Opportunities for the global advanced composites to reach $5.2 billion by 2022
The global advanced composites end product market is expected to reach an estimated $17.1 billion by 2022. The major drivers of growth for this market are increasing demand of lightweight materials in the aerospace & defense and automotive industry.
Growing demand for lightweight materials in the automotive industry is expected to spur growth for this segment over the forecast period. Within the global advanced composites market, aerospace & defense application is expected to be to remain the largest market by volume and value consumption.
The major driver for this segment is the increase penetration of composites in next generation commercial aircraft, like Boeing’s B787 and Airbus 380, regional aircraft such as Bombardier’s C Series, and general aviation aircraft such as Cirrus and Diamond. By resin type, epoxy, phenolic, and vinyl ester are the major resin used to manufacture advanced composite parts.
Epoxy resin composites are expected to be the largest market by value and volume. North America is expected to remain the largest market by value and volume and is also expected to experience the highest growth over the forecast period because of growth in end-use industries and the increasing demand for lightweight materials in the aerospace and automotive industries.
Emerging trends, which have a direct impact on the dynamics of the industry, include increased demand for carbon fiber which has high tensile strength, modulus, and compatibility with different resins. Toray, Teijin, Mitsubishi Rayon, Hexcel, Dupont, Momentive, Huntsman, and Olin Epoxy are the major advanced composite manufacturers in the global advanced composites market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global advanced composites market by end use industry, fiber type, resin type and region. Lucintel has prepared a comprehensive research report entitled “Growth Opportunities in the Global Advanced Composites Market 2017-2022: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides a comprehensive data and analysis on trends, key drivers, and directions.
The study includes a forecast for the global advanced composites market by end use industries, fiber type, resin type, and region, as follows: By end use industries ($ Million and Million Pounds from 2011 to 2022) • Aerospace & Defense • Wind Energy • Automotive • Marine • Construction • E&E • Consumer Goods • Pressure Vessels • Others By Fiber Type ($ Million and Million Pounds from 2011 to 2022) • Carbon Composites • S-Glass Composites • Aramid Composites By Resin Type ($ Million and Million Pounds from 2011 to 2022) • Epoxy Composites • Phenolic Composites • Vinyl ester Composites • Thermoplastic Composites • Other Composites By Region ($ million and Million Pounds from 2011 to 2022) • North America • Europe • Asia Pacific • Rest of the World This 249-page research report will enable you to make confident business decisions in this globally competitive marketplace.
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