The advanced composites market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with a CAGR of 7.0% in the forecast period of 2021 to 2028 and expected to reach USD 10,194.13 million by 2028. An escalation in demand for lightweight and exceedingly durable materials in the aerospace and automotive industries is the factor growing the demand for advanced composites market in the forecast period.
The growing demand for intricate and compact designs, ever-increasing material requirements and cost constraints might even push the requirement of advanced composites material even further and thereby invariably driving the advanced composites market growth. The climate change and its associated stress on eco-friendly lifestyles and production rules could restrain the growth of the advanced composites market. The renewable energy is the need of the hour and the development in the market would be a good opportunity for the advanced composites market to achieve its true potential as the composites are required to manufacture and produce the gadgets or equipment necessary to generate and store the carbon-neutral energy. The hardship experienced in recycling is a challenge for the advanced composites market as the fact results in some restriction being exerted by government which could stun the growth of the advanced composites market.
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Market Analysis and Insights
The advanced composites market is segmented into four notable segments which are based on the type, resin, manufacturing process and end-user. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of type, the advanced composites market is segmented into carbon fiber composites, S-glass composites, aramid fiber composites and others. In 2021, the carbon fiber composites segment is dominating as carbon fiber composites has great strength and high resistance with helps to increasing demand in automotive structure products
- On the basis of resin, the advanced composites market is segmented into advanced thermoplastic and advanced thermosetting. In 2021, the advanced thermoplastic segment is dominating as in Europe, due to increasing demand for the carbon fiber which have high strength and high resistance to cracking which increases its demand in the manufacturing of the automotive structure products.
- On the basis of manufacturing process, the advanced composites market is segmented into automated tape laying (ATL) and automated fiber placement (AFP), hand layup/spray layup, compression molding, resin transfer molding (RTM), injection molding, filament winding and others. In 2021, the automated tape laying (ATL) and automated fiber placement (AFP) segment is dominating due to its manufacturing process has helps to increasing for the impregnated of plastics and fibers to make the composites material.
- On the basis of end-user, the advanced composites market is segmented into aerospace and defense, energy and power, automotive, sports equipment, civil engineering, electrical and electronics, healthcare and others. In 2021, the aerospace and defense segment is dominating as the increasing demand of security jet planes and fighter planes makes aerospace and defense to dominate.
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Europe Advanced Composites Market Scope
The advanced composites market is segmented into four notable segments which are based on the type, resin, manufacturing process and end-user. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of type, the advanced composites market is segmented into carbon fiber composites, S-glass composites, aramid fiber composites and others. In 2021, the carbon fiber composites segment is dominating as carbon fiber composites has great strength and high resistance with helps to increasing demand in automotive structure products.
- On the basis of resin, the advanced composites market is segmented into advanced thermoplastic and advanced thermosetting. In 2021, the advanced thermoplastic segment is dominating as in Europe, due to increasing demand for the carbon fiber which have high strength and high resistance to cracking which increases its demand in the manufacturing of the automotive structure products.
Competitive Landscape and Europe Advanced Composites Market Share Analysis
The advanced composites market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to advanced composites market.
The major players covered in the silicon nitride market report are
TEIJIN LIMITED, Mitsubishi Chemical Holdings Corporation, Koninklijke Ten Cate bv., Huntsman International LLC, Solvay, Hexcel Corporation, Hexion, BASF SE, DuPont, Honeywell International Inc., Henkel AG & Co. KGaA, SGL Carbon, HYOSUNG CHEMICAL, Owens Corning, Formosa Plastics Corporation, Strata Manufacturing PJSC, Renegade Materials Corporation, Advanced Composites Inc, Airborne, among other and domestic players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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