The "Ballistic Composites - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Ballistic Composites Market to Reach $2.3 Billion by 2027
Amid the COVID-19 crisis, the global market for Ballistic Composites estimated at US$1.5 Billion in the year 2020, is projected to reach a revised size of US$2.3 Billion by 2027, growing at a CAGR of 5.9% over the analysis period 2020-2027.
Aramid Fibers, one of the segments analyzed in the report, is projected to record a 6.3% CAGR and reach US$1.4 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the UHMPE segment is readjusted to a revised 5.6% CAGR for the next 7-year period.
The U.S. Market is Estimated at $412.3 Million, While China is Forecast to Grow at 9.1% CAGR
The Ballistic Composites market in the U.S. is estimated at US$412.3 Million in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$485 Million by the year 2027 trailing a CAGR of 9.1% over the analysis period 2020 to 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.2% and 5.3% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.8% CAGR.
Glass Segment to Record 5.2% CAGR
In the global Glass segment, USA, Canada, Japan, China and Europe will drive the 4.8% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$170.6 Million in the year 2020 will reach a projected size of US$236.6 Million by the close of the analysis period.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$307.3 Million by the year 2027, while Latin America will expand at a 6.4% CAGR through the analysis period.
Select Competitors (Total 38 Featured):
BAE Systems PLC
Gaffco Ballistics Inc.
Gurit Holding AG
Honeywell International, Inc.
Koninklijke DSM NV
M Cubed Technologies, Inc.
Morgan Advanced Materials PLC
PRF Composite Materials Ltd.
Royal Ten Cate NV
Southern States LLC.
For more information about this report visit https://www.researchandmarkets.com/r/rr9pbk.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210531005252/en/
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