According to the latest report by IMARC Group, titled “Advanced Composites Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on advanced composites market share. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global advanced composites market is expected to exhibit a CAGR of 10.4% during 2022-2027.
Advanced composites or advanced polymer matrix composites are lightweight materials with high strength and modulus to elasticity. These composites are manufactured using fibrous material embedded in different resin matrices. It possesses extraordinary properties, such as high strength fibers with improved stiffness, elasticity, temperature and chemical resistance. These advanced composites are widely utilized in aerospace and defense, automotive, marine, and wind energy sectors.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
The global market is majorly driven by the increasing demand for the product in manufacturing high-performance supercar and aircraft parts, such as wings, elaborators, floor beams, engine nacelles, ailerons, rudders, and landing gear doors. It is widely used due to its excellent strength and reduced weight, which helps in improving operational efficiency, thus positively influencing the market growth. Besides this, the rising demand for advanced composites in manufacturing turbines is catalyzing the product demand. Moreover, the widespread utilization of carbon and glass advanced composites is further propelling the market.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
- Arkema S.A.
- BASF SE
- Hexcel Corporation
- Cytec Industries Inc.
- Koninklijke Ten Cate N.V.
- TPI Composites Inc.
- Toray Industries Inc..
- Mitsubishi Rayon Co. Ltd
- Teijin Limited.
- SGL Carbon SE
Advanced Composites Market Segmentation:
Our report has categorized the market based on region, resin type, type of fiber, manufacturing process and application.
Breakup by Resin Type:
- Advanced Thermosetting Composites
- Advanced Thermoplastic Composites
Breakup by Type of Fiber:
Breakup by Manufacturing Process:
- Hand Layup/Spray Layup
- AFP and ATL
- Filament Winding
- Injection Molding
- Compression Molding
Breakup by Application:
- Aerospace and Aviation
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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