HOME Top Market Reports Aerospace Composites Market by Fiber Type (Carbon, Glass, Ceramic), Resin Type (Epoxy, Phenolic, Polyester, Polyimides, Thermoplastics, Ceramic and Metal Matrix), Aircraft Type, Manufacturing Process, Application, Region - Global Forecast to 2022

Aerospace Composites Market by Fiber Type (Carbon, Glass, Ceramic), Resin Type (Epoxy, Phenolic, Polyester, Polyimides, Thermoplastics, Ceramic and Metal Matrix), Aircraft Type, Manufacturing Process, Application, Region - Global Forecast to 2022

By: marketsandmarkets.com
Publishing Date: November 2017
Report Code: CH 2968

 

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The aerospace composites market is projected to grow from USD 24.49 Billion in 2016 to USD 42.97 Billion by 2022, at a CAGR of 9.85% between 2017 and 2022. The use of aerospace composites is becoming crucial owing to the high strength and reduced weight offered by aerospace composites in aircraft. Manufacturers of aerospace composites are undertaking supply agreements with various industries to secure their positions in the aerospace composites market.

In this study, the years considered to estimate the market size of the aerospace composites market have been mentioned below:

  • Base Year – 2016
  • Estimated Year – 2017
  • Projected Year – 2022
  • Forecast Period – 2017 to 2022

2016 has been considered the base year to profile various companies in this report. For companies wherein information was unavailable for the base year, the year prior to it has been considered.

Objectives of the Study

  • To analyze and forecast the size of the aerospace composites market, in terms of volume (kilotons) and value (USD million)
  • To provide detailed information about the key factors such as drivers, restraints, opportunities, and challenges influencing the growth of the aerospace composites market
  • To define, describe, and forecast the aerospace composites market on the basis of fiber type, resin type, aircraft type, manufacturing process, application, and region
  • To analyze and forecast the aerospace composites market for five major regions, namely, North America, Europe, Asia Pacific, the Middle East & Africa (MEA), Latin America, and the key countries in each region
  • To strategically analyze the aerospace composites market with respect to individual growth trends, prospects, and contribution of various submarkets to the overall market
  • To strategically profile the key players operating in the aerospace composites market and analyze their core competencies
  • To analyze competitive developments, such as investments & expansions, new product launches, and agreements of the key players operating in the aerospace composites market
  • To analyze the opportunities and competitive landscape for stakeholders and market leaders in the aerospace composites market

Various secondary sources, such as such as Factiva, Hoovers, Manta, and others have been referred to understand and gain insights on the aerospace composites market. Experts from top composite companies have been interviewed to verify and collect critical information and to assess the trends in the aerospace composites market during the forecast period. The top-down, bottom-up, and data triangulation approaches have been implemented to calculate the exact values of the overall parent and individual market sizes.

Aerospace Composites Market

To know about the assumptions considered for the study, download the pdf brochure

The aerospace composites market has a diversified and established ecosystem of upstream players, such as raw material suppliers and downstream stakeholders, which include aerospace composites manufacturers, aerospace composites vendors, end users, and government organizations. Since 2000, most of the leading players in the aerospace composites market have adopted backward and forward integration to strengthen their positions in the market. Teijin Limited (Japan), Toray Industries (Japan), SGL Group (Germany), Solvay (Belgium), and Hexcel Corporation (US) are some of the leading players operating in the aerospace composites market.

Target Audience

  • Manufacturers of Aerospace Composites
  • Raw Material Suppliers
  • Distributors & Suppliers of Aerospace Composites
  • Industry Associations
  • Investment Research Firms

“This study answers several questions for the stakeholders, primarily which market segments they need to focus upon during the next two to five years, to prioritize their efforts and investments.”

Scope of the Report

The research report segments the aerospace composites market as follows:

Aerospace Composites Market, By Fiber Type:

  • Carbon Fiber Composites
  • Ceramic Fiber Composites
  • Glass Fiber Composites
  • Other Fiber Composites

Aerospace Composites Market, By Resin Type:

  • Epoxy
  • Phenolic
  • Polyester
  • Polyimides
  • Thermoplastics (PES, PEEK, PAI, PEI, etc.)
  • Ceramic and Metal Matrix
  • Others

Aerospace Composites Market, By Manufacturing Process:

  • AFP/ATL
  • Layup
  • RTM/VARTM
  • Filament Winding
  • Others

Aerospace Composites Market, By Aircraft Type:

  • Commercial Aircraft
  • Business Aviation
  • Civil Helicopters
  • Military Aircraft & helicopters
  • Others

Aerospace Composites Market, By Application:

  • Interior
  • Exterior

Aerospace Composites Market, By Region

  • North America
  • Asia Pacific
  • Europe
  • Middle East & Africa (MEA)
  • South America

Available Customizations

With the given market data, MarketsandMarkets offers customizations according to the specific needs of the companies. The following customization options are available for the report:

Product Analysis

  • Product matrix that gives a detailed comparison of product portfolio of each company

Regional Analysis

  • Further breakdown of the North America aerospace composites market
  • Further breakdown of the Europe aerospace composites market
  • Further breakdown of the Asia Pacific aerospace composites market
  • Further breakdown of the Middle East & Africa aerospace composites market
  • Further breakdown of the Latin America aerospace composites market

Company Information

  • Detailed analysis and profiles of additional market players

Table of Contents

1 Introduction (Page No. - 16)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Years Considered for the Study
    1.4 Currency
    1.5 Units Considered
    1.6 Limitations
    1.7 Stakeholders

2 Research Methodology (Page No. - 20)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Breakdown of Primary Interviews
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Data Triangulation
    2.4 Assumptions

3 Executive Summary (Page No. - 28)

4 Premium Insights (Page No. - 35)
    4.1 Significant Opportunities in Aerospace Composites Market
    4.2 Aerospace Composites Market, By Manufacturing Process
    4.3 Aerospace Composites Market, By Aircraft Type and Region
    4.4 Aerospace Composites Market, By Fiber Type
    4.5 Aerospace Composites Market, By Resin Type
    4.6 Aerospace Composites Market, By Application
    4.7 Aerospace Composites Market, By Country

5 Market Overview (Page No. - 40)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Increasing Use of Aerospace Composites in Commercial Aircraft
                    5.2.1.2 Replacement of Old Aircraft and Increase in Production to Expedite Processing of Purchase Order Backlogs
                    5.2.1.3 Reduction in Manufacturing and Assembling Costs
                    5.2.1.4 Development of Fuel-Efficient Aircraft
           5.2.2 Restraints
                    5.2.2.1 Issues Related to Recyclability
                    5.2.2.2 Lack of Standardization in Manufacturing Technologies
           5.2.3 Opportunities
                    5.2.3.1 Increase in Number of Aircraft Deliveries Globally
                    5.2.3.2 Reduction in the Cost of Carbon Fibers
                    5.2.3.3 Development of Advanced Software Tools for Aerospace Composites
           5.2.4 Challenges
                    5.2.4.1 Developing Low-Cost Technologies
    5.3 Porter’s Five Forces Analysis
           5.3.1 Threat of New Entrants
           5.3.2 Threat of Substitutes
           5.3.3 Bargaining Power of Suppliers
           5.3.4 Bargaining Power of Buyers
           5.3.5 Intensity of Competitive Rivalry

6 Macroeconomic Overview and Key Trends (Page No. - 47)
    6.1 Introduction
    6.2 Trends and Forecast of GDP
    6.3 Per Capita GDP vs Per Capita Composite Materials Demand
    6.4 Trends of Aerospace Industry
    6.5 Air Traffic Trends in Aerospace Industry

7 Aerospace Composites Market, By Fiber Type (Page No. - 52)
    7.1 Introduction
    7.2 Carbon Fiber Composites
    7.3 Ceramic Fiber Composites
    7.4 Glass Fiber Composites
    7.5 Others

8 Aerospace Composites, By Resin Type (Page No. - 60)
    8.1 Introduction
    8.2 Epoxy
    8.3 Phenolic
    8.4 Polyester
    8.5 Polyimide
    8.6 Thermoplastic
    8.7 Ceramic and Metal Matrix
    8.8 Others
           8.8.1 Benzoxazine
           8.8.2 Cyanate Ester
           8.8.3 Bismalimide (BMI)

9 Aerospace Composites Market, By Aircraft Type (Page No. - 72)
    9.1 Introduction
    9.2 Commercial Aircraft
           9.2.1 Single Aisle Aircraft
           9.2.2 Widebody Aircraft
           9.2.3 Regional Jets
    9.3 Business and General Aviation
           9.3.1 Business Jet
           9.3.2 Piston & Turboprop
    9.4 Civil Helicopter
    9.5 Military Aircraft
    9.6 Others
           9.6.1 Unmanned Aerial Vehicles (UAV)
           9.6.2 Spacecraft

10 Aerospace Composites Market, By Manufacturing Process (Page No. - 83)
     10.1 Introduction
     10.2 AFP/ATL
     10.3 Layup Process
     10.4 Resin Transfer Molding Process
     10.5 Filament Winding Process
     10.6 Others

11 Aerospace Composites Market, By Application (Page No. - 92)
     11.1 Introduction
     11.2 Interior
             11.2.1 Seats
             11.2.2 Cabin
             11.2.3 Sandwich Panels
             11.2.4 Environmental Control System (ECS) Ducting
     11.3 Exterior
             11.3.1 Fuselage
             11.3.2 Engine
             11.3.3 Wings
             11.3.4 Rotor Blades
             11.3.5 Tail Boom

12 Regional Analysis (Page No. - 99)
     12.1 Introduction
     12.2 North America
             12.2.1 U.S.
             12.2.2 Canada
     12.3 Europe
             12.3.1 France
             12.3.2 U.K.
             12.3.3 Germany
             12.3.4 Italy
             12.3.5 Austria
             12.3.6 Netherlands
             12.3.7 Poland
             12.3.8 Russia
             12.3.9 Sweden
             12.3.10 Spain
             12.3.11 Turkey
     12.4 Asia-Pacific
             12.4.1 China
             12.4.2 Japan
             12.4.3 Singapore
             12.4.4 Malaysia
             12.4.5 India
             12.4.6 South Korea
             12.4.7 Australia & New Zealand
     12.5 Middle East & Africa
             12.5.1 UAE
             12.5.2 Israel
             12.5.3 South Africa
     12.6 Latin America
             12.6.1 Brazil
             12.6.2 Mexico

13 Competitive Landscape (Page No. - 117)
     13.1 Introduction
             13.1.1 Market Share Analysis
                        13.1.1.1 Solvay Group
                        13.1.1.2 Toray Industries, Inc.
                        13.1.1.3 Hexcel Corporation
             13.1.2 New Product Launches
             13.1.3 Agreements & Partnerships
             13.1.4 Investments & Expansions
             13.1.5 Acquisitions

14 Company Profiles (Page No. - 122)
(Business Overview, Products Offered, Scorecard of Product Offering, Scorecard of Business Strategy, and New Product Launch)
     14.1 Solvay Group
     14.2 Hexcel Corp.
     14.3 Royal Tencate N.V.
     14.4 Teijin Limited
     14.5 Toray Industries, Inc.
     14.6 SGL Group—The Carbon Company
     14.7 Owens Corning
     14.8 Materion Corporation
     14.9 Mitsubishi Rayon Co. Ltd.
     14.10 Renegade Materials Corporation
     14.11 Other Players
             14.11.1 Gurit
             14.11.2 General Electric
             14.11.3 Rolls Royce
             14.11.4 Honeywell International
             14.11.5 Advanced Composites
             14.11.6 Kineco-Kaman
             14.11.7 Nippon Graphite Fiber
             14.11.8 Quantum Composites
             14.11.9 Hyosung
             14.11.10 Hexion
             14.11.11 E. I. Du Pont Nemours & Co.

*Details Might Not Be Captured in Case of Unlisted Companies

15 Appendix (Page No. - 152)
     15.1 Insights From Industry Experts
     15.2 Discussion Guide
     15.3 Knowledge Store: Marketsandmarkets Subscription Portal
     15.4 Introducing RT: Real-Time Market Intelligence
     15.5 Available Customizations
     15.6 Related Reports
     15.7 Author Details


List of Tables (76 Tables)

Table 1 Trends and Forecast of GDP, 2016–2022 (USD Billion)
Table 2 Per Capita GDP vs Per Capita Composite Materials Demand, 2016
Table 3 Number of New Airplane Demand, By Region, 2016-2035
Table 4 Air Traffic Trends in Aerospace Industry, By Region, 2011–2015, (Revenue Passenger Kilometers)
Table 5 Aerospace Composites Market Size, By Fiber Type, 2015–2022 (USD Billion)
Table 6 Aerospace Composites Market Size, By Fiber Type, 2015–2022 (Kiloton)
Table 7 Carbon Fiber Composites Market Size, By Region, 2015–2022 (USD Million)
Table 8 Carbon Fiber Composites Market Size, By Region, 2015–2022 (Kiloton)
Table 9 Ceramic Fiber Composites Market Size, By Region, 2015–2022 (USD Million)
Table 10 Ceramic Fiber Composites Market Size, By Region, 2015–2022 (Kiloton)
Table 11 Glass Fiber Composites Market Size, By Region, 2015–2022 (USD Million)
Table 12 Glass Fiber Composites Market Size, By Region, 2015–2022 (Kiloton)
Table 13 Other Fiber Composites Market Size, By Region, 2015–2022 (USD Million)
Table 14 Other Fiber Composites Market Size, By Region, 2015–2022 (Kiloton)
Table 15 Aerospace Composites Market Size, By Resin Type, 2015–2022 (USD Million)
Table 16 Aerospace Composites Market Size, By Resin Type, 2015–2022 (Kiloton)
Table 17 Epoxy Resin Composites Market Size, By Region, 2015–2022 (USD Million)
Table 18 Epoxy Resin Composites Market Size, By Region, 2015–2022 (Kiloton)
Table 19 Phenolic Resin Composites Market Size, By Region, 2015–2022 (USD Million)
Table 20 Phenolic Resin Composites Market Size, By Region, 2015–2022 (Kiloton)
Table 21 Polyester Resin Composites Market Size, By Region, 2015–2022 (USD Million)
Table 22 Polyester Resin Composites Market Size, By Region, 2015–2022 (Kiloton)
Table 23 Polyimide Resin Composites Market Size, By Region, 2015–2022 (USD Million)
Table 24 Polyimide Resin Composites Market Size, By Region, 2015–2022 (Kiloton)
Table 25 Thermoplastic Resin Composites Market Size, By Region, 2015–2022 (USD Million)
Table 26 Thermoplastic Resin Composites Market Size, By Region, 2015–2022 (Kiloton)
Table 27 Ceramic and Metal Matrix Resin Composites Market Size, By Region, 2015–2022 (USD Million)
Table 28 Ceramic and Metal Matrix Resin Composites Market Size, By Region, 2015–2022 (Kiloton)
Table 29 Other Resin Composites Market Size, By Region, 2015–2022 (USD Million)
Table 30 Other Resin Composites Market Size, By Region, 2015–2022 (Kiloton)
Table 31 Aerospace Composites Market Size, By Aircraft Type, 2015–2022 (USD Million)
Table 32 Aerospace Composites Market Size, By Aircraft Type, 2015–2022 (Kiloton)
Table 33 Aerospace Composites Market Size in Commercial Aircraft, By Region, 2015–2022 (USD Million)
Table 34 Aerospace Composites Market Size in Commercial Aircraft, By Region, 2015–2022 (Kiloton)
Table 35 Aerospace Composites Market Size in Business and General Aviation, By Region, 2015–2022 (USD Million)
Table 36 Aerospace Composites Market Size in Business and General Aviation, By Region, 2015–2022 (Kiloton)
Table 37 Aerospace Composites Market Size in Civil Helicopter, By Region, 2015–2022 (USD Million)
Table 38 Aerospace Composites Market Size in Civil Helicopter, By Region, 2015–2022 (Kiloton)
Table 39 Aerospace Composites Market Size in Military Aircraft, By Region, 2015–2022 (USD Million)
Table 40 Aerospace Composites Market Size in Military Aircraft, By Region, 2015–2022 (Kiloton)
Table 41 Aerospace Composites Market Size in Other Aircrafts, By Region, 2015–2022 (USD Million)
Table 42 Aerospace Composites Market Size in Other Aircrafts, By Region, 2015–2022 (Kiloton)
Table 43 Aerospace Composites Market Size, By Manufacturing Process, 2015–2022 (USD Million)
Table 44 Aerospace Composites Market Size, By Manufacturing Process, 2015–2022 (Kiloton)
Table 45 AFP/ATL Process: By Market Size, By Region, 2015–2022 (USD Million)
Table 46 AFP/ATL Process: By Market Size, By Region, 2015–2022 (Kiloton)
Table 47 Layup Process: By Market Size, By Region, 2015–2022 (USD Million)
Table 48 Layup Process: By Market Size, By Region, 2015–2022 (Kiloton)
Table 49 RTM/VARTM Process: By Market Size, By Region, 2015–2022 (USD Million)
Table 50 RTM/VARTM Process: By Market Size, By Region, 2015–2022 (Kiloton)
Table 51 Filament Winding Process: By Market Size, By Region, 2015–2022 (USD Million)
Table 52 Filament Winding Process: By Market Size, By Region, 2015–2022 (Kiloton)
Table 53 Other Processes: By Market Size, By Region, 2015–2022 (USD Million)
Table 54 Other Processes: By Market Size, By Region, 2015–2022 (Kiloton)
Table 55 Aerospace Composites By Market Size, By Application, 2015–2022 (USD Million)
Table 56 Aerospace Composites By Market Size, By Application, 2015–2022 (Kiloton)
Table 57 Aerospace Composites By Market Size in Interior Application, By Region, 2015–2022 (USD Million)
Table 58 Aerospace Composites By Market Size in Interior Application, By Region, 2015–2022 (Kiloton)
Table 59 Aerospace Composites By Market Size in Exterior Application, By Region, 2015-2022 (USD Million)
Table 60 Aerospace Composites By Market Size in Exterior Application, By Region, 2015–2022 (Kiloton)
Table 61 Aerospace Composites By Market Size, By Region, 2015–2022 (USD Million)
Table 62 Aerospace Composites By Market Size, By Region, 2015–2022 (Kiloton)
Table 63 North America: By Market Size, By Country, 2015–2022 (USD Million)
Table 64 North America: By Market Size, By Country, 2015–2022 (Kiloton)
Table 65 Europe: By Market Size, By Country, 2015–2022 (USD Million)
Table 66 Europe: By Market Size, By Country, 2015–2022 (Kiloton)
Table 67 Asia-Pacific: By Market Size, By Country, 2015–2022 (USD Million)
Table 68 Asia-Pacific: By Market Size, By Country, 2015–2022 (Kiloton)
Table 69 Middle East & Africa: By Market Size, By Country, 2015–2022 (USD Million)
Table 70 Middle East & Africa: By Market Size, By Country, 2015-2022 (Kiloton)
Table 71 Latin America: By Market Size, By Country, 2015–2022 (USD Million)
Table 72 Latin America: By Market Size, By Country, 2015–2022 (Kiloton)
Table 73 New Product Launches, 2012–2017
Table 74 Agreements & Partnerships, 2012–2017
Table 75 Investments & Expansions, 2012–2017
Table 76 Acquisitions, 2012–2017


List of Figures (55 Figures)

Figure 1 Aerospace Composites: Market Segmentation
Figure 2 Aerospace Composites Market: Research Design
Figure 3 Market Size Estimation: Bottom-Up Approach
Figure 4 Market Size Estimation: Top-Down Approach
Figure 5 Aerospace Composites Market: Data Triangulation
Figure 6 Carbon Fiber Composites to Lead Aerospace Composites Market Between 2017 and 2022
Figure 7 Epoxy Resin to Drive Aerospace Composites Market Between 2017 and 2022
Figure 8 Commercial Aircraft to Dominate Aerospace Composites Market Between 2017 and 2022
Figure 9 Exterior Application to Dominate the Market Between 2017 and 2022
Figure 10 AFP/ATL Manufacturing Process to Witness the Highest Growth Between 2017 and 2022
Figure 11 North America to Register the Highest CAGR Between 2017 and 2022
Figure 12 Attractive Opportunities in Aerospace Composite Market Between 2017 and 2022
Figure 13 AFP/ATL to Witness High Growth Between 2017 and 2022
Figure 14 Commercial Aircraft Segment Accounted for the Largest Market Share in 2016
Figure 15 Carbon Fiber Composites to Dominate the Market Between 2017 and 2022
Figure 16 Epoxy Segment to Lead Aerospace Composites Market Between 2017 and 2022
Figure 17 Exterior Segment to Dominate Aerospace Composites Market Between 2017 and 2022
Figure 18 Canada to Be the Fastest-Growing Aerospace Composites Market Between 2017 and 2022
Figure 19 Drivers, Restraints, Opportunities, and Challenges in Aerospace Composites Market
Figure 20 Aerospace Composites Market: Porter’s Five Forces Analysis
Figure 21 Trends and Forecast of GDP, 2016 (USD Billion)
Figure 22 Carbon Fiber Composites to Lead Overall Aerospace Composites Market
Figure 23 North America to Dominate Carbon Fiber Composites Market During Forecast Period
Figure 24 Asia-Pacific Projected to Register Highest CAGR in Glass Fiber Composites Market During Forecast Period
Figure 25 Epoxy Resins to Dominate Overall Aerospace Composites Market During Forecast Period
Figure 26 North America to Dominate Epoxy Resin Based Aerospace Composites Market
Figure 27 North America to Dominate Thermoplastics Aerospace Composites Market
Figure 28 Commercial Aircraft to Dominate Aerospace Composites Market During Forecast Period
Figure 29 North America to Dominate Commercial Aircraft Aerospace Composites Market During Forecast Period
Figure 30 North America to Dominate Aerospace Composites Market in Military Aircraft Segment During Forecast Period
Figure 31 AFP/ATL Manufacturing Process to Dominate Aerospace Composites Market
Figure 32 North America to Dominate Aerospace Composites Market for AFP/ATL Manufacturing Process Segment
Figure 33 Europe to Dominate Aerospace Composites Market for RTM/VARTM Manufacturing Process Segment
Figure 34 Exterior Application to Dominate Aerospace Composites Market Till 2022
Figure 35 North America Expected to Drive Aerospace Composites Market in Interior Applications During the Forecast Period
Figure 36 Regional Market Snapshot: Canada to Drive the Aerospace Composites Market Between 2017 and 2022
Figure 37 North America Market Snapshot: U.S. is the Most Lucrative Aerospace Composites Market
Figure 38 Europe Market Snapshot: France is the Most Lucrative Aerospace Composites Market
Figure 39 Aerospace Composites Market Snapshot: China is Fastest-Growing Market in Asia-Pacific
Figure 40 Companies Adopted New Product Launch and Agreement & Partnership as Key Growth Strategies Between 2012 and 2017
Figure 41 Solvay Group: Company Snapshot
Figure 42 Solvay Group: SWOT Analysis
Figure 43 Hexcel Corp.: Company Snapshot
Figure 44 Hexcel Corporation: SWOT Analysis
Figure 45 Royal Tencate N.V.: Company Snapshot
Figure 46 Royal Tencate N.V.: SWOT Analysis
Figure 47 Teijin Limited: Company Snapshot
Figure 48 Teijin Limited: SWOT Analysis
Figure 49 Toray Industries, Inc.: Company Snapshot
Figure 50 Toray Industries, Inc.: SWOT Analysis
Figure 51 SGL Group: Company Snapshot
Figure 52 SGL Group: SWOT Analysis
Figure 53 Owens Corning: Company Snapshot
Figure 54 Owens Corning: SWOT Analysis
Figure 55 Materion Corporation: Company Snapshot

The aerospace composites market is projected to grow from an estimated USD 26.87 Billion in 2017 to USD 42.97 Billion by 2022, at a CAGR of 9.85% between 2017 and 2022. The growth of the aerospace composites market can be attributed to increased use of aerospace composites commercial and military aircraft, as these offer a high strength-to-weight ratio and increased heat resistance. Moreover, these are lightweight, which increases the fuel efficiency of the aircraft and provides structural stability.

The aerospace composites market has been segmented based on fiber type, resin type, aircraft type, manufacturing process, application, and region.

Among manufacturing processes, the AFP/ATL manufacturing process segment led the aerospace composites market in 2016, in terms of both value as well as volume. The growth of this segment is attributed to the ease of manufacturing complex structures which is not possible in any other manufacturing process.

North America is the largest consumer of aerospace composites across the globe, in terms of both value and volume. The growth of the North America aerospace composites market is driven by the increasing consumption of aerospace composites in exterior and interior parts in commercial and military aircraft. The US is the largest consumer of aerospace composites globally, in terms of value and volume and is expected to strengthen its position further during the forecast period. The growth of the US aerospace composites market is attributed to the presence of giant players such as Boeing and GE along with the establishment of several new carbon fiber production plants in the country.

Among fiber types, the carbon fiber composites segment is projected to lead the aerospace composites market, in terms of both value and volume during the forecast period, as carbon fiber composites are lightweight and strong and are therefore used in a wide range of applications in various industries.

Among resin types, the aerospace thermoplastic resin composites segment accounted for the largest share of the aerospace composites market in terms of value as well as volume in 2016. The large share of this segment can be attributed to increased use of these resins in interiors of aircraft parts. These do not expand under high-heat and moist conditions and are also recyclable, making them suitable for highly corrosive and high-temperature applications.

Aerospace composites are used in interior as well as exterior structural components of aircraft. Interior applications of composites include cabin parts such as floorboards, luggage bins, trolleys, ceilings, panels, seats, and other components. Exterior structural applications constituted a major portion in the aerospace composites market, by both value and volume in 2016. There is a high demand for carbon fiber composites in airframe structures owing to their light weight, increased fuel efficiency, superior performance, easy maintenance, and reduced part counts.

Aerospace Composites Market

The global aerospace composites market size is growing rapidly, in terms of value. However, a few factors act as restraints in the growth of the aerospace composites market. Issues related to recyclability and lack of standardization in manufacturing technologies are expected to be the major restraints for the growth of the aerospace composites market.

Companies such as Royal Ten Cate (Netherlands), Toray Industries, Ltd. (Japan), Teijin Ltd. (Japan), Hexcel Corporation (US), SGL Group (Germany), and Solvay Group (Belgium) are the leading players in the global aerospace composites market. They have been adopting various organic and inorganic growth strategies such as agreements & partnerships, new product launches, investments & expansions, and acquisitions to enhance their shares in the global aerospace composites market.

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