Press Release

Transport Sector to Witness High Demand for Advanced Composites through 2023

Increasing demand for lightweight material from transportation and aerospace sectors along with rising automobile sales to boost global advanced composites market through 2023

According to TechSci Research report,Global Advanced Composites Market By Fiber Type, By Resin Type, By End Use Industry, By Manufacturing Process, By Region, Competition Forecast & Opportunities, 2013-2023, global advanced composites market is forecast to surpass $ 36 billion by 2023. Advanced composites are light weight, corrosion resistant and have high tensile strength and flexibility, and these properties make them versatile for different applications across diverse sectors. Over the past few years, demand for lightweight and corrosion resistance materials across different sectors has been increasing at a rapid pace. Products which are manufactured using advanced composites are lighter in weight as compared to conventional plastic material. Consequently, advanced composites are becoming a preferred polymer type across various sectors, specifically aerospace and transportation sector.

Browse 43 market data Table and 152 Figures spread through 208 Pages and an in-depth TOC on "Global Advanced Composites Market"

In 2017, S-Glass fiber composites accounted for the largest share in the global advanced composites market. Dominance of this segment is led by surging demand for glass fiber composites in aerospace, automotive, wind energy, and construction & infrastructure applications, owing to their lightweight, high inherent strength, weather-resistant finish, and variety in surface textures. A large demand for advanced composites emanates from North America on account of growing demand for advanced composites in the US and Canada across aerospace, wind energy and transportation applications. Moreover, presence of major carbon fiber and glass fiber manufacturers in North America is further driving growth in North America advanced composites market. Moreover, many chemical manufacturers such as Plasan Carbon Composites, Hexcel Corp. Industry, etc., are planning to develop different production units and products over the next three to four years, thereby making North America the biggest demand generating region for advanced composites.

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Advanced composites enable design flexibility due to which their demand is increasing across various end use industries.  “Rising focus on research and development activities due to high competition in advanced composites market is likely to fuel growth in global advanced composites market. Moreover, a growing number of companies are increasingly focusing on new product launches in order to carve their place in a highly competitive market, which would positively influence global advanced composites market during the forecast period.said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

Global Advanced Composites Market By Fiber Type, By Resin Type, By End Use Industry, By Manufacturing Process, By Region, Competition Forecast & Opportunities, 2013-2023 has evaluated the future growth potential of global advanced composites market and provides statistics and information on market structure, size, share and trends. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in the global advanced composites market.

About TechSci Research

TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.


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