Opportunities for the global advanced composites to reach $5.2 billion by 2022

According to a new market report published by Lucintel, the future of the global advanced composites market looks promising with opportunities in various end use industries such as aerospace & defense, wind energy, transportation, marine, construction, electrical/electronics, consumer goods, and pressure vessels. The global advanced composites material market is expected to reach an estimated $5.2 billion by 2022 and it is forecast to grow at a CAGR of 8.0% from 2017 to 2022.

The global advanced composites end product market is expected to reach an estimated $17.1 billion by 2022. The major drivers of growth for this market are increasing demand of lightweight materials in the aerospace & defense and automotive industry.

In this market, carbon fiber, S-glass fiber, and aramid fiber are the major fiber used to manufacture advanced composites parts for various end use industries such as aerospace & defense, transportation, wind energy and consumer goods. On the basis of our comprehensive research, Lucintel forecasts that the transportation is expected to show above average growth during the forecast period.

Growing demand for lightweight materials in the automotive industry is expected to spur growth for this segment over the forecast period. Within the global advanced composites market, aerospace & defense application is expected to be to remain the largest market by volume and value consumption.

The major driver for this segment is the increase penetration of composites in next generation commercial aircraft, like Boeing’s B787 and Airbus 380, regional aircraft such as Bombardier’s C Series, and general aviation aircraft such as Cirrus and Diamond. By resin type, epoxy, phenolic, and vinyl ester are the major resin used to manufacture advanced composite parts.

Epoxy resin composites are expected to be the largest market by value and volume. North America is expected to remain the largest market by value and volume and is also expected to experience the highest growth over the forecast period because of growth in end-use industries and the increasing demand for lightweight materials in the aerospace and automotive industries.

Emerging trends, which have a direct impact on the dynamics of the industry, include increased demand for carbon fiber which has high tensile strength, modulus, and compatibility with different resins. Toray, Teijin, Mitsubishi Rayon, Hexcel, Dupont, Momentive, Huntsman, and Olin Epoxy are the major advanced composite manufacturers in the global advanced composites market.

Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global advanced composites market by end use industry, fiber type, resin type and region. Lucintel has prepared a comprehensive research report entitled “Growth Opportunities in the Global Advanced Composites Market 2017-2022: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides a comprehensive data and analysis on trends, key drivers, and directions.

The study includes a forecast for the global advanced composites market by end use industries, fiber type, resin type, and region, as follows: By end use industries ($ Million and Million Pounds from 2011 to 2022) • Aerospace & Defense • Wind Energy • Automotive • Marine • Construction • E&E • Consumer Goods • Pressure Vessels • Others By Fiber Type ($ Million and Million Pounds from 2011 to 2022) • Carbon Composites • S-Glass Composites • Aramid Composites By Resin Type ($ Million and Million Pounds from 2011 to 2022) • Epoxy Composites • Phenolic Composites • Vinyl ester Composites • Thermoplastic Composites • Other Composites By Region ($ million and Million Pounds from 2011 to 2022) • North America • Europe • Asia Pacific • Rest of the World This 249-page research report will enable you to make confident business decisions in this globally competitive marketplace. 

As we all know, after the first Chinese-made large civil aircraft C-919 takes its maiden flight in May, COMAC and UAC announced to establish the joint venture company named as China-Russia Commercial Aircraft International Co., Ltd. (CRAIC) for the next generation wide-body aircraft project. This Sino-Russian cooperated twin-aisle aircraft has 280 seats and is similar to Boeing 777 and Airbus 330. Related data show that the new aircraft projects will use more composite materials and advanced metal alloys, it’s believed that the aircraft will use 50% of the composite material. COMAC will launch the global purchasing demand immediately, which brings a brand new opportunity for all aerospace material suppliers. So, do you have willingness to involve in this new project?

Under this background, Chinese Society of Aeronautics and Astronautics will host the 5^th Annual China Aeronautical Materials and Process Summit on November 30^th to December 1^st, 2017, in Beijing. The CAMPS is an annually event since year of 2012, we get the officially support from COMAC Shanghai Aircraft Design and Research Institute (SADRI),  COMAC Shanghai Aircraft Manufacturing Co., Ltd. (SAMC), AECC Beijing Institute of Aeronautical Materials and AVIC Beijing Aeronautical Manufacturing Technology Research Institute.

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