Global Advanced Composites Market - 2021-2028

Global Advanced Composites Market - 2021-2028

Market Overview

The global advanced Composites market size was worth US$ YY million in 2020 and is estimated to reach US$ YY million by 2028, growing at a CAGR of YY % during the forecast period (2021-2028).

Composites are the materials created and fabricated by consolidating at least two materials, bring about the blend of better properties of the fixings. Composites offer huge weight saving and consumption opposition contrasted with conventional steelwork and contend well on an expense premise with more particular corrosion-resistant alloys.

The advanced composites market is divided into Polyamide, Polyurethane, Polypropylene, Polyethylene, Acrylonitrile-butadiene-styrene copolymer (ABS), Polyvinyl Chloride, Polycarbonate and others based on resin type. Polyamides, otherwise called Nylon, are the significant designing and elite thermoplastics class because of their great equilibrium of properties.

Market Dynamics

The growing use of advanced composites in retrofit applications and increasing adoption of advanced composite materials in the automotive and aerospace sectors drives the advanced composite market. However, the high production cost of advanced composite is hindering the market.

The growing use of advanced composites in retrofit applications drives the market

The high cost to substitute steel channeling in retrofit applications drives the utilization of composites, which can withstand the serious conditions experienced in a seaward climate. In the seaward, composites offer a few benefits with the expense of assembling and raising oil apparatuses could be essentially diminished if substantial metal pipelines would be supplanted with lighter ones made of composites. These days, composite lines are utilized for fire-water channeling, seawater cooling, depleting frameworks and sewerage.

For instance, in May 2020, Kordsa, a Turkey-based company, launched new products in its Kratos structural reinforcement product line, including Kratos C-fabric unidirectional (UD) carbon fiber fabric Kratos C-plate pultruded carbon fiber strips. These are designed to retrofit reinforced concrete structures by increasing the structure's load-bearing capacity and improve structural performance. Moreover, in March 2020, AOG/Strohm announced the TCP made with Evonik Vestape carbon fiber/PA12 tape.

Increasing utilization of advanced composite materials in the automotive and aerospace sectors drives the market

Nowadays, motorsports and lower-volume, high-end and luxury vehicles use composites, which favor continuous carbon fiber materials. Composites continue an incremental increase via continuous glass fiber-reinforced polymers (GFRP) in applications such as leaf springs, SMC body panels and frames and injection-molded thermoplastics for lift gates, bumper frames and seat structures.

For instance, the 2021 Toyota Sienna third-row seatback replaced 15 steel parts, reduced weight by 30% and cost by 15% and were injection molded using Ultramid 35% glass fiber-reinforced PA6. Moreover, Mubea composite tension leaf spring replaces steel leaf springs with up to 75% less weight. Therefore, advanced composites are witnessing robust demand owing to their increasing applications and are anticipated to boost the global advanced composites market during the forecast period.

The high production cost of advanced composite is hindering the market

Advanced composites are much more difficult to impregnate reinforcing fiber because the resin is naturally in a solid state. This way, the gum should be warmed to the softening point and strain is needed to impregnate strands and the composite should then be cooled under this tension. The interaction is perplexing and altogether different from the traditional method of assembling composite. The interaction requires special tooling, method and hardware, a large number of which are costly. For example, as indicated by the current economic situation, the cost per pound of carbon fiber crude material can differ from 5 to multiple times the cost of fiberglass. Contrasted and steel, the significant expense of the materials is much more unmistakable.

Segment Analysis

Based on resin type, the advanced composite market is divided into Polyamide, Polyurethane, Polypropylene, Polyethylene, Acrylonitrile-butadiene-styrene copolymer (ABS), Polyvinyl Chloride, Polycarbonate and others.

Polyamides, otherwise called Nylon, are the significant designing and elite thermoplastics class because of their great equilibrium of properties. The material shows high temperature and electrical protection. Subsequently, they are generally utilized in auto and transportation markets. For example, around 12% of thermoplastic parts and segments in the car business are fabricated and created from polyamide.

Product advancements and launched oblige the interest for polyamides on the lookout. For example, a French company named Rhodia launched a polyamide-based polyamide 610, to some extent called Technyl eXten, produced using castor oil. Technyl eXten is a high-performing polyamide with comparative polyamide 12 for vehicle organizations looking for greener choices. Besides, DuPont has created Zytel PLUS, another group of polyamide items with a further developed sturdiness that can twofold the existence of thermoplastic segments presented to hot, artificially forceful and muggy conditions.

Geographical Analysis

The advanced composites market is segmented into North America, Europe, South America, Asia-Pacific and Middle East & Africa based on geography.

Europe is expected to dominate attributable to expanded guidelines over CO2 outflows and interest for electric vehicles

The European Commission, European Council and European Parliament set restricting carbon dioxide (CO2) outflow focuses for new traveler vehicles and light business vehicles for 2025 and 2030. The objectives separately expect to reduce the normal CO2 discharges from new vehicles by 15% and 37.5% in 2025 and 2030.

Also, Europe is purchasing electric vehicles quickly and has overwhelmed China as the world's greatest EV market. The public authority sponsorships and many new vehicles and a half and halves support shoppers. According to The Wall Street Journal, many worldwide new electric vehicle deals almost multiplied to 43% last year, while China and U.S. lost a portion of the overall industry. In addition, deals of module electric vehicles in Europe rose 137% to 1.4 million vehicles last year, outperforming China, which recorded a 12% expansion to 1.3 million.

Thus, European organizations are creating and fabricating progressed composite driven by the developing electric vehicles and strict guidelines over fossil fuel byproducts. For example, DSM, a Netherlands-based organization, dispatched carbon strands dependent on Akulon polyamide 6 (PA 6), DSM's EcoPaYY polyamide 410 (PA 410) and Stanyl polyamide 46 (PA 46). These will work with a huge weight decrease in the car body and skeleton parts.

Competitive Landscape

The advanced composites market is highly competitive with the presence of local and global companies. Some of the key players contributing to the market's growth include Covestro AG, BASF SE, DSM, Rhodia, SABIC, LANXESS, DuPont, Teijin Ltd, Celanese Corporation, Toray Industries, among others. The companies are adopting growth strategies such as acquisitions, product launches and collaborations, contributing to the growth of the advanced composites market globally.

Covestro AG

Overview: Covestro AG is a German company. It produces a variety of polyurethane and polycarbonate-based raw materials. The company is headquartered in Leverkusen, Germany. The company serves primarily automotive manufacturing and supply, construction and home products, electrical engineering and electronics, sports and leisure.

Product Portfolio: Covestro AG offers Apec, a heat-resistant thermoplastic composite that is ideal for applications in the automotive. The material can comfortably withstand high temperatures up to 150°C according to UL 746B and short-term exposure up to 200 °C.

Key Developments:

In February 2020, Covestro AG fostered another composite innovation to create slender, lightweight, high-strength, stylish parts for vehicles that diminish fuel utilization and CO2 emanations or increment the scope of electric vehicles. The innovation depends on Continuous Fiber-Reinforced Thermoplastic Polymers (CFRTP) and is advertised under the name Maezio.

Why Purchase the Report?

Visualize the composition of the advanced composites market segmentation by type, resin type, process, end-user and region, highlighting the key commercial assets and players.

Identify commercial opportunities in the advanced composites market by analyzing trends and co-development deals.

Excel data sheet with thousands of data points of advanced composites market-level 4/5 segmentation.

PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.

Product mapping in excel for the key product of all major market players

The global advanced composites market report would provide access to an approx. 69 market data table, 72 figures and 180 pages.

Target Audience

Manufacturers of Advanced Composites

Raw Material Suppliers

End-use Industries

Distributors & Suppliers of Advanced Composites

Industry Associations

Investment Research Firms


1. Global Advanced Composites Market Methodology and Scope
1.1. Research Methodology
1.2. Research Objective and Scope of the Report
2. Global Advanced Composites Market – Market Definition and Overview
3. Global Advanced Composites Market – Executive Summary
3.1. Market Snippet by Type
3.2. Market snippet by Resin Type
3.3. Market Snippet by Process
3.4. Market Snippet by End-User
3.5. Market Snippet by Region
4. Global Advanced Composites Market-Market Dynamics
4.1. Market Impacting Factors
4.1.1. Drivers
4.1.1.1. The growing use of advanced composites in retrofit applications
4.1.1.2. Increasing adoption of advanced composite materials in the automotive and aerospace sectors
4.1.2. Restraints:
4.1.2.1. The high production cost of advanced composite
4.1.3. Opportunity
4.1.4. Impact Analysis
5. Global Advanced Composites Market – Industry Analysis
5.1. Porter's Five Forces Analysis
5.2. Supply Chain Analysis
5.3. Pricing Analysis
5.4. Regulatory Analysis
6. Global Advanced Composites Market – COVID-19 Analysis
6.1. Analysis of Covid-19 on the Market
6.1.1. Before Covid-19 Market Scenario
6.1.2. Present Covid-19 Market Scenario
6.1.3. After Covid-19 or Future Scenario
6.2. Pricing Dynamics Amid Covid-19
6.3. Demand-Supply Spectrum
6.4. Government Initiatives Related to the Market During Pandemic
6.5. Manufacturers Strategic Initiatives
6.6. Conclusion
7. Global Advanced Composites Market – By Type
7.1. Introduction
7.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
7.1.2. Market Attractiveness Index, By Type
7.2. Carbon Fiber Composites*
7.2.1. Introduction
7.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
7.3. Aramid Fiber Composites
7.4. S-Glass Fiber Composites
7.5. Other Fiber Composites
8. Global Advanced Composites Market – By Resin Type
8.1. Introduction
8.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Resin Type
8.1.2. Market Attractiveness Index, By Resin Type
8.2. Polyamide*
8.2.1. Introduction
8.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
8.3. Polyurethane
8.4. Polypropylene
8.5. Polyethylene
8.6. Acrylonitrile-butadiene-styrene copolymer (ABS)
8.7. Polyvinyl Chloride
8.8. Polycarbonate
8.9. Others
9. Global Advanced Composites Market – By Process
9.1. Introduction
9.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Process
9.1.2. Market Attractiveness Index, By Process
9.2. Injection Molding*
9.2.1. Introduction
9.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
9.3. Filament Winding
9.4. Pultrusion
9.5. Others
10. Global Advanced Composites Market – By End-User
10.1. Introduction
10.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
10.1.2. Market Attractiveness Index By End-User
10.2. Transportation*
10.2.1. Introduction
10.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
10.3. Aerospace & Defense
10.4. Wind Energy
10.5. Oil & Gas
10.6. Electrical & Electronics
10.7. Others
11. Global Advanced Composites Market – By Region
11.1. Introduction
11.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Region
11.1.2. Market Attractiveness Index, By Region
11.2. North America
11.2.1. Introduction
11.2.2. Key Region-Specific Dynamics
11.2.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
11.2.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Resin Type
11.2.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Process
11.2.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
11.2.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
11.2.7.1. U.S.
11.2.7.2. Canada
11.2.7.3. Mexico
11.3. Europe
11.3.1. Introduction
11.3.2. Key Region-Specific Dynamics
11.3.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
11.3.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Resin Type
11.3.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Process
11.3.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
11.3.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
11.3.7.1. Germany
11.3.7.2. UK
11.3.7.3. France
11.3.7.4. Italy
11.3.7.5. Spain
11.3.7.6. Rest of Europe
11.4. South America
11.4.1. Introduction
11.4.2. Key Region-Specific Dynamics
11.4.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
11.4.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Resin Type
11.4.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Process
11.4.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
11.4.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
11.4.7.1. Brazil
11.4.7.2. Argentina
11.4.7.3. Rest of South America
11.5. Asia-Pacific
11.5.1. Introduction
11.5.2. Key Region-Specific Dynamics
11.5.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
11.5.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Resin Type
11.5.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Process
11.5.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
11.5.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
11.5.7.1. China
11.5.7.2. India
11.5.7.3. Japan
11.5.7.4. Australia
11.5.7.5. Rest of Asia-Pacific
11.6. Middle East and Africa
11.6.1. Introduction
11.6.2. Key Region-Specific Dynamics
11.6.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
11.6.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Resin Type
11.6.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Process
11.6.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
12. Global Advanced Composites Market – Competitive Landscape
12.1. Competitive Scenario
12.2. Market Positioning/Share Analysis
12.3. Mergers and Acquisitions Analysis
13. Global Advanced Composites Market- Company Profiles
13.1. Covestro AG*
13.1.1. Company Overview
13.1.2. Product Portfolio and Description
13.1.3. Key Highlights
13.1.4. Financial Overview
13.2. DuPont
13.3. BASF SE
13.4. DSM
13.5. Rhodia
13.6. SABIC
13.7. LANXESS
13.8. Teijin Ltd
13.9. Celanese Corporation
13.10. Toray Industries
LIST NOT EXHAUSTIVE
14. Global Advanced Composites Market – Premium Insights
15. Global Advanced Composites Market – DataM
15.1. Appendix
15.2. About Us and Services
15.3. Contact Us

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook