Harrisburg, NC -- (SBWire) -- 01/28/2019 --Global Advanced Composite Materials Market Insights, Forecast To 2023; this report presents the worldwide Advanced Composite Materials market size (value, production and consumption), splits the breakdown (data status 2013-2019 and forecast to 2023), by manufacturers, region, type and application.
This report recognizes that in this rapidly-evolving and competitive environment, up-to-date Marketing information is essential to monitor performance and make critical decisions for growth and profitability. It provides information on trends and developments, and focuses on Markets and materials, capacities and on the changing structure of the Advanced Composite Materials.
SCOPE OF THE REPORT:
Report evaluates the growth rate and the Market value based on Market dynamics, growth inducing factors. The complete knowledge is based on latest industry news, opportunities and trends. The report contains a comprehensive Market analysis and vendor landscape in addition to a SWOT analysis of the key vendors.
The advanced composite materials market is expected to register a moderate growth during the forecast period, 2018 to 2023. Europe is dominating the market, accounting for around 30% of the global market in 2017.
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Increasing Demand for Lightweight Materials in the Aerospace & Defense Industry
Advanced composite materials are used in various aerospace and defense applications, owing to their properties, such as high strength, stiffness, heat & chemical resistivity, electrical conductivity, and various other thermal and chemical properties, etc. They are widely used in ballistic protective applications, such as, bullet proof vests, protective apparel, such as gloves, motorcycle protective clothing, and hunting gaiters. Due to their light yet stiff design structures, they are used in the interior of an airplane or a jet, the rotor blades of a helicopter, aircraft seats, and aircraft brakes. Many countries are focusing in growing a domestic defense industry while manufacturing hardware locally. These factors are expected to drive the demand for advanced composite materials, during the forecast period.
Increasing Demand from Automotive Industry: Advanced composite materials have experienced a widespread use in the automotive industry owing to their ever-higher strength-to-weight ratios, corrosion resistivity, and workability features. They are replacing metal in various automotive applications due to their light-weight but tough features, which contributes to lesser fuel consumption. Automotive manufacturers, such as BMW, Mercedes-Benz, McLaren, Chevrolet, and Lamborghini, amongst several others have committed themselves to increase the usage of advanced composite materials in their vehicles as they contribute to the reduction in weight. Therefore, the growing usage is boosting the demand for advanced composite materials during the forecast period.
Key Developments in the Advanced Composite Materials Market:
December 2017: Teijin Aramid announced its intention to increase the production capacity for its Twaron super fiber by more than 25%. This additional capacity will become available within the next five years.
The Following Manufacturers Are Covered In This Report:
Mitsubishi Chemical Carbon Fiber and Composites, Inc., TORAY INDUSTRIES, INC., Kolon Industries Inc., and. SGL Group, among others.
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Market segmented by Regions: Geographically, this report is segmented into several key Regions, with production, consumption, revenue (million USD), and market share and growth rate of Global Advanced Composite Materials Market these regions, from 2019 to 2023 (forecast), covering:
North America (United States, Canada, Mexico)
Asia-Pacific (China, India, Japan, South Korea, Australia, Indonesia, Malaysia, Philippines, Thailand, Vietnam)
Europe (Germany, France, UK, Italy, Russia, Rest of Europe)
Central & South America (Brazil, Rest of South America)
Middle East & Africa (GCC Countries, Turkey, Egypt, South Africa, Other)
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Reasons to Purchase Advanced Composite Materials Market Report:
-Understand the impact of growth of Advanced Composite Materials, on the market studied
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The research provides answers to the following key questions:
-What will be the market size and the growth rate in 2023?
-What are the key factors driving the market?
-Who are the key market players and what are their strategies in the market?
-What are the key market trends impacting the growth of the market?
-What trends, challenges and barriers are influencing its growth?
-What are the market opportunities and threats faced by the vendors in the market?
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Advanced Composite Materials Market Competitive Analysis Based on Types, Application and Precise Outlook - 2019 to 2023