Advanced Polymer Composites Market Size [2023-2030] | Industry Analysis by Share, Potential Growth, Opportunities, And Trends Forecast Research Report
Key Companies covered in advanced polymer composites market Arkema S.A., TPI Composites Inc., Toray Industries Inc., Hexcel Corporation, BASF SE, Owens Corning Corporation, Solvay S.A., Mitsubishi Rayon Co. Ltd and more players profiled.
Pune, India, March 09, 2023 (GLOBE NEWSWIRE) — The advanced polymer composites market size is predicted to show rapid expansion due to the rising adoption of advanced polymer composites by the automotive sector. Fortune Business InsightsTM has presented this information in its upcoming report. Advanced polymers, on the other hand, offer high stiffness, mechanical strength, and other qualities, making them an excellent alternative for the automobile industry.
List of Key Players in the Market:
- Arkema S.A.
- TPI Composites Inc.
- Toray Industries Inc.
- Hexcel Corporation
- BASF SE
- Owens Corning Corporation
- Solvay S.A.
- Mitsubishi Rayon Co. Ltd
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Report Scope & Segmentation:
| Report Attribute | Details |
| Base Year | 2021 |
| Historical Year | 2018 – 2020 |
| Forecast Year | 2023 – 2030 |
| Segments Covered | By Type, By Form and Regional |
| Forecast Units | Value (USD Billion), and Volume (Units) |
| Quantitative Units | Revenue in USD million/billion and CAGR from 2023 to 2030 |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America and Rest of World |
| Countries Covered | Unites States, Canada, Mexico, Unites Kingdom, Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
| Number of Companies Covered | Arkema S.A., TPI Composites Inc., Toray Industries Inc., Hexcel Corporation, BASF SE, Owens Corning Corporation, Solvay S.A., Mitsubishi Rayon Co. Ltd |
| Advanced Polymer Composites Market | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
Segmentation –
On the basis of product type, the market is bifurcated into fiber and resin. On the basis of application, the market is fragmented into boat building, aviation parts, wind blades, conductors, tanks & pipes, and aviation parts. Geographically, the market is classified into Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.
Report Coverage –
The report delivers detailed information on the global advanced polymer composites market share, inclusive of the technological advancements, new product launches, regional growth, and key players adopting several strategies to maintain their presence and gain a leading edge in the market. Furthermore, the report consists of brief information about the COVID-19 impact on the industry.
Drivers & Restraints –
Rising Demand for Polymer Composites in Aerospace and Military Industries to Augment Market Growth
The market will be driven by rising demand from the aerospace and military industries. Advanced polymer composites are in high demand for high-performance aircraft parts such as floor beams, engine nacelles, wings, landing gear doors, collaborators, ailerons, and other components. Furthermore, the automotive industry’s increased adoption of sophisticated polymer composites will considerably contribute to the advanced polymer composites market growth.
Reinforcement of polymers, on the other hand, necessitates the employment of high-end equipment, which raises the cost of manufacture. The market’s expansion is projected to be hampered by high production costs.
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Regional Insights –
Strong Agricultural Presence in Asia Pacific to Make the Region a Dominant Market
North America is likely to dominate the market because of its vast aerospace consumer base. Asia Pacific is expected to grow rapidly due to the rising automobile manufacturing operations in the region. Due to increased demand from the automotive sector, Europe is likely to keep a substantial share. By the end of the projected period, Latin America and the Middle East & Africa would be experiencing slow development.
Competitive Landscape-
Prominent Players Focus on New Product Innovations to Garner Growth
The market for advanced composite materials is fragmented, with many local and global companies. Key players such as Toray Industries IncSGL Group, Teijin Limited, Kolon Industries Inc., Mitsubishi Chemical Carbon Fiber and Composites Inc., and others, are concentrating on new product innovations to enhance efficiency and longevity.
For instance, in August 2019, BASF and Toray Advanced Composites signed the supply agreement to bring innovative tape technology intended for the automotive sector.
Industry Developments
June 2020: Solvay and Leonardo have agreed to a five-year supply arrangement in which Solvay would deliver a wide range of market-leading materials to Leonardo’s Aerostructures, Aircraft, Helicopters, and Electronics businesses.
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