Research and Markets: Global Advanced Polymer Composites Market Revenue Expected to Reach US$ 12.12 Bn by 2020, New Report Says
By Business Wire News
By Business Wire News
Research and Markets (http://www.researchandmarkets.com/research/78tp7f/advanced_polymer) has announced the addition of the “Advanced Polymer Composites- Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020” report to their offering.
Advanced polymer composites are primarily used in applications requiring high material strength capabilities. High durability, superior structural rigidity and material strength, and better functional properties distinguish advanced polymer composites from other composites. In terms of revenue, the global advanced polymer composites market was valued at US$ 7.47 Bn in 2013 and is expected to reach US$ 12.12 Bn by 2020, expanding at a CAGR of 7.2% from 2014 to 2020.
Advanced polymer composites offer high functional and material properties, and reduce weight at the same time. Hence, these composites are increasingly used in the production of aircraft and their parts. With market revenue share of over 40%, aerospace was the largest end-user industry for advanced polymer composites in 2013. Rise in demand for large commercial aircraft is projected to be one of the major drivers for advanced polymer composites used in aerospace applications.
Glass fibers account for the largest share of the advanced polymer composites produced globally. Demand for glass fibers is anticipated to rise significantly, due to increasing demand for non-conventional energy sources such as wind energy. E-glass and S-glass fibers are used in the production of wind blades of wind turbines. Shift towards non-conventional energy sources such as wind energy and the subsequent increasing in number of wind turbine installations are likely to be the major drivers for glass fiber-based advanced polymer composites in the next few years.
North America and Europe were the major markets for advanced polymer composites in 2013. North America accounted for the largest market share of 38.1% in the same year. Leading manufacturers of advanced polymer composites are now focusing on capacity expansion in Asia Pacific due to rising demand for advanced polymer composites in the region.
Key Topics Covered
- Executive Summary
- Advanced Polymer Composites Market – Industry Analysis
- Advanced Polymer Composites Market – Product Segment Analysis
- Advanced Polymer Composites Market – Application Segment Analysis
- Advanced Polymer Composites Market – End-User Analysis
- Advanced Polymer Composites Market – Regional Segment Analysis
- Company Profiles
- Cytec Industries
- Koninklijke Ten Cate
- Owens Corning
- SGL Carbon
- TPI Composites
For more information visit http://www.researchandmarkets.com/research/78tp7f/advanced_polymer
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Sector: Advanced Materials, Plastics
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