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 industry report. 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 (AC) are high-performance substances that possess superior mechanical resistance, strength and stiffness. These high-strength fibers are produced using fibrous materials that are embedded in different resin matrices. Additionally, they are lightweight and exhibit excellent thermal and electrical conductivity and dimensional stability. They are widely utilized in various applications, including automobile, aerospace, construction, sports, and military. Besides this, they are also used in high-performance supercar and aircraft parts, such as engine nacelles, wings, elaborators, floor beams, ailerons, rudders, and landing gear doors.
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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.
Significant growth in the aerospace industry is driving the global market. Coupled with the growing demand for lightweight aircraft for enhancing fuel efficiency is providing a boost to the demand for advanced composites. This can be attributed to numerous initiatives undertaken by the governments of several countries for reducing carbon emissions. Along with this, the increasing investments in the installations of wind turbines are impacting the market growth favorably. Furthermore, the escalating demand for good quality sports equipment due to the rising number of sports enthusiasts is creating a positive market outlook. Other factors, including rapid industrialization, continual technological advancements, and the growing investments by leading players in extensive research and development (R&D) activities, are also positively influencing 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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