The global Advanced Composites Market research report 2030, as published by Data bridge Market Research, provides insights into the current global outlook and key regions, examining Major Players, Countries, Product Types, and end industries. It focuses on top players in the global market and categorizes the market based on several parameters.
This Advanced Composites market research report identifies the competitive landscape of industries, offering a comprehensive understanding of international competition. The study outlines the anticipated growth of the global market during forecast period. Compiled with a blend of static and dynamic perspectives, this research report captures the essence of the businesses views.
Data Bridge Market Research analyses that the advanced composites market is expected to reach USD 40,574.57 million by 2030, which was USD 21,921.18 million in 2022, registering a CAGR of 8.00% during the forecast period of 2023 to 2030.
Top Companies in the Global Advanced Composites Market:
TORAY INDUSTRIES, INC. (Japan), Teijin Aramid B.V. (Netherlands), Mitsubishi Chemical Group Corporation Japan Huntsman International LLC. (U.S.), BASF SE (Germany), Solvay (Belgium), Akzo Nobel N.V. (Netherlands); DuPont (U.S.), Hexion (U.S.), Honeywell International Inc. (U.S.), Owens Corning (U.S.), Formosa Plastics Corporation (Taiwan), Henkel AG & Co. KgaA (Germany), Lyondellbasell Industries Holdings B.V. (Netherlands), Hanwha Solutions (South Korea), SGL Carbon (Germany), Kemira (Finland), H.B Fuller Company (U.S.), Evonik Industries AG (Germany), among others.
Market Segmentation:
Fiber Type
• Carbon
• S-Glass
• Aramid
• Others
Resin Type
• Thermosetting
• Thermoplastic
Manufacturing Process
• Automated Tape Laying (ATL)
• Automated Fiber Placement (AFP)
• Hand Layup/Spray Layup
• Filament Winding, Pultrusion
• Resin Transfer Molding (RTM)
• Compression Molding
• Injection Molding
• Others
End-User
• Aerospace and Defense
• Automotive
• Energy and Power
• Sports Equipment
• Civil Engineering
• Electrical and Electronics
• Healthcare
• Others
Geographically, the detailed analysis of consumption, revenue, market share, and growth rate of the following regions:
– Middle East and Africa (South Africa, Saudi Arabia, UAE, Israel, Egypt, etc.)
– North America (United States, Mexico & Canada)
– South America (Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, etc.)
– Europe (Turkey, Spain, Turkey, Netherlands Denmark, Belgium, Switzerland, Germany, Russia UK, Italy, France, etc.)
– Asia-Pacific (Taiwan, Hong Kong, Singapore, Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia).
Market Dynamics:
Drivers
• Growing demand of advanced composites in defense industry
The increasing demand of aramid composites is expected to drive the growth of the global advanced composites over the forecast period. This is because of their increasing application in the defense industry. The diversified characteristics of aramid composites including high strength, high heat, low density and impact resistance is expected to be the key factor promoting growth.
• Increasing demand for fuel-efficient vehicles
The increasing concerns regarding climate change have emphasized the requirement to have fuel-efficient vehicles to reduce carbon emissions. As a result, vehicle manufacturers utilize advanced composite to reduce the weight of vehicle without compromising safety. The reduction in vehicle-weight surges engine efficiency. Thus, the growing demand for fuel-efficient vehicles will drive the market growth.
Opportunities
• High usage of advanced composites in construction industry
Waterfronts, bridges, and other structures require replacement and rehabilitation as a result of aging infrastructure. Advanced composites offer better corrosion resistance and durability properties, which contribute to low maintenance, resulting a long-term economic advantage over traditional materials such as concrete and steel. The main applications of advanced composites in architecture include bridge decks, full-bridge structures, cladding, domes, roofing, structures, as a result of which the demand for these composites increase which will likely to create ample opportunities for the market growth.
• Increasing strategic agreements between market players
Increasing strategic agreements between market players will create ample opportunities for the market growth. For instance, Toray Advanced Composites has announced that it had completed an agreement with Joby Aviation in December 2020 for the composite material which are used for its aircraft. Joby Aviation will use the composite materials of Toray’s to provide global communities with zero-emissions and aerial ridesharing.
Browse The Report Description:
https://www.databridgemarketresearch.com/reports/global-advanced-composi...
Strategic Points from Table of Content:
– Market Summary
– Economic Impact Competition Analysis by Players
– Production, Revenue (Value) by geographical segmentation
– Advanced Composites Market Size by Type and Application
– Regional Market Status and Outlook
– Advanced Composites Market Analysis and Outlook
– Advanced Composites Market Forecast by Region, Type, and Application
– Cost Investigation, Market Dynamics
– Marketing Strategy comprehension, Distributors and Traders
– Market Effect Factor Analysis
– Research Finding/ Conclusion
– Appendix
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