Advanced Composites Market

Advanced Composites Market is projected to grow from USD XX Billion in 2018 to USD 65.62 Billion by 2026, at a CAGR of XX % between 2019 and 2026.

Advanced Composites Market

Advanced composites involve manufacturing technology, materials and engineered composites with enhanced physical and mechanical properties. Technical innovation on the lightweight vehicle to increase fuel efficiency and reduce carbon emission in the automotive sector and aerospace spacecraft is a major factor driving the market.

Ease in the manufacturing process of complex structures resulted in automated fiber placement and automated tape laying becoming the largest segment of advanced composites market. Carbon fiber became the largest segment based on fiber type owing to the product being light-weight and strong. Thermoplastic resins have wide applications across numerous industries due to properties like thermal stability even in moist conditions. This allowed thermoplastic resins to be suitable for that have high temperature and corrosion. Aerospace and defense industry holds the largest market share with transportation monitoring fastest growth in end-use industry segment for advanced composites market.

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Scope of the Report:

Advanced Composites Market, by Fiber Type:

• Aramid

• Carbon

• S-Glass

• Other

Advanced Composites Market, by Resin Type:

• Advanced Thermosetting Composites

Polyester

Phenolic

Vinyl Ester

Polyurethane

Epoxy

Others

• Advanced Thermoplastic Composites

Polyphenylene Sulfide

Polyetheretherketone

Polyetherimide

Others

Advanced Composites Market, by Manufacturing Process:

• Filament Winding

• Injection Molding

• Compression Molding

• Hand layup/ Spray Layup

• Automated Fiber Placement (AFP) & Automated Tape Laying (ATL)

• Pultrusion

• Vacuum Assisted Resin Transfer Molding (VARTM) or Vacuum Injected Molding (VIM)

• Others

Advanced Composites Market, by End-use Industry:

• Wind Energy

• Sporting Goods

• Transportation

• Aerospace & Defense

• Pipes & Tanks

• Electrical & Electronics

• Civil Engineering

• Medical

• Marine

• Others

Advanced Composites Market, by Region:

• North America

• Asia Pacific

• Europe

• Middle East & Africa

• Latin America

Key Players analysed in the Advanced Composites market:

• Owens Corning (U.S.)

• Teijin Limited (Japan)

• Toray Industries, Inc., (Japan)

• SGL Group (Germany)

• Solvay (Belgium)

• Hexcel Corporation (U.S.)

• Gurit (Switzerland)

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[Dhruv Bindhani]

Advanced composites, encompassing innovative manufacturing technologies, materials, and engineered structures, are a pivotal force driving several high-growth industries. These materials are characterized by their enhanced physical and mechanical properties, making them ideal for applications demanding high performance, lightweight solutions, and durability.

A major driver for the global advanced composites market is the increasing focus on lightweight vehicles within the automotive sector and aerospace spacecraft. The primary goal is to increase fuel efficiency and reduce carbon emissions, critical objectives for both economic and environmental sustainability.

Market Segmentation and Key Trends:​

• Manufacturing Process: Automated Fiber Placement (AFP) & Automated Tape Laying (ATL) have emerged as the largest segment within the advanced composites manufacturing process. This dominance is attributed to their ability to facilitate the efficient production of complex structures, simplifying previously intricate manufacturing processes. Other significant processes include Filament Winding, Injection Molding, Compression Molding, Hand Layup/Spray Layup, Pultrusion, and Vacuum Assisted Resin Transfer Molding (VARTM)/Vacuum Injected Molding (VIM).
• Fiber Type: Carbon fiber holds the largest share based on fiber type. Its widespread adoption is due to its exceptional properties, notably its lightweight nature and high strength, which are crucial for performance-driven applications. Other fiber types include Aramid and S-Glass.
• Resin Type: Thermoplastic resins are widely utilized across numerous industries. Their suitability for applications exposed to high temperatures and corrosive environments stems from properties like thermal stability even in moist conditions. The market for advanced composites also includes various advanced thermosetting composites like Polyester, Phenolic, Vinyl Ester, Polyurethane, and Epoxy.
• End-use Industry: The aerospace and defense industry holds the largest market share in the advanced composites market. This sector heavily relies on advanced composites for their superior strength-to-weight ratio, crucial for aircraft structures and spacecraft components. Transportation is identified as the fastest-growing end-use industry segment, indicating increasing adoption in automotive and other vehicle manufacturing for weight reduction and performance enhancement. Other significant end-use industries include Wind Energy, Sporting Goods, Pipes & Tanks, Electrical & Electronics, Civil Engineering, Medical, and Marine.

Regional Outlook:​

The report outlines key geographical segments: North America, Asia Pacific, Europe, Middle East & Africa, and Latin America, each contributing to the market's dynamics based on regional industrial development and technological adoption.

Key Players:​

The advanced composites market features prominent global players such as:

• Owens Corning (U.S.)
• Teijin Limited (Japan)
• Toray Industries, Inc. (Japan)
• SGL Group (Germany)
• Solvay (Belgium)
• Hexcel Corporation (U.S.)
• Gurit (Switzerland)

These companies are at the forefront of innovation, developing new materials and manufacturing processes to meet the evolving demands of various industries.