Advanced Polymer Composites Market Growth Analysis By Top Key Players - Owens Corning, Arkema, Cristex, 3B-Fibreglass, Solvay, SGL Carbon, Toray Industries, Mitsubishi Rayon, Cytec, Hexcel, TPI Composites & More

The advanced polymer composites market has gained remarkable proceeds from the aerospace industry owing to the need for lightweight parts that are reliable, durable and are resistant to abrasions during flight operations. These composites are strong, have excellent fatigue properties and are suitable for manufacturing aircraft wings, rudders, landing gear doors, engine parts and several interior components. Growing concern regarding the deteriorating environmental conditions have shifted the focus of aircraft manufactures towards reducing the overall aircraft weight for improving fuel efficiency and subsequently cutting down on fossil fuel consumption. To attain this objective, companies producing aviation parts have turned towards the advanced polymer composites market for developing light and durable components.

MarketStudyReport.com Adds New Advanced Polymer Composites Market 2016 – 2024 research report providing information and data By Product, By Application, Industry Analysis, Regional Outlook, Growth Potential, Trends, Competitive Market Share & Forecast spreading across 154 Pages with table and figures in it.

Advanced Polymer Composites Market Research Report for the period of 2016-2024 that shows the growth of the market is rising at a 7% CAGR to 2024.

Robust growth in the aerospace industry, including both civil and commercial are prime factors stimulating advanced polymer composites market share in recent years. The product offers superior properties including strength and abrasion resistance, which makes it suitable to find applications in aircraft part manufacturing. In 2006, the overall revenue passenger kilometers (RPK) was more than 4 billion and is poised to exceed 15 billion RPK by 2033. In addition, enormous backlogs in the aircraft manufacturing, reduced air fares and escalating air transportation industry will stimulate product demand by 2024.

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Global advanced polymer composites market size is also influenced by growth indicators from the end-user industries. Global vehicle manufacturing in 2013 was roughly around 87 million units and likely to surpass 130 million units over the projected timeframe. Socio economic factors such as improved lifestyles and increasing disposable income has substantially propelled the automotive sales across the globe. The product is widely used in auto parts manufacturing owing to its high mechanical strength accompanied with low weight and flexibility. It is used in manufacturing tires, body panels and windows.

Drifting focus towards renewable sources for power generation will positively boost product demand for manufacturing blades used in wind energy plants. In addition, the global installed wind capacity is likely to observe growth more than 12% between 2016 and 2024, particularly due to decreasing fossil fuel dependency for energy generation. However, the advanced polymer composites market size is negatively influenced in the recent years because high product cost in comparison with prevailing counterparts in the business. For instance, steel price in 2015 was roughly USD 1 per kilo, whereas, carbon fiber price was close to USD 35 per kilo.

North America advanced polymer composites market size was close to USD 3 billion. Drifting regional trend towards wind energy generation will positively influence of the product demand. Additionally, robust aerospace industry in the U.S. will complement regional growth by 2024. Asia Pacific is analyzed to be the fastest growing region in the coming. The region accounts for more than 35% of the global new aircraft demand, which is the major factor propelling regional growth.

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Fiber led the overall advanced polymer composites market size for 2015. Carbon fiber due to its outstanding tensile strength and modulus of rigidity is used in the automotive and aerospace industry. Glass fiber offers high characteristics such as transparency, chemical resistance, hardness and flexibility, which makes it for applications in tires & reinforced plastics, boat hulls & seats, furnishing fabrics, apparels, garments and exhaust nozzles.

Global advanced polymer composites market size for aviation parts was more than 3.5 billion. Strong growth in the aerospace industry across the globe will stimulate product demand in the coming years. In addition, autoparts are likely to observe growth more than 7% over the estimated period. Escalating commercial and personal vehicle demand across the globe will positively influence the overall advanced polymer composites market size.

Advanced polymer composites market share was fragmented with key industry contributors accounting for less than 20% of the business. Key companies participating in the advanced polymer composites market include BASF, Owens Corning, Arkema, Cristex, 3B-Fibreglass, Solvay, SGL Carbon, Toray Industries, Mitsubishi Rayon, Cytec, Hexcel and TPI Composites.

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Outer Scope of this Report: A rise in air traffic throughout the world has augmented the demand for new aircrafts, attributed to the increasing disposable income of middle-class population, growing international trade and the growth of the tourism industry. Several new airlines have emerged over the past few years and contributed to the expansion of the global aviation industry, while competitive pricing has enabled airlines to lower air fares and attract more passengers. Boeing, the world’s leading aircraft manufacturer, recently stated that the demand for new passenger jets will reach nearly 42,730 by 2037, with a steady annual growth, and the total market valuation of these planes will be around USD 6.3 trillion. The figures represent the large amount of parts that will be required for manufacturing aircrafts and a significant portion of these components can be expected to consist of advanced polymer composites.

Related Report:

United States Advanced Polymer Composites Market Report 2017

In this report, the United States Advanced Polymer Composites market is valued at USD XX million in 2016 and is expected to reach USD XX million by the end of 2022, growing at a CAGR of XX% between 2016 and 2022.

https://www.marketstudyreport.com/reports/united-states-advanced-polymer-composites-market-report-2017/?utm_source=RR-PSR

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