IRVING, Texas, April 19, 2017 (GLOBE NEWSWIRE) -- According to a new market report published by Lucintel, the future of the global advanced composites market looks promising with opportunities in various end use industries such as aerospace & defense, wind energy, transportation, marine, construction, electrical/electronics, consumer goods, and pressure vessels. The global advanced composites material market is expected to reach an estimated $5.2 billion by 2022 and it is forecast to grow at a CAGR of 8.0% from 2017 to 2022. The global advanced composites end product market is expected to reach an estimated $17.1 billion by 2022. The major drivers of growth for this market are increasing demand of lightweight materials in the aerospace & defense and automotive industry.
Browse 140 market data tables and 198 figures spread through 249 pages and in-depth TOC on “Global Advanced Composites Market"
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In this market, carbon fiber, S-glass fiber, and aramid fiber are the major fiber used to manufacture advanced composites parts for various end use industries such as aerospace & defense, transportation, wind energy and consumer goods. On the basis of our comprehensive research, Lucintel forecasts that the transportation industry is expected to show above average growth during the forecast period. Growing demand for lightweight materials in the automotive industry is expected to spur growth for this segment over the forecast period.
Within the global advanced composites market, aerospace & defense application is expected to remain the largest market by volume and value consumption. The major driver for this segment is the increased 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.
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By resin type, epoxy, phenolic, and vinyl ester are the major resin used to manufacture advanced composite parts. Epoxy resin composites are expected to be the largest market by value and volume. North America is expected to remain the largest market by value and volume and is also expected to experience the highest growth over the forecast period because of growth in end-use industries and the increasing demand for lightweight materials in the aerospace and automotive industries.
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Emerging trends, which have a direct impact on the dynamics of the industry, include increased demand for carbon fiber which has high tensile strength, modulus, and compatibility with different resins. Toray, Teijin, Mitsubishi Rayon, Hexcel, Dupont, Hexion, Huntsman, and Olin Epoxy are the major advanced composite manufacturers in the global advanced composites market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global advanced composites market by end use industry, fiber type, resin type and region. Lucintel has prepared a comprehensive research report entitled “Growth Opportunities in the Global Advanced Composites Market 2017-2022: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides a comprehensive data and analysis on trends, key drivers, and directions.
The study includes a forecast for the global advanced composites market by end use industries, fiber type, resin type, and region, as follows:
Advanced composites market by end use industries ($ Million and Million Pounds from 2011 to 2022)
- Aerospace & Defense
- Wind Energy
- Automotive
- Marine
- Construction
- E&E
- Consumer Goods
- Pressure Vessels
- Others
Advanced composites market by Fiber Type ($ Million and Million Pounds from 2011 to 2022)
- Carbon Composites
- S-Glass Composites
- Aramid Composites
Advanced composites market by Resin Type ($ Million and Million Pounds from 2011 to 2022)
- Epoxy Composites
- Phenolic Composites
- Vinyl ester Composites
- Thermoplastic Composites
- Other Composites
Advanced composites market by Region ($ Million and Million Pounds from 2011 to 2022)
- North America
- Europe
- Asia Pacific
- Rest of the World
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This 249-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link http://www.lucintel.com/advanced_composites_market_2017.aspx or helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
For more details contact:
Tushita Roy
Sr. Manager- Client Engagement,
Lucintel
Netherlands
+31-682270883
tushita.roy@lucintel.com
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This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the global advanced composites market by end use industries (Aerospace & Defense, Wind Energy, Automotive, Marine, Construction, Electrical/electronics, 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)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers, challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material / product substitution?
Q.11. What M & A activities have occurred in the last 5 years in this market?