Aerospace Composites Market Research Report and Forecast up to 2024 Aerospace Composites Market - Global Industry Anal | Page 2

According to TMR, carbon fiber composites constituted the leading product-based
segment, with a volume share of nearly 53% in the overall market in 2015.
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Europe and Asia Pacific to Emerge as Lucrative Regional Markets
In terms of geography, the global aerospace composites market has been
segmented into North America, Asia Pacific, Europe, Latin America and Middle East
& Africa. In terms of demand, North America accounted for the leading market share
in 2015. The regional market was followed by its counterparts in Europe, Asia-
Pacific, Latin America and Middle East & Africa. Fleet expansion activities, increased
competition among global aircraft leaders such as Boeing, expansion of low cost
carriers and clause relaxation are the key drivers of the market in the North America
region.
In Europe, the aerospace composites market is riding on the competition from high
speed trains, increased domestic aviation and other modes of travelling. Asia Pacific
is an attractive region for the aerospace composites market as it showed a
considerable rise in air passenger traffic and emergence of global aircraft leaders
into the region. In Latin America, the market is expected to witness a robust growth
owing to the increased number of low cost carriers and rising demand from
emerging economies like Brazil. The presence of one of the prominent aircraft
competitors Embraer will also aid the market’s expansion in the region. The Middle
East & Africa is also anticipated to have a growth potential owing to the presence of
aircraft competitors and the growing number of maintenance, repair, and
operational activities in the region
Key players operating in the aerospace composites market include Cytec Solvay
Group, Hexcel Corporation, Koninklijke TenCate, BASF SE, Toray Industries Inc., SGL-
The Carbon Company, Huntsman International LLC and Argosy International LLC.
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