Transparency Market Research (TMR) has announced the addition of a new report, titled “Advanced Polymer Composites Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020”. According to the report, the global advanced polymer composites market will expand at a moderate CAGR of 7.20% during the forecast period from 2014 to 2020.

The global advanced polymer composites market recorded a value of around US$7.4 bn in 2013 and by 2020, it is projected to be worth more than US$12.1 bn. The global advanced polymer composites market is driven by the rising demand from the aerospace industry. Furthermore, the expanding application of advanced polymer composites in the wind energy sector will also drive the market.

On the other hand, the global advanced polymer composites market will be constrained by the high production costs of carbon fiber. Nevertheless, players in the global advanced polymer composites market will benefit from the opportunity presented by the automobile sector increasing its demand for advanced polymer composites in the coming few years. Some of the key players in the global advanced polymer composites market are Owens Corning, Cristex, SGL Carbon, Solvay, Mitsubishi Rayon, Toray Industries, Cytec Industries, Hexcel, BASF, and Arkema.

The global advanced polymer composites market is segmented in the report on the basis of raw material, end use, and region. By raw material, the global advanced polymer composites market is divided into resins (polyester resin, phenolic resin, epoxy resin, and others) and fibers (aramid, glass, carbon, and others).Application-wise, the global advanced polymer composites market is classified into wind blades, boat building, aviation parts, tanks and pipes, auto parts, conductors, and others. On the basis of end use, the global advanced polymer composites market is divided into marine, consumer goods, aerospace and aviation, energy, automotive, electrical and electronics, and others. Several parts of an aircraft, such as rudders, floor beams, doors, and landing gear assembly, are made using advanced polymer composites. The aerospace sector held a share of more than 40% in the global advanced polymer composites market in 2013. The demand for advanced polymer composites is predicted to grow significantly due to the rising demand for aircraft carriers around the world.

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