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Advanced Composites Market Report
Advanced Composites Market Size, Share, Trend, Forecast, & Industry Analysis
The Advanced Composites Market is Segmented by Fiber Type (Carbon Fiber, Aramid Fiber, S-Glass Fiber, and Others), by Resin Type (Thermosetting, Thermoplastic), by Manufacturing Process Type (Hand Layup/ Spray Layup, AFP/ATL, Filament Winding, Injection Molding, Pultrusion, Compression Molding, RTM/VARTM, and Others), by End-Use Industry Type ...
Advanced composites market is likely to witness an impressive CAGR of 10.6% during the forecast period. The prime factor that is contributing to the growth of the advanced composites market is mainly the surging demand for composites from the rapidly expanding aerospace & defense and automotive industries, along with increasing usage of lightweight materials in sports, consumer electronics, and vehicles. Properties such as, high strength and reduced weight offered by advanced composites are the major factors behind the increasing penetration of advanced composites in the aerospace & defense, marine, sporting goods, transportation, and wind energy industries.
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Advanced Composites Market - Snapshot |
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Growth |
10.6% for the next five years |
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Major Fiber Type |
Carbo Fiber |
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Dominant End-Use Industry Type |
Aerospace & Defense |
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Region with the highest demand |
North America |
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Key Players |
Toray Industries, Inc., Teijin Limited, Mitsubishi Chemical Holdings Corporation, SGL Group, Koninklijke Ten Cate BV., Huntsman International, LLC., Solvay S.A., Hexcel Corporation, Hexion Inc., and DuPont de Nemours, Inc. |
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Based on the fiber type, the market is segmented as carbon fiber, aramid fiber, s-glass fiber, and others. The carbon fiber segment held the largest share of the market in 2019, and is expected to register the fastest growth during the forecast period. The growth of the segment is mainly driven by its excellent benefits such as high tensile strength, high stiffness, low weight, high chemical resistance, high temperature tolerance and low thermal expansion.
Based on the end-use industry type, the advanced composites market is segmented as transportation, aerospace & defense, wind energy, sporting goods, electrical & electronics, civil engineering, pipes & tanks, medical, marine, and others. The aerospace & defense segment dominates the market, owing to the increasing demand for advanced composites for a wide array of aerospace applications such as air wings, rudders, and landing gears for developing lightweight and fuel-efficient aircraft.
In terms of regions, North America is estimated to be the largest market during the forecast period, with the USA, Canada, and Mexico being the major countries with lucrative growth opportunities. The growth of the region’s market is mainly driven by the growing consumption of advanced composites in various applications such as aerospace & defense, wind energy, and transportation. The growth of the USA’s advanced composites market is attributed to the establishment of a number of new carbon fiber production plants in the country and increased investments by various Europe-based companies dealing in the aerospace & defense, wind energy, and transportation industries.
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Advanced composites are the materials that are composed of more than two constituent elements owning different chemical or physical properties. Advanced composite is often known as polymer matrix. These composites show extraordinary properties such as high strength fibers with high stiffness, elasticity, temperature and chemical resistance, stability in dimension, etc. and are widely used for replacing the metal components in the aerospace industry.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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Advanced Composites Market Research Report - Features |
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Market Segmentation |
5 |
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Regions Covered |
4 |
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Countries/Sub-Regions Covered |
15 |
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No. of Figures & Tables |
>150 |
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Company Profiles |
10 |
The advanced composites market is segmented into the following categories.
Some of the major players in the advanced composites market are
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Market Segmentation
Competitive Benchmarking
Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.
Driven by the factors like increasing usage of lightweight materials in sports, consumer electronics, and vehicles, the advanced composites market is expected to witness an impressive growth of 10.6% CAGR in the coming years.
North America is expected to remain the largest market for advanced composites.
Toray Industries, Inc., Teijin Limited, Mitsubishi Chemical Holdings Corporation, SGL Group, Koninklijke Ten Cate BV., Huntsman International, LLC., Solvay S.A., Hexcel Corporation, Hexion Inc., and DuPont de Nemours, Inc. are among the key players in the advanced composites market.
Based on fiber type, carbon fiber segment is expected to register the fastest growth in the advanced composites market.
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