Advanced Composites Market 2019 Industry Growth, Size, Share, Global Forecasts Analysis, Company Profiles, Competitive Landscape and Key Regions Analysis Research Report
Market Insights
Advanced Composites is a product that
offers exceptional strength to weight ratio and provides dimensional stability to
various infrastructural manifestations. Due to its strong frame yet light
weight, it has managed to work around all the demerits, its contenders come
with. The global advanced composites market is spanned across five key regions
in the world namely Asia Pacific, Europe, North America, Latin America and the
Middle East & Africa. Asia Pacific is projected to rule the market in the
world and is anticipated to continue its dominance during the forecast period
owing to growing use of thermoset resins in major industries such as
aeronautic, buildings and construction, energy, and others. China, Japan and
India are the leading players in this region due to the growing investment and
production of thermoset resins in heavy end industries.
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Segmentation
The Global Advanced Composites Market is
segregated on the basis of resin type and application. On the basis of type,
the market is further segmented into thermoset and thermoplastic resins. Among
these, thermoset resins segment is set to grow at a high rate as they offer
exceptional impact resistance and durability which has resulted in the
increasing use of thermoset resins in aerospace, energy, sports, and other
sectors and heavy end industries. On the basis of application, the market is
further classified into aerospace, transport, electronics, sports, energy,
construction and others. Of these, aerospace segment is predicted to hold the
major share in the market during the forecast period.
Key
Players
·
The 3M company
·
Axalta Coating Systems
·
LLC
·
PPG industries
·
TEIJIN LIMITED
·
Koninklijke Ten Cate
·
Hexcel Corporation
·
Toyota Motor Corporation
·
Cytec Solvay Group
·
Hexcel Corporation
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Regional Analysis
The Advanced Composites Market has
witnessed an exceptional growth in the European region due to growing demand of
low density materials in aviation, defense and automotive industries. Germany,
the U.K. and Italy are projected to be the leading players in this region owing
to an increasing use of epoxy and polyurethane resins in heavy end industries.
It is predicted that the thermoset resin segment is set to grow at a higher
CAGR during the forecast period.
An enormous growth has propelled the
North American region to witness a rapid demand of epoxy and polyurethane
resins in buildings and construction, oil & gas, energy, aviation, and
others. It is projected that the U.S., Canada and Mexico are going to be the
prominent players in this region during the forecast period. A surge in demand
is predicted in the segment due to growing production of fiber composites in
end use industries. The advanced composites market is predicted to witness a
remarkable growth in the Latin American countries such as Brazil, Argentina and
Uruguay due to growing penetration of thermoset resins in wind and turbine
industry. Additionally, the U.A.E, Saudi Arabia, Qatar in the Middle East &
Africa region are estimated to witness a remarkable growth in the market due to
increasing consumption of thermoset resins in oil & gas industries.
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