Advanced Composites Market Analysis

Product (Aramid Fiber Composites Carbon Fiber Composites, S-Glass Fiber Composites)

Carbon fiber composite segment is projected to dominate advanced composites market share of around 66.2% by the end of 2037, driven by the increasing demand for lightweight materials in numerous applications. Automotive, aerospace, and defense industries are significant contributors to the carbon fiber composite sales.  Carbon composites are widely used to improve fuel efficiency, reduce vehicle weight, and provide high performance in varied applications inclusive of sports equipment, wind energy, marine industries, and construction. Prominent industry players such as Mitsubishi Chemical Corporations, Hexcel Corporation, and Toray Industries are introducing technologically advanced products, providing cost-saving benefits, and innovations.

Application (Aerospace & Defense, Automotive, Transportation, Electrical & Electronics, Wind energy, Civil Engineering, Medical, Marine, Sporting goods)

The aerospace and defense segment in advanced composites market accounts for a substantial share in the advanced composites segment owing to the distinct carbon fiber composite properties such as corrosion resistance, strength-to-weight ratio, durability, and stiffness. Space systems, inclusive of satellite components, spacecraft components, and vehicle structures rely on advanced composites due to their exceptional qualities acclimated to harsh climates. 

Aircraft interior parts such as seats, cabin components, and other structural parts gain a competitive advantage due to the durability, strength, and appealing qualities of advanced composites. It provides vehicles with higher durability, less environmental impact, corrosion resistance, and enabled fuel efficiency and extended range. Owing to the wide use of advanced composite materials in aerospace and automobile industries, mainly during the manufacturing process makes it more reliable and seeks to drive demand and growth.

Resin (Advanced Thermosetting Composites, Advanced Thermoplastic Composites)

Advanced thermosetting composite segment in the advanced composites market is poised to register around 8.4% growth till 2037. Advanced thermosetting resin is a type of polymer matrix used in composite materials, with properties such as heat resistance, higher thermal stability, enhanced chemical and mechanical properties, better adhesion to fillers, and high durability. Some commonly used advanced thermosetting are cyanate esters, polyimides, high-performance epoxies, and silicones. These materials are utilized in aerospace, sports equipment, automotive, and medical devices owing to their safety and durability, reduced maintenance costs, and flexibility.

Our in-depth analysis of the global market includes the following segments: