According to the research report titled ‘Structural Composites Market Size By Matrix, By Sector, Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026’, available with Market Study Report, global structural composites market is expected to register substantial growth during 2020-2026.
 

Increasing construction activities along with rising adoption of lightweight and high strength composites for sports items are major factors driving the growth of global structural composites market. Development of various protective sportswear using carbon fiber and fiberglass composites to enhance the performance of athletes is augmenting the market outlook.
 

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For those uninitiated, a composite material is produced when materials with different features are combined and used as a single material. There has been a surge in adoption rates of fiber-reinforced composite materials, which are primarily made from carbon fibers or silicon carbide fibers. These materials help in developing lightweight structures with high strength.
 

Increasing utilization of composites in spacecraft and aircraft components is also stimulating the industry outlook. Moreover, structural composites are widely adopted in various industry verticals such as architecture, construction & infrastructure, automotive, marine, energy, and military among others.
 

As per matrix type, polymer segment is expected to lead with 80% market share by the year 2026, primarily driven by its widespread applications in end-use industries and cost efficient nature.
 

In terms of reinforcement materials, the others segment, which includes natural fibers, ceramics, boron fiber, and graphite fiber, is predicted to expand with a CAGR of 4.5% between 2020 and 2026. Rapid expansion of transportation, energy, and construction sectors is fueling the segmental share.
 

Moving on to sector type, the report states that the others segment, comprising of piping and sport goods applications, is anticipated to experience a y-o-y growth rate of 4% through 2026. Growing demand for lightweight and high strength composites for manufacturing sporting equipment is facilitating the business scenario.
 

From the regional point of view, structural composites market in Middle East & Africa is slated to record 8% CAGR during 2020-2026. Proliferating construction sector and booming energy and transportation verticals are augmenting the demand for structural composites, which in turn is favoring the market outlook in Middle East & Africa.
 

Argosy International Inc., Norplex-Micarta, Janicki Industries Inc., SGL Group, Owens Corning, Huntsman Corporation, Toray Industries Inc., Mitsubishi Chemical Holdings Corp., Solvay S.A., Teijin Limited, Hexion Inc., and Hexcel Corporation are the key participants in worldwide structural composites market.