Market Research Report
Opportunities in the Advanced Composites Market: Growth Trends, Forecast and Competitive Analysis
|Opportunities in the Advanced Composites Market: Growth Trends, Forecast and Competitive Analysis|
Published: September 1, 2021
Content info: 169 Pages
Delivery time: 1-2 business days
The future of the advance composites market looks promising with opportunities in aerospace and defense, wind energy, transportation, marine, construction, consumer goods, and pressure vessels applications. The global advance composites market declined in 2020 due to the global economic recession led by COVID-19. However, the market will witness recovery in the year 2021, and it is expected to reach an estimated $9.5 billion by 2026 with a CAGR of 5.4% from 2021 to 2026. The major drivers of growth for this market are increasing demand of lightweight materials in the aerospace & defense and automotive industry.
Emerging trend, which has 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.
A total of 93 figures / charts and 79 tables are provided in this 169-page report to help in your business decisions.
By Application [Volume (M lbs) and $M shipment analysis from 2015 to 2026]:
By Fiber Type [Volume (M lbs) and $M shipment analysis from 2015 to 2026]:
By Resin Type [Volume (M lbs) and $M shipment analysis from 2015 to 2026]:
By Region [Volume (M lbs) and $M shipment analysis from 2015 to 2026]:
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.
Europe is expected to remain the largest market by value over the forecast period due to the growth in end-use industries and steady adoption of advanced composites in wind energy for wind blades. Europe is expected to witness the highest growth over the forecast period.
Some of the global advance composites manufacturers profiled in this report include are Toray Industries., Cytec Solvay, Owens Corning, AGY, and DuPont.