Advanced Composite Market, Till 2035: Distribution by Type of Product, Type of Resin, Type of Manufacturing Process, Type of Application, Type of Distribution Channel and Geographical Regions: Industry Trends and Global Forecasts

The global advanced composite market size is estimated to grow from USD 38.58 billion in the current year to USD 100.7 billion by 2035, at a CAGR of 9.12% during the forecast period, till 2035.

ADVANCED COMPOSITE MARKET: GROWTH AND TRENDS

Advanced composites are specialized materials created by merging two or more base materials that possess notably different physical or chemical characteristics. These materials are known for their superior strength-to-weight ratio, resistance to corrosion, versatility in design, and capability to be customized for particular uses. Composites are utilized across a variety of industries, including aerospace, automotive, construction, renewable energy, and others due to their wide-ranging attributes.

The advanced composite market worldwide is expected to experience considerable growth during the forecast period, driven by the swift industrial development in emerging markets such as China and India, which is further boosting global composite sales. Moreover, innovations in composite materials and advancements in manufacturing methods, such as additive manufacturing and automated fiber placement, facilitate the creation of complex composite structures with minimized waste and improved efficiency. In addition, rising environmental concerns about wastewater risks have prompted regulatory authorities in various countries to require the use of bio-based composite materials in different sectors.

ADVANCED COMPOSITE MARKET: KEY SEGMENTS

Market Share by Type of Product

Based on type of product, the global advanced composite market is segmented into aramid fiber composites, carbon fiber composites and glass fiber composites. According to our estimates, currently, carbon fiber segment captures the majority share of the market. Additionally, this segment is likely to experience the highest CAGR during the forecast period. This is attributed to its distinctive combination of lightweight properties, strength, and versatility, which makes it valuable in major industries such as aerospace, defense, and automotive.

Market Share by Type of Resin

Based on type of resin, the advanced composite market is segmented into advanced thermoplastic composites and advanced thermosetting composites. According to our estimates, currently, advanced thermosetting composites segment captures the majority of the market, owing to their lightweight characteristics, high strength, and durability, which makes them useful in sectors like aerospace and automotive.

However, advanced thermoplastic composites segment is expected to experience the highest compound annual growth rate (CAGR) during the forecast period. This is attributed to their recyclability and quick processing times, making them perfect for applications requiring both durability and efficiency, and their widespread use in multiple industries, such as automotive, aerospace, and construction, is a significant driver of demand for thermoplastic composites.

Market Share by Type of Manufacturing Process

Based on type of manufacturing process, the advanced composite market is segmented into compression molding, automated tape laying (ATL) and automated fiber placement (AFP), filament winding, hand layup/spray layup, injection molding, pultrusion, resin transfer molding (RTM) and others. According to our estimates, currently, automated tape laying (ATL) and automated fiber placement (AFP) segment captures the majority share of the market.

Further, the injection molding process is anticipated to demonstrate the highest compound annual growth rate (CAGR) during the forecast period. This growth can be attributed to its capability to accurately position continuous fibers onto complex molds, leading to lightweight and robust components that offer improved structural integrity and minimized material waste.

Market Share by Type of Application

Based on type of application, the advanced composite market is segmented into aerospace & defense, automotive, sporting goods and wind energy. According to our estimates, currently, aerospace & defense segment captures the majority share of the market. This is likely due to the rising need for lightweight materials that improve fuel efficiency and performance in the production of aircraft.

However, the wind energy segment is expected to experience higher growth rate during the forecast period, owing to the increasing utilization of advanced composites in the production of wind turbines and the expansion of wind farms around the world.

Market Share by Type of Distribution Channel

Based on type of distribution channel, the advanced composite market is segmented into direct sales, distributors and retailers. According to our estimates, currently, distributors segment captures the majority share of the market. This can be attributed to their capability to manage significant volumes of advanced composites and offer broad accessibility across diverse markets, alongside the rising industrial demand for effective supply chain solutions..

Market Share by Geographical Regions

Based on geographical regions, the advanced composite market is segmented into North America, Europe, Asia, Latin America, Middle East and North Africa, and the rest of the world. According to our estimates, currently, North America captures the majority share of the market. This can be attributed to various factors including the growing demand for composites in industries such as automotive, aerospace, and defense.

On the other hand, market in Asia is expected to experience a relatively higher CAGR during the forecast period, driven by the increasing demand in the aerospace, automotive, and wind turbine sectors, particularly in developing nations like India, China, and Japan.

ADVANCED COMPOSITE MARKET: RESEARCH COVERAGE

The report on the advanced composite market features insights on various sections, including:

• Market Sizing and Opportunity Analysis: An in-depth analysis of the advanced composite market, focusing on key market segments, including [A] type of product, [B] type of resin, [C] type of manufacturing process, [D] type of application, [E] type of distribution channel and [F] geographical regions.
• Competitive Landscape: A comprehensive analysis of the companies engaged in the advanced composite market, based on several relevant parameters, such as [A] year of establishment, [B] company size, [C] location of headquarters and [D] ownership structure.
• Company Profiles: Elaborate profiles of prominent players engaged in the advanced composite market, providing details on [A] location of headquarters, [B] company size, [C] company mission, [D] company footprint, [E] management team, [F] contact details, [G] financial information, [H] operating business segments, [I] service / product portfolio, [J] moat analysis, [K] recent developments, and an informed future outlook.
• Megatrends: An evaluation of ongoing megatrends in the advanced composite industry.
• Patent Analysis: An insightful analysis of patents filed / granted in the advanced composite domain, based on relevant parameters, including [A] type of patent, [B] patent publication year, [C] patent age and [D] leading players.
• Porter’s Five Forces Analysis: An analysis of five competitive forces prevailing in the advanced composite market, including threats of new entrants, bargaining power of buyers, bargaining power of suppliers, threats of substitute products and rivalry among existing competitors.
• SWOT Analysis: An insightful SWOT framework, highlighting the strengths, weaknesses, opportunities and threats in the domain. Additionally, it provides Harvey ball analysis, highlighting the relative impact of each SWOT parameter.

KEY QUESTIONS ANSWERED IN THIS REPORT

• How many companies are currently engaged in advanced composite market?
• Which are the leading companies in this market?
• What factors are likely to influence the evolution of this market?
• What is the current and future market size?
• What is the CAGR of this market?
• How is the current and future market opportunity likely to be distributed across key market segments?

REASONS TO BUY THIS REPORT

• The report provides a comprehensive market analysis, offering detailed revenue projections of the overall market and its specific sub-segments. This information is valuable to both established market leaders and emerging entrants.
• Stakeholders can leverage the report to gain a deeper understanding of the competitive dynamics within the market. By analyzing the competitive landscape, businesses can make informed decisions to optimize their market positioning and develop effective go-to-market strategies.
• The report offers stakeholders a comprehensive overview of the market, including key drivers, barriers, opportunities, and challenges. This information empowers stakeholders to stay abreast of market trends and make data-driven decisions to capitalize on growth prospects.

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