The advanced composites market is expected to expand at a CAGR of 10.89% during the above-mentioned forecast period.
The rising demand for commercial flights and fighter jets is expected to boost the growth of the global advanced composites market.
Some of the factors that may hinder the growth of the advanced composites market include-
The stringent regulations and climate change may hamper the growth of the advanced composites market during the forecast period.
However, restraints aside, the global advance composite market is expected to thrive due to the increasing demand for renewable energy across regions.
The global advanced composites market is highly competitive due to the presence of many prominent players.
Many players are turning their focus towards product development for the aerospace and defence sectors, owing to their substantial growth and increasing demand for fighter planes, commercial planes, and other safety vehicles.
Further, these key players are adopting strategies such as new product development, and collaborations in order to penetrate into the international market.
Some of the existing prominent players in the global advanced composites market include-
- Honeywell International Inc
- Hexcel Corporation
- BASF SE
- Honeywell International Inc.
- HYOSUNG CHEMICAL
- SGL Carbon
- Molded Fiber Glass Companies
- Advanced Composites Inc
- Formosa Plastics Corporation
- Renegade Materials Corporation
- First COMPOSITES GmbH
- ATLAS COMPOSITE TECHNOLOGIES
Product Types Disposition (Revenue in USD billion)
- Carbon Fiber Composites
- Aramid Fiber Composites
- S- Glass Composites
- Advanced Composites
End-User Disposition (Revenue in USD billion)
- Aerospace & Defense
- Consumer Goods
Resin Type Disposition (Revenue in USD billion)
- Advanced Thermosetting Composites
- Advanced Thermoplastic Composites
Manufacturing Process Disposition (Revenue in USD billion)
- Compression Molding Process
- Hand Layup/ Spray Layup Process
- Resin Transfer Molding Process
- Filament Winding Process
- Injection Molding Process
- Pultrusion Process
Read More: https://www.beetribune.com/advanced-composites-market-analysis/