According to the research report titled ‘Impact of COVID-19 on Composites Market Size study, by Fiber Type (Glass Fiber, Carbon Fiber, Natural Fiber, and Others), Resin Type (Thermoset, and Thermoplastic), by End-Use Industry (Aerospace & Defense, Wind Energy, Transportation, Construction & Infrastructure, Marine, Pipes & Tanks, Electricals & Electronics, and Others) and Regional Forecasts 2020-2026’ available with Market Study Report, despite impact of COVID-19 on composites market, returns are  anticipated to multiply during 2020-2026.
 

The study on ‘impact of COVID-19 on composites market’ states that escalating demand for composites from several industries including  aerospace & defense, and wind energy coupled with rising adoption of composites in the automotive & transportation sector due to the weight lowering attribute of the product are augmenting the overall market growth.
 

Increasing focus among companies operating in automobile and rail verticals towards harnessing advanced materials, enhancing vehicle performance, and reducing overall weight is further aiding the industry expansion. Additionally, growing environmental concerns along with rising efforts towards incorporating high-strength, lightweight materials for enhanced fuel efficiency are stimulating the overall market outlook, as cited by impact of COVID-19 on composites market research analysis.
 

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The sudden outbreak of the COVID-19 pandemic has plummeted the global economy, drastically declining the sales of aircraft manufacturing companies. Therefore, the restricted growth of aerospace and defense industry is expected to impede the expansion of the composite market through 2026.
 

Based on fiber type, the impact of COVID-19 on composites market report divides the business landscape into natural fiber, carbon fiber, glass fiber, and others. With regards to resin type, the market is split into thermoplastic and thermoset.
 

The end-user terrain of the overall industry comprises of electricals & electronics, pipes & tanks, marine, construction & infrastructure, transportation, wind energy, aerospace and & defense, and others.
 

As per the regional analysis of impact of COVID-19 on composites market research report, Asia-Pacific is predicted to emerge as a major growth avenue for the overall market over 2019-2026. Factors such as increasing product adoption in various end-user industries including housing and wind energy, technological advancements, favorable regulations and policy standards, and escalating consumer demand in India, Japan, and China are fostering the expansion of the regional market.  
 

Leading companies profiled in impact of COVID-19 on composites market study are GKN Ltd., Saertex GmbH & Co. KG, Continental Structural Plastics Inc., Menzolit GmbH, Strongwell Corporation, Core Molding Technologies Inc., Exel Composites Oyj, Polynt S.p.A., Koninklijke Ten Cate B.V., and A. Schulman Inc. among others.