Advanced Polymer Composites Market Global Trends 2016 to 2024, Future Growth & Industry Drivers

Advanced Polymer Composites Market graph will display an upward swing, driven by its extensive use in the aviation sector subject to exceptional product features such as abrasion resistance and robustness. Polymer composites are used to manufacture aircraft components, owing to which they find applications in commercial and passenger aviation sectors. They are also used to manufacture wind blades that are utilized in wind energy production.

In fact, overall power generating capacity of wind blades, which was 3,00,000 MW, is likely to hit 7,50,000 MW by 2024. The escalating usage of composites to manufacture wind blades and the mounting wind energy requirement will further boost the growth of advanced polymer composites market. According to Global Market Insights, Inc.,” Advanced Polymer Composites Industry revenue will probably surpass USD 16 billion by 2024, growing at a CAGR of 7% over 2016-2024.”

Global Market Insights has a new study based report titled " Advanced Polymer Composites Market Size By Product (Resin [Epoxy, Phenolic, Polyester], Fiber [Carbon, Glass, Aramid]), By Application (Conductors, Autoparts, Tanks & Pipes, Aviation Parts, Boat Building, Wind Blades), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, GCC), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024".

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The report offers all-inclusive analysis of:

1 Market structure
2 Factors restraining market growth
3 Market growth drivers
4 Opportunities and challenges
5 Market estimations and forecast for projected period

Global advanced polymer composites market size is primarily driven by increasing product demand from the aerospace industry. Superior mechanical properties such as stiffness, strength, abrasion resistance and excellent fatigue, of the product make it suitable to find applications in the aerospace industry.

The product is majorly used in manufacturing wings, engine nacelles, elaborators, ailerons, floor beams, rudders, landing gear doors and other interior components of the aircraft due to its excellent strength along with reduced weight, which helps in improving the aircraft operational efficiency. Robust growth in the passenger and commercial aviation industry, particularly due to improving consumer lifestyles dynamics along with reduced air fares.

For instance, the global passenger air traffic is projected to witness growth more than 5% over the projected timeframe. In addition, the overall large commercial aircraft delivered in 2013 were approximately 1200 units and is likely to exceed 1500 units by the end of 2024. These abovementioned trends shall positively boost the global advanced polymer composites market size in the coming years.

The Advanced Polymer Composites Market Report Consists of,

1. Methodology and Scope
2. Executive Summary
3. Advanced Polymer Composites Market Industry Insights

3.1 Industry segmentation
3.2. Industry size, forecast and growth expectations, 2016 - 2024
3.3. Industry ecosystem analysis
3.4. Raw material insights
3.5. Technology insights

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3.6. Regulatory framework
3.7. Industry dynamics
3.8. Key growth opportunities
3.9. Porter's analysis
3.10. Company market share, 2015
3.11. PESTEL analysis
3.14. Regional price trends

4. Advanced Polymer Composites Market Product Insights

The global resin advanced polymer composites market size was over USD 3 billion in 2015. Epoxy, phenolic and polyester are the major resins type used in the industry. Epoxy is high performance resins and thus have widespread application such as aviation parts and boat building. For instance, superior adhesive properties and high water resistance of the product makes it desirable for boat building applications. Phenolic resins possess high flame & electric resistance and superior mechanical strength and are thus used in metal bonding, carbon and electrical materials.

5. Advanced Polymer Composites Market Application Insights

The overall advanced polymer composites market share for aviation part led the business and accounted for more than 40% of the total share in 2015. Superior mechanical characteristics of the product makes it suitable to find applications in the aerospace industry. The global aviation industry, including both civil and commercial, is forecast to experience strong gains over the projected timeframe on account of improving consumer lifestyles, which is resulting in improved air traffic in the recent years. Furthermore, increasing air transportation mode in order to reduce time required for good delivery will complement industry growth by 2024.

6. Advanced Polymer Composites Market Regional Insights

North America led the overall advanced polymer composites market share and accounted for more than 35% of the global business share in 2015. Prevalence of massive customer base for automotive is the major factor contributing towards business growth. The region has substantial wind energy generation which is analyzed to boost product. In addition, the region has substantial number of customer for entertainment boats such as yachts, which may further boost industry growth in the region.

Asia Pacific is likely to observe highest growth between 2016 and 2024. Increasing automotive sales in the region due to improved consumer spending power, elevating aerospace industry in China & India and robust growth in the construction business are the factors contributing regional growth over the past few years.

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7. Competitor Profiles

The global advanced polymer composites market share was highly fragmented due to presence several small industry share contributors. In addition, the key product manufacturers held for less than 20% of global business share in 2015. Some of the key industry participants are BASF SE, Arkema S.A., Owens Corning Corporation, 3B-Fibreglass sprl, Cristex Ltd, SGL Carbon SE, Kemrock Industries and Exports Limited, Solvay S.A., Mitsubishi Rayon Co. Ltd., Toray Industries Inc., TPI Composites Inc., Koninklijke Ten Cate N.V., Cytec Industries Inc. and Hexcel Corporation. Advanced polymer composites market share contributors are involved in strategic mergers and acquisitions in order to upscale their global presence. For instance, in 2014, Toray Industries acquired Zoltek Companies, which is a major carbon fiber manufacturer.

About Global Market Insights, Inc.:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
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Email: sales@gminsights.com
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