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Advanced Composites Market is predicted to witness a higher CAGR due to its growing use in End Use Industries

Advanced Composites Market is predicted to witness a higher CAGR due to its growing use in End Use Industries

Advanced Composites Market
Global Advanced Composites Market Information- by Resin Type (Thermosets and Thermoplastics), by Application (Aerospace, Transport, Electronics, Sports, Energy, Construction and Others), Forecast till 2023

Advanced Composites also known as polymer matrix composites are formed by blending of polymer materials embedded in a resin matrix. These composites are of two resin types namely thermoset and thermoplastic. They are known for exceptional thermal conductivity, light weight, dimensional ability, electrical properties, and others. Owing to these features, they are used in various application such as buildings and construction, aerospace, transport, sports, automotive, aviation, marine and others.

The Global Advanced Composites Market has been driven by the rising use of thermoset resins due to their extraordinary features such as reliability and durability. A significant growth has been predicted in the market owing to rising demand of Advanced Composites in heavy end industries.

Competitive Analysis:
Some of the important  players operating in the 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( 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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Market Segmentation:
The Global Advanced Composites Market is differentiated into resin type and application.  By resin type, the market is further segmented into thermoset and thermoplastic. Thermoset resins are further segmented into epoxy, polyurethanes, phenolic and amino resins. Among these, epoxy resins segment hold the major share in the market due to its popularity and growing use in end-use industries such as aviation, sports, electronics, automotive, energy and others. They exhibit extraordinary features such as light weight, dimensional ability, transparent radar, durability and reliability. Owing to these characteristics, it is predicted that thermoset resin segment is set to grow at a higher CAGR due to its endless use in heavy end industries.

Segmental Analysis:
On the basis of Geography, the Global 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 predicted to lead the market globally due to rising demand of thermoset resins from heavy end industries such as aerospace, automotive, sports, energy, electronics, and others. Europe is also predicted to witness a massive growth in the Advanced Composites Market due to their growing use in buildings and construction industries. The North American and Latin American has recognized a significant development in the market owing to growing demand of epoxy resins in various industries. Moreover, the Middle East & Africa has witnessed a massive growth in the market due to growing consumption of Advanced Composites in oil & gas industries.

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Key Points from Table of Contents:      

12. Company Profiles

12.1       3M
12.1.1    Company Overview
12.1.2    Product/Business Segment Overview
12.1.3    Financial Updates
12.1.4    Key Developments

12.2       Axalta Coating Systems
12.2.1    Company Overview
12.2.2    Product/Business Segment Overview
12.2.3    Financial Updates
12.2.4    Key Developments

12.3       PPG industries
12.3.1    Company Overview
12.3.2    Product/Business Segment Overview
12.3.3    Financial Updates
12.3.4    Key Developments

12.4      TEIJIN LIMITED
12.4.1    Company Overview
12.4.2    Product/Business Segment Overview
12.4.3    Financial Updates
12.4.4    Key Developments

12.5       Koninklijke Ten Cate
12.5.1    Company Overview
12.5.2    Product/Business Segment Overview
12.5.3    Financial Updates
12.5.4    Key Developments                

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