Advanced Polymer Composites Market Size, Historical Growth, Opportunities and Forecast By 2030

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Advanced Polymer Composites Market Key
Competitors, SWOT Analysis, Business
opportunities, Trend Analysis by 2030
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Global Market Scenario of Advanced Polymer
Composites Industry
Global advanced polymer composites market share
will grow at a commendable pace with the robust
use of these materials in domains such as boat
building, tanks pipes, auto parts, wind energy,
among others. The wind energy sector is shifting
its focus towards the composites to manufacture
wind turbine blades. Wind energy has become one
of the most important sources of generating
electricity. According to the U.S. Energy
Information Administration (EIA), in 2021, wind
turbines accounted for nearly 9.2 of the total
electricity generation. Advanced polymer
composites can be used to manufacture wind blades
as they reduce the overall weight, while
improving their efficiency and strength. Since
these materials also offer flexibility in
creating different designs, wind blade
manufacturers can develop unique structures.
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Mitsubishi Rayon Co. Ltd., Solvay S.A., Toray
Industries Inc., BASF SE, Arkema S.A., Kemrock
Industries and Exports Limited, and Carbon SE,
among many others, are the leading manufacturers
of advanced polymer composites. Global advanced
polymer composites market value is set to exceed
USD 17 billion by 2030. Below discussed are the
key trends fostering the material
demand. Government initiatives to increase focus
on renewable energy Governments across
developed and developing economies are realizing
the potential and benefits of switching to
renewable sources of energy, such as wind and
solar. Environmental challenges, such as climate
change and global warming are wreaking havoc
across the world. This has increased the need for
sustainable energy sources.
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360 Industry Analysis
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Governments and public agencies are launching
awareness campaigns to promote the importance of
green energy. For example, the National Solar
Energy Federation of India (NSEFI), in June 2022,
launched the pan-India rooftop solar awareness
program. The initiative aims to generate 100 GW
of energy, which will fuel the use of advanced
polymer composites to make lightweight,
affordable, and long-lasting solar
panels. Aramid fibers use in aerospace and
defense applications The advanced polymer
composites market size from the aramid fiber
segment will record a healthy growth rate. Aramid
fibers are used in the aerospace and defense
industries because of their beneficial features,
such as high mechanical strength, great thermal
stability, resistance against chemicals, and
non-conductive nature. These characteristics
make aramid fibers useful in the production of
stiff yet lightweight fuel tanks, bulkheads, and
floors in an aircraft. They are also used to make
safety shields for engine cowls. The fibers also
play an important role in manufacturing
protective clothing for the military personnel,
such as bulletproof vests and armor as they
possess excellent impact resistance.
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Competitive Analysis
Epoxy resins gain traction as adhesives Epoxy
resins will account for a large share of global
advanced polymer composites industry in the
future. These resins are mainly used for their
strong adhesion properties. Right from interior
design to consumer electronics, they are used in
a variety of sectors. They possess great heat and
chemical resistance and can deliver excellent
performance in high-pressure environments. The
demand for consumer electronics is growing at a
strong rate, thanks to the large-scale
digitization of various sectors. Since epoxy
resins are excellent insulators and can protect
the devices from moisture, dust, and short
circuits, they are one of the most widely used
resins in circuit development. Europe advanced
polymer composites industry outlook Europe
advanced polymer composites market size will
expand at a notable pace due to the increasing
production of vehicles in the region. Car
manufacturers are looking for unique and
cost-effective ways to produce lightweight
vehicles so that they can achieve their fuel
efficiency goals.
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