The advanced composites market refers to the industry involved in the production and use of high-performance materials made from polymer, carbon, or ceramic fibers embedded in a matrix material, such as epoxy resin. These composites offer a range of advantages over traditional materials such as metals, including lightweight, high strength, and resistance to corrosion and fatigue.
The market for advanced composites is driven by a range of industries, including aerospace, automotive, wind energy, and sporting goods. In aerospace, the use of advanced composites is becoming increasingly important in the manufacture of aircraft structures and components. The weight reduction offered by composites helps to increase fuel efficiency and reduce emissions, while their high strength and durability make them ideal for use in critical applications such as wing and fuselage components.
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In the automotive industry, advanced composites are being used to reduce weight and improve fuel efficiency, as well as to enhance safety features. For example, carbon fiber composites are being used to produce lightweight body panels and chassis components, while ceramic matrix composites (CMCs) are being developed for use in high-temperature applications such as exhaust systems.
In the wind energy sector, advanced composites are being used to produce large-scale wind turbine blades that are both lightweight and durable, helping to increase energy output and reduce maintenance costs.
The global advanced composites market is expected to continue to grow in the coming years, driven by increasing demand from a range of industries. However, the market faces several challenges, including high costs and the need for specialized manufacturing processes. As a result, there is a growing focus on developing more cost-effective and scalable manufacturing methods for advanced composites, as well as on developing new materials and applications for these materials.
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- Toray Advanced Composites reports that it has finished a long-term supply arrangement with Joby Aviation for the composite material used in its aircraft in December 2020. Toray’s carbon fiber composite materials will be used by a California-based aircraft manufacturer to develop quick, inexpensive, and emissions-free aerial ridesharing for global communities.
- Impossible Objects and Owens Corning signed a joint development agreement in May 2021 to work on developing new materials for Impossible Objects’ composite-based additive manufacturing (CBAM) technology.
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- Toray Industries, Inc.
- Koninklijke Ten Cate NV
- Teijin Limited
- Hexcel Corporation
- SGL Group
- Cytec Solvay Group
- Owens Corning
- E. I. Dupont De Nemours and Company
- Huntsman Corporation
Key segments
By Product:
- Aramid
- Carbon
- Glass
By Application:
- Aerospace & Defense
- Automotive
- Construction
- Sporting Goods
- Wind Energy
By Region:
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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