.
• Environmental Sustainability: Demand for sustainable materials is driven by increasing environmental regulations and customer awareness. In order to minimize the impact on environment manufacturers may come up with eco-friendly composites using bio-based resins, recycled fibers or improved recycling technologies.
• Technological Advancements: Further investments into research and development on composite manufacturing processes such as automated production processes, 3D printing; nano-technology could result into improved product performance at reduced costs with increased possibilities of application.
• International Collaboration & Export Opportunities: To expand globally, Chinese composite manufacturers can seek international partnership as well as export markets. Through technology transfer strategic collaborations or joint ventures together with entry initiatives may facilitate access to new markets coupled with technologies.
By capitalizing on these strategic growth opportunities, Chinese composite manufacturers can overcome such market challenges raw material costs, regulatory compliance and competition to secure a position for sustainable growth in the dynamic global composites market
Chinese Composites Market Drivers and Challenges
The Chinese composites market is driven by rapid industrialization, infrastructure development, and a growing automotive sector emphasizing lightweighting and sustainability. These factors fuel demand for composite materials known for their strength and versatility across construction, renewable energy, and consumer goods. However, challenges such as reliance on imported raw materials, quality control issues, and global competition pose significant hurdles.
The key drivers for the Chinese composites market include:
1. Industrial Growth and Infrastructure Development: China’s rapid industrialization and ongoing infrastructure projects drive demand for composites in the construction, transportation and energy sector. Composite materials are key to modern infrastructure development because of their advantages such as lightweighting, corrosion resistance and design flexibility.
2. Automotive Lightweighting Initiatives: As China aims to reduce vehicle emissions and improve fuel efficiency, there is an increasing adoption of composites in automotive manufacturing. These lightweight materials not only help achieve these goals but also enhance vehicle performance as well as safety.
3. Renewable Energy Expansion: China's focus on renewable energy sources like wind and solar power supports the demand for composites in wind turbine blades, nacelles, and solar panels. In order to grow the renewable energy industry, composites offer durability which is highly important for this sector as well as efficiency benefits.
4. Electronics and Consumer Goods Industry: Consumer electronics products including smartphones, laptops and sporting goods require composites due to explosive growth of electronics industry China. Consumer electronics need lightweight solutions that are durable and aesthetically pleasing; hence high tech goods made from composite material provides all these attributes.
5. Advanced Technology: Continuous innovation in composite manufacturing technologies such as automated production processes, advanced resin systems and composite recycling technologies enhances product performance while reducing production costs over time.
6. Environmental Regulations and Sustainability: Increased environmental regulations combined with customer preferences for environmentally friendly materials drive the adoption of ‘green’ or eco-friendly composites by different manufacturers. Chinese firms are employing bio-based resins recycled fibers as well sustainable production methods towards meeting regulatory demands among other market needs.
The key challenges for the Chinese composites bagging market include
1. Raw Material Availability and Costs: The use of imported raw materials like carbon fiber or resin systems has led to a number of issues tied to supply chain stability as well price fluctuations. This means that ensuring a steady supply at reasonable rates is therefore critical for maintaining long-term viability within China’s expanding composite market.
2. Quality Control and Standards: Consistency in quality products together with adherence international standards still pose challenges faced by companies involved in this business segment in China. Quality control issues need to be addressed as well as certifications sought after so that product credibility can be enhanced leading to global competitiveness of the same.
3. Technological and Skills Gap: Closing the gap between technology, skill relating to process and application of composites innovations is still needed despite advancement. It is through workforce training that investment can be done while collaboration with academic institutions would also be appropriate so as to create innovation driven human resources required in this industry.
4. Competition from Global Players: Chinese composite manufacturers face competition from established global players with advanced technologies and established market presence. To compete effectively within the global composites market there must be product differentiation through innovation, quality and value addition thus creating a unique selling proposition.
5. Market Fragmentation and Overcapacity: The Chinese composites market is characterized by fragmentation, with numerous small and medium-sized enterprises (SMEs) operating alongside larger companies. Thus, certain segments have excess capacity which could lead to price wars resulting in lower profit margins affecting profitability and market stability.
Strategic initiatives by stakeholders in the Chinese composites market including manufacturers, government agencies and industry associations are needed for navigating these drivers and challenges. This means that Chinese composites manufacturers can leverage on growth opportunities Fourthly they should improve their products’ resilience along the supply chain while enhancing product quality as well as innovation before embracing sustainability practices so as strengthen their position globally.
Chinese Composites Suppliers and Their Market Shares
In this Chinese composites market, several key players such as, China Jushi Co.Ltd, Chongqing Polycomp International Corporation, Owens Corning, Taishan Fiberglass Inc., Yantai Tayho Advanced Materials Co. Ltd, Xinyang Technology Group, Mitsubishi Chemical Corporation, etc. dominate the market and contribute to industry’s growth and innovation. These players capture maximum market share. To know the current market share of each of major players Contact Us.
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 Chinese composites companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the Chinese composite materials companies profiled in this report includes.
• China Jushi Co.Ltd,
• Chongqing Polycomp International Corporation,
• Owens Corning
• Taishan Fiberglass Inc.,
• Yantai Tayho Advanced Materials Co. Ltd,
• Xinyang Technology Group
• Mitsubishi Chemical Corporation
• Solvay group
• Polynt Group
These companies have established themselves as leaders in Chinese composites industry with extensive product portfolios, global presence, and strong research and development capabilities. They continually strive to enhance their market positions through strategic partnerships, mergers and acquisitions, and product innovations.
The market share dynamics within Chinese composites market are evolving, with the entry of new players and the emergence of innovative technologies. Additionally, collaborations between material suppliers, manufacturers, and end-users are fostering technological advancements and expanding market opportunities.
Chinese Composites Market by Segment
China’s composites industry is recording strong growth in some main areas. The use of lightweight composites to improve vehicle efficiency and meet demanding environmental policies in the automotive sector has shifted significantly thanks to the popularity of electric autos. Composite materials remain crucial in aerospace for significant weight savings and fuel efficiency benefits through aircraft structures as well as interior applications. As a result, wind energy uses composites that are known to be exceptionally strong, long lasting and able to withstand various environmental conditions including heavy winds which hit the turbine blades at a high velocity. In construction and infrastructure, they have a wide range of applications such as bridges, pipelines among others because they have better performance than those made from other materials due to properties like corrosion resistance, design flexibility, and durability. Furthermore renewable energy besides wind is supported by composites through lightweight solutions for structural components and panel supports in solar power systems. These sectors underline China’s strategic commitment to technology development, environmental consciousness and global expansion in the composite market globally.
Chinese Composite Materials Market by End Use [Value ($M) and Volume (Million Pounds) Shipment Analysis for 2018 – 2030]:
• Transportation
• Marine
• Wind Energy
• Aerospace
• Pipe & Tank
• Construction
• Electrical & Electronics
• Consumer Goods
• Other End Uses
Chinese Composite Materials Market by Fiber Type [Value ($M) and Volume (Million Pounds) Shipment Analysis for 2018 – 2030]:
• Glass Fiber
• Carbon Fiber
• Aramid Fiber
Chinese Composite Materials Market by Manufacturing Process [Value ($M) and Volume (Million Pounds) Shipment Analysis for 2018 – 2030]:
• Hand Lay up
• Spray Up
• Injection Molding
• Compression Molding
• Filament Winding
• Pultrusion
• Prepreg Lay up
• Resin Infusion
• Others manufacturing process
Features of Chinese Composite Materials Market
• Market Size Estimates: Chinese composite materials market size estimation in terms of value ($M) and volume (M lbs)
• Trend and Forecast Analysis: Market trends (2018-2023) and forecast (2024-2030) by various segments.
• Segmentation Analysis: Market size by end use, manufacturing process, and fiber type.
• Growth Opportunities: Analysis of growth opportunities in different end use, manufacturing process, and fiber type for the Chinese composite materials market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape for the Chinese composite materials market.
• Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
If you are looking to expand your business in Chinese composites market or adjacent markets, then contact us. We have done hundreds of strategic consulting projects in market entry, opportunity screening, due diligence, supply chain analysis, M & A, and more.
FAQ_
Q1. What is the Chinese composites market size?
Answer: The Chinese composites market is expected to reach an estimated $21 million by 2030.
Q2. What is the growth forecast for Chinese composites market?
Answer: The Chinese composites market is expected to grow at a CAGR of 5% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the Chinese composites market?
Answer: The major growth driver in this market is increasing demand for composites in the transportation industry, growth in building and construction industry growth in new installation of wind turbines will boost the demand for composite materials
Q4. What are the major end use industries for Chinese composites market?
Answer: Construction and electrical and electronics are the major applications for Chinese composites market.
Q5. What are the emerging trends in Chinese composites market?
Answer: Emerging trends, which have a direct impact on the dynamics of the Chinese composites market, includes the increased demand in automotive sector, advancements in aerospace applications, growing nanostructured composites, bio-based and recycled materials, and expansion in renewable energy.
Q6. Who are the key Chinese composites market companies?
Answer: Some of the key Chinese composites market companies are as follows:
• China Jushi Co.Ltd,
• Chongqing Polycomp International Corporation,
• Owens Corning, Taishan Fiberglass Inc.,
• Yantai Tayho Advanced Materials Co. Ltd,
• Xinyang Technology Group,
• Mitsubishi Chemical Corporation,
• Solvay group
• Polynt group
• Swancor Ind. Co., Ltd
• Nan Ya Plastics Corporation
• Hexion Inc.
• Wanhua Chemical Group Co. Ltd
Q7.Which Chinese composites market material segment will be the largest in future?
Answer: Lucintel forecasts that, construction is expected to be the largest end use due to increased opportunities in low-carbon construction, including green buildings, renewable energy, and water conservation.
Q8. 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 Chinese composites market by end use (transportation, marine, wind energy, aerospace, pipes and tanks, construction, electrical and electronics, consumer goods, and others), manufacturing process (hand lay up, spray up, resin infusion, pultrusion, injection molding, compression molding, filament winding, prepreg layup, and other manufacturing process), and fiber type (glass fiber, carbon fiber, and aramid fiber)?
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?