Market Overview:
The global functional composites market is expected to grow at a CAGR of 7.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for lightweight and high-performance materials across different industries. In addition, the growing awareness about the benefits of using functional composites is also contributing to the growth of this market. The global functional composites market can be segmented on the basis of type, application, and region. On the basis of type, it can be divided into metal matrix composites (MMCs), polymer matrix composites (PMCs), and ceramic matrix composites (CMCs). MMCs are expected to lead the global functional composite market in terms of revenue by 2030 owing to their superior properties such as high strength-to-weight ratio and thermal stability. PMCs are projected to grow at a higher CAGR than other types during 2018–2030 due their low weight and corrosion resistance properties which make them suitable for various applications such as transportation, aerospace & defense, wind energy etc. In terms of application, aerospace & defense is expected to account for a major share in terms revenue contribution by 2030 followed by transportation sector . The use if Functional Composites in these sectors is mainly driven due ot thier advantages over traditional materials with respect tot weight , stiffness , durability etc .
Product Definition:
Functional composites are materials that have been engineered to combine the best properties of more than one material into a single composite material. This can be done by combining two or more materials with different chemical and physical properties, or by combining fibers and matrix materials in specific ways to create specific desired properties. The benefits of using functional composites include lighter weight, increased strength and stiffness, improved corrosion resistance, and better thermal insulation.
Metal Matrix Composites:
Metal Matrix Composites (MMC) are metal composites made by binding together two or more metals with the help of an adhesive. The most common types of MMCs include stainless steel and nickel-based MMCs. Stainless steel is a popular choice among end-users due to its high strength, corrosion resistance, durability, and easy availability.
Polymer Matrix Composites:
Polymer matrix composites are materials that are reinforced with fibers, which can be synthetic or natural. The product is gaining popularity in the automotive and construction industries owing to its ability to reduce weight, increase strength, and improve performance. Polymer matrix composites have a wide range of applications including aircraft components & interior parts; automobile body parts; wind turbine blades & power generator housing; marine structures & boats; sports equipment frames and bicycle components among others.
Application Insights:
Aerospace & defense was the largest application segment in 2017 and is expected to maintain its lead over the forecast period. The demand for these composites in this application segment is projected to increase significantly owing to their ability to reduce weight and cost of aircraft while maintaining high strength. In addition, they are also used in applications such as landing gear systems, nacelles and fuselage sections, leading edges of wings, empennage or tail surfaces among others.
Functionalized metal matrix composites (FMLC) are gaining popularity as a replacement for traditional plastics used in automotive body panels due to their superior mechanical properties coupled with good aesthetics. These products can be molded into complex shapes required by the automobile industry along with providing better impact resistance than conventional plastic counterparts at a reduced weight compared with steel or aluminum alternatives.
The wind energy sector is one of the prominent end users of functional composite materials due largely it being lightweight compared with other structural components such as towers.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The growth of this region can be attributed to rising product demand from developing countries such as India, China, and Japan. In addition, increasing defense spending by various governments across Asia Pacific is likely to drive industry expansion over the next eight years.
The European regional market accounted for a significant share in terms of volume owing to high product adoption in wind energy applications. However, North America may emerge as a potential destination for functional composites manufacturing companies looking for higher sales volumes of aircraft parts and other transportation equipment that require metal matrix composite components or polymer matrix composite components due to stringent regulations on automotive fuel economy standards set by government agencies such as National Highway Traffic Safety Administration (NHTSA), Environmental Protection Agency (EPA) among others are likely to play an important role in driving industry expansion over the next eight years.
Growth Factors:
- Increasing demand for lightweight and high-performance materials in automotive and aerospace industries
- Growing popularity of composites in wind energy sector
- Rising demand for advanced composites in construction and infrastructure industry
- Proliferation of 3D printing technology for manufacturing functional composites parts
- Growing application of functional composites in medical implants and prosthetics
Scope Of The Report
Report Attributes
Report Details
Report Title
Functional Composites Market Research Report
By Type
Metal Matrix Composites, Polymer Matrix Composites
By Application
Aerospace & Defense, Wind Energy, Transportation, Building, Consumer Goods & Electronics, Others
By Companies
3M, 3A Composites, Air Products and Chemicals, Bayer, E. I. Du Pont De Nemours, Ametek, Applied Materials, Kyocera, Momentive Performance Materials, Materion
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
232
Number of Tables & Figures
163
Customization Available
Yes, the report can be customized as per your need.
Global Functional Composites Market Report Segments:
The global Functional Composites market is segmented on the basis of:
Types
Metal Matrix Composites, Polymer Matrix Composites
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Aerospace & Defense, Wind Energy, Transportation, Building, Consumer Goods & Electronics, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- 3M
- 3A Composites
- Air Products and Chemicals
- Bayer
- E. I. Du Pont De Nemours
- Ametek
- Applied Materials
- Kyocera
- Momentive Performance Materials
- Materion
Highlights of The Functional Composites Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Metal Matrix Composites
- Polymer Matrix Composites
- By Application:
- Aerospace & Defense
- Wind Energy
- Transportation
- Building
- Consumer Goods & Electronics
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Functional Composites Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Functional composites are materials that are composed of two or more different types of materials that have been combined to create a new material with unique properties. These materials can be blended together to create a variety of textures and colors, and they can be used in a variety of applications. Functional composites are often used in products such as aircrafts, cars, and medical devices because they offer benefits such as increased strength, durability, and flexibility.
Some of the key players operating in the functional composites market are 3M, 3A Composites, Air Products and Chemicals, Bayer, E. I. Du Pont De Nemours, Ametek, Applied Materials, Kyocera, Momentive Performance Materials, Materion.
The functional composites market is expected to grow at a compound annual growth rate of 7.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Functional Composites Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Functional Composites Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Functional Composites Market - Supply Chain
4.5. Global Functional Composites Market Forecast
4.5.1. Functional Composites Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Functional Composites Market Size (000 Units) and Y-o-Y Growth
4.5.3. Functional Composites Market Absolute $ Opportunity
5. Global Functional Composites Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Functional Composites Market Size and Volume Forecast by Type
5.3.1. Metal Matrix Composites
5.3.2. Polymer Matrix Composites
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Functional Composites Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Functional Composites Market Size and Volume Forecast by Application
6.3.1. Aerospace & Defense
6.3.2. Wind Energy
6.3.3. Transportation
6.3.4. Building
6.3.5. Consumer Goods & Electronics
6.3.6. Others
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Functional Composites Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Functional Composites Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Functional Composites Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Functional Composites Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Functional Composites Demand Share Forecast, 2019-2029
9. North America Functional Composites Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Functional Composites Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Functional Composites Market Size and Volume Forecast by Application
9.4.1. Aerospace & Defense
9.4.2. Wind Energy
9.4.3. Transportation
9.4.4. Building
9.4.5. Consumer Goods & Electronics
9.4.6. Others
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Functional Composites Market Size and Volume Forecast by Type
9.7.1. Metal Matrix Composites
9.7.2. Polymer Matrix Composites
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Functional Composites Demand Share Forecast, 2019-2029
10. Latin America Functional Composites Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Functional Composites Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Functional Composites Market Size and Volume Forecast by Application
10.4.1. Aerospace & Defense
10.4.2. Wind Energy
10.4.3. Transportation
10.4.4. Building
10.4.5. Consumer Goods & Electronics
10.4.6. Others
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Functional Composites Market Size and Volume Forecast by Type
10.7.1. Metal Matrix Composites
10.7.2. Polymer Matrix Composites
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Functional Composites Demand Share Forecast, 2019-2029
11. Europe Functional Composites Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Functional Composites Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Functional Composites Market Size and Volume Forecast by Application
11.4.1. Aerospace & Defense
11.4.2. Wind Energy
11.4.3. Transportation
11.4.4. Building
11.4.5. Consumer Goods & Electronics
11.4.6. Others
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Functional Composites Market Size and Volume Forecast by Type
11.7.1. Metal Matrix Composites
11.7.2. Polymer Matrix Coposites
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Functional Composites Demand Share, 2019-2029
12. Asia Pacific Functional Composites Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Functional Composites Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Functional Composites Market Size and Volume Forecast by Application
12.4.1. Aerospace & Defense
12.4.2. Wind Energy
12.4.3. Transportation
12.4.4. Building
12.4.5. Consumer Goods & Electronics
12.4.6. Others
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Functional Composites Market Size and Volume Forecast by Type
12.7.1. Metal Matrix Composites
12.7.2. Polymer Matrix Composites
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Functional Composites Demand Share, 2019-2029
13. Middle East & Africa Functional Composites Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Functional Composites Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Functional Composites Market Size and Volume Forecast by Application
13.4.1. Aerospace & Defense
13.4.2. Wind Energy
13.4.3. Transportation
13.4.4. Building
13.4.5. Consumer Goods & Electronics
13.4.6. Others
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Functional Composites Market Size and Volume Forecast by Type
13.7.1. Metal Matrix Composites
13.7.2. Polymer Matrix Composites
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Functional Composites Demand Share, 2019-2029
14. Competition Landscape
14.1. Global Functional Composites Market: Market Share Analysis
14.2. Functional Composites Distributors and Customers
14.3. Functional Composites Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. 3M
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. 3A Composites
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Air Products and Chemicals
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Bayer
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. E. I. Du Pont De Nemours
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Ametek
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Applied Materials
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Kyocera
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Momentive Performance Materials
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Materion
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. COMPANY 11
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook