Advanced composites market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing at a CAGR of 7.8% in the forecast period of 2021 to 2028 and expected to reach USD 13,231.11 million by 2028.
Advanced composites are the mixtures of the several components which have high specific strength and stiffness and advanced composite material are combined with automatic manufacturing processes. Advanced composite materials (ACM) in comparison to the composite materials commonly used in reinforced concrete. The structures which are manufactured from the advanced composites have high strength and are light weight in nature.
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The major players covered in the report are TEIJIN LIMITED, Koninklijke Ten Cate bv., Huntsman International LLC, Solvay, Hexcel Corporation, Hexion, BASF SE, DuPont, Honeywell International Inc, Mitsubishi Chemical Holdings Corporation, Henkel AG & Co. KGaA, SGL Carbon Renegade Materials Corporation, Advanced Composites Inc and Owens Corning among other players domestic and global. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
North America Advanced Composites Market Scope and Market Size:
- On the basis of type, the market is segmented into carbon fiber composites, s-glass composites, aramid fiber composites and others. The demand of carbon fiber composites segment is increasing as the production of the next generation aircraft is increasing in the region which makes the carbon fiber composites dominate dominating in the market.
- On the basis of resin, the market is segmented into advanced thermoplastic, advanced thermosetting. Advanced thermoplastic segment is dominating as several manufacturers are engaged in the production of the composites structures through advanced thermoplastic resin as it allows large structure fabrication without the limits of out of time constraints which makes advanced thermoplastic dominating in the region.
- On the basis of manufacturing process, the market is segmented into automated tape laying (ATL) and automated fiber placement (AFP), hand layup/spray layup, compression molding, resin transfer molding (RTM), injection molding, filament winding, pultrusion and others. The demand for automated tape laying (ATL) and automated fiber placement (AFP) manufacturing process is increasing as due to increase in the demand of the light weight composites structures in automotive industry which makes automated tape laying (ATL) and automated fiber placement (AFP) dominates dominating in the region.
- On the basis of end-user, the market is segmented into aerospace and defense, energy and power, automotive, sports equipment, civil engineering, electrical and electronics, healthcare and others. Aerospace and defense segment is dominating as more of the industries are engaged in the production of the aerospace material which makes aerospace and defense to dominate in the region.
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Advanced Composites Market Country Level Analysis:
North America advanced composites market is analysed and market size information is provided by type, resin, manufacturing process and end-user.
The countries covered in the advanced composites market report are U.S., Canada and Mexico in North America.
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