Advanced Composites Market 2018: Global Trends, Market Share, Forecast to 2025

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14th November 2018: The global Advanced Composites market displayed rapid growth during the assessment years. The aerospace and defense industries have benefitted the largest with increased utilization of advanced composites in the last many years. This is evident with 53% of the recent prototypes of airbus aircrafts taken to the skies using advanced composites as compared to earlier designs of airbus models that used up only 2%-5% of advanced composites in the aircraft design.
A significant reduction in weight of the aircraft has been attributed to use of advanced composites in aircraft design and which signifies greater economy in fuel consumption. Higher corrosive resistance and ample reduction in maintenance costs that is the domain of advanced composites materials in use with current aircrafts were not visible with use of traditional composites. These are favorable factors in growth of advanced composites industry.
Segmentation of advanced composites industry by fiber type includes carbon, s-glass and aramid. Segmentation of this market by resin type includes thermosetting and thermoplastic. Segmentation of advanced composites market by manufacturing process includes filament winding, injection molding and pultrusion. By end-user, segmentation of this industry includes transportation, aerospace and defense, wind energy, sporting goods, electrical and electronics, civil engineering, pipes and tanks, medical, marine and others.
Segmentation of advanced composites industry by geographical region includes North America, Europe, Asia Pacific, MEA and Latin America. The carbon fiber composites segment is projected to lead the advanced composites market during forecast period both in value and volume shares. Carbon fibers make up around 70% of buffering used in manufacture of advanced composites around the globe and this is due to enrichments of advanced composites such as high intrinsic strength, weather-fighting finish and number of surface textures on offer.
As demand for carbon fiber composites surges across the globe, manufacturers are looking to establish manufacturing plants for carbon fiber composites in and around North America and Europe. North America has risen to number one stature as consumer of advanced composites across the globe. Europe is portraying significant interests in advanced composites industry and is projected to lead market esteem with high growth figures in forecast period.
The expansive use of advanced composites in transportation, aerospace and defense and wind-energy industries are the major driving factors to growth of advanced composites in European market. The key industries in advanced composites market include Owens Corning, Solvay SGL Group, Hexcel Corporation and Huntsman Corporation.   

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