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Advanced Polymer Composites Market 2024 BASF, ARKEMA S.R.L.Owens Corning, 3B-FIBREGLASS SPRL, CRISTEX LIMITED, Solvay, Toray Industries, Inc.
Advanced Polymer Composites Market
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The overall passenger traffic is expected to grow at a rate of 5% in the coming years. Furthermore, in 2013, the commercial aircraft delivery was close to 1200 which is anticipated to surpass 1500 units over the projected timespan. The aforementioned factors are expected to make significant contribution towards advanced polymer composites market by 2024.
Increasing dependency on renewable sources for energy generation is primarily due to consistently exhausting hydrocarbon reserves coupled with its adverse impact on the environment which has led to pressing need for wind, solar energy generation, etc. to meet energy demand across various end-user applications. This propelled product as it is extensively used in manufacturing wind mill parts due to its excellent properties such as stiffness, lighter weight, etc. in the previous few years.
For example, the overall wind generation capacity was around 350,000 mw and is expected to reach over 700,000 mw which will subsequently drive advanced polymer composites market by 2024.
Product inefficiency in terms of cost compared to its existing alternatives is probable to hamper advanced polymer composites market by 2024.
In 2016, the overall resin advanced polymer composites market was valued at over USD 3.5 billion which is expected to boost in the coming years. This is attributed to superior resin properties including excellent sticking ability, resistance to water, etc. which has led to broad application base in manufacturing auto parts and aircraft components.
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Fiber product segment contributed a major chunk of the total advanced polymer composites market in 2016. The fiber advanced polymer composites Market is divided into glass, carbon and aramid. Glass exhibit vivid properties such as stiffness, elasticity, transparency, steadiness, etc. making it desirable for widespread application across various end-user industries including textile, tire & reinforced plastic, automobile, etc. which will drive the advanced polymer composites Market for glass segment by 2024.
The global advanced polymer composites market for aviation industry accounted for over 40% in 2016. This is attributed to rapidly growing passenger and commercial aviation industry due to improved consumer lifestyle which will subsequently make a positive influence on the advanced polymer composites market by 2024. In addition, air transportation mode is becoming increasingly desirable due to lesser time and efficient services which will drive the advanced polymer composites market in the coming years.
North America contributed a major portion of the total advanced polymer composites market which accounted for over 35% in 2016. Extensive user base for automobile industry and rapidly growing wind energy production in the region will boost product demand which will subsequently drive advanced polymer composites market by 2024.
Key advanced polymer composites market share contributors are BASF, Arkema, Cristex, SGL Carbon, Solvay, Mitsubishi Rayon and Owens Corning Corporation.
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Partial Chapter of the Table of Content:
Chapter 3. Advanced Polymer Composites Industry Insights
3.1. Industry segmentation
3.2. Industry size and forecast, 2013 - 2024
3.3. Industry ecosystem analysis
3.3.1. Vendor matrix
3.3.2. Distribution channel analysis
3.4. Industry impact forces
3.4.1. Growth drivers
3.4.1.1. Increasing product demand from aerospace industry
3.4.1.2. Product applications in wind energy generation
3.4.2. Industry pitfalls & challenges
3.4.2.1. High production cost
3.5. Growth potential analysis
3.6. Regulatory trends
3.6.1. U.S.
3.6.2. Europe
3.6.3. China
3.7. Porter’s analysis
3.8. Company market share analysis, 2015
3.8.1. Strategy dashboard
3.9. PESTEL analysis
3.10. Regional price trends
3.10.1. Cost structure analysis
3.10.2. Raw material trends
Chapter 4. Advanced Polymer Composites Market, By Product
4.1. Advanced polymer composites market share by product, 2015 & 2024
4.2. Resin
4.3. Fiber
Chapter 5. Advanced Polymer Composites Market, By Application
5.1. Advanced polymer composites market share by application, 2015 & 2024
5.2. Conductors
5.3. Autoparts
5.4. Tanks & pipes
5.5. Aviation parts
5.6. Boat building
5.7. Wind blades
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