The global Advanced Polymer Composites Market share report provides numbers for applications and regional segments of the industry covering historical as well as forecast data for decision makers.
Global Advanced Polymer Composites Market is set to generate a significant momentum in the years ahead, primarily driven by the rising demand for polymer composites from the aerospace industry. The product finds its major application in the manufacturing of wings, ailerons, floor beams, landing gear doors, engine nacelles, elaborators, and other interior parts of an aircraft.
Over the past few years, significant growth in passenger and commercial aviation sector has left an influential impact in changing the advanced polymer composites market dynamics. Statistics, such as the projection of growth rate of global passenger air traffic at a CAGR of 5% over 2016-2024, and rise in commercial aircraft deliveries which are estimated to surpass 1500 units by 2024, is depicting clear signs of growth and advancement in overall advanced polymer composites industry.
Reasons to Buy This Report:
1. Advanced Polymer Composites Market size & share forecast by product & application 2016-2024
2. Growth drivers, pitfalls & industry challenges
3. Key Advanced Polymer Composites Market growth opportunities & emerging business models
4. Competitive benchmarking with market share analysis and company profiles
The differentiating factor of Advanced Polymer Composites Market report by Global Market Insights, Inc. when compared with other, similar syndicated research studies includes a 360-degree synopsis of trends for a period of more than 10 years including historic information as well as future outlook.
With a coverage of 40% of the overall advanced polymer composites industry share in 2015, aviation parts emerged as the leading application segment in this market. An upswing in the preference of air transportation mode as a consequence of upgraded consumer lifestyles has also favored the advanced polymer composites industry expansion. Growing deployment of auto parts such as tires, engines, body panels, instrument panels and windows have also resulted in an increase in global product sales. The advanced polymer composites market share from auto parts application is anticipated to grow at a rate of 7% over 2016-2024.
High material strength capabilities of advanced polymer composites have allowed a strong deployment of the product in wind energy farms. This is also considered as one of the main drivers stimulating the advanced polymer composites market size. The soaring demand for renewable energy sources over past few years has shown a major swing in the usage of advanced polymers as they provide high stiffness and strength to the wind blades. The energy generated by wind power generation plants contributed around 5% to the total power generation. Over the forthcoming years, a significant surge in this share will positively impact the growth of advanced polymer composites industry.
These advanced polymer composites are manufactured by combining multiple materials having different characteristics. The two key components include a polymer matrix and a reinforcing fiber material which gives the polymer composites its strength and stiffness. The product landscape of this industry comprises resins and fiber. Holding a revenue of over USD 3 billion in 2015, the global resins advanced polymer composites market accounted for 35% of the overall industry share in the same year.
Considering the global status, APAC advanced polymer composites market is poised to register the highest growth in the coming seven years. Upgraded aerospace industry of China and India can be considered as the major factor driving the regional market trends.
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.
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.
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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.