According to a new market report published by Lucintel, the future of the global advanced composites market looks promising with opportunities in various end use industries such as aerospace & defense, wind energy, transportation, marine, construction, electrical/electronics, consumer goods, and pressure vessels. The global advanced composites material market is expected to reach an estimated $5.2 billion by 2022 and it is forecast to grow at a CAGR of 8.0% from 2017 to 2022. The global advanced composites end product market is expected to reach an estimated $17.1 billion by 2022. The major drivers of growth for this market are increasing demand of lightweight materials in the aerospace & defense and automotive industry.
Browse 140 market data tables and 198 figures spread through 249 pages and in-depth TOC on “Global Advanced Composites Market"
In this market, carbon fiber, S-glass fiber, and aramid fiber are the major fiber used to manufacture advanced composites parts for various end use industries such as aerospace & defense, transportation, wind energy and consumer goods. On the basis of our comprehensive research, Lucintel forecasts that the transportation is expected to show above average growth during the forecast period. Growing demand for lightweight materials in the automotive industry is expected to spur growth for this segment over the forecast period.
Within the global advanced composites market, aerospace & defense application is expected to be to remain the largest market by volume and value consumption. The major driver for this segment is 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.
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By resin type, epoxy, phenolic, and vinyl ester are the major resin used to manufacture advanced composite parts. Epoxy resin composites are expected to be the largest market by value and volume.
North America is expected to remain the largest market by value and volume and is also expected to experience the highest growth over the forecast period because of growth in end-use industries and the increasing demand for lightweight materials in the aerospace and automotive industries.
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Emerging trends, which have a direct impact on the dynamics of the industry, include increased demand for carbon fiber which has high tensile strength, modulus, and compatibility with different resins. Toray, Teijin, Mitsubishi Rayon, Hexcel, Dupont, Hexion, Huntsman, and Olin Epoxy are the major advanced composite manufacturers in the global advanced composites market.
The study includes a forecast for the global advanced composites market by end use industries, fiber type, resin type, and region, as follows:
Advanced composites market by end use industries ($ Million and Million Pounds from 2011 to 2022)
- Aerospace & Defense
- Wind Energy
- Automotive
- Marine
- Construction
- E&E
- Consumer Goods
- Pressure Vessels
- Others
Advanced composites market by Fiber Type ($ Million and Million Pounds from 2011 to 2022)
- Carbon Composites
- S-Glass Composites
- Aramid Composites
Advanced composites market by Resin Type ($ Million and Million Pounds from 2011 to 2022)
- Epoxy Composites
- Phenolic Composites
- Vinyl ester Composites
- Thermoplastic Composites
- Other Composites
Advanced composites market by Region ($ million and Million Pounds from 2011 to 2022)
- North America
- Europe
- Asia Pacific
- Rest of the World
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This 249-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 http://www.lucintel.com/advanced_composites_market_2017.aspx or helpdesk@lucintel.com.
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