Opportunities in the Advanced Composites Market: Growth Trends, Forecast and Competitive Analysis

Trends, opportunities, and forecast in advance composites market to 2026 by application (aerospace and defense, wind energy, automotive, marine, construction, consumer goods, pressure vessels, and others), fiber type (carbon composites, s-glass composites and aramid composites), resin type (epoxy composites, phenolic composites, vinyl ester composites, cyanate and BMI composites, thermoplastic composites), and region (North America, Europe, Asia Pacific, and the Rest of the World)

The future of the advance composites market looks promising with opportunities in aerospace and defense, wind energy, transportation, marine, construction, consumer goods, and pressure vessels applications. The global advance composites market declined in 2020 due to the global economic recession led by COVID-19. However, the market will witness recovery in the year 2021, and it is expected to reach an estimated $9.5 billion by 2026 with a CAGR of 5.4% from 2021 to 2026. The major drivers of growth for this market are increasing demand of lightweight materials in the aerospace & defense and automotive industry.

Emerging trend, which has a direct impact on the dynamics of the industry, includes r&d projects across supply chain to bring carbon fiber from high end to high volume applications via low-cost carbon fiber, advancements in the production technologies of carbon composites, and recycling of advanced composites.

The study includes trends and forecast for the global advance composites market by application, by fiber type, by resin type, and region as follows:

By Application [Volume (M lbs) and $M shipment analysis from 2015 to 2026]:
• Aerospace and Defense
• Wind Energy
• Transportation
• Marine
• Construction
• Consumer Goods
• Pressure Vessels
• Others

By Fiber Type [Volume (M lbs) and $M shipment analysis from 2015 to 2026]:
• Carbon Composites
• S-Glass Composites
• Aramid Composites

By Resin Type [Volume (M lbs) and $M shipment analysis from 2015 to 2026]:
• Epoxy Composites
• Phenolic Composites
• Vinyl Ester Composites
• Cynate and BMI Composites
• Thermoplastic Composites

By Region [Volume (M lbs) and $M shipment analysis from 2015 to 2026]:
• North America
• Europe
• Asia Pacific
• Rest of the world
In this market, carbon composites, S-glass composites, and aramid composites are the major fiber used to manufacture advanced composites parts for various end use industries. The analyst forecasts that carbon composites will remain the largest segment due to its beneficial qualities of being lightweight while offering corrosion resistance and high tensile strength. The S-glass composites segment is expected to witness highest growth over the forecast period.

Within the global advance composites market, aerospace and defense is expected to be to remain the largest application over the forecast period by value and volume due to the increase penetration of composites in next generation commercial aircraft, like Boeing’s B787 and Airbus 380, regional aircraft such as Bombardier’s C Series, and general aviation aircraft such as Cirrus and Diamond. The pressure vessels is expected to witness highest growth over the forecast period.

Europe is expected to remain the largest market by value over the forecast period due to the growth in end-use industries and steady adoption of advanced composites in wind energy for wind blades. Europe is expected to witness the highest growth over the forecast period.

Some of the global advance composites manufacturers profiled in this report include are Toray Industries., Cytec Solvay, Owens Corning, AGY, and DuPont.

Features of the Global Advance Composites Market

• Market Size Estimates: Global advance composites market size estimation in terms of value ($M) and volume (M lbs) shipment
• Trend and Forecast Analysis: Global advance composites market trends (2015-2020) and forecast (2021-2026) by various segments and regions.
• Segmentation Analysis: Global advance composites market size by various segments, such as by application, by fiber type, by resin type, and regions in terms of value and volume.
• Regional Analysis: Global advance composites market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
• Growth Opportunities: Analysis on growth opportunities in different by application, by fiber type, by resin type, and regions for the global advance composites market.
• Strategic Analysis: This includes M&A, new product development, capacity expansion, merger and acquisition, and competitive landscape for the global advance composites market.
• Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

This report answers following 11 key questions

Q.1 What are some of the most promising potential, high-growth opportunities for the global advance composites market by application (aerospace and defense, wind energy, automotive, marine, construction, consumer goods, pressure vessels, and others), fiber type (carbon composites, s-glass composites and aramid composites), resin type (epoxy composites, phenolic composites, vinyl ester composites, cyanate and BMI composites, thermoplastic composites), and region (North America, Europe, Asia Pacific, and Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the global advance composites market?
Q.5 What are the business risks and threats to the global advance composites market?
Q.6 What are emerging trends in this global advance composites market and the reasons behind them?
Q.7 What are some changing demands of customers in the global advance composites market?
Q.8 What are the new developments in the global advance composites market? Which companies are leading these developments?
Q.9 Who are the major players in the global advance composites market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in the global advance composites market, and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11 What M&A activities did take place in the last five years in the global advance composites market?