The global advanced polymer composites market is expected to witness a remarkable expansion at a CAGR of 8% during the period 2021 to 2025 and reach an estimated value of USD 5.25bn by the end of the forecast period.
The rising demand from the wind energy sector as these polymers are used in the making of wind blades and turbines is anticipated to intensify the growth of the advanced polymer composites market.
Researchmoz throws some light on the global advanced polymer composites market such as market size, opportunities, trends, drivers, restraints, product dominance, regional dominance, and competitive edge.
Factors Driving and Restraining the Market
- The global advanced polymer composites market is expected to grow owing to increasing demand from the aerospace sector due to the rise in air travel.
- The rise in demand for air carriers for quicker deliveries and increasing expenditures from the military and defence sector for newer aircraft is expected to amplify the expansion of the global advanced polymer composites market during the forecast years.
- Rapid urbanization is expected to bolster the expansion of the advanced polymer composites market in the coming years.
- The modern living and increasing demand for luxury cars and recreational boats such as yachts are anticipated to drive the global advanced polymer composites market during the forecast period.
- The oil and gas industry is expected to boost the advanced polymer composites market, owing to the demand for replacing metals with polymer composites.
- The increase in disposable income in the hands of consumers is projected to expand the global advanced polymer composites market during the forecast period.
There are certain challenges that the advanced polymer composites market is expected to face and dampen the growth during the forecast years.
- The complex production process coupled with the high cost and stringent regulations is projected to hinder the growth of the global advanced polymer composites market in the coming years.
Nevertheless, the global advanced polymer composites market is still anticipated to grow, owing to the increasing demand for energy-efficient resources due to depleting fossil fuels.
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Analyst’s Overview
Since the advanced polymer composites offer high strength, abrasion resistance, and stability they are used in the aircraft by civil aviation and the military and defence sector, which further is expected to expand the market.
The logistics sector is also projected to pave the way for the global advanced polymer composites market during the forecast period.
Glass fibres used in the manufacturing of boats, yachts, and some components of aircraft are expected to drive the expansion of the global advanced polymer market in the following years.
North America is blessed with high demand for aerospace, automotive, and electronics, owing to modern living and demand for luxury goods and services, thus resulting in the growth of the global advanced polymer composites market.
Simultaneously, Asia Pacific is also likely to witness massive growth during the forecast period, thanks to the rising trend of increased disposable income and demand from the automotive and aerospace sectors.
Competitive Landscape
The global advanced polymer composites market is competitive due to the presence of prominent and large-scale manufacturers who are eyeing on introducing innovative products in order to penetrate deeper into the market.
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Some of the prominent players involved in the global advanced polymer composites market are –
- Kemrock Industries
- Mitsubishi Rayon,
- Owens Corning
- Toray Industries
- SGL Carbon
- Hexcel
- Arkema
- Cytec Industries
- Cristex
- BASF
Key Takeaways
- Aerospace sector to dominate the global advanced polymer composites market during the forecast period.
- Modern living and recreational activities such as boat and yacht riding to strengthen advanced polymer composites market in the coming years.
- Complex production process and high cost of production may pose challenges in the expansion of the global advanced polymer composites market.
- Availability of advanced technology to underpin the growth in the global advanced polymer composites market during the forecast period.
- Asia Pacific to prosper in the coming years, owing to the high demand for automotive and aviation.
Product/Type Disposition (Revenue in USD million)
- Glass
- Carbon
- Aramid
End-User Disposition (Revenue in USD million)
- Aerospace
- Automotive
- Marine
- Energy
- Others
Regional Disposition
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Asia Pacific
- China
- India
- Japan
- South Korea
- Latin America
- Brazil
- Mexico
- Middle East & Africa (MEA)
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