DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/s55vb6/advanced) has announced the addition of the "Advanced Composites Market by Type, by Manufacturing Process, by Resin Type, by Application and by Region - Global Forecast to 2020" report to their offering.
The advanced composites end market in terms of value is expected to reach around USD 24.9 Billion by 2020, growing at a CAGR of 7.2% between 2015 and 2020.
The global advanced composites market has witnessed a strong growth in the past few years. This growth is estimated to continue in the coming years. High demand for advanced composites from various end-use industries from the developed economies, such as the U.S., Germany, France, Russia, China, and Japan is the key driver according to the current market dynamics. Also, such demand is backed by new industrial applications. The upcoming technological advancements, bio-raw material developments, and innovative techniques developed for the use of advanced composites will be the key influencing factors for the global market, with increased emphasis on the current cost and their applications.
Currently, North America is the largest consumer of advanced composites. Among all the countries in this region, the U.S. and Canada are important consumers of advanced composites. The U.S accounted for the largest share in the regional market, in terms of volume, in 2014. The market size, in terms of volume, is comparatively low in the RoW, but the market is estimated to grow between 2015 and 2020 as the demand from Brazil, South Africa, and the Middle East countries continue to grow.
Advanced composites can be classified on the basis of types, such as carbon composites, S-glass composites, and aramid composites. The advanced composites market is mainly dominated by carbon composites, and S-glass composites. Carbon composites are widely used in commercial applications such as aerospace & defense, wind, and automotive. S-glass composites are traditionally used in the aerospace & defense industry for ballistic applications. Advanced composites are now used in different applications due to their physical and mechanical properties such as light weight; high mechanical strength, thermal chemical stability, recyclability dimensional stability, heat resistance, good optical clarity.
Aerospace & defense, wind and automotive are the major industries where the use of advanced composite continues to increase as technology for its commercialization developing at good rate. Weight savings, fuel economy and other performance benefits will fuel the growth of advanced composite consumption in automotive sector. While need for alternative sources of energy is increasing the demand from wind application market.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Advanced Composites Market, By Fiber Type
8 Advanced Composite Market, By Resin Type
9 Advanced Composites Market, By Manufacturing Process
10 Advanced Composites Market, By Application
11 Regional Analysis
12 Competitive Landscape
13 Company Profiles
- AGY Holdings Corp.
- E. I. Dupont De Nemours and Company
- Formosa Plastics Corporation
- Huntsman Corporation
- Momentive Performance Materials Inc
- Owens Corning
- Plasan Carbon Composites
- Teijin Limited
- Toray Industries
For more information visit http://www.researchandmarkets.com/research/s55vb6/advanced