Advanced Composite Market Prophesied to Perceive Burnished Growth by 2022-2030

Key Players:

3M company (U.S.A.), Axalta Coating Systems, LLC (U.S.A.), PPG industries (U.S.A.), TEIJIN LIMITED (Japan), Koninklijke Ten Cate bv (the Netherlands), Hexcel Corporation( U.S.A.), Toyota Motor Corporation( Japan), Cytec Solvay Group( U.S.A.), Hexcel Corporation( U.S.A.), and some of the other players at the forefront of competition in the Global Advanced Composite Market and are profiled in MRFR Analysis.

Advanced Composite Market – Overview:

The CAGR for the Advanced composites Market is projected to be 9% by 2030. The advanced composites market value is expected to be USD 22 billion by 2030.

Advanced composites are a combination of polymer inserted in the resin matrix. These composites are also known as advanced polymer matrix composites are lightweight material with high strength and modulus to elasticity. Application scope of advanced composites covers range of applications including aerospace, transport, electronics, sports, energy, construction and others. These composites offers high strength-to-weight ratio and increased heat resistance, which makes them highly favorable in aerospace & defense, sporting goods, and transportation industries and driving the growth of this market. One of the major property associated with advanced ceramic is they are light weight and help in increasing fuel efficiency. Therefore vehicles produced using advanced composites provides structural stability. The trend for light weight vehicles in the automotive industry is expected to fuel demand for advanced ceramic as they are light weight and are suitable for the trending applications. Due to this trend, aerospace and defense industry to offer higher gains for the advanced composites in the coming years

Industry/ Innovation/ Related News:

February 1, 2017 – Liberty Hall Capital Partners Acquires Quatro Composites. Liberty hall is a private equity firm focused on exclusively on investment in business serving the global aerospace and defense industry. The company has announces the acquisition of Quatro Composites, L.L.C., which is one of the leading supplier of engineered advanced composites.  The transaction detail hast not disclosed, but the overall activity expected to provide growth offering in aerospace and deference sector, which is the major application sector. 

December 13, 2017 – Trelleborg finalizes acquisition of advanced composite components manufacturer and expands capabilities globally. Trelleborg, is a foremost leader in engineered polymer solutions confirms the acquisition of Automated Dynamic, an advanced composite components manufacturer. The transaction undertaken in exchange of USD 7.8 million and is considered as the one of the most recent key development witnessed in this market. Trelleborg is one of the leader in advanced composites which has more than 25 production facilities and 50 marketing networks across the globe.  The acquisition activity has been undertaken by eying the stronger global penetration in advanced composites market. With increasing production facilities of their own group, the company expected to further adopt several strategic alliances.

November 12, 2017 – Solvay and Strata sign final agreement for United Arab Emirates’ first aerospace materials joint venture. Solvay, an international materials and chemicals company, and Strata, an advanced composite aero structures manufacturing facility, have formalized their Joint Venture (JV) to supply Boeing with advanced composite materials from a high-tech facility to be built in Al Ain. The equal ownership joint venture will be the UAE’s first supplier of pre-impregnated carbon fibers, also referred to as “prepreg”. This durable advanced material is used to manufacture composite structures for aviation applications, including Boeing’s latest generation aircraft, the 777X.

April 21, 2017- Asbury Graphite Mills and ZePR formed new joint venture for advance composites as Titan Advanced Composites. As both of the companies are the privately held companies, the joint venture details not been disclosed. However, such collective efforts to cater the ongoing demand of advanced composites.

Advanced Composite Market   -

Regional Analysis

North America emerged as the largest market for advanced ceramics followed by Asia Pacific and Europe. The U.S. is among the one of the prominent market across the globe and has generated largest revenue growing at highest CAGR. Increasing use of advanced composites in the transportation, aerospace & defense, and wind energy industries is the major factor driving the growth in this region and likely to further drive the regional demand.

Competitive Landscape:

The report analyses the degree of competition among the industry players as well as industry growth and market scenario. The global Advanced Composite market is at a growth stabilization phase, which significant numbers in terms of market value and volume. Transportation industry along with aerospace industry has been the major force for the growth of this market and has created scope for product innovation.

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