The global demand for Advanced Composites Market is presumed to reach the market size of nearly USD 77.71 BN by 2030 from USD 35.73 BN in 2022 with a CAGR of 9.3% under the study period 2023 - 2030. Regarding volume, the market was calculated XX Kilo Tons in 2022 and forecast to touch XX Kilo Tons by 2030 with a CAGR of XX% during 2023-2030.
Advanced composites are made up of many components with high specific strength and stiffness. Advanced composites are employed in various industries, including aerospace and defence, transportation, sporting goods, marine, and wind energy. Advantages such as optimum strength, lightweight, better fatigue life, good design practise, and others have made advanced composites popular in various industries. Structures made of advanced composites have high strength and are light in weight.
Market Dynamics
Rising demand for carbon fibre and s-glass fibre composites in the aerospace and military industry and increased demand for carbon fibre composites in new end-use sectors such as civil engineering, medical, and pipelines and tanks are driving the worldwide advanced composites market. Furthermore, the advanced composites market is being propelled forward by the industrialization of emerging markets such as China, India, and Japan. The need for advanced composites is predicted to rise in response to the rising demand for environmentally friendly speciality items. Nevertheless, the market's growth is expected to be hampered by the high cost of advanced composites and the availability of an alternative on the market.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of advanced composites. The growth and trends of advanced composites industry provide a holistic approach to this study.
Market Segmentation
This section of the advanced composites market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Product
- Aramid Fiber Composites
- Carbon Fiber Composites
- Glass Fiber Composites
By Application
- Aerospace & Defense
- Automotive
- Wind Energy
- Sporting Goods
- Others
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Advanced Composites market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Advanced Composites Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the advanced composites market include Toray Industries Inc., Koninklijke Ten Cate NV, Teijin Limited, Hexcel Corporation, SGL Group, Cytec Solvay Group, Owens Corning, E. I. Dupont De Nemours and Company, Huntsman Corporation, Momentive Performance Materials Inc., WS Atkins plc, AGY Holdings Corp., Formosa Plastics Corporation, Plasan Carbon Composites, Strata Manufacturing. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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