Pune, India -- (SBWIRE) -- 03/12/2018 -- The Global Polyurethane Composites Market accounted for USD 573.1 million in 2016 and projected to grow at a CAGR of 6.3% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2014, 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.

Polyurethane composites are the composition of function of the density of the polymeric matrix and the length of the fiber reinforcement. The development of the polyurethane composite platform started with the development of suitable formulations for fabrication processes using chopped fibers. It has its wide application in transportation, building & construction, electrical & electronics, wind power energy, petrochemical, sports & leisure, and aerospace & defense. Increased adoption in the manufacturing of fuel efficient vehicles, and increased usage in wind power energy industry. High processing and manufacturing cost of polyurethane composites may hamper the market.

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Major Market Drivers & Restraints: Global Polyurethane Composites Market

- Increased adoption in the manufacturing of fuel efficient vehicles
- Increased usage in wind power energy industry
- High processing and manufacturing cost of polyurethane composites

Market Segmentation: Global Polyurethane Composites Market
The global polyurethane composites market is segmented on the basis of fiber type into glass fiber polyurethane composites, and carbon fiber polyurethane composites.

On the basis of manufacturing process, the global polyurethane composites market is segmented into lay-up, pultrusion, resin transfer molding, injection molding, filament winding, compression molding, and others.

On the basis of end-use industry, the global polyurethane composites market is segmented into transportation, building & construction, electrical & electronics, wind power energy, petrochemical, sports & leisure, aerospace & defense, and others. The transportation segment is sub segmented into interiors, and exteriors. The building & construction segment is sub segmented into indoor application, and outdoor application. The electrical & electronics segment is sub segmented into electronics components. The wind power energy segment is sub segmented into blades, and others. The petrochemical segment is sub segmented into pipes, and tanks. The sports & leisure segment is sub segmented into sports, and leisure. The aerospace & defense segment is sub segmented into commercial, and military. The others segment is sub segmented into marine and consumer durables.

On the basis of geography, the global polyurethane composites market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.

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Competitive Landscape: Global Polyurethane Composites Market

The global polyurethane composites market is consolidated due to the presence of limited number of players concentrated in few countries. These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.

Major Market Competitors: Global Polyurethane Composites Market

Some of the major players in global polyurethane composites market include BASF SE, Bayer AG, Huntsman International LLC, The Dow Chemical Company, TORAY INDUSTRIES, INC., Hexcel Corporation, SEKISUI CHEMICAL CO., LTD., SGL Group, Owens Corning, Wanhua Chemical Group, and others.

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