Advanced Composites Market

Global Advanced Composites Market is valued at ~USD 34.06 Billion in 2021 and is expected to reach ~USD 79.43 Billion by 2028 with a CAGRof 12.9 % over the forecast period.

Scope of The Report

The composite materials that are created are stronger, lighter, and cost-effective. Advanced composites, also dubbed as polymer matrix composites, are a mixture of polymeric resins, which are added in a resin matrix. These kinds of composites show excellent mechanical resistance, extraordinary strength, and high stiffness and modulus of elasticity. In addition, due to an excellent dimensional ability and thermal conductivity, paired with electrical and lightweight properties, the advanced composites find different applications in aerospace & defense, automotive, and consumer electronics industry. Further, the strength-to-weight ratio of the advanced composites is more than that of conventional materials, which favors the development in its requirement for manufacturing the wind-turbine, aircraft engines, and marine applications.

The global advanced composites market is divided by resin type, fiber type, region, and application. By resin type, the global market is segmented into advanced thermoplastic resin and advanced thermosetting resin. The advanced thermosetting resin section is further sub-divided into acrylic, vinyl ester, epoxy, polyurethane, phenolic, and others. The advanced thermoplastic resin is further divided into polyetheretherketone (PEEK), polyetherimide (PEI), polyphenylene sulfide (PPS), and others. By fiber type, the global market is divided into s-glass composites, aramid fiber composites, carbon fiber composites, and others. By application, the global market is divided into wind energy, aerospace & defense, sports equipment, automotive, construction, consumer goods, medical, and others. The advanced composites market had been divided with respect to five key regions—Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.

Advanced Composites Companies

The major players included in the global advanced composites market forecast are,

• Axalta Coating Systems
• 3M
• DowAksa Advanced Composites Holdings BV
• PPG Industries
• Koninklijke Ten Cate B.V.
• TEIJIN LIMITED
• Hexcel Corporation
• Toray Industries Inc.
• Cytec Solvay Group
• SGL Carbon
• Mitsubishi Chemical Holding Corporation
• Huntsman International

Advanced Composites Segments

By Fiber Type

• Carbon Fiber Composites
• Aramid Fiber Composites
• S-Glass Fiber Composites
• Other Fiber Composites

By Resin Type

• Advanced Thermosetting Composites
• Advanced Thermoplastic Composites

By Manufacturing Process Type

• Hand layup/ Spray Layup
• AFP/ATL
• Filament Winding
• Injection Molding
• Pultrusion
• Compression Molding
• RTM/VARTM
• Others

By End-use Industry

• Transportation
• Aerospace & Defense
• Wind Energy
• Sporting Goods
• Electrical & Electronics
• Civil Engineering
• Pipes & Tanks
• Medical
• Marine
• Others

Increasing Demand For The Product From Rapidly Growing Aerospace & Defense And Automotive Industries To Power Growth In The Market

The major factors powering the development of the global advanced composites market are the increasing the use of stiff yet lightweight materials in sports, consumer electronics, and vehicles and increasing demand for the product from rapidly growing aerospace & defense and automotive industries. As per the estimates of Brandessence, the global aerospace & defense market is predicted to develop at a solid speed due to the increasing number of air passengers across the globe and rising requirement for both fighter and commercial jets. This is predicted to power the requirement for advanced composites during the coming period.

Regional Analysis Market

North America

• U.S.
• Canada

Europe

• Germany
• France
• U.K.
• Italy
• Spain
• Sweden
• Netherland
• Turkey
• Switzerland
• Belgium
• Rest of Europe

Asia-Pacific

• South Korea
• Japan
• China
• India
• Australia
• Philippines
• Singapore
• Malaysia
• Thailand
• Indonesia
• Rest Of APAC

Latin America

• Mexico
• Colombia
• Brazil
• Argentina
• Peru
• Rest of South America

Middle East and Africa

• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest Of ME