According to a new market report published by
Lucintel, the future of the global advanced composites market looks promising
with opportunities in various end use industries such as aerospace & defense,
wind energy, transportation, marine, construction, electrical/electronics, consumer
goods, and pressure vessels. The global advanced composites material market is
expected to reach an estimated $5.2 billion by 2022 and it is forecast to grow
at a CAGR of 8.0% from 2017 to 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.
In this market, carbon fiber, S-glass fiber,
and aramid fiber are the major fiber used to manufacture advanced composites
parts for various end use industries such as aerospace & defense,
transportation, wind energy and consumer goods. On the basis of our comprehensive
research, Lucintel forecasts that the transportation is expected to show above
average growth during the forecast period. 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. For a detailed table of contents,
contact Lucintel at +1-972-636-5056 or email us at helpdesk@lucintel.com. Lucintel offerings include Advanced Materials Reports, Composite Materials Market Report, Opportunity Screening and Analysis, Capital Investment Feasibility and SWOT
Analysis.
About
Lucintel
Lucintel,
the premier global management consulting and market research firm, creates
winning strategies for growth. It offers market assessments, competitive
analysis, opportunity analysis, growth consulting, M&A, and due diligence
services to executives and key decision-makers in a variety of industries. For
further information, visit www.lucintel.com.
This
report answers following 11 key questions:
Q. 1 What
are some of the most promising, high-growth opportunities for the global
advanced composites market by end use industries (Aerospace
& Defense, Wind Energy, Automotive, Marine, Construction, Electrical/electronics,
Consumer Goods, Pressure Vessels, and Others), fiber type (Carbon Composites, S-Glass Composites
and Aramid Composites), resin
type (Epoxy Composites, Phenolic Composites, Vinyl ester Composites,
Cyanate and BMI Composites, Thermoplastic Composites), and region (North America, Europe, Asia Pacific, and
the Rest of the World)?
Q. 2. Which
segments will grow at a faster pace and why?
Q. 3. Which
region will grow at a faster pace and why?
Q.4 What
are the key factors affecting market dynamics? What are the drivers, challenges
and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What
are the emerging trends in this market and reasons behind them?
Q.7. What
are some of the changing demands of customers in the market?
Q.8. What
are the new developments in the market? Which companies are leading these
developments?
Q.9. Who
are the major players in this market? What strategic initiatives are key
players pursuing for business growth?
Q.10. What
are some of the competing products in this market and how big of a threat do
they pose for loss of market share by material / product substitution?
Q.11. What M & A activities have occurred in the
last 5 years in this market?
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