A recent report published by Infinium Global Research on the aerospace composites market provides an in-depth analysis of segments and sub-segments in the global as well as regional aerospace composites market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional aerospace composites market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global aerospace composites market. According to the report, the global aerospace composites market is projected to grow at a CAGR of 9.2% over the forecast period of 2019-2025.
The aerospace market is one of the largest and the most important to the composites industry. Composites are versatile, used for both structural applications and components, in all aircraft and spacecraft, from hot air balloon gondolas and gliders to passenger airliners, fighter planes, and the Space Shuttle. Composite materials have been used in aerospace in applications such as engine blades, interiors, brackets, single-aisle wings, nacelles, propellers/rotors, wide body wings.
The rising fuel costs, environmental regulations and an increase in airline traffic are driving the increasing use of composite materials in the aerospace industry. Furthermore, the growing demand for advanced composites for commercial and military applications is also favoring the growth of the market. The increasing demand for reducing the weight of the aircraft to improve fuel efficiency fuels the growth of the aerospace composites market. These materials are used as a substitute for metals and also provide OEMs the opportunity to produce lightweight structures thereby reducing fuel consumption and reducing emissions. Furthermore, growing environmental regulations have led to a significant increase in the use of aerospace composites in aerospace structures. However, due to the robust fabrication and manufacturing process of these composite materials, the cost of the composite materials increases, which hampers the growth of the aerospace composites market. Moreover, the emergence of supersonic and hypersonic flight vehicles is anticipated to create a huge demand for advanced aerospace composites over the forecast period.
Geographically, North America held the maximum market share in the aerospace composites market and is expected to remain dominant over the forecast period owing to the increasing demand for lightweight and durable advanced composite materials for aerospace applications. Europe is the second largest region owing to the increasing imposition of environmental regulations and the growth of the automotive industry in this region. The Asia Pacific region is set to grow at the fastest rate owing to the growth in defense budgets of key nations in the Asia Pacific such as China and India and a continuing increase in passenger travel demand. Furthermore, it is estimated that Asia Pacific’s fleet will triple to about 13,222 aircraft by 2034.
The report on the global aerospace composites market covers segments such as resin, fiber type, aircraft, and application. On the basis of resin, the sub-markets include epoxy, phenolic, polyester, thermoplastics, polyimides, ceramic, and metal matrix. On the basis of fiber type, the sub-markets include carbon fiber composites, ceramic fiber composites, glass fiber composites, and other fiber types. On the basis of aircraft, the sub-markets include commercial aircraft, military aircraft, spacecraft, and other aircrafts. On the basis of application, the sub-markets include interior, and exterior.
The report provides profiles of the companies in the market such as Cytec Solvay Group, Hexcel Corporation, Koninklijke Ten Cate bv, Toray Industries Inc., Argosy International Inc., Axioms Materials, Inc., BASF SE, Gurit Holding AG, Owens-Corning Fiberglas Corporation, Huntsman International LLC, and Other companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of aerospace composites market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.