Advanced Composites Market to Reach USD 78.8 Billion by 2031 | Top key players - Covestro AG, DuPont, BASF SE.

The latest report published by DataM Intelligence highlights the growth prospects of Advanced Composites market. The industry expansion is majorly driven by developments in technology across the globe.

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The Global Advanced Composites Market reached US$ 35.3 billion in 2022 and is expected to reach US$ 78.8 billion by 2031, growing with a CAGR of 10.6% during the forecast period 2024-2031.

The Advanced Composites Market involves the use of high-performance materials, such as carbon fiber, fiberglass, and aramid, to create lightweight, durable products. These materials are widely used in industries like aerospace, automotive, and construction for their strength-to-weight ratio, corrosion resistance, and thermal stability. The market continues to grow due to increasing demand for efficiency and sustainability across various sectors.

Competitive Evaluation:

Companies covered in this report are Covestro AG, DuPont, BASF SE, DSM, Rhodia, SABIC, LANXESS, Teijin Ltd, Celanese Corporation, Toray Industries and Meyer Corporation.

The Advanced Composites Market analysis identifies a number of major market players. It enables companies to understand the strategies and partnerships used by other industry players to combat market competition. The comprehensive market report provides a fascinating microscopic look at the market. Corporations can detect the footprints of manufacturers by learning about demand, the global price of manufacturers, and the global benefit of manufacturing companies.

Key Development

On 12 April 2023, Toray Advanced Composites, a global leader in advanced composite materials, announced that it would showcase its recent advancements in composite material technologies at JEC World 2023, one of the industry's leading trade shows.

On 16 March 2023, Toray Advanced Composites received the prestigious NADCAP certification in Non-Metallic Materials Manufacturing - Thermoplastic Prepreg Manufacturing AC7124/6, becoming the first advanced composites company to achieve this recognition. This certification highlights the company's commitment to quality and excellence in manufacturing advanced composite materials.

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Advanced Composites Market Segments

The report covers the segmentation of the market into different segments based on various classifications such as applications, end users, product types, and others. The segmentation is divided into two sections, one for development and the other for different roles, needs, and behaviors.

By Type: Carbon Fiber Composites, Aramid Fiber Composites, S-Glass Fiber Composites, Other Fiber Composites.

By Resin: Polyamide, Polyurethane, Polypropylene, Polyethylene, Acrylonitrile-butadiene-styrene copolymer (ABS), Polyvinyl Chloride, Polycarbonate, Others.

By Process: Injection Molding, Filament Winding, Pultrusion, Others.

By End-User: Transportation, Aerospace & Defense, Wind Energy, Oil & Gas, Electrical & Electronics, Others.

Regional Assessment:

Regional analysis includes segmentation based on the geography that accentuates the recent and future demand for Advanced Composites market across North America, Europe, Asia-Pacific, Middle East & Africa, and South America. The study also focuses on the demand for each application segment over all the prominent regions.

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

In terms of geographical analysis, Advanced Composites Market report provides an in-depth view of:-

∎ Regional level break-up
∎ Leading growth rates
∎ Countries with the largest market share
∎ Market factors
∎ Latest developments
∎ Industry challenges
∎ Regulatory policies
∎ Player strategies

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This report provides a 360-degree synopsis of the competitive scenario of the Advanced Composites industry. It has enormous awareness joined to the ongoing item and technical improvements in the business sector. It has a thorough analysis of the impact of the potential future development of these headways, a wide-ranging review of those extensions available for future growth.

Benefits of the Report:

➡ A descriptive analysis of demand-supply gap, market size estimation, SWOT analysis, PESTEL Analysis and forecast in the global market.

➡ Top-down and bottom-up approach for regional analysis

➡ Porter's five forces model gives an in-depth analysis of buyers and suppliers, threats of new entrants & substitutes and competition amongst the key market players.

➡ By understanding the value chain analysis, the stakeholders can get a clear and detailed picture of this Market

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