Advanced Composites Market Revenue Analysis Report with Future Business Scope and New Investment Plans by 2031

Allied Market Research has recently published an insightful report titled, "Advanced Composites Market by Product Type (Aramid Fiber, Carbon Fiber, Glass Fiber), by Resin Type (Thermoset, Thermoplastic), by End-Use Industry (Aerospace and Defense, Automotive, Electrical and Electronic, Wind Energy, Oil and Gas, Sporting Goods, Marine, Medical, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031." The report reveals that the global advanced composites industry achieved a valuation of $34.0 billion in 2021 and is anticipated to reach $88.7 billion by 2031, marking a remarkable CAGR of 10.2% from 2022 to 2031. The comprehensive analysis covers shifting market trends, top segments, key investment areas, value chain dynamics, regional landscapes, and the competitive scenario.

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Drivers, Restraints, and Opportunities

The global advanced composites market is propelled by a surge in demand for carbon fiber and S-glass fiber composites in the aerospace and defense industry. The increasing need for carbon fiber composites in diverse end-use sectors, including civil engineering, medical, and pipes & tanks, coupled with industrialization in emerging markets like China, India, and Japan, contribute to market growth. However, challenges such as the high cost of advanced composites and the availability of substitutes hinder market expansion. Nevertheless, new technological advancements in the wind energy sector and other industries, along with rising auto sales, present promising growth opportunities in the coming years.

Covid-19 Scenario

The Covid-19 pandemic has significantly impacted two major markets for advanced composites, namely commercial aviation and thermoplastics. Production levels in 2020 experienced unprecedented shrinkage.

The aerospace industry, particularly Boeing and Airbus, faced severe challenges due to governmental restrictions and reduced consumer travel frequency.

𝐃𝐨 𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 https://www.alliedmarketresearch.com/purchase-enquiry/11922

Market Segmentation

Product Type:

The carbon fiber segment dominated the market in 2021, contributing to three-fifths of the global advanced composites market and is expected to maintain leadership with a CAGR of 10.3% from 2022 to 2031.
The thermoplastic segment held the largest market share in 2021 and is projected to maintain dominance with the largest CAGR of 10.3% from 2022 to 2031.
End-Use Industry:

The aerospace and defense segment held the largest market share in 2021 and is expected to maintain dominance with the largest CAGR of 10.5% from 2022 to 2031. The adoption of advanced composites in new-generation military aircraft components drives this growth.
Region:

Asia-Pacific led the market in 2021, capturing nearly two-fifths of the global advanced composites market and is anticipated to maintain its dominance in terms of revenue in 2031.
North America is expected to manifest the fastest CAGR of 10.3% during the forecast period due to high demand for advanced composites in aerospace, automotive, and wind energy industries.

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Leading Market Players

Solvay
Hexcel Corporation
SGL Carbon
Momentive
ST Advanced Composites
TEIJIN LIMITED
Toray Industries, Inc.
Huntsman International LLC
DuPont
Owens Corning
The report thoroughly analyzes these key players in the global advanced composites market, shedding light on their business performance, operating segments, product portfolios, and recent developments. It also highlights strategies such as expansion, new product launches, partnerships, and others adopted by these players to enhance market penetration and strengthen their industry position.

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