AFP ATL Composites Market is Projected to Reach US$ 3.1 Billion in 2026
Stratview Research
4 min read
Stratview Research
The AFP ATL Composites Market is expected to reach US$ 3.1 Billion in 2026, growing at a CAGR of 10.8% during 2021-2026, reports Stratview Research.
Raipur, Dec. 26, 2022 (GLOBE NEWSWIRE) -- Stratview Research, a leading market research firm has launched a report on the AFP ATL Composites Market which provides an in-depth analysis of the market dynamics, current and emerging trends, industry forecast, and competitive landscape.
The report has a very high utility for the key decision-makers and strategists in terms of accurate market insights, future growth opportunities, and key success factors.
Most importantly, the report analyses the possible impact of COVID-19 on the market dynamics which offers cushioning against the uncertain business environment and helps in streamlining the resources and investment decisions in a fruitful manner.
Covid-19 impact on the Market
The incessant growth in the demand for AFP/ATL composites was ceased by the Covid-19 in 2020, causing severe changes in the demand in the near term. In numbers, the AFP/ATL composites market logged a massive decline of –33.9% in 2020, creating a lag of at least five years in the market.
AFP ATL Composites Market Segmentation:
Stratview Research has segmented the market in the following ways which fulfill the market data needs of multiple stakeholders across the industry value chain.
ByResin Type (Thermoset Composites [High-Temperature Composites, Epoxy Composites, and Others] and Thermoplastic Composites [PPS, PEEK, and Others]),
By Fiber Type (Carbon Composites, Glass Composites, and Aramid Composites),
By End-Use Industry Type (Aerospace, Automotive, and Others),
By Automation Type (AFP Composites and ATL Composites),
By Region (North America, Europe, Asia-Pacific, and Rest of the World)..
AFP ATL Composites Market Insights
Market Trends by Resin Type
The market is segmented as thermoset composites and thermoplastic composites. Thermoset composites are expected to remain the most dominant material type in the market during the forecast period, whereas thermoplastic composite is expected to experience faster growth during the same period.
All major aircraft AFP/ATL composite applications, such as fuselage and wings, are manufactured using carbon epoxy composites. Also, thermoset composites are widely used in key automotive applications such as roof, bumper, body frame, and enclosures for a battery pack.
Market Trends by Automation Type
The market is segmented as AFP composites and ATL composites. AFP composite is expected to remain the larger and the faster-growing segment of the market during the forecast period.
AFP achieves greater precision over ATL and fulfills flexible part design requirements as well as can be an effective technique for shorter course placements.
Which region offers the best opportunity and growth?
North America is expected to remain the largest market for AFP/ATL composites during the forecast period. B787, F-35, B737 Max, and A220 are the growth engines of the region’s demand for AFP/ATL composites. The upcoming aircraft variant; B777x, is likely to add new revenue pockets to the region’s market. Key players in the region are Spirit AeroSystems, The Boeing Company, Northrup Grumman, etc.
COVID-19 Impact on the AFP ATL Composites Market
COVID-19 has put an instant halt to many industries across the globe. Lockdown norms in several countries have swiftly affected the global economy by affecting the supply chain, production, and demand in the market. Both direct, as well as indirect impacts of the pandemic, have been incorporated in this report.
To know more about the covid-19 impact, get a free sample report, here:
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Stratview Research has also launched 'Composights', an online portal that offers free thought leadership reports, whitepapers, market report synopsis, and much more for Composites and allied industries, worth US$ 20,000 every year.
