Europe Advanced Composites Market Outlook Industry Share, Growth, Drivers, Emerging Technologies, and Forecast Research Report 2028
The 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 with a CAGR of 7.0% in the forecast period of 2021 to 2028
and expected to reach USD 10,194.13 million by 2028. An escalation in
demand for lightweight and exceedingly durable materials in the aerospace and
automotive industries is the factor growing the demand for advanced composites
market in the forecast period.
The growing demand for intricate and compact designs,
ever-increasing material requirements and cost constraints might even push the
requirement of advanced composites material even further and thereby invariably
driving the advanced composites market growth. The climate change and its
associated stress on eco-friendly lifestyles and production rules could
restrain the growth of the advanced composites market. The renewable energy is
the need of the hour and the development in the market would be a good
opportunity for the advanced composites market to achieve its true potential as
the composites are required to manufacture and produce the gadgets or equipment
necessary to generate and store the carbon-neutral energy. The hardship
experienced in recycling is a challenge for the advanced composites market as
the fact results in some restriction being exerted by government which could
stun the growth of the advanced composites market.
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Market
Analysis and Insights
The advanced composites market is segmented into four notable
segments which are based on the type, resin, manufacturing process and
end-user. The growth among segments helps you analyse niche pockets of growth
and strategies to approach the market and determine your core application areas
and the difference in your target markets.
- On the basis of type, the advanced composites
market is segmented into carbon fiber composites, S-glass composites,
aramid fiber composites and others. In 2021, the carbon fiber composites
segment is dominating as carbon fiber composites has great strength and
high resistance with helps to increasing demand in automotive structure
products
- On the basis of resin, the advanced composites
market is segmented into advanced thermoplastic and advanced
thermosetting. In 2021, the advanced thermoplastic segment is dominating
as in Europe, due to increasing demand for the carbon fiber which have
high strength and high resistance to cracking which increases its demand
in the manufacturing of the automotive structure products.
- On the basis of manufacturing process, the advanced
composites 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 and others. In 2021, the automated tape laying (ATL) and automated
fiber placement (AFP) segment is dominating due to its manufacturing
process has helps to increasing for the impregnated of plastics and fibers
to make the composites material.
- On the basis of end-user, the advanced composites
market is segmented into aerospace and defense, energy and power, automotive,
sports equipment, civil engineering, electrical and electronics, healthcare and
others. In 2021, the aerospace and defense segment is dominating as the
increasing demand of security jet planes and fighter planes makes
aerospace and defense to dominate.
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Europe Advanced
Composites Market Scope
The advanced composites market is segmented into four
notable segments which are based on the type, resin, manufacturing process and
end-user. The growth among segments helps you analyse niche pockets of growth
and strategies to approach the market and determine your core application areas
and the difference in your target markets.
- On the
basis of type, the advanced composites market is segmented into carbon
fiber composites, S-glass composites, aramid fiber composites and others.
In 2021, the carbon fiber composites segment is dominating as carbon fiber
composites has great strength and high resistance with helps to increasing
demand in automotive structure products.
- On the
basis of resin, the advanced composites market is segmented into advanced
thermoplastic and advanced thermosetting. In 2021, the advanced
thermoplastic segment is dominating as in Europe, due to increasing demand
for the carbon fiber which have high strength and high resistance to
cracking which increases its demand in the manufacturing of the automotive
structure products.
Competitive Landscape and Europe Advanced
Composites Market Share Analysis
The advanced composites market competitive landscape
provides details by competitor. Details included are company overview, company
financials, revenue generated, market potential, investment in research and
development, new market initiatives, production sites and facilities, company
strengths and weaknesses, product launch, product trials pipelines, product
approvals, patents, product width and breadth, application dominance,
technology lifeline curve. The above data points provided are only related to
the company’s focus related to advanced composites market.
The major players
covered in the silicon nitride market report are
TEIJIN LIMITED,
Mitsubishi Chemical Holdings Corporation, Koninklijke Ten Cate bv., Huntsman
International LLC, Solvay, Hexcel Corporation, Hexion, BASF SE, DuPont,
Honeywell International Inc., Henkel AG & Co. KGaA, SGL Carbon, HYOSUNG
CHEMICAL, Owens Corning, Formosa Plastics Corporation, Strata Manufacturing
PJSC, Renegade Materials Corporation, Advanced Composites Inc, Airborne, among
other and domestic players. DBMR
analysts understand competitive strengths and provide competitive analysis for
each competitor separately.
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