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.
Market Trends:
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.
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:
Breakup by Type of Fiber:
Breakup by Manufacturing Process:
Breakup by Application:
Regional Insights:
Key highlights of the report:
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