London, 20 August 2015: Technavio, the independent tech-focused global research firm, has published a report on the global advanced polymer composites market 2015-2019, which is estimated to grow at a CAGR of 3.39% during 2014-2019.
“The automotive industry is a key emerging end-user of advanced polymer composites. The use of such composites in the manufacture of automobiles is expected to reduce the weight of the vehicles by 40%-50% and increase fuel efficiency by 30%-35%,” says Faisal Ghaus, Vice President of Technavio.
“Carbon fiber-reinforced polymer composites are being increasingly used in the large-scale production of premium cars such as the BMW i8 and BMW 7, though the number of these vehicles being produced is less due to their high cost.”
Key Market Drivers
- Strong demand in the aerospace sector
- Expansion of production capacities in APAC
- Increase in demand for carbon fiber-reinforced polymer composites
- Introduction of new products
Key Market Trends
- Increasing demand for wind energy applications
- Growing consumption for automotive applications
- Focus on bio-based products
- Increasing collaboration within the supply chain
Key Market Vendors
- Cytec
- Hexcel
- Owens Corning
- SGL
- TenCate
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
