According to a new market report published by Lucintel, the future of the advance composite market looks promising with opportunities in the aerospace and defense, wind energy, transportation, marine, construction, consumer goods, and pressure vessels application. The global advance composite market is expected to reach an estimated $10.8 billion by 2027 with a CAGR of 5.2% from 2021 to 2027. The major drivers of growth for this market are increasing demand of lightweight materials in the aerospace & defense and automotive industry.
Browse 79 market data tables and 93 figures spread through 205 pages and in-depth TOC on “Global Advance Composite Market"
In this market, carbon composites, S-glass composites, and aramid composites are the major fiber used to manufacture advanced composites parts for various end use industries. Lucintel forecasts that carbon composites will remain the largest segment due to its beneficial qualities of being lightweight while offering corrosion resistance and high tensile strength. The S-glass composites segment is expected to witness highest growth over the forecast period.
Within the global advance composites market, aerospace and defense is expected to be to remain the largest application over the forecast period by value and volume due to the increase penetration of composites in next generation commercial aircraft, like Boeing’s B787 and Airbus 380, regional aircraft such as Bombardier’s C Series, and general aviation aircraft such as Cirrus and Diamond. The pressure vessels is expected to witness highest growth over the forecast period.
North America is expected to remain the largest region and witness the highest growth over the forecast period due to the growth in end-use industries and steady adoption of advanced composites in wind energy for wind blades.
Emerging trends, which have a direct impact on the dynamics of the industry, includes R&D projects across supply chain to bring carbon fiber from high end to high volume applications via low-cost carbon fiber, advancements in the production technologies of carbon composites, and recycling of advanced composites. Toray Industries, Cytec Solvay, Owens Corning, AGY, and DuPont are among the major advance composites manufacturers.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global advance composite market by application, fiber type, resin type, end product, and region. Lucintel has prepared a comprehensive research report entitled “Growth Opportunities in the Global Advance Composite Market 2022-2027: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global advance composite market by application, fiber type, resin type, end product, and region as follows:
By Application [Value ($B) and Volume (M lbs) shipment analysis for 2016 – 2027]:
•Aerospace and Defense
•Wind Energy
•Transportation
•Marine
•Construction
•Consumer Goods
•Pressure Vessels
•Others
By Fiber Type [Value ($B) and Volume (M lbs) shipment analysis for 2016 – 2027]:
•Carbon Composites
•S-Glass Composites
•Aramid Composites
By Resin Type [Value ($B) and Volume (M lbs) shipment analysis for 2016 – 2027]:
•Epoxy Composites
•Phenolic Composites
•Vinyl Ester Composites
•Other Thermoset
•Thermoplastic Composites
By Region [Value ($B) and Volume (M lbs) shipment analysis for 2016 – 2027]:
•North America
•Europe
•Asia Pacific
•Rest of the world
This 205-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/advanced-composites-market.aspx or write us at helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers following 11 key questions:
Q.1 What are some of the most promising potential, high growth opportunities for the global advance composite market by application (aerospace and defense, wind energy, automotive, marine, construction, consumer goods, pressure vessels, and others), fiber type (carbon composites, s-glass composites and aramid composites), resin type (epoxy composites, phenolic composites, vinyl ester composites, other thermoset, thermoplastic composites), by end product (aerospace and defense, wind energy, transportation, marine, construction, consumer goods, pressure vessels, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to the market?
Q.6 What are the emerging trends in this market and the reasons behind them?
Q.7 What are the changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11 What M & A activities have taken place in the last 5 years in this market?