Globally demand for advanced polymer composites to grow at over 8% until 2019

11-Dec-15

The growth prospects of the global advanced polymer composites market for the period 2015-2019 is forecast to grow at a CAGR of 8.13%, as per Research and Markets. More and more vendors in the market are focusing on the R&D of technologically advanced products for such applications. The introduction of new low-cost polymer composites for wind energy applications is expected to lead to the manufacture of wind turbine blades that are stronger, lighter, and longer. These blades capable of creating more energy than shorter ones. For instance, Hexcel offers HexPly prepreg, which is a polymer composite made of epoxy resins and reinforced with glass or carbon fiber. According to the report, the global advanced polymer composites market is experiencing an increase in demand for applications in the aerospace sector. An increasing number of newly introduced larger commercial aircraft manufacturers are focusing on weight reduction to enhance fuel efficiency in these aircraft, which can be achieved through the use of advanced polymer composites. Polymer composites, especially epoxy-based polymer composites, are used to manufacture aircraft components and parts such as rudders, landing gear, and engine nacelles. Further, the report states that the production of larger volumes of these products at economical prices could become a challenge as demand increases.