Advanced Polymer Composites Market Analysis :
A composite material can be defined as the material made of two or more component materials with markedly different physical or chemical properties that, when combined, produce a material with unique attributes. Owing to the widening applications, the global advanced polymer composites market is expected to grow rapidly in the coming years. Advanced polymer composites demonstrate superior properties, such as high strength, rigidity, enhanced fatigue, and resistance to abrasion. Thus, they are widely utilized in the manufacturing of high-performance aircraft parts such as engine nacelles, wings, elaborators, floor beams, ailerons, rudders, and landing gear doors components on account of its superior strength to weight ratio.
Key drivers of global advanced polymer composites market
Rise in importance of energy generation from renewable sources and surge in requirement for high material strength in wind power installations boost the demand for polymer composites. Booming industrialization and flourishing alternative energy sector are expected to boost the global market growth. Furthermore, the growth of the advanced polymer composites market is driven by increase in product demand in automotive and aerospace industries, owing to its superior technical properties such as high strength, stiffness, enhanced fatigue, and abrasion resistance.
Market scenario: opportunities and challenges
The aerospace industry is projected to be the key consumer in the coming years, as advanced polymer composites are used to make parts of aircraft such as engine nacelles, elaborators, wings, ailerons, floor beams, landing gear doors, and rudders, as these ensure remarkable operational efficiency. Rapid urbanization and improved lifestyle are anticipated to propel the number of airline passengers coupled with reduced fare prices. Furthermore, surge in demand from defense and logistics for aircraft carriers boosts the uptake of advanced polymer composites in the aerospace industry. In addition, shift in focus toward renewable energy sources is projected to boost the demand for advanced polymer composites for blades used in wind power plants. However, high product price due to its complex production process and stringent government regulations toward the use of polymers, owing to their negative environmental effects hinder the growth of the advanced polymer composite market in the future.
COVID-19 scenario analysis
Owing to the outbreak of the COVID-19 pandemic, the global advanced polymer composites market is expected to witness a slowdown during the next couple of years. Government of various countries have implemented lockdown, which has led to shutdown of factories in scores of cities and provinces across the world, thus leading to predictions of a sharp slowdown in the output of numerous industries. Recent decline in the aerospace industry growth is one of the key factors that is likely to negatively impact the growth of the market. Furthermore, companies are dealing with missing sales and disrupted supply chains as production activities are shutdown.
Key benefits of the report
- This study presents the analytical depiction of the global advanced polymer 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 global advanced polymer composites market share.
- The current market is quantitatively analyzed to highlight the global advanced polymer composites market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.
Questions answered in the global advanced polymer composites market research report
- Which are the leading market players active in the advanced polymer composites market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
Advanced Polymer Composites Market Report Highlights
Key Market Players
Solvay S.A., Arkema S.A., BASF SE, Owens Corning Corporation, Kemrock Industries and Exports Limited, SGL Carbon SE, Mitsubishi Rayon Co. Ltd., Toray Industries Inc, B-Fibreglass sprl, Cristex Ltd