Global Advanced Composites Market Size By Product (Aramid Fiber, Carbon Fiber, Glass Fiber), By Resin Type (Advanced Thermosetting Composites, Advanced Thermoplastic Composites), By Application (Aerospace & Defense, Automotive, Wind Energy, Sporting Goods),By Geographic Scope and Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationGlobal Advanced Composites Market Size By Product (Aramid Fiber, Carbon Fiber, Glass Fiber), By Resin Type (Advanced Thermosetting Composites, Advanced Thermoplastic Composites), By Application (Aerospace & Defense, Automotive, Wind Energy, Sporting Goods),By Geographic Scope and Forecast
Advanced Composites Market Size and Forecast
Advanced Composites Market size was valued at USD 45.52 Billion in 2024 and is projected to reach 99.51 USD Billion by 2031 growing at a CAGR of 10.36% from 2024 to 2031.
- Advanced composites are high-performance materials constructed from a mix of fibers (such as carbon or glass) and a matrix (such as epoxy resin), which provide higher strength, lightweight qualities and resilience to environmental variables. They are employed in the aerospace, automobile and sports industries.
- Advanced composites are employed in the aerospace, automotive, construction, and sports industries due to their lightweight, high-strength and corrosion-resistant qualities, which improve performance and efficiency in applications such as aircraft structures, vehicle parts, buildings and sporting goods.
- Advanced composites’ future applications include aerospace, automotive, construction and renewable energy sectors, where their lightweight, high strength and durability features contribute to enhanced fuel efficiency, performance and sustainability.
Global Advanced Composites Market Dynamics
The key market dynamics that are shaping the global advanced composites market include
Key Market Drivers
- Lightweight and Strong Properties Advanced composites are popular in the aerospace, automotive, and construction industries due to their ability to reduce weight while preserving strength.
- Increasing Demand in Aerospace and Defense Advanced composites are in high demand in the aerospace and defense industries due to their durability, corrosion resistance and performance under harsh environments.
- Automotive Industry Adoption The automotive industry’s desire for fuel efficiency and decreasing emissions promotes the use of advanced composites in the production of lighter, more efficient automobiles.
- Sustainable and Renewable Material Innovations Advances in eco-friendly and renewable composite materials are driving market expansion as companies seek long-term alternatives to traditional materials.
Key Challenges
- Complex Manufacturing Processes Making advanced composites can be difficult and necessitates specialized equipment and skills. This can limit the number of companies that can produce these materials and make it difficult to increase production to satisfy demand. Furthermore, the expertise of the manufacturing personnel can have a significant impact on the quality of the finished product.
- Limited Recyclability Many modern composites are difficult or impossible to recycle using conventional procedures. This can raise environmental issues and increase the expense of using certain materials. Landfilling these items is not desirable, and incineration might produce dangerous pollutants. Research is ongoing to create novel recycling processes for advanced composites, but this remains an issue that must be solved.
- Lack of Awareness Some potential consumers of advanced composites may be unaware of the materials’ merits or how to employ them in their applications. This may hinder the adoption of sophisticated composites in new markets. More education and outreach are required to promote awareness of the benefits of advanced composites.
Key Trends
- Higher Demand for Lightweight Materials The aerospace and defense, as well as automotive industries, are experiencing a surge in demand for lightweight materials. Advanced composites have higher strength-to-weight ratios than standard materials such as steel.
- Focus on Sustainability The Advanced Composites market is responding to the increased concern about sustainability by developing bio-based and recyclable composites. This involves the use of natural fibers such as flax and hemp, as well as the development of biodegradable polymers.
- Diversification of Applications Advanced composites are being used in fields other than aerospace and military. This includes sports equipment (such as high-performance bicycles and tennis rackets), wind turbine blades for renewable energy, and even construction materials for infrastructure projects. Composites are valuable due of their unique features along various sectors.
What's inside a
industry report?
Our reports include actionable data and forward-looking analysis that help you craft pitches, create business plans, build presentations and write proposals.
Global Advanced Composites Market Regional Analysis
Here is a more detailed regional analysis of the global advanced composites market
North America
- According to Market Research, North America is expected to dominate the global advanced composites market.
- North America is predicted to dominate the worldwide advanced composites market due to its robust aerospace and military sectors, large investments in R&DÂ and the presence of prominent industry participants.
- The region’s advanced manufacturing infrastructure, combined with increasing demand for lightweight, high-strength materials in automotive and wind energy applications, drives market expansion.
- Government measures promoting the use of advanced composites in a variety of industries help to maintain North America’s market leadership.
Asia Pacific
- According to Market Research, Asia Pacific is fastest growing region in global advanced composites market.
- Asia-Pacific is the fastest expanding region in the worldwide advanced composites market, owing to rapid industrialization, urbanization, and increasing demand from the automotive, aerospace, and construction industries.
- Countries such as China, Japan and India are spending considerably in infrastructure and innovative manufacturing technology.
- Furthermore, the increasing emphasis on lightweight and fuel-efficient materials in the automotive and aerospace industries increases demand for advanced composites. Government initiatives and favorable policies promoting sustainable and high-performance materials also help to drive the Asia-Pacific advanced composites market forward.
Global Advanced Composites MarketSegmentation Analysis
The Global Advanced Composites Market is segmented based on Product, Resin Type, Application, and Geography.
Global Advanced Composites Market, By Product
- Aramid Fiber
- Carbon Fiber
- Glass Fiber
Based on Product, the Global Advanced Composites Market is separated into Aramid Fiber, Carbon Fiber, Glass Fiber. Carbon fiber leads the global advanced composites market due to its high strength-to-weight ratio, stiffness and resilience to corrosion and fatigue. These attributes make it extremely attractive in industries such as aerospace, automotive and sports equipment, where lightweight materials with high performance characteristics are critical for efficiency and safety.
Global Advanced Composites Market, By Resin Type
- Advanced Thermosetting Composites
- Advanced Thermoplastic Composites
Based on Resin Type, the Global Advanced Composites Market is separated into Advanced Thermosetting Composites and Advanced Thermoplastic Composites. The worldwide advanced composites market is currently dominated by advanced thermosetting composites. These composites have excellent mechanical qualities, heat resistance and chemical resistance, making them perfect for aerospace, automotive and construction applications that require durability and strength. While advanced thermoplastic composites continue to evolve, they face processing complexity and cost challenges.
Global Advanced Composites Market, By Application
- Aerospace & Defense
- Automotive
- Wind Energy
- Sporting Goods
Based on Application, Global Advanced Composites Market is divided into Aerospace & Defense, Automotive, Wind Energy, Sporting Goods. Aerospace and defense applications dominate the global advanced composites market because they require lightweight, high-strength materials. These industries heavily use advanced composites to improve the fuel efficiency, performance, and durability of aviation and military systems, resulting in higher demand and technological developments.
Global Advanced Composites Market, By Geography
- North America
- Europe
- Asia Pacific
- Rest of the World
Based on the Geography, the Global Advanced Composites Market divided into North America, Europe, Asia Pacific and Rest of the World. North America dominates the worldwide advanced composites market, owing to its powerful aerospace and defense sectors. Asia Pacific is the fastest-growing area, propelled by rapid industrialization, urbanization and rising demand in the automotive, aerospace and construction industries.
Key Players
The global advanced composites market study report will provide valuable insight with an emphasis on the global market. The major players in the market are Toray Industries, Inc., Koninklijke Ten Cate NV, Teijin Limited, Hexcel Corporation, SGL Group, Cytec Solvay Group, Owens Corning, E. I. Dupont De Nemours and Company, Huntsman Corporation, Momentive Performance Materials, Inc., WS Atkins plc, AGY Holdings Corp., Formosa Plastics Corporation, Plasan Carbon Composites, Strata Manufacturing.
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.
Global Advanced Composites Market Recent Developments
- In June 2022, Hexcel Corporation announced a long-term contract with Sikorsky, a Lockheed Martin company, to produce revolutionary composite structures for the CH-53K King Stallion heavy lift helicopter program.
- In March 2022, Hexcel Corporation announced the expansion of its engineered core production facility in Morocco. To meet the increasing demand for lightweight innovative composites among aerospace clients.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| STUDY PERIOD | 2021-2031 |
| BASE YEAR | 2024 |
| FORECAST PERIOD | 2024-2030 |
| HISTORICAL PERIOD | 2021-2023 |
| UNIT | Value (USD Billion) |
| KEY COMPANIES PROFILED | Toray Industries, Inc., Koninklijke Ten Cate NV, Teijin Limited, Hexcel Corporation, SGL Group, Cytec Solvay Group, Owens Corning, E. I. Dupont De Nemours and Company, Huntsman Corporation, Momentive Performance Materials, Inc., WS Atkins plc, AGY Holdings Corp., Formosa Plastics Corporation, Plasan Carbon Composites, Strata Manufacturing. |
| SEGMENTS COVERED | By Product, By Resin Type, By Application and By Geography. |
| CUSTOMIZATION SCOPE | Free report customization (equivalent to up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope. |
Research Methodology of Market Research
To know more about the Research Methodology and other aspects of the research study, kindly get in touch with our .
Reasons to Purchase this Report
Understand the Market Inside Out We'll break down the market into different groups based on things like income and lifestyle. We'll tell you how much money each group spends on the product or service. Who's the Big Winner? We'll show you which region and group are set to grow the fastest and dominate the market. Regional Trends We'll dig into how each region consumes the product or service and the factors influencing it. Meet the Biggest Players We'll introduce you to the top companies in the market, their rankings, and any big moves they've made in the last five years, like launching new products, partnerships, or expansions. Company Close-Ups For each major player, we'll give you the lowdown on their business, key insights, how their products stack up, and a SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis. Future Forecast We'll take a peek into the future of the market, identifying growth drivers and challenges for both new and established regions. Industry Dynamics We'll analyze the market using Porter's five forces and the Value Chain, giving you a multi-dimensional view. Upcoming Opportunities We'll reveal the potential for growth in the coming years. Peace of Mind And if you have any questions after purchasing the report, our analysts will be there to help for six months after the sale.
Customization of the Report
• In case of any please connect with our sales team, who will ensure that your requirements are met.
Related Reports
- Global Unified Monitoring Market Size By Component, By Deployment Mode, By Organization Size, By Geographic Scope And Fo...
- Global Efficacy Testing Market Size By Type, By Product & Service, By Application, By Geographic Scope And Forecast
- Anesthesia And Respiratory Devices Market By Product Type (Anesthesia Devices, Respiratory Devices), By End-User (Hospit...
- Global Animal Feed Ingredients Market Size By Product (Corn, Soybean Meal, Wheat, Fishmeal), By Application (Chickens, P...
- Global Spunbond Nonwovens Market Size By Function (Disposable, Durable), By Material Type (Polypropylene, Polyethylene, ...
- Global Angiography Equipment Market Size By Technology, By Procedure, By Application, By Geographic Scope And Forecast
Table of Content
To get a detailed Table of content/ Table of Figures/ Methodology Please contact our sales person at ( chris@marketinsightsresearch.com )
List Tables Figures
To get a detailed Table of content/ Table of Figures/ Methodology Please contact our sales person at ( chris@marketinsightsresearch.com )
FAQ'S
For a single, multi and corporate client license, the report will be available in PDF format. Sample report would be given you in excel format. For more questions please contact:
Within 24 to 48 hrs.
You can contact Sales team (sales@marketinsightsresearch.com) and they will direct you on email
You can order a report by selecting payment methods, which is bank wire or online payment through any Debit/Credit card, Razor pay or PayPal.
Discounts are available.
Hard Copy