Global Advanced Composites Market- Market Overview:

The global Advanced Composites Market is expected to grow from USD 31.73 billion in 2021 to USD 63 billion by 2029, at a CAGR of 9% during the Projection period 2022-2029. The growth of this market is mainly driven by the increasing demand for complex and small designs, rising material needs, and financial constraints.

The market for advanced composites is anticipated to be driven by rising demand for the product in the sports goods and aerospace and military industries. Advanced polymer matrix composites, another name for advanced composites, are lightweight materials with high strength and elasticity moduli. Fibrous materials incorporated in various resin matrices are used to create these goods. These cutting-edge materials are widely used in the wind energy, automotive, aerospace and defense, and marine industries. One of the strong production bases for aerospace and defense equipment is found in the United States. Advanced composites are therefore anticipated to be in high demand, as their use in aerospace and defense equipment is expanding quickly due to the equipment's ability to perform better by reducing its weight. The market for advanced composites is anticipated to benefit from the rising demand for these materials in the production of turbines. Globally expanding wind turbine installations are probably going to help fuel market expansion. Demand is anticipated to increase throughout the Projection period due to the industry's use of sophisticated composites made of carbon and glass. Advanced composites are increasingly being used in a variety of sectors, including building, maritime, and recreational products. The product's expensive price, however, is anticipated to impede market expansion. Because of increased costs brought on by automation and the use of pricey high-performance resins, there is less demand for the product.

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Market Dynamics:

Drivers:                          

• Increase Demand

The demand for complex and small-scale designs, rising material needs, and cost restraints may possibly drive the need for advanced composites material even further, ultimately fueling the expansion of the advanced composites market. The focus on eco-friendly lifestyles and production regulations brought on by climate change may limit the market's expansion for advanced composites. Renewable energy is in high demand right now, and market growth would be a fantastic opportunity for the advanced composites market to realise its full potential. This is because composites are needed to create the devices and machinery needed to produce and store carbon-neutral energy.

Restraints:                                             

• High Cost

The product's high price is anticipated to impede market expansion. Because of increased costs brought on by automation and the use of pricey high-performance resins, there is less demand for the product. Integration across manufacturing stages and value chain distribution channels defines the market for advanced composites. A cost-benefit results from the integration of the manufacturing and distribution channels. Due to the existence of numerous well-established manufacturers and suppliers on a global scale, the industry is very competitive. ?

Opportunities:

• Rapid Urbanization

Rapid urbanization and a higher standard of living will increase the number of airline passengers while driving down ticket rates. For instance, by 2025, it's expected that worldwide air traffic will increase by more than 5%. Additionally, there were approximately 1200 big commercial aircraft delivered overall in 2013; by the conclusion of the Projection period, that number is anticipated to rise to over 1500. Additionally, the industry's expansion will be influenced favorably by rising auto sales in nations like China, Japan, the United States, and others as well as measures taken by automakers to utilize polymer composites.

Challenges:

• Recycling Problem

The difficulty in recycling is a problem for the market for advanced composites because it leads to various restrictions being imposed by the government, which can stall the sector's expansion.

Segmentation Analysis:

The global Advanced Composites Market has been segmented based on fiber type, end user and regions.

By Fiber Type

The fiber type segment is Aramid Fiber, Glass Fiber, Carbon Fiber, and Others. The carbon fiber segment led the largest share of the Advanced Composites Market with a market share of around 10.1% in 2021. The expanding application of the product in the production of wind turbines and aerospace components is the main driver fueling market expansion. Due to the rising use of the commodity in the aerospace industry, carbon is predicted to have the fastest growth rate over the Projection period. The demand for lightweight, fuel-efficient aircraft is anticipated to increase, which will spur the development of improved carbon materials.

By End User

The end user segment includes Aerospace and Defense, Wind Energy, Transportation, Marine, Consumer Goods, and Others. The aerospace and defense segment led the Advanced Composites Market with a market share of around 9.2% in 2021. Over the Projection period, demand for composites is anticipated to be driven by the aerospace industry's positive year-over-year expansion as well as rising investment in the sector. Over the course of the Projection period, the market for advanced composites is anticipated to grow due to the increased need in the automotive industry for conductive, lightweight, and durable raw materials. However, the penetration of these composites is low in these industries as a result of the limitations on the application of products to only high-end cars, huge ships, and aircraft carriers.

Global Advanced Composites Market- Sales Analysis.

The sale of advanced composites fiber type, end users expanded at a CAGR of 7% from 2015 to 2021.

Advanced Composites are substances made up of more than two basic parts with various chemical or physical characteristics. The polymer matrix is another name for the advanced composite. These composites exhibit amazing qualities like elasticity, temperature and chemical resistance, dimension stability, high-strength fibres with high stiffness, and many more. It has many uses in the aircraft sector and is extensively used to replace metal components.

Due to its superior technical characteristics, including high strength, stiffness, exceptional fatigue resistance, and abrasion resistance, the automotive and aerospace industries will continue to experience rising product demand, which will propel the advanced composites market. Due to their excellent strength and low weight, these advanced composites are primarily used to create parts for high-performance supercars and aircraft, including engine nacelles, wings, elaborators, floor beams, ailerons, rudders, landing gear doors, and other components. This increases operational efficiency.

Thus, owing to the aforementioned factors, the global Advanced Composites Market is expected to grow at a CAGR of 9% during the Projection period from 2022 to 2029.

By Regional Analysis:

The regions analyzed for the Advanced Composites Market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. The North America region dominated the Advanced Composites Market and held a 36% share of the market revenue in 2021.

• The North America region witnessed a major share. The increased need in the automotive, aerospace, and defense industries led to a demand for the commodity in North America estimated at over USD XX billion in 2021. North America has one of the largest automotive industries in the world, with the United States being among the top automakers. Large markets, large consumer disposable income, mass manufacturing efficiency, and a wide range of products have all contributed to the country's industry's rapid expansion.
• Europe is anticipated to experience significant growth during the Projection period. It is anticipated that the increased demand for sustainable renewable energy will positively affect the installation of wind turbines in Spain, Germany, and the United Kingdom. Onshore and offshore wind energy plant installation is increasing, and this is likely to support market growth in the area. The market for advanced composites is anticipated to be driven by the expanding wind energy farms, which are projected to have a beneficial effect on demand for the production of wind turbines.

Global Advanced Composites Market- Country Analysis:

• Germany

Germany's Advanced Composites Market size was valued at USD 0.59 billion in 2021 and is expected to reach USD 1.05 billion by 2029, at a CAGR of 7.5% from 2022 to 2029.

The aerospace sector in Germany is expanding faster than it did previously. With several billions of dollars in committed orders and about eight years of manufacturing, Airbus is primarily responsible for this. Additionally, the nation's car manufacturing is expanding by more than 1% annually, which has recently increased the demand for sophisticated composite materials.

• China

China’s Advanced Composites Market size was valued at USD 0.85 billion in 2021 and is expected to reach USD 1.63 billion by 2029, at a CAGR of 8.5% from 2022 to 2029. The demand for complex and small-scale designs, rising material needs, and cost restraints may possibly drive the need for advanced composites material even further, ultimately fueling the expansion of the advanced composites market.

• India

India's Advanced Composites Market size was valued at USD 0.80 billion in 2021 and is expected to reach USD 1.48 billion by 2029, at a CAGR of 8% from 2022 to 2029. The market for advanced composites is expected to rise as a result of an increase in the need for extremely strong, lightweight materials in the aerospace and automotive sectors.

Key Industry Players Analysis:                                                     

To increase their market position in the global advanced composites business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.

• Toray Industries, Inc.
• Koninklijke Ten Cate NV
• Teijin Limited
• Hexcel Corporation
• SGL Group
• Cytec Solvay Group
• Owens Corning
• I. Dupont De Nemours and Company
• Huntsman Corporation
• Momentive Performance Materials Inc.
• WS Atkins plc
• AGY Holdings Corp.
• Formosa Plastics Corporation

Latest Development:

• In December 2020, TORAY INDUSTRIES, INC. unveiled a new kind of eco-friendly, easily recyclable PET film called "Ecouse". The company intends to start a full-fledged sale of the new product and to produce 2500 metric tonnes annually.
• In May 2021, Impossible Objects and Owens Corning signed a joint development agreement to work on developing new materials for Impossible Objects' composite-based additive manufacturing (CBAM) technology.

Report Metrics

Report Attribute	Details
Study Period	2021-2029
Base year	2021
CAGR (%)	9%
Market Size	31.73 billion in 2021
Projection period	2022-2029
Projection unit	Value (USD)
Segments covered	By Fiber Type, By End-User and By Region.
Report Scope	Revenue Projection, competitive landscape, company ranking, growth factors, and trends
Companies covered	Toray Industries, Inc., Koninklijke Ten Cate NV, Teijin Limited, Hexcel Corporation, SGL Group, Cytec Solvay Group, Owens Corning, E. I. Dupont De Nemours and Company, Huntsman Corporation, Momentive Performance Materials Inc., WS Atkins plc, AGY Holdings Corp., Formosa Plastics Corporation.
By Fiber Type	Aramid Fiber Glass Fiber Carbon Fiber Other
By End-User	Aerospace and Defense Wind Energy Transportation Marine Consumer Goods Other
Regional scope	North America Europe Asia-Pacific South America Middle East and Africa

Scope of the Report

Global Advanced Composites Market By Fiber Type:

• Aramid Fiber
• Glass Fiber
• Carbon Fiber
• Other

Global Advanced Composites Market By End- User:

• Aerospace and Defense
• Wind Energy
• Transportation
• Marine
• Consumer Goods
• Other

Global Advanced Composites Market By Region:

• North America
  • USA
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Russia
• Asia-Pacific
  • Japan
  • China
  • India
  • Korea
  • Southeast Asia
• South America
  • Brazil
  • Peru
• Middle East and Africa
  • UAE
  • South Africa
  • Saudi Arabia

Political Factors- The strong political structures and institutions support the growth and development of advanced composites. Government stability also allows industries like advanced composites to expand globally. Trade relations with other countries because of political stability and strength allow industries like advanced composites to maintain offshore business affiliations easily and smoothly. Government stability also attracts investors for businesses and companies which leads to growth and development in the infrastructure as well as enhances international image. High government stability can also attract resources for industry development as a whole, which industrial will boost player performance and improve overall competitive positioning.

Economical Factors- The market for advanced composites is anticipated to be driven by rising demand for the product in the sports goods and aerospace and military industries. These cutting-edge materials are widely used in the wind energy, automotive, aerospace and defense, and marine industries. For sectors like advanced composites to thrive, the economy needs a moderate rate of inflation. A modest rate of inflation will also aid in corporate expansion and positively influence consumer confidence and spending patterns. As a result, the economy will grow and there will be more money available to spend overall. A greater inflation rate might affect enterprises and companies, diminish consumer confidence, and result in less discretionary money, which would reduce overall expansion. A decreased inflation rate will result in a significant rise in disposable income, which could stimulate competition, particularly through pricing methods that could result in unethical price wars that unfairly benefit the customer.

Social Factor- For advanced composites, a bigger proportion of the younger population is advantageous because it will give the business access to a broader customer base. Additionally, a younger population will offer advanced composites with more educated and talented laborers, expanding the talent pool both in breadth and depth. As present users and supporters of advanced composites, the moderate to the upper middle class is equally crucial. This organization promotes advanced composites as a brand and inspires younger people to become devoted patrons. The population as a whole is adopting trends in health and well-being. The movement toward health and wellness has influenced consumption choices and behaviors as well.

Technological Factors- The country-by-country study has a robust technological infrastructure. The rate of technical innovation and development is rapid. Businesses like advanced composites are increasingly utilising technical advancements and innovation to boost corporate effectiveness and efficiency. All industries have a high rate of innovation, which makes sectors like advanced composites competitive and forward-thinking. The widespread use of the internet is used for both professional and personal obligations. Most people have access to PCs and laptops, and nearly everyone has a smartphone with internet connection. Worldwide, there is a significant amount of domestic and foreign investment in technological R&D.

Environmental Factors- Recycling and environmental sustainability are receiving more attention. More and more consumers are demanding ways to recycle things before disposing of them. Consumption of recycled goods is likewise becoming more and more popular with consumers. Advanced Composites has introduced dedicated websites for the disposal of recyclable materials. To follow rules, maintain checks, and prevent any future issues, the advanced composite industry should affiliate with and register with waste management institutions and authorities. Market participants ought to launch a green product line, which is a variant of their current offerings. To boost its contribution to environmental sustainability, the company intends to steadily expand the weight of its green product range.

Legal Factors- Laws pertaining to consumer protection, antitrust, employment, and health and safety regulations are only a few of them. These factors could affect a business’s operations, costs, and product demand. Failure to abide by the new regulations and legal processes governing single-use assembly could result in the immediate demise of a business and a market. Regarding the health and safety of employees at work, there are stringent rules. Respected associations and institutions conduct routine audits of businesses to determine whether safety nets, drills, and other preventative measures are being implemented. The safety and health of employees includes not only their physical health but also their emotional and mental health. Businesses must create legally binding employment contracts in accordance with national rules. These agreements, which cover every aspect of employment, are approved by the respected governmental bodies. Employability contracts provide a positive relationship between all parties and prevent miscommunication or collusion.

1. Introduction
   • 1. Objectives of the Study
   • 2. Market Definition
   • 3. Research Scope
2. Research Methodology and Assumptions
3. Executive Summary
4. Premium Insights
   • 1. Porter’s Five Forces Analysis
   • 2. Value Chain Analysis
   • 3. Top Investment Pockets
     • 3.1. Market Attractiveness Analysis By Fiber Type
     • 3.2. Market Attractiveness Analysis By End-user
     • 3.3. Market Attractiveness Analysis By Region
   • 4. Industry Trends
5. Market Dynamics
   • 1. Market Evaluation
   • 2. Drivers
     • 2.1. Increase Demand
   • 3. Restraints
     • 3.1. High Cost
   • 4. Opportunities
     • 4.1. Rapid Urbanization
   • 5. Challenges
     • 5.1. Recycling Problem

6. Global Advanced Composites Market Analysis and Projection, By Fiber Type
   • 1. Segment Overview
   • 2. Aramid Fiber
   • 3. Glass Fiber
   • 4. Carbon Fiber
   • 5. Other
7. Global Advanced Composites Market Analysis and Projection, By End-user
   • 1. Segment Overview
   • 2. Wind Energy
   • 3. Transportation
   • 4. Marine
   • 5. Consumer Goods
   • 6. Other
8. Global Advanced Composites Market Analysis and Projection, By Regional Analysis
   • 1. Segment Overview
   • 2. North America
     • 2.1. U.S.
     • 2.2. Canada
     • 2.3. Mexico
   • 3. Europe
     • 3.1. Germany
     • 3.2. France
     • 3.3. U.K.
     • 3.4. Italy
     • 3.5. Spain
   • 4. Asia-Pacific
     • 4.1. Japan
     • 4.2. China
     • 4.3. India
   • 5. South America
     • 5.1. Brazil
   • 6. Middle East and Africa
     • 6.1. UAE
     • 6.2. South Africa

9. Global Advanced Composites Market-Competitive Landscape
   • 1. Overview
   • 2. Market Share of Key Players in the Advanced Composites Market
     • 2.1. Global Company Market Share
     • 2.2. North America Company Market Share
     • 2.3. Europe Company Market Share
     • 2.4. APAC Company Market Share
   • 3. Competitive Situations and Trends
     • 3.1. Product Launches and Developments
     • 3.2. Partnerships, Collaborations, and Agreements
     • 3.3. Mergers & Acquisitions
     • 3.4. Expansions

10. Company Profiles
    • Toray Industries, Inc.
      • 1.1. Business Overview
      • 1.2. Company Snapshot
      • 1.3. Company Market Share Analysis
      • 1.4. Company Product Portfolio
      • 1.5. Recent Developments
      • 1.6. SWOT Analysis
    • Koninklijke Ten Cate NV
      • 2.1. Business Overview
      • 2.2. Company Snapshot
      • 2.3. Company Market Share Analysis
      • 2.4. Company Product Portfolio
      • 2.5. Recent Developments
      • 2.6. SWOT Analysis
    • Teijin Limited
      • 3.1. Business Overview
      • 3.2. Company Snapshot
      • 3.3. Company Market Share Analysis
      • 3.4. Company Product Portfolio
      • 3.5. Recent Developments
      • 3.6. SWOT Analysis
    • Hexcel Corporation
      • 4.1. Business Overview
      • 4.2. Company Snapshot
      • 4.3. Company Market Share Analysis
      • 4.4. Company Product Portfolio
      • 4.5. Recent Developments
      • 4.6. SWOT Analysis
    • SGL Group
      • 5.1. Business Overview
      • 5.2. Company Snapshot
      • 5.3. Company Market Share Analysis
      • 5.4. Company Product Portfolio
      • 5.5. Recent Developments
      • 5.6. SWOT Analysis
    • Cytec Solvay Group
      • 6.1. Business Overview
      • 6.2. Company Snapshot
      • 6.3. Company Market Share Analysis
      • 6.4. Company Product Portfolio
      • 6.5. Recent Developments
      • 6.6. SWOT Analysis
    • Owens Corning
      • 7.1. Business Overview
      • 7.2. Company Snapshot
      • 7.3. Company Market Share Analysis
      • 7.4. Company Product Portfolio
      • 7.5. Recent Developments
      • 7.6. SWOT Analysis
    • I. Dupont De Nemours and Company
      • 8.1. Business Overview
      • 8.2. Company Snapshot
      • 8.3. Company Market Share Analysis
      • 8.4. Company Product Portfolio
      • 8.5. Recent Developments
      • 8.6. SWOT Analysis
    • Huntsman Corporation
      • 9.1. Business Overview
      • 9.2. Company Snapshot
      • 9.3. Company Market Share Analysis
      • 9.4. Company Product Portfolio
      • 9.5. Recent Developments
      • 9.6. SWOT Analysis
    • Momentive Performance Materials Inc.
      • Business Overview
      • Company Snapshot
      • Company Market Share Analysis
      • Company Product Portfolio
      • Recent Developments
      • SWOT Analysis
    • WS Atkins plc
      • Business Overview
      • Company Snapshot
      • Company Market Share Analysis
      • Company Product Portfolio
      • Recent Developments
      • SWOT Analysis
    • AGY Holdings Corp.
      • Business Overview
      • Company Snapshot
      • Company Market Share Analysis
      • Company Product Portfolio
      • Recent Developments
      • SWOT Analysis

List of Table

1. Global Advanced Composites Market, By Fiber Type, 2021–2029 (USD Billion)
2. Global Aramid Fiber, Advanced Composites Market, By Region, 2021–2029 (USD Billion)
3. Global Glass Fiber, Advanced Composites Market, By Region, 2021–2029 (USD Billion)
4. Global Carbon Fiber, Advanced Composites Market, By Region, 2021–2029 (USD Billion)
5. Global Others, Advanced Composites Market, By Region, 2021–2029 (USD Billion)
6. Global Advanced Composites Market, By End-user, 2021–2029 (USD Billion)
7. Global Aerospace and Defense, Advanced Composites Market, By Region, 2021–2029 (USD Billion)
8. Global Wind Energy, Advanced Composites Market, By Region, 2021–2029 (USD Billion)
9. Global Transportation, Advanced Composites Market, By Region, 2021–2029 (USD Billion)
10. Global Marine, Advanced Composites Market, By Region, 2021–2029 (USD Billion)
11. Global Consumer Goods, Advanced Composites Market, By Region, 2021–2029 (USD Billion)
12. Global Other, Advanced Composites Market, By Region, 2021–2029 (USD Billion)
13. Global Advanced Composites Market, By Region, 2021–2029 (USD Billion)
14. North America Advanced Composites Market, By Fiber Type, 2021–2029 (USD Billion)
15. North America Advanced Composites Market, By End-user, 2021–2029 (USD Billion)
16. USA Advanced Composites Market, By Fiber Type, 2021–2029 (USD Billion)  
17. USA Advanced Composites Market, By End-user, 2021–2029 (USD Billion)  
18. Canada Advanced Composites Market, By Fiber Type, 2021–2029 (USD Billion)
19. Canada Advanced Composites Market, By End-user, 2021–2029 (USD Billion)
20. Mexico Advanced Composites Market, By Fiber Type, 2021–2029 (USD Billion)
21. Mexico Advanced Composites Market, By End-user, 2021–2029 (USD Billion)
22. Europe Advanced Composites Market, By Fiber Type, 2021–2029 (USD Billion)
23. Europe Advanced Composites Market, By End-user, 2021–2029 (USD Billion)
24. Germany Advanced Composites Market, By Fiber Type, 2021–2029 (USD Billion)
25. Germany Advanced Composites Market, By End-user, 2021–2029 (USD Billion)
26. France Advanced Composites Market, By Fiber Type, 2021–2029 (USD Billion)
27. France Advanced Composites Market, By End-user, 2021–2029 (USD Billion)
28. UK Advanced Composites Market, By Fiber Type, 2021–2029 (USD Billion)
29. UK Advanced Composites Market, By End-user, 2021–2029 (USD Billion)
30. Italy Advanced Composites Market, By Fiber Type, 2021–2029 (USD Billion)
31. Italy Advanced Composites Market, By End-user, 2021–2029 (USD Billion)
32. Spain Advanced Composites Market, By Fiber Type, 2021–2029 (USD Billion)
33. Spain Advanced Composites Market, By End-user, 2021–2029 (USD Billion)
34. Asia Pacific Advanced Composites Market, By Fiber Type, 2021–2029 (USD Billion)
35. Asia Pacific Advanced Composites Market, By End-user, 2021–2029 (USD Billion)
36. Japan Advanced Composites Market, By Fiber Type, 2021–2029 (USD Billion)
37. Japan Advanced Composites Market, By End-user, 2021–2029 (USD Billion)
38. China Advanced Composites Market, By Fiber Type, 2021–2029 (USD Billion)
39. China Advanced Composites Market, By End-user, 2021–2029 (USD Billion)
40. India Advanced Composites Market, By Fiber Type, 2021–2029 (USD Billion)
41. India Advanced Composites Market, By End-user, 2021–2029 (USD Billion)
42. South America Advanced Composites Market, By Fiber Type, 2021–2029 (USD Billion)
43. South America Advanced Composites Market, By End-user, 2021–2029 (USD Billion)
44. Brazil Advanced Composites Market, By Fiber Type, 2021–2029 (USD Billion)
45. Brazil Advanced Composites Market, By End-user, 2021–2029 (USD Billion)
46. Middle East and Africa Advanced Composites Market, By Fiber Type, 2021–2029 (USD Billion)
47. Middle East and Africa Advanced Composites Market, By End-user, 2021–2029 (USD Billion)
48. UAE Advanced Composites Market, By Product, 2021–2029 (USD Billion)
49. UAE Advanced Composites Market, By Biomaterial, 2021–2029 (USD Billion)
50. UAE Advanced Composites Market, By Fiber Type, 2021–2029 (USD Billion)
51. UAE Advanced Composites Market, By End-user, 2021–2029 (USD Billion)
52. South Africa Advanced Composites Market, By Fiber Type, 2021–2029 (USD Billion)
53. South Africa Advanced Composites Market, By End-user, 2021–2029 (USD Billion)

List of Figures 

1. Global Advanced Composites Market Segmentation
2. Advanced Composites Market: Research Methodology
3. Market Size Estimation Methodology: Bottom-Up Approach
4. Market Size Estimation Methodology: Top-Down Approach
5. Data Triangulation
6. Porter’s Five Forces Analysis
7. Value Chain Analysis
8. Global Advanced Composites Market Attractiveness Analysis By Fiber Type
9. Global Advanced Composites Market Attractiveness Analysis By End-user
10. Global Advanced Composites Market Attractiveness Analysis By Region
11. Global Advanced Composites Market: Dynamics
12. Global Advanced Composites Market Share By Fiber Type (2021 & 2029)
13. Global Advanced Composites Market Share By End-user (2021 & 2029)
14. Global Advanced Composites Market Share by Regions (2021 & 2029)
15. Global Advanced Composites Market Share by Company (2020)