Dublin, April 05, 2023 (GLOBE NEWSWIRE) -- The "Armor Materials - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Armor Materials Market to Reach $16.1 Billion by 2030
The global market for Armor Materials estimated at US$11.1 Billion in the year 2022, is projected to reach a revised size of US$16.1 Billion by 2030, growing at a CAGR of 4.7% over the analysis period 2022-2030.
Metals & Alloys, one of the segments analyzed in the report, is projected to record a 4.7% CAGR and reach US$6 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Composites segment is readjusted to a revised 5.1% CAGR for the next 8-year period.
The U.S. Market is Estimated at $3 Billion, While China is Forecast to Grow at 7.9% CAGR
The Armor Materials market in the U.S. is estimated at US$3 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$3.4 Billion by the year 2030 trailing a CAGR of 7.9% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.4% and 3.9% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 3.1% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$2.2 Billion by the year 2030.
Looking Ahead to 2023
The uncertainty around how Russia`s war on Ukraine will play out this year and the war`s role in creating global instability means that the trouble on the inflation front is not over yet. Food and fuel inflation will remain a persistent economic problem. Higher retail inflation will impact consumer confidence and spending.
As governments combat inflation by raising interest rates, new job creation will slowdown and impact economic activity and growth. Lower capital expenditure is in the offing as companies go slow on investments, held back by inflation worries and weaker demand. With slower growth and high inflation, developed markets seem primed to enter into a recession.
Volatile financial markets, growing trade tensions, stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced. Year 2023 is expected to be tough year for most markets, investors and consumers. Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.
What`s New for 2023?
- Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and Research Platform
- Complimentary updates for one year
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 194 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $11.1 Billion |
| Forecasted Market Value (USD) by 2030 | $16.1 Billion |
| Compound Annual Growth Rate | 4.8% |
| Regions Covered | Global |
Key Topics Covered:
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
- Impact of Covid-19 and a Looming Global Recession
- Application Markets
2. FOCUS ON SELECT PLAYERS (Total 41 Featured)
- Agy Holdings Corp.
- Alcoa Corporation
- Allegheny Technologies, Inc. (ATI)
- CeramTec GmbH
- Cerco Corporation
- Compagnie de Saint-Gobain
- CoorsTek, Inc.
- CPS Technologies Corporation
- Dow, Inc.
- DuPont de Nemours, Inc.
- Honeywell International, Inc.
- Jps Composites Materials
- Leeco Steel, LLC
- Morgan Advanced Materials PLC
- PPG Industries, Inc.
- Protective Structures, Ltd.
- Royal Ten Cate NV
- SAAB AB
- Schunk Carbon Technology
- Surmet Corporation
- Tata Steel Ltd.
- Waco Composites
3. MARKET TRENDS & DRIVERS
- A Look into Existing and New Body Armor Material Developments
- Companies Unveil New Body Armor Designs for Ballistic Protection
- Army Demand for Lighter Body Armors Gives Way for Use of New Materials
- Manufacturers Engage in Advanced Materials for Body Armor
- New Backing Materials for Body Armor Testing
- UHMWPE Gains Edge Over Other Materials
- Body Armor Advancements for Women in Law Enforcement
- Manufacturers Focus on Integrated Protection Concepts
- Liquid Armor Gains Attention
- Vehicle Armor Material Trends
- Focus Grows on Materials that Contribute to Low Weight Aircraft Armor
- World Aerospace and Defense Spending Support Demand for Armor Materials
- Rise in Military Expenditure and Defense Budgets to Drive Growth
- Global Military Expenditure by Region: 2000-2018 (in US$ Billion)
4. GLOBAL MARKET PERSPECTIVE
For more information about this report visit https://www.researchandmarkets.com/r/3tnxyc
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