Global Thermosetting Aerospace Composites Market, By Resin Type (Epoxy, Phenolics, Polyester, and Polyimides), Aircraft Type (Commercial Aircraft, Business & General Aviation, Civil Helicopter, Military Aircraft, and Others), Application (Interior and Exterior) - Industry Trends and Forecast to 2031.
Thermosetting Aerospace Composites Market Analysis and Size
The essential factors contributing to the growth of the global thermosetting aerospace composites market include the increasing demand for lightweight and fuel-efficient aircraft, driven by rising air travel needs and stringent environmental regulations. Technological advancements in manufacturing processes enable the production of complex composite structures with enhanced performance characteristics. In addition, the superior mechanical properties of thermosetting aerospace composites, such as high strength-to-weight ratios and corrosion resistance, make them an attractive choice for aircraft manufacturers.
Data Bridge Market Research analyses that the global thermosetting aerospace composites market which was USD 7.86 Billion in 2023, is expected to reach USD 20.02 Billion by 2031, growing at a CAGR of 12.4% during the forecast period of 2024 to 2031. In 2024, the rubber segment will dominate the market due to the increasing demand from end-use industries. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2015-2021)
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Quantitative Units
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Revenue in USD Million, Pricing in USD, Volume in Units
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Segments Covered
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Resin Type (Epoxy, Phenolics, Polyester, and Polyimides), Aircraft Type (Commercial Aircraft, Business & General Aviation, Civil Helicopter, Military Aircraft, and Others), Application (Interior and Exterior)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, and Rest of Middle East and Africa
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Market Players Covered
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Toray Industries Ltd. (Japan), Solvay Group (Belgium), Teijin Limited (Japan), Owen Corning (U.S.), Royal Ten Cate (Netherlands), SGL Group (Germany), Kaman (U.S.), Hexcel Corporation (U.S.), General Electric (U.S.), and Koninklijke Ten Cate BV (Netherlands), Mitsubishi Rayon Co., Ltd. (Japan), and Jushi Group (China)
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Market Opportunities
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Market Definition
Thermosetting aerospace composites are advanced materials composed of reinforcing fibres, such as carbon or glass, embedded within a thermosetting resin matrix. When subjected to heat and pressure, these composites undergo irreversible curing processes, resulting in a rigid, durable structure with high strength-to-weight ratios. Widely utilized in aerospace applications, they offer exceptional mechanical properties, including stiffness, fatigue resistance, and thermal stability. Thermosetting aerospace composites play a crucial role in aircraft components, such as fuselages, wings, and engine parts, contributing to enhanced performance, fuel efficiency, and durability in challenging aerospace environments.
Global Thermosetting Aerospace Composites Market Dynamics
Drivers
- Increasing Demand for Air Travel and Commercial Deliveries
The surge in air travel demand and escalating commercial and military aircraft deliveries drive the need for thermosetting aerospace composites. These materials offer a compelling solution for manufacturers striving to balance lightweight construction with durability, which is crucial for meeting stringent regulatory standards. As aircraft production rates escalate to meet market demands, the aerospace industry seeks advanced materials to ensure structural integrity while reducing overall weight. Thermosetting aerospace composites fulfill this requirement, enabling the development of lighter, more fuel-efficient aircraft without compromising safety or performance. Consequently, manufacturers increasingly incorporate these composites into various aircraft platforms and applications, presenting significant growth opportunities in the aerospace composite market.
- Demand for Materials with Exceptional Mechanical Properties
Aerospace applications demand materials with exceptional mechanical properties, such as high stiffness, strength, fatigue resistance, and thermal stability. Thermosetting aerospace composites fulfill these requirements, offering superior performance characteristics compared to conventional materials. This drives their adoption of critical aircraft components to enhance overall performance and safety.
Opportunities
- Advancements in Manufacturing Technologies
Innovations in manufacturing processes, such as automated layup techniques, resin infusion methods, and additive manufacturing, enable the production of complex composite structures with high precision and efficiency. These advancements reduce production costs, lead times, and material waste, driving the adoption of thermosetting aerospace composites in aircraft manufacturing.
Restraint/Challenge
- High Initial Investment Costs
Implementing thermosetting aerospace composites often requires significant upfront investment in specialized equipment, tooling, and facilities for manufacturing and processing. These initial costs can be prohibitive for some aerospace companies, particularly smaller manufacturers or those operating on tighter budgets, limiting their adoption of composite materials.
- Regulatory Compliance and Certification Challenges
Aerospace components manufactured using thermosetting composites must adhere to stringent regulatory standards and undergo rigorous certification processes to ensure safety and performance requirements compliance. Obtaining certifications from regulatory bodies such as the Federal Aviation Administration (FAA) or the European Aviation Safety Agency (EASA) can be time-consuming and expensive, delaying product commercialization and market entry for aerospace composite manufacturers.
This thermosetting aerospace composites market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the surgical microscopes market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions. Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Recent Development
- In March 2020, Merck signed an agreement with Azelis to make Azelis a distributor of Merck's products related to personal care, CASE (coatings, adhesives, sealants, and elastomers), food & health, and industrial chemicals in Vietnam.
Global Thermosetting Aerospace Composites Market Scope
The market is segmented on the basis of resin type, aircraft type, and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Resin Type
- Epoxy
- Phenolics
- Polyester
- Polyimides
Aircraft Type
- Commercial Aircraft
- Business & General Aviation
- Civil Helicopter
- Military Aircraft
- Others
Application
- Interior
- Exterior
Global Thermosetting Aerospace Composites Market Regional Analysis/Insights
The global thermosetting aerospace composites market is analyzed and market size insights and trends are provided by country, resin type, aircraft type, and application as referenced above.
The countries covered in the global thermosetting aerospace composites market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, and Rest of Middle East and Africa.
North America is expected to dominate the market. This dominance is attributed to several factors, including the presence of major aerospace manufacturers, such as Boeing and Airbus, which drive demand for advanced composite materials. Additionally, the region benefits from robust research and development infrastructure, technological expertise, and significant investments in aerospace innovation.
Asia-Pacific region is expected to be the fastest growing region in the market due to the increasing air passenger traffic, rising defence expenditures, and expanding commercial aircraft fleets across countries like China, India, and Japan. In addition, investments in aerospace infrastructure, technological advancements, and government initiatives to promote aerospace manufacturing further stimulate regional market expansion.
The country section of the report also provides individual market impacting factors and changes in regulations in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Thermosetting Aerospace Composites Market Share Analysis
The market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to the market.
Some of the major players operating in the global thermosetting aerospace composites market are:
- Toray Industries Ltd. (Japan)
- Solvay Group (Belgium)
- Teijin Limited (Japan)
- Owen Corning (U.S.)
- Royal Ten Cate (Netherlands)
- SGL Group (Germany)
- Kaman (U.S.)
- Hexcel Corporation (U.S.)
- General Electric (U.S.)
- Koninklijke Ten Cate BV (Netherlands)
- Mitsubishi Rayon Co., Ltd. (Japan)
- Jushi Group (China),
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