Advanced Composites Market by Fiber, Resin Type, Manufacturing Process, Application

List of Tables

The Advanced Composites Market was valued at USD 32.41 billion in 2023, expected to reach USD 35.32 billion in 2024, and is projected to grow at a CAGR of 9.21%, to USD 60.06 billion by 2030.

Advanced composites, comprising materials with superior mechanical properties, thermal stability, and lightweight characteristics, are critical in various industries such as aerospace, automotive, construction, and renewable energy. The necessity for these materials stems from the demand for lightweight structures, fuel efficiency, and sustainability, particularly in aerospace and automotive sectors where performance and weight reduction are paramount. Applications of advanced composites range from aircraft components and automobile parts to wind turbine blades and construction materials, with their end-use scope constantly expanding as industries seek alternatives to traditional materials.

KEY MARKET STATISTICS
Base Year [2023]	USD 32.41 billion
Estimated Year [2024]	USD 35.32 billion
Forecast Year [2030]	USD 60.06 billion
CAGR (%)	9.21%

Market growth for advanced composites is significantly influenced by technological advancements and innovation in manufacturing processes, like automated fiber placement and additive manufacturing. Key opportunities exist in the automotive industry as manufacturers focus on electric vehicles (EVs) that demand lightweight materials for improving range and efficiency. Similarly, the wind energy sector presents potential, with the push for larger turbines requiring robust, durable composite materials. However, challenges such as high production costs, complex manufacturing processes, and recycling issues remain barriers to widespread adoption.

To capitalize on these growth opportunities, companies should invest in research and development to lower production costs and improve composite material recyclability. Tailoring solutions to meet the stringent requirements of EVs and large-scale renewable energy projects offers lucrative potential. Innovation could also focus on hybrid composites, which combine multiple material properties, potentially solving existing challenges like cost and performance optimization.

The advanced composites market is characterized by rapid technological change and intense competition. Companies are recommended to form strategic partnerships for technology development, engage in collaborative R&D for innovative applications, and establish a robust supply chain to mitigate raw material cost volatility. While growth potential is significant, addressing the challenge of sustainability and aligning with evolving regulatory requirements will be crucial for long-term success in this dynamic market.

Market Dynamics: Unveiling Key Market Insights in the Rapidly Evolving Advanced Composites Market

The Advanced Composites Market is undergoing transformative changes driven by a dynamic interplay of supply and demand factors. Understanding these evolving market dynamics prepares business organizations to make informed investment decisions, refine strategic decisions, and seize new opportunities. By gaining a comprehensive view of these trends, business organizations can mitigate various risks across political, geographic, technical, social, and economic domains while also gaining a clearer understanding of consumer behavior and its impact on manufacturing costs and purchasing trends.

Market Drivers
- Increasing demand for lightweight materials in aerospace and automotive sector
- Increased utilization of composites in the sports and recreation industry for enhanced performance and durability
Market Restraints
- High cost of raw materials and complex manufacturing processes
Market Opportunities
- Advancements in thermal and high-performance advanced composite manufacturing technology
- Development of eco-friendly composites for construction industry applications
Market Challenges
- Adverse health issues associated with exposure to toxic materials

Porter's Five Forces: A Strategic Tool for Navigating the Advanced Composites Market

Porter's five forces framework is a critical tool for understanding the competitive landscape of the Advanced Composites Market. It offers business organizations with a clear methodology for evaluating their competitive positioning and exploring strategic opportunities. This framework helps businesses assess the power dynamics within the market and determine the profitability of new ventures. With these insights, business organizations can leverage their strengths, address weaknesses, and avoid potential challenges, ensuring a more resilient market positioning.

PESTLE Analysis: Navigating External Influences in the Advanced Composites Market

External macro-environmental factors play a pivotal role in shaping the performance dynamics of the Advanced Composites Market. Political, Economic, Social, Technological, Legal, and Environmental factors analysis provides the necessary information to navigate these influences. By examining PESTLE factors, businesses can better understand potential risks and opportunities. This analysis enables business organizations to anticipate changes in regulations, consumer preferences, and economic trends, ensuring they are prepared to make proactive, forward-thinking decisions.

Market Share Analysis: Understanding the Competitive Landscape in the Advanced Composites Market

A detailed market share analysis in the Advanced Composites Market provides a comprehensive assessment of vendors' performance. Companies can identify their competitive positioning by comparing key metrics, including revenue, customer base, and growth rates. This analysis highlights market concentration, fragmentation, and trends in consolidation, offering vendors the insights required to make strategic decisions that enhance their position in an increasingly competitive landscape.

FPNV Positioning Matrix: Evaluating Vendors' Performance in the Advanced Composites Market

The Forefront, Pathfinder, Niche, Vital (FPNV) Positioning Matrix is a critical tool for evaluating vendors within the Advanced Composites Market. This matrix enables business organizations to make well-informed decisions that align with their goals by assessing vendors based on their business strategy and product satisfaction. The four quadrants provide a clear and precise segmentation of vendors, helping users identify the right partners and solutions that best fit their strategic objectives.

Strategy Analysis & Recommendation: Charting a Path to Success in the Advanced Composites Market

A strategic analysis of the Advanced Composites Market is essential for businesses looking to strengthen their global market presence. By reviewing key resources, capabilities, and performance indicators, business organizations can identify growth opportunities and work toward improvement. This approach helps businesses navigate challenges in the competitive landscape and ensures they are well-positioned to capitalize on newer opportunities and drive long-term success.

Key Company Profiles

The report delves into recent significant developments in the Advanced Composites Market, highlighting leading vendors and their innovative profiles. These include ACPT Inc., Advanced Composites Solutions Srl, AGY Holding Corp., Akzo Nobel N.V., ARRIS Composites, Inc., Avient Corporation, BASF SE, DuPont de Nemours, Inc., Evonik Industries AG, FormosaM Co., Ltd., Gurit Services AG, Hexcel Corporation, Honeywell International Inc., LyondellBasell Industries Holdings B.V., Mitsubishi Chemical Carbon Fiber and Composites, Inc., MITSUI CHEMICALS INDIA, PVT. LTD, Momentive Performance Materials Inc., Owens Corning, Inc., Plasan Carbon Composites, Rockman Advance Composites Private Limited, SGL Carbon SE, Solvay S.A., ST Advanced Composites, Teijin Limited, and Toray Industries, Inc..

Market Segmentation & Coverage

This research report categorizes the Advanced Composites Market to forecast the revenues and analyze trends in each of the following sub-markets:

Based on Fiber, market is studied across Aramid Fiber Composites, Carbon Fiber Composites, and S-Glass Fiber Composites.
Based on Resin Type, market is studied across Thermoplastic Composites and Thermosetting Composites. The Thermoplastic Composites is further studied across Nylon, Polyethylene (PE), and Polypropylene (PP). The Thermosetting Composites is further studied across Epoxy, Polyester, and Vinyl Ester.
Based on Manufacturing Process, market is studied across Automated Tape Laying (ATL) & Automated Fiber Placement (AFP), Compression Molding, Filament Winding, Hand Layup/ Spray Layup, Injection Molding, Pultrusion, and Vacuum Assisted Resin Transfer Molding. The Filament Winding is further studied across Dry Filament Winding and Wet Filament Winding. The Injection Molding is further studied across Multi-shot Injection and Single-shot Injection. The Pultrusion is further studied across Standard Pultrusion and Variable Pultrusion.
Based on Application, market is studied across Aerospace & Defense, Automotive, Construction & Infrastructure, Consumer Goods, Electronics & Electrical, Marine, and Wind Energy. The Aerospace & Defense is further studied across Aircraft and Spacecraft. The Automotive is further studied across Exterior Components, Interior Components, and Powertrain Components. The Consumer Goods is further studied across Home Appliances and Personal Care Products. The Electronics & Electrical is further studied across Circuit Boards and Electronics Housing. The Marine is further studied across Boat Hulls and Decks & Superstructures. The Wind Energy is further studied across Nacelles and Turbine Blades.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom.

The report offers a comprehensive analysis of the market, covering key focus areas:

1. Market Penetration: A detailed review of the current market environment, including extensive data from top industry players, evaluating their market reach and overall influence.

2. Market Development: Identifies growth opportunities in emerging markets and assesses expansion potential in established sectors, providing a strategic roadmap for future growth.

3. Market Diversification: Analyzes recent product launches, untapped geographic regions, major industry advancements, and strategic investments reshaping the market.

4. Competitive Assessment & Intelligence: Provides a thorough analysis of the competitive landscape, examining market share, business strategies, product portfolios, certifications, regulatory approvals, patent trends, and technological advancements of key players.

5. Product Development & Innovation: Highlights cutting-edge technologies, R&D activities, and product innovations expected to drive future market growth.

The report also answers critical questions to aid stakeholders in making informed decisions:

1. What is the current market size, and what is the forecasted growth?

2. Which products, segments, and regions offer the best investment opportunities?

3. What are the key technology trends and regulatory influences shaping the market?

4. How do leading vendors rank in terms of market share and competitive positioning?

5. What revenue sources and strategic opportunities drive vendors' market entry or exit strategies?

Product Code: MRR-0D217D5AD5F0

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Increasing demand for lightweight materials in aerospace and automotive sector
  - 5.1.1.2. Increased utilization of composites in the sports and recreation industry for enhanced performance and durability
- 5.1.2. Restraints
  - 5.1.2.1. High cost of raw materials and complex manufacturing processes
- 5.1.3. Opportunities
  - 5.1.3.1. Advancements in thermal and high-performance advanced composite manufacturing technology
  - 5.1.3.2. Development of eco-friendly composites for construction industry applications
- 5.1.4. Challenges
  - 5.1.4.1. Adverse health issues associated with exposure to toxic materials
5.2. Market Segmentation Analysis
- 5.2.1. Fiber: Rising adoption of carbon fiber composites in automotive industry
- 5.2.2. Manufacturing Process: Ongoing advancements in variety of manufacturing processes
5.3. Porter's Five Forces Analysis
- 5.3.1. Threat of New Entrants
- 5.3.2. Threat of Substitutes
- 5.3.3. Bargaining Power of Customers
- 5.3.4. Bargaining Power of Suppliers
- 5.3.5. Industry Rivalry
5.4. PESTLE Analysis
- 5.4.1. Political
- 5.4.2. Economic
- 5.4.3. Social
- 5.4.4. Technological
- 5.4.5. Legal
- 5.4.6. Environmental

6. Advanced Composites Market, by Fiber

6.1. Introduction
6.2. Aramid Fiber Composites
6.3. Carbon Fiber Composites
6.4. S-Glass Fiber Composites

7. Advanced Composites Market, by Resin Type

7.1. Introduction
7.2. Thermoplastic Composites
- 7.2.1. Nylon
- 7.2.2. Polyethylene (PE)
- 7.2.3. Polypropylene (PP)
7.3. Thermosetting Composites
- 7.3.1. Epoxy
- 7.3.2. Polyester
- 7.3.3. Vinyl Ester

8. Advanced Composites Market, by Manufacturing Process

8.1. Introduction
8.2. Automated Tape Laying (ATL) & Automated Fiber Placement (AFP)
8.3. Compression Molding
8.4. Filament Winding
- 8.4.1. Dry Filament Winding
- 8.4.2. Wet Filament Winding
8.5. Hand Layup/ Spray Layup
8.6. Injection Molding
- 8.6.1. Multi-shot Injection
- 8.6.2. Single-shot Injection
8.7. Pultrusion
- 8.7.1. Standard Pultrusion
- 8.7.2. Variable Pultrusion
8.8. Vacuum Assisted Resin Transfer Molding

9. Advanced Composites Market, by Application

9.1. Introduction
9.2. Aerospace & Defense
- 9.2.1. Aircraft
- 9.2.2. Spacecraft
9.3. Automotive
- 9.3.1. Exterior Components
- 9.3.2. Interior Components
- 9.3.3. Powertrain Components
9.4. Construction & Infrastructure
9.5. Consumer Goods
- 9.5.1. Home Appliances
- 9.5.2. Personal Care Products
9.6. Electronics & Electrical
- 9.6.1. Circuit Boards
- 9.6.2. Electronics Housing
9.7. Marine
- 9.7.1. Boat Hulls
- 9.7.2. Decks & Superstructures
9.8. Wind Energy
- 9.8.1. Nacelles
- 9.8.2. Turbine Blades

10. Americas Advanced Composites Market

10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States

11. Asia-Pacific Advanced Composites Market

11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam

12. Europe, Middle East & Africa Advanced Composites Market

12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom

13. Competitive Landscape

13.1. Market Share Analysis, 2023
13.2. FPNV Positioning Matrix, 2023
13.3. Competitive Scenario Analysis
- 13.3.1. Syensqo and Orbex pioneer next-gen aerospace technology with advanced material integration for sustainable launch systems
- 13.3.2. Toray Advanced Composites unveils enhanced polyamide thermoplastic for high-performance industries
- 13.3.3. Axiom Materials' merger with AHT signals leadership in innovative honeycomb composites for aerospace and beyond
- 13.3.4. Toray Advanced Composites Announces Expansion of Morgan Hill Campus, Increasing Production Capacity by Fifty Percent
- 13.3.5. GracoRoberts Acquires Pacific Coast Composites to Provide Customers with an Extensive Offering of Composites Products and Shorter Lead Times to the Aerospace Industry
- 13.3.6. DOE renews partnership with Vanderbilt collaborator Institute for Advanced Composites Manufacturing Innovation
13.4. Strategy Analysis & Recommendation
- 13.4.1. Avient Corporation

Companies Mentioned

1. ACPT Inc.
2. Advanced Composites Solutions Srl
3. AGY Holding Corp.
4. Akzo Nobel N.V.
5. ARRIS Composites, Inc.
6. Avient Corporation
7. BASF SE
8. DuPont de Nemours, Inc.
9. Evonik Industries AG
10. FormosaM Co., Ltd.
11. Gurit Services AG
12. Hexcel Corporation
13. Honeywell International Inc.
14. LyondellBasell Industries Holdings B.V.
15. Mitsubishi Chemical Carbon Fiber and Composites, Inc.
16. MITSUI CHEMICALS INDIA, PVT. LTD
17. Momentive Performance Materials Inc.
18. Owens Corning, Inc.
19. Plasan Carbon Composites
20. Rockman Advance Composites Private Limited
21. SGL Carbon SE
22. Solvay S.A.
23. ST Advanced Composites
24. Teijin Limited
25. Toray Industries, Inc.