Advanced Composites Market to Grow 10.89% CAGR by 2022
PUNE, India, October 5, 2017 /PRNewswire/ --
The advanced composites market will reach $38.41 billion by 2022 from $22.91 by 2017 at a CAGR of 10.89% between 2017 and 2022 driven by increasing use of advanced composites in the aerospace & defense, transportation, sporting goods, wind energy, and civil engineering end-use industries; while North America is the largest consumer of advanced composites in the world followed by Europe according to RnRMarketResearch.
Browse 85 Market Data Tables and 48 Figures spread through 180 Pages and in-depth TOC on "Advanced Composites Market - Global Forecast to 2022" http://www.rnrmarketresearch.com/advanced-composites-market-by-type-carbon-s-glass-aramid-by-manufacturing-process-by-resin-type-thermoplastics-and-thermosetting-by-application-aerospace-defense-automotive-wind-sporting-goods-pipe-tanks-construction-marine-a-market-report.html .
The aerospace & defense industry is projected to lead the advanced composites market during the forecast period in terms of both, volume and value. The growth of this industry segment of the advanced composites market can be attributed to increased use of advanced composites in aircraft structures. Advanced composites are used in various aircraft structures such as wings, fuselage, and aircraft interiors, among others as these can survive extreme operating conditions such as high stress, shocks, and impact loads. Thus, there is an increase in the demand for advanced composites for the manufacture of new generation aircraft such as Airbus A350 XWB and A320neo, and the Boeing 787 and 737 MAX.
The key players profiled in the advanced composites market are Solvay, Koninklijke Ten Cate bv, Huntsman Corporation LLC, Toray Industries Inc., Teijin Limited, Owens Corning, Hexcel Corporation, SGL Group, Weyerhaeuser, Chongqing Polycomp International Corporation and Jushi Group.
Make an Inquiry on Advanced Composites Market by Fiber Type (Carbon, S-Glass, Aramid), Resin Type (Thermosetting, Thermoplastic), Manufacturing Process (Filament Winding, Injection Molding, Pultrusion), End-use Industry, Region - Global Forecast to 2022 research report at http://www.rnrmarketresearch.com/contacts/inquire-before-buying?rname=401477 .
The Europe advanced composites market is projected to grow at the highest CAGR in terms of both, value and volume between 2017 and 2022. North America is the largest consumer of advanced composites in the world, followed by Europe. Both, Europe and North America are expected to be the most promising markets for advanced composites during the next five years. Mass production in the transportation and aerospace & defense industries with the use of advanced composites is a major factor that is expected to lead to the growth of the Europe and North America advanced composites markets. The US is the largest market in North America due to a high demand for advanced composites from the transportation and aerospace & defense industries.
The advanced composites are being used in various other applications such as medical, oil & gas, and energy & power, among others. These are being used to manufacture reactors, and healthcare equipment, among others. Among fiber types, the carbon fiber composites segment is projected to lead the advanced composites market during the forecast period in terms of both volume and value. Carbon fibers account for over 70% of the reinforcements used for the manufacture of advanced composites across the globe.
Inquire for Discount on "Advanced Composites Market - Global Forecast to 2022" research report at http://www.rnrmarketresearch.com/contacts/discount?rname=401477 .
In the process of determining and verifying the advanced composites market sizes gathered through secondary research for the composites market, its segments and subsegments, extensive primary interviews have been conducted. The breakdown of these primary interviews has been given as follows:-
- By Company Type: Tier 1 - 10%, Tier 2 - 25%, and Tier 3 - 65%.
- By Designation: C-level - 10%, Director Level - 30%,and Others - 60%
- By Region: North America - 20%, Europe - 15%, Asia-Pacific - 45%, South America - 11%
and the Middle East & Africa - 9%
This report covers the global advanced composites market and forecasts the market size till 2022. The report includes market segmentation on the basis of fiber type, resin type, end-use industry, manufacturing process, and region (North America, Europe, Asia Pacific, South America, and Middle East & Africa). The Porter's Five Force analysis, along with drivers, restraints, challenges, and opportunities of the market have been discussed in the report. The report also provides company profiles and competitive benchmarking adopted by the major players of the global advanced composites market.
Another research titled Epoxy Composite Market Global Forecast to 2021 says, the epoxy composite market is projected to reach $33.06 billion by 2021, at a CAGR of 7.34% between 2016 and 2021. Wind energy is expected to be the fastest-growing end-user industry segment of the epoxy composite market, in terms of value and volume. Asia-Pacific is expected to be the fastest-growing market for epoxy composite. Companies such as Cytec Solvay Group (Belgium), Royal TenCate N.V. (Netherlands), Teijin Limited (Japan), Toray Industries, INC. (Japan), Hexcel Corporation (U.S.), SGL Group (Germany), Gurit Holdings AG (Switzerland), Park Electrochemical Corporation (U.S.), Mitsubishi Rayon Co. Ltd. (Japan), Axiom Materials (California, U.S.), Kemrock Industries and Exports Limited (India), Sumitomo Bakelite Co. Ltd. (Japan), Myko Engineering (Israel), Rotec Composite Group B.V. (Netherlands), Barrday (Canada), Gordon Composites, Inc. (U.S.), Hindoostan Composite Solutions (India), ATL Composites (Australia), IDI Composites (U.S.), Isosport (Germany) have been profiled in this 164 pages research report available athttp://www.rnrmarketresearch.com/epoxy-composite-market-by-fiber-type-glass-carbon-manufacturing-process-lay-up-compression-molding-resin-injection-resin-transfer-molding-filament-winding-and-pultrusion-end-use-industry-and-region-gl-st-to-2021-market-report.html .
Explore more reports on Materials & Chemicals Market at http://www.rnrmarketresearch.com/reports/materials-chemicals .
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