The global advanced composites market size is projected to reach USD 43.10 billion by 2027, and growing at a CAGR of 8.9% over the forecast period 2020 to 2027.
Extensive usage of aramid the production of optical fibers, friction materials, in rubber reinforcements and safety clothing is expected to have a positive impact on the industry over the next eight years.
Carbon fibers are expected to gain share owing to the decline in prices over the last two years and on account of properties exhibited by the materials including lower weight and high strength which is likely to boost the demand over the forecast period. In addition, high price volatility on account of varying raw material prices is expected to restrain the market growth.
The industry is heavily regulated, primarily on account of critical nature of the application. Producers are adopting various regulations and certifications such as U.S. Clean Air Act, Safety Glass Directives of EU, and The American Society of Testing Materials. Presence of intensive regulatory framework increases the setup cost which leads to a limited market growth.
The industry is affected by usage of energy intensive production processes. However, technological advancements in the manufacturing process including the usage of fluid handling mechanism is expected to result in a decline in the overall price which is further expected to drive the industry growth.
The development of new fighter jets and other related products is expected to augment growth of the global defense sector. The application of aramid composites is replacing asbestos on account of the high-performance efficiency which is expected to moderately impact the market in the initial phase of the forecast period.
Aramid fiber composites exhibit superior properties such as high strength, high heat and impact resistance on account of which they are being increasingly utilized in the automotive sector. Growing use of the product in manufacturing of tires, body armors and components of defense vehicles is expected to drive the market demand over the forecast period.
Composites account for around 50% of the total material required for manufacturing an airplane, out which carbon fiber products account for over 90% of the total materials utilized. The demand for commercial jets is expected to rise on account of the growing air passenger traffic, prompting the commercial airline companies to increase their fleet size which is further expected to drive growth.
Advanced glass composites segment was valued at USD 6,433.4 million in 2016.The demand for advanced glass composites is expected to gain share owing to the enhanced characteristics of the material including dimensional stability, moisture resistance, high strength, fire resistance, chemical resistance, electrical resistance and thermal conductivity.
Growing use of glass composites in automotive industry for the production of components such as instrument panel, fender, bumper, roof, door module and headlamp is expected to have a positive impact on the industry. Demand for s-glass products in the manufacturing of wind turbines is likely to witness increase on account of the increasing adoption of wind energy across the globe.
Carbon composites used in sporting goods accounted for 13.1% of market volume share in 2016, on account of the need for lightweight material in the industry. The use of the product in the production of golf clubs, rackets and table tennis bats is expected to drive the demand for the advanced composites in the industry.
The application of aramid composites is growing significantly in the aerospace & defense industry. The increasing utilization of the product in aerospace industry owing to the diversified characteristics of the product is expected to drive the demand over the forecast period. The impact and heat resistance characteristics of the product are expected to augment the demand for the aramid fibers in safety & protective clothing.
The industry in North America is expected to account for the largest share owing to the presence of large number of manufacturers including Hexcel Corporation and consumer companies including Boeing, General Motors, and Lockheed Martin. The growing wind energy farms coupled with the need for renewable energy source is expected to drive the industry growth.
The demand Europe is expected to rise owing to the growing application in the automotive, wind turbine manufacturing and aerospace & defense industry. Rapid growth of the wind energy production industry in Germany and Spain is expected to drive the demand for composites over the forecast period with the industry expected to register a CAGR of 4.3% over the forecast period.
Advanced Composites Market Share Insights
Key market players are expected to retain high market shares by engaging into proficiency in production of advanced products. Major market players focus on delivering customized solutions to the clients through production of industry specific products which leads to a high switching cost for the consumer companies.
The key companies are expected to target their products for use in aerospace & defense sector as the sector is growing significantly in every region. In addition, companies are expected to expand to the international markets in the wake of growth of the application industries coupled with increasing penetration of composites.
Advanced Composites Product Outlook
Advanced Composites Application Outlook
Aerospace & Defense
Aerospace & Defense
Pipes & tanks
Aerospace & Defense
Pipes & Tanks
Central & South America
Middle East & Africa
The Advanced Composites market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Advanced Composites market for the base year 2019 and the forecast between 2020 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Advanced Composites market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Advanced Composites market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Advanced Composites market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Advanced Composites capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Advanced Composites by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Advanced Composites market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Advanced Composites market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Advanced Composites market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Advanced Composites industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Advanced Composites market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Advanced Composites market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Advanced Composites market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Advanced Composites market. These factors have benefited the growth of the global market for Advanced Composites. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Advanced Composites. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Microcontroller are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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