Advanced Composites Market Lucrative in End-Use Industries & growth During Perio

Posted by Priya on November 21st, 2018

Advanced Composites Market to 2023

It is projected that the Advanced Composites Market is set to grow at a higher CAGR owing to its growing demand observed in end use industries such as oil & gas, buildings and construction, automotive, aerospace, electronics, marine, and others. Advanced composites are a combination of polymer materials inserted in a resin matrix. They are also called polymer matrix composites. They are known for their extraordinary strength, mechanical resistance, stiffness and modulus of elasticity. Excellent dimensional ability, thermal conductivity, lightweight and electrical properties are the important trends and factors promoting the market confidently.

Advanced Composites Market- Top 10 Global key Players & Their Strategy Some of the prominent players functioning in the Global Advanced Composites Market: The 3M company (U.S.A.),Axalta Coating Systems, LLC (U.S.A.), PPG industries (U.S.A.), TEIJIN LIMITED (Japan), Koninklijke Ten Cate bv (the Netherlands), Hexcel Corporation( U.S.A.), Toyota Motor Corporation( Japan), Cytec Solvay Group( U.S.A.), Hexcel Corporation( U.S.A.),among others.

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Thermoset segment is further sub-divided into epoxy resins, polyurethanes, phenolic and amino resins. It is predicted that epoxy resin segment is set to grow at a higher CAGR due to its growing consumption in end use industries. Applications segment further differentiated into aerospace, transport, electronics, sports, energy, construction and others. Among these, aerospace is projected to be the major segment in this market.

Competitive Analysis

As per our Market Analysis, the Advanced Composites Market is segregated into type and application. The market by type is further categorized into thermoset and thermoplastic resins. Of these, thermoset resins are further sub-divided into epoxy, polyurethanes, phenolic and amino resins. Thermoset resins are formed by curing reaction that occurs at 200 degrees celsius. Once thermoset resins are formed, they can’t be remolded or reshaped.

Segmentation Analysis

The Global Advanced Composites Market is segmented into resin type and application. On the basis of resin type, the market is classified into thermoset and thermoplastic. Among these, thermoset segment is estimated to hold the major share in the market owing to its excellent stiffness, light weight and durability features. Global Advanced Composites Market 2018 to 2023 focus on business Intelligence for revenue-generating processes, market research future illustrated some of the typical ways that is used to improve key revenue generation processes. Fundamentally, Advanced Composites market analysis, new technology, scope, stake, progress, trends and opportunities are about using detailed and specific business information about client.

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Advanced Composites Market – Regional Analysis          

The Advanced Composites Market is segregated into five key regions namely Asia Pacific, North America, Europe, Latin America and the Middle East & Africa. Among these, Asia Pacific is projected to hold the major share in the market due to growing production of thermoset resins in major end industries such as buildings and construction, automobile, sports, and others. Countries such as China, Japan and India have become apparent as the leading players in this region. The growing demand from the major industries has propelled Advanced Composites Market to witness a higher CAGR during the forecast period, 2017-2023.