Global Advanced Polymer Composites Market- Market Overview:

The Global Advanced Polymer Composites market is expected to grow from USD 10.5 billion in 2021 to USD 16.73 billion by 2029, at a CAGR of 6% during the Projection period 2022-2029. The growth of this market is mainly driven owing to the increasing demand for durable, chemical-resistant materials in the automotive, aerospace & defense sector.

Advanced polymer composites consist of two components i.e., polymer and fiber. Polymer is of low strength and modulus whereas fiber is of high strength and modulus. The benefits of advanced polymer composites include greater durability, higher resistance to harsh chemicals or weather elements, and enhanced strength. In comparison with other composite materials, advanced composites display structural rigidity, material strength, and higher durability, giving them a competitive edge. Modern life would not be possible without the aerospace industry's work on building new air travel and improving existing machines. As a result, the demand for aircraft carriers and defense and logistics components is expected to boost the market for advanced polymer composites. The production of fuel-efficient automobiles and aircraft will be made possible through the use of advanced composite materials, lowering smog and emissions by up to 50%. This will mitigate the impact of rapidly rising gas prices, as will carbon dioxide emissions. In addition to increasingly complicated and compact designs, materials requirements and cost limitations are increasing, which may drive demand for advanced composites even higher, thus boosting the market growth for advanced composites. The global advanced polymer composite market will be driven by the growing demand for fuel-efficient vehicles, as well as the energy crisis and concerns over climate change. Electric vehicles, for instance, will see an increase in demand for advanced polymer composites.

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Market Dynamics:

Drivers:                          

• Rising demand in the automotive sector

Advanced polymer composites exhibit outstanding characteristic properties which makes them a perfect fit for the automotive sector. Increased research and development in the polymer composites industry offer new and innovative materials to the automotive sector to fulfil the demands of consumers. Advanced polymer composites have a low friction coefficient that makes them suitable for many large-volume standard products like gears, bushings, and plastic bearings. Furthermore, manufacturers of products that are subject to a high level of wear and tear prefer advanced polymer composites over other engineered plastics. All these factors account for the growth of the advanced polymer composites market.

Restraints:                                             

• High production cost

The production cost of advanced polymers composites is high, impacting the market’s growth because high production costs will lead to high prices for the final products. Higher costs mean producers can sell less at a given price. Production costs are increasing, so producers are having to produce less to achieve a given price and quantity which hampers the growth of the advanced polymer composites market. Moreover, the high cost of production results in switching to other alternatives which are cost-effective and will add value to companies’ growth.

Opportunities:

• Rising demand for renewable sources of energy

Residential and commercial sectors are increasingly turning to renewable energy sources like wind energy. As a result, the demand for sustainable sources of energy will also positively impact the manufacturing of wind blades, boosting the demand for composite materials. Government initiatives to spread awareness about the use of renewable sources over non-renewable sources are encouraging more and more people to switch to renewable sources which are proven to be beneficial for the growth of the advanced polymer composites market.

Challenges:

• Fibre-reinforced polymer composite challenges

Fiber-reinforced polymer composites face a number of challenges, including the difficulty of dispersing fibers uniformly. Aside from the high manufacturing cost of fiber-reinforced polymer composites, plastic behaviour is lacking, and shear strength in the transverse direction is very low, these challenges are expected to limit the growth of the global advanced polymer composites market during the Projection period.

Segmentation Analysis:

The global smart farming market has been segmented based on product type, application, and region.

By Type

The type segment includes fibers, resins and others. The resins segment led the largest share of the advanced polymer composites market with a market share of around 25.83% in 2021. Several industrial sectors use resins, many of which are strong and stiff, ideal for manufacturing strong auto parts in the automotive and aerospace industries, besides having great mechanical strength and resisting flames. The increased demand for advanced polymer composites accounts for the growth of the market.

By Application 

The type segment includes aerospace & defense, construction, automotive, tanks & pipes and others. The automotive segment led the largest share of the advanced polymer composites market with a market share of around 25.83% in 2021. Increased disposable income and easy credit facilities are stimulating the demand for vehicles, resulting in a rise in auto component production and an increase in the use of advanced composites for making stronger and lighter auto components which boost the growth of the advanced polymer composites market.

Global Advanced Polymer Composites Market- Sales Analysis.

The sale of synthetic biology products expanded at a CAGR of 5.9% from 2015 to 2021.

Innovative materials called advanced polymer composites have several uses in various industries, including the automotive, building, aerospace, marine, and biomedical fields. They are extremely adaptable and suitable for usage in many industrial environments. Great longevity, high rigidity, an excellent strength-to-weight ratio, and resistance to corrosion, harsh chemicals, and the elements are just a few advantages that these composites may provide. Depending on the intended usage, advanced polymers can replace traditional materials like wood and metal.

Advancement in technology and intensive R&D helps the advanced polymer composites market to grow. The major factors responsible for the market's growth are the rising demand for advanced polymer composites from various end users and rising awareness about the benefits of using renewable energy sources over non-renewable energy sources.

Advanced composites are in higher demand from the automotive industry as the materials can assist lighten the load on various parts to improve fuel efficiency. For prospective EV vehicles, the majority of manufacturers are looking for novel ways to create lightweight components. For instance, the British Tucana consortium welcomed automaker Jaguar Land Rover (JLR) in January 2021. The four-year initiative will allow the producer the chance to investigate the uses and advantages of cutting-edge composite materials in order to develop more lightweight electric cars. The global advanced polymer composite market is expected to grow as the energy crisis and climate change concerns drive the demand for fuel-efficient vehicles.

Thus, owing to the aforementioned factors, the global Advanced Polymer Composites Market is expected to grow at a CAGR of 6% during the Projection period from 2022 to 2029.

By Regional Analysis:

The regions analyzed for the gloves market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. The North American region dominated the advanced polymer composites market and held a 37.24% share of the market revenue in 2021.

• The North American region witnessed a major share. The presence of major market players in the region will boost the production of advanced polymer composites in the region. Moreover, the rising demand for advanced polymer composites from various end users such as aerospace & defense, automotive, construction etc. and rapid urbanization will propel the market's growth.
• Europe is anticipated to experience significant growth during the predicted period. It is projected that market growth in the area will be supported by the rapid expansion of the sector and the number of wind energy facilities built onshore and offshore.

Global Advanced Polymer Composites Market- Country Analysis:

• Germany

Germany's advanced polymer composites market size was valued at USD 1.20 billion in 2021 and is expected to reach USD 1.94 billion by 2029, at a CAGR of 6.2% from 2022 to 2029. Manufacturers are looking to produce low-cost products due to the shortage of natural resources and costs, and the cost-effectiveness of composite components is expected to drive the market during the Projection period.

• China

China’s advanced polymer composites market size was valued at USD 0.58 billion in 2021 and is expected to reach USD 0.95 billion by 2029, at a CAGR of 6.4% from 2022 to 2029. To gain substantial market share, major players in the region are expanding their production capacities and entering into strategic partnerships. Moreover, the country's strict environmental protection regulations have a lucrative impact on the market's growth.

• India

India's advanced polymer composites market size was valued at USD 0.48 billion in 2021 and is expected to reach USD 0.77 billion by 2029, at a CAGR of 6.1% from 2022 to 2029. The rising demand for automotive and Innovation in composites and materials to reduce overall vehicle weight and increase fuel efficiency is driving the growth of the market in the country.

Key Industry Players Analysis:                                                     

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

• BASF SE
• Hexcel Corporation
• Solvay S.A.
• Arkema S.A.
• Toray Industries Inc.
• Mitsubishi Rayon Co. Ltd.
• Owens Corning Corporation
• TPT Composites
• Kemrock Industries and Exports Limited
• SGL Carbon SE

Latest Development:

• In August 2019, A supply agreement between BASF and Toray Advanced Composites will bring innovative tape technology to the automotive industry.
• In June 2020, the agreement between Solvay and Leonardo covers the supply of a wide range of market-leading materials for Leonardo's Aerostructure, Helicopter, Aircraft and Electronic divisions over a five-year period.

Report Metrics

Report Attribute	Details
Study Period	2021-2029
Base year	2021
CAGR (%)	6%
Market Size	10.5 billion in 2021
Projection period	2022-2029
Projection unit	Value (USD)
Segments covered	By Product Type, By Application and By Region.
Report Scope	Revenue Projection, competitive landscape, company ranking, growth factors, and trends
Companies covered	BASF SE, Hexcel Corporation, Solvay S.A., Arkema S.A., Toray Industries Inc., Mitsubishi Rayon Co. Ltd., Owens Corning Corporation, TPT Composites, Kemrock Industries and Exports Limited, and SGL Carbon SE.
By Product Type	Fibers Resins Others
By Application	Aerospace & Defense Construction Automotive Tanks & Pipes Others
Regional scope	North America Europe Asia-Pacific South America Middle East and Africa

Scope of the Report

Global Advanced Polymer Composites Market by Product Type:

• Fibers
• Resins
• Others

Global Advanced Polymer Composites Market by Application:

• Aerospace & Defense
• Construction
• Automotive
• Tanks & Pipes
• Others

Global Advanced Polymer 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 growth and development of Advanced Polymer Composite are supported by the powerful political institutions and organisations. Government stability also enables the international expansion of sectors like sophisticated composites. Due to governmental strength and stability, trade links with foreign nations enable sectors like Advanced Polymer Composite to simply and smoothly sustain offshore commercial affiliations. Government stability also draws investors for enterprises and corporations, which spurs expansion of the infrastructure and improvements to the country's reputation abroad. High levels of government stability can also draw resources for the growth of an industry as a whole, which will enhance player performance and strengthen competitive standing overall.

Economical Factors- It is projected that the growing demand for the product in the sports goods, aerospace, and military industries will boost the market for Advanced Polymer Composite. The wind energy, automotive, aerospace and defence, and marine industries all make extensive use of these cutting-edge materials. The economy requires a moderate rate of inflation for industries like Advanced Polymer Composite to flourish. A moderate rate of inflation will also support business growth and have a favourable impact on consumer confidence and spending habits. The economy will expand as a result, and there will be more money available to spend generally. A higher inflation rate could have an impact on businesses and organisations, erode consumer confidence, and lead to less discretionary spending, which would slow down overall expansion. A decline in inflation will lead to a considerable increase in disposable money, which will likely increase competitiveness, especially through pricing strategies that can lead to unethical price wars that unfairly favour the consumer.

Social Factor- A larger share of the younger population is beneficial for Advanced Polymer Composite since it will give the company access to a larger consumer base. Additionally, a younger population will offer Advanced Polymer Composite with employees who are more educated and capable, thereby broadening and deepening the talent pool. The moderate to upper middle class is equally important because they are current users and proponents of sophisticated composites. This organisation encourages young people to become dedicated customers by promoting Advanced Polymer Composite as a brand. The general populace is embracing wellness and health trends. Consumption decisions and behaviours have also been influenced by the drive toward health and well-being.

Technological Factors- A strong technological foundation supports country-by-country examination. Technical innovation and progress are happening quickly. Businesses like Advanced Polymer Composite are using technology innovation and developments more and more to increase their effectiveness and efficiency. The increasing rate of innovation across all industries makes fields like Advanced Polymer Composite competitive and forward-thinking. Internet usage is commonplace for both personal and work-related purposes. Nearly everyone has a smartphone with an internet connection, and the majority of people have access to PCs and laptops. There is a sizable amount of domestic and international investment in technology R&D worldwide.

Environmental Factors- Environmental sustainability and recycling are getting increasing attention. Consumers are becoming more and more insistent that products be recycled before being thrown away. Consumers are also growing more and more interested in purchasing recycled goods. Advanced Polymer Composite has developed specific websites for recycling material disposal. The advanced composite industry should affiliate with and register with waste management institutions and authorities in order to adhere to regulations, maintain checks, and avert any future concerns. Market players should introduce a green product line that differs from their current products. The business plans to gradually increase the weight of its green product line in order to increase its impact on environmental sustainability.

Legal Factors- A handful of these include laws governing employment, antitrust, health and safety, and consumer protection. These elements could impact a company's operations, expenses, and product demand. Failure to follow the new rules and legal procedures controlling single-use assembly could lead to an organization's and a market's abrupt collapse. There are strict regulations about the health and safety of employees while at work. Reputable organisations and groups often audit companies to check that safety nets, drills, and other preventative measures are being used. Employees' physical, emotional, and mental health are considered part of their safety and well-being. According to national regulations, businesses must construct legally enforceable employment contracts to avoid misunderstandings or cooperation. These agreements cover every aspect of employment and are approved by 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 Product Type
     • 3.2. Market Attractiveness Analysis By Application
     • 3.3. Market Attractiveness Analysis By Region
   • 4. Industry Trends
5. Market Dynamics
   • 1. Market Evaluation
   • 2. Drivers
     • 2.1. Rising demand in the automotive sector
   • 3. Restraints
     • 3.1. High production cost
   • 4. Opportunities
     • 4.1. Rising demand for renewable sources of energy
   • 5. Challenges
     • 5.1. Fiber-reinforced polymer composite challenges

6. Global Advanced Polymer Composites Market Analysis and Projection, By Product Type
   • 1. Segment Overview
   • 2. Fibers
   • 3. Resins
   • 4. Others
7. Global Advanced Polymer Composites Market Analysis and Projection, By Application
   • 1. Segment Overview
   • 2. Aerospace & Defense
   • 3. Construction
   • 4. Automotive
   • 5. Tanks & Pipes
   • 6. Others
8. Global Advanced Polymer 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 Polymer Composites Market-Competitive Landscape
   • 1. Overview
   • 2. Market Share of Key Players in the Advanced Polymer 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 Type Launches and Developments
     • 3.2. Partnerships, Collaborations, and Agreements
     • 3.3. Mergers & Acquisitions
     • 3.4. Expansions

10. Company Profiles
    • BASF SE
      • 1.1. Business Overview
      • 1.2. Company Snapshot
      • 1.3. Company Market Share Analysis
      • 1.4. Company Product Type Portfolio
      • 1.5. Recent Developments
      • 1.6. SWOT Analysis
    • Hexcel Corporation
      • 2.1. Business Overview
      • 2.2. Company Snapshot
      • 2.3. Company Market Share Analysis
      • 2.4. Company Product Type Portfolio
      • 2.5. Recent Developments
      • 2.6. SWOT Analysis
    • Solvay S.A.
      • 3.1. Business Overview
      • 3.2. Company Snapshot
      • 3.3. Company Market Share Analysis
      • 3.4. Company Product Type Portfolio
      • 3.5. Recent Developments
      • 3.6. SWOT Analysis
    • Arkema S.A.
      • 4.1. Business Overview
      • 4.2. Company Snapshot
      • 4.3. Company Market Share Analysis
      • 4.4. Company Product Type Portfolio
      • 4.5. Recent Developments
      • 4.6. SWOT Analysis
    • Toray Industries Inc.
      • 5.1. Business Overview
      • 5.2. Company Snapshot
      • 5.3. Company Market Share Analysis
      • 5.4. Company Product Type Portfolio
      • 5.5. Recent Developments
      • 5.6. SWOT Analysis
    • Mitsubishi Rayon Co. Ltd.
      • 6.1. Business Overview
      • 6.2. Company Snapshot
      • 6.3. Company Market Share Analysis
      • 6.4. Company Product Type Portfolio
      • 6.5. Recent Developments
      • 6.6. SWOT Analysis
    • Owens Corning Corporation
      • 7.1. Business Overview
      • 7.2. Company Snapshot
      • 7.3. Company Market Share Analysis
      • 7.4. Company Product Type Portfolio
      • 7.5. Recent Developments
      • 7.6. SWOT Analysis
    • TPT Composites
      • 8.1. Business Overview
      • 8.2. Company Snapshot
      • 8.3. Company Market Share Analysis
      • 8.4. Company Product Type Portfolio
      • 8.5. Recent Developments
      • 8.6. SWOT Analysis
    • Kemrock Industries and Exports Limited
      • 9.1. Business Overview
      • 9.2. Company Snapshot
      • 9.3. Company Market Share Analysis
      • 9.4. Company Product Type Portfolio
      • 9.5. Recent Developments
      • 9.6. SWOT Analysis
    • SGL Carbon SE
      • Business Overview
      • Company Snapshot
      • Company Market Share Analysis
      • Company Product Type Portfolio
      • Recent Developments
      • SWOT Analysis

List of Table

1. Global Advanced Polymer Composites Market, By Product Type, 2021–2029 (USD Billion)
2. Global Fibers, Advanced Polymer Composites Market, By Region, 2021–2029 (USD Billion)
3. Global Resins, Advanced Polymer Composites Market, By Region, 2021–2029 (USD Billion)
4. Global Others, Advanced Polymer Composites Market, By Region, 2021–2029 (USD Billion)
5. Global Advanced Polymer Composites Market, By Application, 2021–2029 (USD Billion)
6. Global Aerospace & Defense, Advanced Polymer Composites Market, By Region, 2021–2029 (USD Billion)
7. Global Construction, Advanced Polymer Composites Market, By Region, 2021–2029 (USD Billion)
8. Global Automotive, Advanced Polymer Composites Market, By Region, 2021–2029 (USD Billion)
9. Global Tanks & Pipes, Advanced Polymer Composites Market, By Region, 2021–2029 (USD Billion)
10. Global Others, Advanced Polymer Composites Market, By Region, 2021–2029 (USD Billion)
11. Global Advanced Polymer Composites Market, By Region, 2021–2029 (USD Billion)
12. North America Advanced Polymer Composites Market, By Product Type, 2021–2029 (USD Billion)
13. North America Advanced Polymer Composites Market, By Application, 2021–2029 (USD Billion)
14. USA Advanced Polymer Composites Market, By Product Type, 2021–2029 (USD Billion)
15. USA Advanced Polymer Composites Market, By Application, 2021–2029 (USD Billion)
16. Canada Advanced Polymer Composites Market, By Product Type, 2021–2029 (USD Billion)
17. Canada Advanced Polymer Composites Market, By Application, 2021–2029 (USD Billion)
18. Mexico Advanced Polymer Composites Market, By Product Type, 2021–2029 (USD Billion)
19. Mexico Advanced Polymer Composites Market, By Application, 2021–2029 (USD Billion)
20. Europe Advanced Polymer Composites Market, By Product Type, 2021–2029 (USD Billion)
21. Europe Advanced Polymer Composites Market, By Application, 2021–2029 (USD Billion)
22. Germany Advanced Polymer Composites Market, By Product Type, 2021–2029 (USD Billion)
23. Germany Advanced Polymer Composites Market, By Application, 2021–2029 (USD Billion)
24. France Advanced Polymer Composites Market, By Product Type, 2021–2029 (USD Billion)
25. France Advanced Polymer Composites Market, By Application, 2021–2029 (USD Billion)
26. UK Advanced Polymer Composites Market, By Product Type, 2021–2029 (USD Billion)
27. UK Advanced Polymer Composites Market, By Application, 2021–2029 (USD Billion)
28. Italy Advanced Polymer Composites Market, By Product Type, 2021–2029 (USD Billion)
29. Italy Advanced Polymer Composites Market, By Application, 2021–2029 (USD Billion)
30. Spain Advanced Polymer Composites Market, By Product Type, 2021–2029 (USD Billion)
31. Spain Advanced Polymer Composites Market, By Application, 2021–2029 (USD Billion)
32. Asia Pacific Advanced Polymer Composites Market, By Product Type, 2021–2029 (USD Billion)
33. Asia Pacific Advanced Polymer Composites Market, By Application, 2021–2029 (USD Billion)
34. Japan Advanced Polymer Composites Market, By Product Type, 2021–2029 (USD Billion)
35. Japan Advanced Polymer Composites Market, By Application, 2021–2029 (USD Billion)
36. China Advanced Polymer Composites Market, By Product Type, 2021–2029 (USD Billion)
37. China Advanced Polymer Composites Market, By Application, 2021–2029 (USD Billion)
38. India Advanced Polymer Composites Market, By Product Type, 2021–2029 (USD Billion)
39. India Advanced Polymer Composites Market, By Application, 2021–2029 (USD Billion)
40. South America Advanced Polymer Composites Market, By Product Type, 2021–2029 (USD Billion)
41. South America Advanced Polymer Composites Market, By Application, 2021–2029 (USD Billion)
42. Brazil Advanced Polymer Composites Market, By Product Type, 2021–2029 (USD Billion)
43. Brazil Advanced Polymer Composites Market, By Application, 2021–2029 (USD Billion)
44. Middle East and Africa Advanced Polymer Composites Market, By Product Type, 2021–2029 (USD Billion)
45. Middle East and Africa Advanced Polymer Composites Market, By Application, 2021–2029 (USD Billion)
46. UAE Advanced Polymer Composites Market, By Product Type, 2021–2029 (USD Billion)
47. UAE Advanced Polymer Composites Market, By Application, 2021–2029 (USD Billion)
48. South Africa Advanced Polymer Composites Market, By Product Type, 2021–2029 (USD Billion)
49. South Africa Advanced Polymer Composites Market, By Application, 2021–2029 (USD Billion)

List of Figures 

1. Global Advanced Polymer Composites Market Segmentation
2. Advanced Polymer 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 Polymer Composites Market Attractiveness Analysis By Product Type
9. Global Advanced Polymer Composites Market Attractiveness Analysis By Application
10. Global Advanced Polymer Composites Market Attractiveness Analysis By Region
11. Global Advanced Polymer Composites Market: Dynamics
12. Global Advanced Polymer Composites Market Share By Product Type (2021 & 2029)
13. Global Advanced Polymer Composites Market Share By Application (2021 & 2029)
14. Global Advanced Polymer Composites Market Share by Regions (2021 & 2029)
15. Global Advanced Polymer Composites Market Share by Company (2020)