Advanced composites Market by Type (Glass Fiber Composites, Carbon Fiber Composites, Natural Fiber Composites and Other Fiber Composites) and End-use Industry (Aerospace & Defense, Transportation and Wind Energy): Global Opportunity Analysis and Industry Forecast, 2021-2028

Advanced Composites Market Analysis 2021-2028

Advanced composite substances are characterized through their excessive unique strength and stiffness and, in combination with automated manufacturing processes, make it feasible to manufacture composite structures with excessive levels of weight and cost efficiency. The advanced composites are used in the aerospace & defense, transportation, sporting goods, marine, and wind energy industries and so forth. Advanced composites are favored in various industries due to advantages such as optimum strength, light weight, improved fatigue life, good design practice and others. The factors such as high fabrication; assembly costs and high raw material costs hinders its market growth. High cost is one of the major disadvantages of advanced composite materials.

Market Scope and Structure Analysis

COVID-19 Impact analysis

• The COVID-19 affected the world’s financial system that had an extraordinary effect on many principal industries, such as aerospace and automotive, transportation, wind energy and others.
• The advanced composites market dynamics, competitiveness, and worldwide supply chains have all been influenced by Covid-19. The demand for advanced composites from wind energy, aerospace & defense, automotive & transportation, pipes & tanks, and different industries is predicted to decline.
• Advancements in technology, regulatory policies and authorities’ norms are a number of the most important factors that are riding the composites marketplace in APAC. However, the COVID-19 pandemic is anticipated to lessen the demand for composites in the market owing to non-stop lockdown throughout numerous countries.

Top Impacting Factors

The rising use of advanced composites in different applications such as aerospace and military, wind energy, and transportation is driving the growth of the North American advanced composites market. The establishment of a number of new carbon fiber production plants in the United States, as well as increased investments by various European-based companies involved in the aerospace and defense, transportation, and wind energy industries, have all contributed to the growth of the advanced composites market in the U.S. However due to COVID-19, aerospace and automotive, transportation, wind energy industries were affected negatively, which became the concerning factor for the Advanced composites Market. High cost of advanced composite materials is also one of the major factors that hinder the growth of advanced composite market.

Market Trends

• Composite materials are witnessing unexpectedly growing demand from the aerospace industry. The use of composite materials in commercial transport aircraft is high due to decreased airframe weight, which permits higher fuel economy, and consequently lowers running costs.
• The main producers of the advanced composites are closely making an investment in the manufacturing of thermoplastic composites to fulfill rise in demand from numerous end-use industries.
• Covestro is launching a product that will be able to recycle the polycarbonate composites.
• As part of its efforts to promote the circular economy, Mitsubishi Chemical Corporation has purchased two Swiss engineering plastics recyclers, Minger Kunststofftechnik AG and Minger Plastic AG, through its group subsidiary Mitsubishi Chemical Advanced Materials.

Key Segments Covered

Technology

• Metal Matrix Composite
• Ceramic Matrix Composite
•  Polymer Matrix Composite

Application

• Aerospace
• Aircraft
• Sports equipment
• Others

Industry Vertical

• Aerospace & Defense
• Wind Energy
• Transportation
• Construction & Infrastructure
• Marine
• Pipes & Tanks
• Electrical & Electronics
• Others

Region

• North America

• U.S.
• Canada
• Mexico

• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia-Pacific
• LAMEA
  • Brazil
  • Saudi Arabia
  • South Africa
  • Rest of LAMEA

Key Benefits of the Report

• This study presents the analytical depiction of the advanced composites industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the advanced composites market share.
• The current market is quantitatively analyzed from 2020 to 2028 to highlight the advanced composites market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed advanced composites market analysis based on competitive intensity and how the competition will take shape in coming years

Questions answered in the advanced composites report

• Who are the leading market players active in the advanced composites market?
• What current trends will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the market?
• What future projections would help in taking further strategic steps?
  • Upcoming Report specific FAQs Examples: Can be utilized randomly 4-5 FAQs per RD OR other from own suggestions, suitable for upcoming report.
    • What is “Advanced composites"?
    • What does "Advanced composites" allow organizations to achieve?
    • Which technologies combine to make "Advanced composites" a critical organizational asset?
    • What is "Advanced composites" market prediction in the future?
    • Who are the leading global players in the "Advanced composites" market?
    • What are the current trends and predicted trends?
    • What are the challenges faced in the “Advanced composites" Market?
    • What are the key benefits of the "Advanced composites" Market report?
    • What will be the anticipated growth rates for your own Advanced composites Market economy altogether and also for every segment inside?
    • Which will be the niches at which players profiling with recent advancements should set a presence?
    • What are the driving factors and opportunities in the market?                                   

 Key Market Segments

 
Key Market Players

• Mitsubishi Chemical Holdings Corporation
• Toray Industries, Inc.
• Huntsman International LLC
• Honeywell International Inc.
• Axalta Coating Systems, LLC
• DowAksa Advanced composites Holdings BV,
• Koninklijke Ten Cate B.V.
• Cytec Solvay Group
• Toray Industries Inc.
• Hexcel Corporation
• PPG Industries
• BASF SE
• Carbon angraphite product manufacturing company.