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 at a CAGR of 8.2% in the forecast period of 2021 to 2028 and expected to reach USD 6,687.07 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.
Advanced composites are the mixtures of the several components which have high specific strength and stiffness and advanced composite material are combined with automatic manufacturing processes. Advanced composite materials (ACM) in comparison to the composite materials commonly used in reinforced concrete. The structures which are manufactured from the advanced composites have high strength and are light weight in nature.
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The major players covered in the report are TORAY INDUSTRIES, INC, TEIJIN LIMITED, Mitsubishi Chemical Holdings Corporation, Huntsman International LLC, Hexcel Corporation, Hexion, BASF SE, DuPont, Honeywell International Inc, Henkel AG & Co. KGaA, SGL Carbon, HYOSUNG CHEMICAL, Owens Corning, Formosa Plastics Corporation, RECAERO S.A.S., SMI Composites, LLC, 3A Composites Holding AG (A Subsidiary of Schweiter Technologies), STS Group AG, Plastic Omnium, LyondellBasell Industries Holdings B.V., Hanwha Solutions, Georg Fritzmeier GmbH & Co. KG, TERMA, among other players domestic and global. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Asia-Pacific Advanced Composites Market Scope and Market Size:
- 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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Advanced Composites Market Country Level Analysis:
The advanced composites market is analysed and market size information is provided by the country, type, resin, manufacturing process and end-user as referenced above.
The countries covered in Asia-Pacific advanced composites market report are Japan, China, South Korea, India, Singapore, Thailand, Indonesia, Malaysia, Philippines, Australia and New Zealand, Hong Kong, Taiwan and Rest of Asia-Pacific.
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