Advanced composites market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing at a CAGR of 6.7% in the forecast period of 2021 to 2028 and expected to reach USD 2,699.88 million by 2028. Increasing demand of oil industry on advanced composites among manufacturers are the factors for the market growth.
Advanced composites are the mixtures of the several components which have high specific strength and stiffness and advanced composite material are combined with automatic manufacturing processes. Advanced composite materials (ACM) in comparison to the composite materials commonly used in reinforced concrete. The structures which are manufactured from the advanced composites have high strength and are light weight in nature.
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The major players covered in the report TEIJIN LIMITED, Mitsubishi Chemical Holdings Corporation, Koninklijke Ten Cate bv., Huntsman International LLC, Solvay, Hexcel Corporation, Hexion, BASF SE, DuPont, Honeywell International Inc., Henkel AG Co. KGaA, SGL Carbon, HYOSUNG CHEMICAL, Owens Corning, Formosa Plastics Corporation, Strata Manufacturing PJSC, Renegade Materials Corporation, Advanced Composites Inc, Airborne, among other players domestic and global. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Middle East and Africa Advanced Composites Market Scope and Market Size:
The advanced composites market is segmented into four notable segments which are based on the type, resin, manufacturing process and end-user.
- On the basis of type, the advanced composites market is segmented into carbon fiber composites, S-glass composites, aramid fiber composites and others. In 2021, the demand of carbon fiber composites increased due to rise in manufacturing of the high strength industrial equipment and boats which makes carbon fiber composites.
- On the basis of resin, the advanced composites market is segmented into advanced thermoplastic and advanced thermosetting. In 2021, the demand of carbon fiber composites segment is dominate as due to resin have ability to re-form parts as thermoplastic resins can retain their properties even after repeated heating and cooling which makes advanced thermoplastic.
- On the basis of manufacturing process, the advanced composites market is segmented into automated tape laying (ATL) and automated fiber placement (AFP), hand layup/spray layup, compression molding, resin transfer molding (RTM), injection molding, filament winding, pultrusion and others. In 2021, automated tape laying (ATL) and automated fiber placement (AFP) segment is dominating due to increase in the technology, advancement for the manufacturing of the light weight composite material increases the demand for the automated tape laying (ATL) and automated fiber placement (AFP) process.
- On the basis of end-user, the advanced composites market is segmented into aerospace and defense, energy and power, automotive, sports equipment, civil engineering, electrical and electronics, healthcare and others. In 2021, the demand of import and export of the raw material or finished good and also heavy weight cargos are more in the region which makes increase the demand of the airplanes and aerospace.
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Advanced Composites Market Country Level Analysis
Middle East and Africa advanced composites market is analysed and market size information is provided by country, type, resin, manufacturing process and end-user as referenced above.
The countries covered in Middle East and Africa Advanced Composites market report are UAE, Saudi Arabia, Egypt, Israel and South Africa.
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