Transparency Market Research releases Aerospace Composites Market report
According to a recently released Aerospace Composites Market report released from market intelligence provider Transparency Market Research (TMR, Albany, N.Y., U.S.), the global aerospace composites market features a highly consolidated vendor landscape.
Vendors in the global aerospace composites market are diversified in nature, ranging from aerospace composites manufacturers, to raw material suppliers to and downstream stakeholders. The top three vendors in the global market accounted for 50% of the overall market share in 2015, TMR reports. The dominance of these vendors, TMR says, could be caused by heavy investments made by these companies for research and development activities.
According to the report, vendors in the global aerospace composites market are increasingly adopting backward and forward integration, in order to gain traction in the market. Additionally, vendors are leveraging o the leading trend of customization by offering application specific products. This is expected to give vendors a competitive edge over their rivals. Mergers and acquisitions are a key strategy that will be leveraged by vendors in this market in the coming years.
Per report findings, prominent vendors in the global aerospace composites market are Hexcel Corp. (Stamford, Conn., U.S.), Huntsman International LLC (The Woodlands, Texas, U.S.) SGL-The Carbon Co. (Wiesbaden, Germany), Cytec Solvay Group (Alpharetta, Ga., U.S.), and Toray Industries Inc. (Tokyo, Japan).
TMR predicts that the global aerospace composites market, estimated to be worth $11.5 billion in 2015, is anticipated to reach $24.8 billion by the end of 2024. The global market is likely to exhibit a 9.1% CAGR over the forecast period of 2016 to 2024.
The demand from commercial, residential, and corporate sectors contributes to the healthy and growing demand in the floor walls and coverings segment of the market. Geographically, the global plasticizers market is anticipated to be led by Asia Pacific, with a 6.10% CAGR.
Visit TMR’s website to request a sample of the report.
Among the product types, the segment of carbon fiber composites is forecasted to remain lucrative, thanks to a 53% volume share in 2015. North America is expected to be a dominant region in the global aerospace composites market. This could be accounted to the established presence of leading vendors in the region.
The report also predicts that aerospace composites manufacturing will continue to shift from autoclave processes to more efficient out of autoclave (OOA) processes.
TMR also provides a COVID-19 impact analysis. Visit the organization’s website to request an analysis.
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