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Advanced Composites Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The global advanced composites market is expected to exhibit a CAGR of 10.4% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

Advanced composites are high-performance materials that possess superior mechanical resistance along with strength and stiffness. These composites are light in weight and have excellent dimensional stability, and thermal and electrical conductivity. Advanced composites are widely employed across verticals like aerospace, automobile, construction, sports and military. As these composites are used for manufacturing blades for wind turbines, an increase in the number of wind power stations around the world has also propelled the sales of advanced composites.

 
 

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Global Advanced Composites Market Drivers:

In the aerospace industry, reducing the weight of an aircraft is essential for enhancing its performance and fuel efficiency. As advanced composites are highly durable, have low density and are resistant to chemical corrosion, they are rapidly substituting traditionally used metals for manufacturing aeronautical and aircraft components such as rudders, wings, elaborators, floor beams, landing gear and engine nacelles. These composites are also replacing alloys and metals in the automotive sector. This, coupled with the rising demand for high-performance luxury vehicles, is boosting the growth of the market across the globe. Further, advanced polymer composites, such as HexPly and HexMC, are now being utilized in the production of sports equipment like snowboards, golf shafts, tennis racquets and surfboard fins. Inflating disposable incomes and a rising number of sports enthusiasts are creating strong demand for good quality sports equipment, thereby providing a thrust to the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global advanced composites market, along with forecasts at the global and regional level from 2022-2027. Our report has categorized the market based on resin type, type of fiber, manufacturing process and application.

Breakup by Resin Type:

  • Advanced Thermosetting Composites
  • Advanced Thermoplastic Composites


Breakup by Type of Fiber:

  • Glass
  • Carbon
  • Aramid


Glass currently represents the biggest segment

Breakup by Manufacturing Process:

 

 
 

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  • Hand Layup/Spray Layup
  • AFP and ATL
  • Filament Winding
  • Injection Molding
  • Pultrusion
  • Compression Molding
  • RTM/VARTM
  • Others


Breakup by Application:

  • Aerospace and Aviation
  • Automotive
  • Energy
  • Electronics
  • Marine
  • Others


The aerospace and aviation sector currently represents the largest application area.

Regional Insights:

 

 
 

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  • North America
  • Europe
  • Asia Pacific
  • Middle East and Africa
  • Latin America


North America currently represents the largest market

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being Arkema S.A., BASF SE, Hexcel Corporation, Cytec Industries Inc., Koninklijke Ten Cate N.V., TPI Composites Inc., Toray Industries Inc., Mitsubishi Rayon Co. Ltd, Teijin Limited., Hexion, SGL Carbon SE, 3B-Fibreglass sprl, Owens Corning Corporation, Huntsman International, LLC, Solvay S.A., Kemrock Industries and Exports Limited, E. I. Du Pont Nemours & Co., and Cristex Ltd, etc.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Resin Type, Type of Fiber, Manufacturing Process, Application, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Companies Covered Arkema S.A., BASF SE, Hexcel Corporation, Cytec Industries Inc., Koninklijke Ten Cate N.V., TPI Composites Inc., Toray Industries Inc., Mitsubishi Rayon Co. Ltd, Teijin Limited., Hexion, SGL Carbon SE, 3B-Fibreglass sprl, Owens Corning Corporation, Huntsman International, LLC, Solvay S.A., Kemrock Industries and Exports Limited, E. I. Du Pont Nemours & Co. and Cristex Ltd.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

1    Preface
2    Scope and Methodology

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction

    4.1    Overview
    4.2    Key Industry Trends
5    Global Advanced Composites Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Breakup by Resin Type
    5.5    Market Breakup by Type of Fiber
    5.6    Market Breakup by Manufacturing Process
    5.7    Market Breakup by Application
    5.8    Market Breakup by Region
    5.9    Market Forecast
6    Market Breakup by Resin Type
    6.1    Advanced Thermosetting Composites
        6.1.1    Market Trends
        6.1.2    Market Forecast
    6.2    Advanced Thermoplastic Composites
        6.2.1    Market Trends
        6.2.2    Market Forecast
7    Market Breakup by Type of Fiber
    7.1    Glass
        7.1.1    Market Trends
        7.1.2    Market Forecast
    7.2    Carbon
        7.2.1    Market Trends
        7.2.2    Market Forecast
    7.3    Aramid
        7.3.1    Market Trends
        7.3.2    Market Forecast
8    Market Breakup by Manufacturing Process
    8.1    Hand Layup/Spray Layup
        8.1.1    Market Trends
        8.1.2    Market Forecast
    8.2    AFP and ATL
        8.2.1    Market Trends
        8.2.2    Market Forecast
    8.3    Filament Winding
        8.3.1    Market Trends
        8.3.2    Market Forecast
    8.4    Injection Molding
        8.4.1    Market Trends
        8.4.2    Market Forecast
    8.5    Pultrusion
        8.5.1    Market Trends
        8.5.2    Market Forecast
    8.6    Compression Molding
        8.6.1    Market Trends
        8.6.2    Market Forecast
    8.7    RTM/VARTM
        8.7.1    Market Trends
        8.7.2    Market Forecast
    8.8    Others
        8.8.1    Market Trends
        8.8.2    Market Forecast
9    Market Breakup by Application
    9.1    Aerospace and Aviation
        9.1.1    Market Trends
        9.1.2    Market Forecast
    9.2    Automotive
        9.2.1    Market Trends
        9.2.2    Market Forecast
    9.3    Energy
        9.3.1    Market Trends
        9.3.2    Market Forecast
    9.4    Electronics
        9.4.1    Market Trends
        9.4.2    Market Forecast
    9.5    Marine
        9.5.1    Market Trends
        9.5.2    Market Forecast
    9.6    Others
        9.6.1    Market Trends
        9.6.2    Market Forecast
10    Market Breakup by Region
    10.1    North America
        10.1.1    Market Trends
        10.1.2    Market Forecast
    10.2    Europe
        10.2.1    Market Trends
        10.2.2    Market Forecast
    10.3    Asia Pacific
        10.3.1    Market Trends
        10.3.2    Market Forecast
    10.4    Middle East and Africa
        10.4.1    Market Trends
        10.4.2    Market Forecast
    10.5    Latin America
        10.5.1    Market Trends
        10.5.2    Market Forecast
11    SWOT Analysis
    11.1    Overview
    11.2    Strengths
    11.3    Weaknesses
    11.4    Opportunities
    11.5    Threats
12    Value Chain Analysis
13    Porters Five Forces Analysis

    13.1    Overview
    13.2    Bargaining Power of Buyers
    13.3    Bargaining Power of Suppliers
    13.4    Degree of Competition
    13.5    Threat of New Entrants
    13.6    Threat of Substitutes
14    Price Analysis
    14.1    Price Indicators
    14.2    Price Structure
    14.3    Margin Analysis
15    Competitive Landscape
    15.1    Market Structure
    15.2    Key Players
    15.3    Profiles of Key Players
        15.3.1    Arkema S.A.
        15.3.2    BASF SE
        15.3.3    Hexcel Corporation
        15.3.4    Cytec Industries Inc.
        15.3.5    Koninklijke Ten Cate N.V.
        15.3.6    TPI Composites Inc.
        15.3.7    Toray Industries Inc.
        15.3.8    Mitsubishi Rayon Co. Ltd
        15.3.9    Teijin Limited. 
        15.3.10      Hexion 
        15.3.11     SGL Carbon SE
        15.3.12     3B-Fibreglass sprl
        15.3.13     Owens Corning Corporation
        15.3.14     Huntsman International, LLC
        15.3.15     Solvay S.A.
        15.3.16     Kemrock Industries and Exports Limited
        15.3.17     E. I. Du Pont Nemours & Co.
        15.3.18     Cristex Ltd

List of Figures

Figure 1: Global: Advanced Composites Market: Major Drivers and Challenges
Figure 2: Global: Advanced Composites Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Advanced Composites Market: Breakup by Resin Type (in %), 2021
Figure 4: Global: Advanced Composites Market: Breakup by Type of Fiber (in %), 2021
Figure 5: Global: Advanced Composites Market: Breakup by Manufacturing Process (in %), 2021
Figure 6: Global: Advanced Composites Market: Breakup by Application (in %), 2021
Figure 7: Global: Advanced Composites Market: Breakup by Region (in %), 2021
Figure 8: Global: Advanced Composites Industry: SWOT Analysis
Figure 9: Global: Advanced Composites Industry: Value Chain Analysis
Figure 10: Global: Advanced Composites Industry: Porter’s Five Forces Analysis
Figure 11: Advanced Composites Manufacturing: Process Flow
Figure 12: Global: Advanced Composites Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 13: Global: Advanced Composites (Advanced Thermosetting Composites) Market: Sales Value (in Million US$), 2016 & 2021
Figure 14: Global: Advanced Composites (Advanced Thermosetting Composites) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 15: Global: Advanced Composites (Advanced Thermoplastic Composites) Market: Sales Value (in Million US$), 2016 & 2021
Figure 16: Global: Advanced Composites (Advanced Thermoplastic Composites) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 17: Global: Advanced Composites (Glass) Market: Sales Value (in Million US$), 2016 & 2021
Figure 18: Global: Advanced Composites (Glass) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 19: Global: Advanced Composites (Carbon) Market: Sales Value (in Million US$), 2016 & 2021
Figure 20: Global: Advanced Composites (Carbon) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 21: Global: Advanced Composites (Aramid) Market: Sales Value (in Million US$), 2016 & 2021
Figure 22: Global: Advanced Composites (Aramid) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 23: Global: Advanced Composites (Hand Layup/Spray Layup) Market: Sales Value (in Million US$), 2016 & 2021
Figure 24: Global: Advanced Composites (Hand Layup/Spray Layup) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 25: Global: Advanced Composites (AFP and ATL) Market: Sales Value (in Million US$), 2016 & 2021
Figure 26: Global: Advanced Composites (AFP and ATL) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 27: Global: Advanced Composites (Filament Winding) Market: Sales Value (in Million US$), 2016 & 2021
Figure 28: Global: Advanced Composites (Filament Winding) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 29: Global: Advanced Composites (Injection Molding) Market: Sales Value (in Million US$), 2016 & 2021
Figure 30: Global: Advanced Composites (Injection Molding) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 31: Global: Advanced Composites (Pultrusion) Market: Sales Value (in Million US$), 2016 & 2021
Figure 32: Global: Advanced Composites (Pultrusion) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 33: Global: Advanced Composites (Compression Molding) Market: Sales Value (in Million US$), 2016 & 2021
Figure 34: Global: Advanced Composites (Compression Molding) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 35: Global: Advanced Composites (RTM/VARTM) Market: Sales Value (in Million US$), 2016 & 2021
Figure 36: Global: Advanced Composites (RTM/VARTM) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 37: Global: Advanced Composites (Others) Market: Sales Value (in Million US$), 2016 & 2021
Figure 38: Global: Advanced Composites (Others) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 39: Global: Advanced Composites (Aerospace and Aviation) Market: Sales Value (in Million US$), 2016 & 2021
Figure 40: Global: Advanced Composites (Aerospace and Aviation) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 41: Global: Advanced Composites (Automotive) Market: Sales Value (in Million US$), 2016 & 2021
Figure 42: Global: Advanced Composites (Automotive) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 43: Global: Advanced Composites (Energy) Market: Sales Value (in Million US$), 2016 & 2021
Figure 44: Global: Advanced Composites (Energy) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 45: Global: Advanced Composites (Electronics) Market: Sales Value (in Million US$), 2016 & 2021
Figure 46: Global: Advanced Composites (Electronics) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 47: Global: Advanced Composites (Marine) Market: Sales Value (in Million US$), 2016 & 2021
Figure 48: Global: Advanced Composites (Marine) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 49: Global: Advanced Composites (Others) Market: Sales Value (in Million US$), 2016 & 2021
Figure 50: Global: Advanced Composites (Others) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 51: North America: Advanced Composites Market: Sales Value (in Million US$), 2016 & 2021
Figure 52: North America: Advanced Composites Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 53: Europe: Advanced Composites Market: Sales Value (in Million US$), 2016 & 2021
Figure 54: Europe: Advanced Composites Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 55: Asia Pacific: Advanced Composites Market: Sales Value (in Million US$), 2016 & 2021
Figure 56: Asia Pacific: Advanced Composites Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 57: Middle East and Africa: Advanced Composites Market: Sales Value (in Million US$), 2016 & 2021
Figure 58: Middle East and Africa: Advanced Composites Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 59: Latin America: Advanced Composites Market: Sales Value (in Million US$), 2016 & 2021
Figure 60: Latin America: Advanced Composites Market Forecast: Sales Value (in Million US$), 2022-2027

List of Tables

Table 1: Global: Advanced Composites Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Advanced Composites Market Forecast: Breakup by Resin Type (in Million US$), 2022-2027
Table 3: Global: Advanced Composites Market Forecast: Breakup by Type of Fiber (in Million US$), 2022-2027
Table 4: Global: Advanced Composites Market Forecast: Breakup by Manufacturing Process (in Million US$), 2022-2027
Table 5: Global: Advanced Composites Market Forecast: Breakup by Application (in Million US$), 2022-2027
Table 6: Global: Advanced Composites Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 7: Global: Advanced Composites Market Structure
Table 8: Global: Advanced Composites Market: Key Players

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Key Questions Answered in This Report

We expect the global advanced composites market to exhibit a CAGR of 10.4% during 2022-2027.

The growing utilization of advanced composites in manufacturing light-weight aircraft, for enhancing
its performance and fuel efficiency, is primarily driving the global advanced composites market.

The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent
lockdown regulations across several nations resulting in temporary shutdown of various end-use
industries for advanced composites.

Based on the resin type, the global advanced composites market has been divided into advanced
thermosetting composites and advanced thermoplastic composites. Currently, advanced
thermosetting composites exhibit a clear dominance in the market.

Based on the type of fiber, the global advanced composites market can be categorized into glass,
carbon, and aramid. Among these, glass holds the majority of the total market share.

Based on the manufacturing process, the global advanced composites market has been segmented
into hand layup/spray layup, AFP and ATL, filament winding, injection molding, pultrusion,
compression molding, RTM/VARTM, and others. Currently, hand layup/spray layup process
represents the largest market share.

Based on the application, the global advanced composites market can be bifurcated into aerospace
and aviation, automotive, energy, electronics, marine, and others. Among these, the aerospace and
aviation sector accounts for the majority of the total market share.

On a regional level, the market has been classified into North America, Europe, Asia Pacific, Middle
East and Africa, and Latin America, where North America currently dominates the global market.

Some of the major players in the global advanced composites market include Arkema S.A., BASF SE,
Hexcel Corporation, Cytec Industries Inc., Koninklijke Ten Cate N.V., TPI Composites Inc., Toray
Industries Inc.., Mitsubishi Rayon Co. Ltd, Teijin Limited., Hexion, SGL Carbon SE, 3B-Fibreglass sprl,
Owens Corning Corporation, Huntsman International, LLC, Solvay S.A., Kemrock Industries and
Exports Limited, E. I. Du Pont Nemours, & Co., Cristex Ltd, etc.

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