Market Overview

Advanced Polymer Composites Market to achieve 7%+ growth over 2018-2024

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Advanced Polymer Composites Market to achieve 7%+ growth over 2018-2024

Global advanced polymer composites market for auto-parts application will expand at over 7% CAGR during 2018-2024 owing to increasing automotive manufacturing and sales across the globe broadly used in the auto-parts such as windows, tires, body panels, engines and instrument panels due to its low weight, flexibility and fabrication ease

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SELBYVILLE, Del., August 1, 2018 /PRNewswire-iReach/ -- According to a new growth forecast report by Global Market Insights, Inc., Advanced polymer composites market is expected to cross USD 16 billion by 2024. Robust growth in the aerospace industry, including both civil and commercial are prime factors stimulating advanced polymer composites market share in recent years. The product offers superior properties including strength and abrasion resistance, which makes it suitable to find applications in aircraft part manufacturing. In 2006, the overall revenue passenger kilometers (RPK) was more than 4 billion and is poised to exceed 15 billion RPK by 2033. In addition, enormous backlogs in the aircraft manufacturing, reduced air fares and escalating air transportation industry will stimulate product demand by 2024.

Drifting focus towards renewable sources for power generation will positively boost product demand for manufacturing blades used in wind energy plants. In addition, the global installed wind capacity is likely to observe growth more than 12% between 2016 and 2024, particularly due to decreasing fossil fuel dependency for energy generation. However, the advanced polymer composites market size is negatively influenced in the recent years on account of high product cost in comparison with prevailing counterparts in the business. For instance, steel price in 2015 was roughly USD 1 per kilo, whereas, carbon fiber price was close to USD 35 per kilo.

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In 2015, North America advanced polymer composites market size was close to USD 3 billion. Drifting regional trend towards wind energy generation will positively influence of the product demand. Additionally, robust aerospace industry in the U.S. will complement regional growth by 2024. Asia Pacific is analyzed to be the fastest growing region in the coming. The region accounts for more than 35% of the global new aircraft demand, which is the major factor propelling regional growth.

In 2015, resins accounted for the more than 35% of the global advanced polymer composites market share. Epoxy resins owing to high adhesive and water resistance properties are widely used in the boat building industry. In addition, high electric & flame resistance along with excellent mechanical strength makes them suitable to find widespread applications in electrical materials and metal bonding.

Buy this industry insights spread across 154 pages with 110 market data tables & 13 figures & charts from the report, "Advanced Polymer Composites Market Size By Product (Resin [Epoxy, Phenolic, Polyester], Fiber [Carbon, Glass, Aramid]), By Application (Conductors, Autoparts, Tanks & Pipes, Aviation Parts, Boat Building, Wind Blades), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, GCC), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024" in detail along with the table of contents:

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Fiber led the overall advanced polymer composites market size for 2015. Carbon fiber due to its outstanding tensile strength and modulus of rigidity is used in the automotive and aerospace industry. Glass fiber offers high characteristics such as transparency, chemical resistance, hardness and flexibility, which makes it for applications in tires & reinforced plastics, boat hulls & seats, furnishing fabrics, apparels, garments and exhaust nozzles.

In 2015, global advanced polymer composites market size for aviation parts was more than 3.5 billion. Strong growth in the aerospace industry across the globe will stimulate product demand in the coming years. In addition, autoparts are likely to observe growth more than 7% over the estimated period. Escalating commercial and personal vehicle demand across the globe will positively influence the overall advanced polymer composites market size.

In 2015, advanced polymer composites market share was fragmented with key industry contributors accounting for less than 20% of the business. Key companies participating in the advanced polymer composites market include BASF, Owens Corning, Arkema, Cristex, 3B-Fibreglass, Solvay, SGL Carbon, Toray Industries, Mitsubishi Rayon, Cytec, Hexcel and TPI Composites.

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Partial Chapters of the Table of Contents:

Chapter 2.   Executive Summary

2.1.   Advanced polymer composites industry 360° synopsis, 2013 – 2024

2.1.1.   Business trends

2.1.2.   Product trends

2.1.3.   Application trends

2.1.4.   Regional trends

Chapter 3.   Advanced Polymer Composites Industry Insights

3.1.   Industry segmentation

3.2.   Industry size and forecast, 2013 - 2024

3.3.   Industry ecosystem analysis

3.3.1.   Vendor matrix

3.3.2.   Distribution channel analysis

3.4.   Industry impact forces

3.4.1.   Growth drivers

3.4.1.1.   Increasing product demand from aerospace industry

3.4.1.2.   Product applications in wind energy generation

3.4.2.   Industry pitfalls & challenges

3.4.2.1.   High production cost

3.5.   Growth potential analysis

3.6.   Regulatory trends

3.6.1.   U.S.

3.6.2.   Europe

3.6.3.   China

3.7.   Porter's analysis

3.8.   Company market share analysis, 2015

3.8.1.   Strategy dashboard

3.9.   PESTEL analysis

3.10.   Regional price trends

3.10.1.   Cost structure analysis

3.10.2.   Raw material trends

Read Our Blog: https://www.fractovia.org/news/industry-research-report/advanced-polymer-composites-market

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Media Contact: Jignesh Thakkar, Global Market Insights, Inc., +13028467766, sales@gminsights.com

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SOURCE Global Market Insights, Inc.

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