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Advanced Composites Market worth 24.9 Billion USD by 2020
The report “Advanced Composites Market by Type (Carbon, S-Glass, Aramid), by Manufacturing Process, by Resin Type (Thermoplastics and Thermosetting), by Application (Aerospace & Defense, Automotive, Wind, Sporting Goods, Pipe & Tanks, Construction, Marine), and by Region Global Forecast to 2020”, defines and segments the advanced composites market with an analysis and forecast of the volumes and values of types such as carbon composite, S-glass composite and aramid composite individually. Along with this, the volume & value of materials by applications such as automotive, aerospace & defense, wind, sporting goods, construction, pipe & tanks, marine and others are also discussed.
Browse 81 tables and 57 figures spread through 163 pages and in-depth TOC on "Advanced Composites Market by Type (Carbon, S-Glass, Aramid), by Manufacturing Process, by Resin Type (Thermoplastics and Thermosetting), by Application (Aerospace & Defense, Automotive, Wind, Sporting Goods, Pipe & Tanks, Construction, Marine), and by Region Global Forecast to 2020"
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The advanced composites end market in terms of value is expected to reach around USD 24.9 billion by 2020, growing at a CAGR of 7.2% between 2015 and 2020.
An advanced composite is a material designed for enhanced performance in a number of applications through improvement in structural, functional, or cosmetic properties. There are three main types of advanced composites, namely, carbon, S-glass, and aramid composite. The carbon fiber and S-glass fiber composites are used widely as compared with the aramid fiber composites. Carbon fiber, S-glass and Aramid fiber composites are now used widely for numerous applications such as Aerospace and defense, Wind, Automotive, etc. and there has been continuous increasing demand for advanced composites with required properties for many other applications. This report also identifies the driving and restraining factors for the advanced composites market with analyses of trends and opportunities. The market is segmented in terms of volume and value and forecasted on the basis of the key regions—North America, Europe, Asia-Pacific, and Rest of the World (RoW). Further, the market is segmented and the values are forecasted on the basis of the main applications of advanced composites used in various industries such as aerospace & defense, automotive, wind, sporting goods, pipe & tanks, marine, construction, and others.
Increase in demand from developed countries of North America and Europe
The leading carbon fiber composite manufacturers increased their capacity in North America and Europe in order to meet the growing demand from the aerospace & defense, automotive, pipe & tanks, wind, marine, and construction industries. Many leading companies recently increased their carbon fiber composite and S-glass composite production capacities in these regions. In North America and Europe, aerospace & defense, wind, and automotive are the major application industries of advanced composites. The use of S-glass composites, carbon fiber composites, and aramid fiber composites in composite ballistic armor applications has increased due to properties that include maximum energy absorption, fire resistance and light weight. In countries such as the U.S., Germany, Russia, and France, the growth of the aerospace industry is projected to increase in the next few years.
The demand from the automobile industry for advanced composites is increasing and hence driving the market. The growing automotive, wind, and aerospace & defense sectors in North America and Europe regions are projected to further fuel the growth.
Increasing demand from aerospace & defense and automotive industries
Advanced composites are used in the aerospace & defense and automotive industries, primarily in ballistic armor applications. High-performance carbon fiber has been used for many years; the new high-speed manufacturing technology is allowing carbon fiber composites to be used in production of vehicles. In order to make vehicles lighter, safer, cleaner, and more cost-effective, leading advanced composites industries are responding to the needs and expectations of the vehicle original equipment manufacturers (OEMs), system suppliers, and the consumers. Advanced composite leaders are helping automotive manufacturers to meet strict environmental standards such as Corporate Average Fuel Economy (CAFE) in the U.S., supporting responsible development and progress. Weight savings, fuel economy, and other performance benefits will fuel the growth of advanced composites consumption. Also the significant interest in carbon fiber composites applications in automotive market also help to drive the advanced composites market.
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