Global Advanced Composite Materials Market (2018 – 2023) research report is expected to register a CAGR of XX% over a five years forecast period. Additionally, Advanced Composite Materials market report also examines the market by discussing market dynamics such as opportunities, threats, challenges, drivers, restrictions, and other trends of market. The growing adoption of multi-factor techniques is expected to aid the growth to Advanced Composite Materials market, during the forecast period.
List of Key players operating in the Global Advanced Composite Materials Market are –
- 3B-the fibreglass company
- Cytec Solvay Group
- Hexcel Corporation
- Hyosung Corporation
- Kolon Industries Inc.
- Koninklijke Ten Cate BV
- Mitsubishi Chemical Carbon Fiber and Composites
- Owens Corning
- SGL Group
- TEIJIN LIMITED
- TORAY INDUSTRIES
- Yantai Tayho Advanced Materials Co.
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The advanced composite materials market is expected to register a moderate growth during the forecast period, 2018 to 2023. Europe is dominating the market, accounting for around 30% of the global market in 2017.
Increasing Demand for Lightweight Materials in the Aerospace & Defense Industry
Advanced composite materials are used in various aerospace and defense applications, owing to their properties, such as high strength, stiffness, heat & chemical resistivity, electrical conductivity, and various other thermal and chemical properties, etc. They are widely used in ballistic protective applications, such as, bullet proof vests, protective apparel, such as gloves, motorcycle protective clothing, and hunting gaiters. Due to their light yet stiff design structures, they are used in the interior of an airplane or a jet, the rotor blades of a helicopter, aircraft seats, and aircraft brakes. Many countries are focusing in growing a domestic defense industry while manufacturing hardware locally. These factors are expected to drive the demand for advanced composite materials, during the forecast period.
Increasing Demand from Automotive Industry
Advanced composite materials have experienced a widespread use in the automotive industry owing to their ever-higher strength-to-weight ratios, corrosion resistivity, and workability features. They are replacing metal in various automotive applications due to their light-weight but tough features, which contributes to lesser fuel consumption. Automotive manufacturers, such as BMW, Mercedes-Benz, McLaren, Chevrolet, and Lamborghini, amongst several others have committed themselves to increase the usage of advanced composite materials in their vehicles as they contribute to the reduction in weight. Therefore, the growing usage is boosting the demand for advanced composite materials during the forecast period.
Europe to Dominate the Market
Europe holds the largest demand for advanced composite materials, accounting to a little over 30% of the global market in the year 2017. The German aerospace industry is growing at higher rate than it has ever increased. Additionally, France has huge aerospace and defense industry, with major players like Airbus and Dassault aviation in the domestic market. Majority of this is driven by Airbus, with more than 1,000 billion order book and 10 years of production in line. Furthermore, the country’s automotive production is also growing at an impressive 6.54% annually and fueling the demand for advanced composite materials in recent times.
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Key Answers Catch in Analysis are:
– Which geographical region would have more demand for Advanced Composite Materials product/services?
– What are the business strategies accepted by leading players in the Advanced Composite Materials region-wise market?
– Which country would see the precipitous rise in CAGR & annual Advanced Composite Materials growth?
– What is the ongoing & estimated Advanced Composite Materials market size in the upcoming years?
– What is the Advanced Composite Materials market possibility for long-term investment?
– What type of opportunity would the country provide for current and Advanced Composite Materials market new players?
– What are the risk and challenges involved in Advanced Composite Materials suppliers?
– What are the factors which would propel the demand for the Advanced Composite Materials product in coming years?
– What is the impact study of numerous factors in the growth of the Global Advanced Composite Materials market?
– What are the latest trends in the regional Advanced Composite Materials market and how prosperous they are?
Reasons to Purchase Advanced Composite Materials Market Report:
- The report analyses how stringent emission control norms will drive the global Advanced Composite Materials market.
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
- Study on the product type that is expected to dominate the market.
- Study on the regions that are expected to witness the fastest growth during the forecast period.
- Identify the latest developments, market shares and strategies employed by the major Advanced Composite Materials market players.
- 3 months’ analyst support along with the Market Estimate sheet (in excel).
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Advanced Composite Materials Market Report TOC Includes:
- Overview of Advanced Composite Materials market, scope of report and include research phases
- Advanced Composite Materials market insight based on industry analysis and forecast analysis
- Covers market drivers, restraints and opportunity faced by market
- Market segmentation and analysis by product types and applications
- Regional market analysis based on market size, growth rate and forecast year
- Competitive analysis based on mergers and joint ventures
- Share recent development and strategies of current Advanced Composite Materials market
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