Advance composite market to show USD 39.85 billion by 2023 according to market forecasts

The Professional Report Advance Composite Market Published by Genesis Market Insights. Advance Composite Market Report covers in detail information of Global Strategies, market figures, Regional analysis, and others. The report is easier to make a decision and can cover the required assessment and helps to drive the stronger business.

GLOBAL ADVANCED COMPOSITES MARKET was valued at USD 23.80 Billion in the year 2017. Global Advanced Composites Market is further estimated to grow at a CAGR of 8.97% from 2017 to reach USD 39.85 Billion by the year 2023.

North America region holds the highest market share in 2017 and European market is considered to be the fastest growing market in the forecasted period. At a country level, developed markets like the U.S.

hold a notable market share in 2016 and it is projected to grow at a gradual rate in the coming years.

Koninklijke Ten Cate BV (Netherlands), Mitsubishi Chemical Holdings Corporation (Japan), Toray Industries, Inc. (Japan), Teijin Limited (Japan) are some of the key players in the Advanced Composites Market with Koninklijke Ten Cate BV holding the considerable market share because of its better global presence both at production and at an operational level.

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Rising research and development expenses to satisfy changing demands of end users, similarly, growth strategies such as acquisition, merger, and expansion of the distribution network were few techniques adopted by most of the top players in last 5 years.

Drivers:

             Rising demand in Aerospace & Defense industry

Restraints:

             The high cost of raw materials used for manufacturing

Opportunities:

             Emerging market pose an opportunity

Challenges:

             Recycling products & reducing wastes

Segmentation done on the basis of the end-user industry includes Transportation, Aerospace & Defense, Civil Engineering, Electrical & Electronics segments. Aerospace & Defense segment is expected to hold the highest market share during the forecast period.

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The Transportation segment is also expected to grow at the highest CAGR of during the year 2018-2023.

Key Benefits for Stakeholders

Advanced Composites Manufacturers, Distributors, and Retailers

Research and Consulting organization

Technology Standards Organizations, Forums, Alliances and Associations

End-use industries

Regulatory bodies, policy actors, and consumers.

By Fiber

Aramid

Glass

Carbon

Others

By End-Use Industry

Transportation

Aerospace & Defense

Civil Engineering

Electrical & Electronics

Others

By Manufacturing

Resin Transfer Molding Process

Compression Molding Process

Injection Molding Process

Filament Winding Process

Others

By Region

North America

Europe

Asia-Pacific

ROW

Key Market Players

Koninklijke Ten Cate BV. (Netherlands)

Mitsubishi Chemical Holdings Corporation (Japan)

Toray Industries, Inc. (Japan)

Teijin Limited (Japan)

Huntsman International, LLC. (U.S.)

Hexcel Corporation (U.S.)

SGL Group (Germany)

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