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According to the latest report by IMARC Group, titled “Advanced Composites Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on advanced composites market share. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global advanced composites market is expected to exhibit a CAGR of 10.4% during 2022-2027.
Advanced composites, or fiber-reinforced plastics (FRP), are engineered mixtures of high-performance and chemically bonded materials. The composites are manufactured by combining reinforcement, such as carbon fiber, aramid fiber and fiberglass, for enhanced compressive and tensile strength. Pultrusion, injection molding, hand layup, compression molding and filament winding are some commonly used manufacturing processes. Advanced composites are strong, lightweight and exhibit high design flexibility, dimensional stability and thermal and electrical conductivity. As a result, they find extensive applications across automotive, electronics, energy, marine, aerospace and aviation industries.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
The global advanced composites market is primarily being driven by the increasing product adoption in the automotive and aerospace industries. Advanced composites are widely used for manufacturing aircraft components, such as landing gears, wing trailing edge panels and rudders. Moreover, the integration of robotic technologies for the manufacturing of advanced composites and handling sheets, lifting and placing them into a mold, are contributing to the market growth. In line with this, the widespread product utilization in the production of sports equipment, such as golf shafts, snowboards and tennis racquets, is also favoring the market growth. Other factors, including the increasing expenditure capacities of the consumers and extensive utilization of advanced composites for the manufacturing of protective bullet-proof vests, helmets and ballistic devices, are anticipated to drive the market toward growth.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
Our report has categorized the market based on region, resin type, type of fiber, manufacturing process and application.
Breakup by Type of Fiber:
Key highlights of the report:
Note: We are updating our reports, If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Competitive landscape, etc. Click request free sample report, the report will be delivered to you in PDF format via email within 24 to 48 hours after the payment confirmation.
Other Reports of IMARC Reports:
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Pentaerythritol Market: https://www.imarcgroup.com/pentaerythritol-market
Siding Market: https://www.imarcgroup.com/siding-market
Automotive coolant Market: https://www.imarcgroup.com/automotive-coolant-market
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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