Global advanced polymer composites market is expected to reach USD 16.83 Billion by 2025, at a CAGR of 7.64% from 2018 to 2025. The market is being propelled by the growing demand for advanced polymer composites from the aerospace and automotive industry.
A composite material can be defined as the material made from two or more constituent materials with significantly different physical or chemical properties that, when combined, produce a material with characteristics different from the constituent components. Advanced polymer composites exhibit superior properties such as high strength, stiffness, excellent fatigue, and abrasion resistance. Advanced polymer composites are widely utilized in the manufacturing of high-performance aircraft parts such as engine nacelles, wings, elaborators, floor beams, ailerons, rudders, landing gear doors and other components on account of its outstanding strength to weight ratio.
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- The base year for the study has been considered 2017, the historic year 2015 and 2016 and, the forecast period considered is from 2018 to 2025. The global advanced polymer composites market is analyzed by value (USD Million) and volume (Kilotons)
- The study delivers a comprehensive analysis of global advanced polymer composites market by product, application, and regions. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The report emphasizes on all the key trends that play a vital role in the enlargement of the market from 2018 to 2025.
- Porter’s Five Forces model is used to recognize the competitive scenario in the global advanced polymer composites market. This report incorporates the industry analysis which is focused on providing an extensive view of the advanced polymer composites market.
- The study also includes attractiveness analysis of product, application, and regions which are benchmarked based on their market size, growth rate and attractiveness in terms of present and future opportunity for understanding the future growth of the market.
- The report provides company profile of the key players operating in the advanced polymer composites market and a comparative analysis based on their business overviews, product offering, segment market share, regional presence, business strategies, innovations, mergers & acquisitions, recent developments, joint venture, collaborations, partnerships, SWOT analysis, and key financial information.
- The market estimates have been evaluated by considering the effect of different political, economic, social, technological and legal factors which are based on our extensive secondary research, primary research, and in-house databases.
- Growing demand from the aerospace sector
- Increase in number of windmill installations
- The high cost of production
- Increasing demand for lightweight and fuel-efficient cars
- The emergence of electric cars
- Complex production process
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Regional Segmentation Analysis:
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa.Existence of well-developed aerospace and automotive manufacturingindustry as well as rising focus on wind energy generation led North America region to emerge as the global leader in the advanced polymer composites market with USD 3.42 billion revenue in 2017. Flourishing demand for the automobiles and swiftgrowth of aviation industry in the region are anticipated to propel Asia Pacific region to grow at a CAGR of 9.97% over the forecast period.
Major players in the global advanced polymer composites market are Arkema S.A., BASF SE, Owens, Corning Corporation, Cristex Ltd, 3B-Fibreglass sprl, SGL Carbon SE, Solvay S.A., Kemrock Industries, Mitsubishi Rayon Co. Ltd., TPI Composites Inc., Toray Industries Inc., Koninklijke Ten Cate N.V., Hexcel Corporation, Cytec Industries Inc. among others.
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