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High Performance Composites Market Status (2016-2020) and Forecast Market Analysis, Regional Outlook, Segment Growth Potential, and Competitive Market Share Analysis, 2021-2027

Format: PDF | Pages: 399 | Report ID: MRS1021


Report Description

The global High-Performance Composites market size is estimated at USD 48.3 million in 2020, expanding at a CAGR of 4.9% from 2021-2027.

Market Dynamics

High-Performance Composites is the combination of carbon, glass, ultrahigh-molecular-weight polyethylene (UHWPE), aramid, ceramic, quartz, boron, and other fibers. High-Performance Composites are widely used in aviation, aerospace, transportation, and defense, among others.

Growing demand for lightweight materials in the aerospace & aviation and automotive industry because of their excellent properties, durability, chemical & heat resistance nature, lightweight, etc., is anticipated to boost the market during the forecast period.

In addition, rising awareness regarding the renewable source of energy especially in developed countries is likely to fuel the demand for high-performance composites during the forecast period. Moreover, the use of High-Performance Composites in Wind Turbine Blades and the use of S-Glass and Carbon Fiber Reinforced Plastics in Boeing and Airbus Aircraft are likely to foster the demand for high-performance composites.

However, the high cost of High-Performance Composites is likely to hamper the market growth in developing countries during the forecast period.

Based on Fiber Type, the market is bifurcated into S-Glass, Carbon Fiber, Aramid Fiber, and others. The S-Glass segment is estimated to hold the largest market share during the forecast period owing to properties such as high strength, improved mechanical properties, and resistance to chemicals & heat. Moreover, these composites have low flammability and high resistance to corrosion.

Based on Resin Type, the market is segmented into Thermoset Resins, Thermoplastic Resins, and others. The Thermoplastic Resins segment witnessed the largest market share during the forecast period owing to the increase in demand & production capacities from end-use industries such as construction, automotive, transport, and others.

Based on Application, the market is bifurcated into Aerospace, Automotive, Military & Defense, Construction, Wind Turbine, Consumer goods, Electronics, and others. The Aerospace and Automotive segment is projected to hold the largest market share in the High-Performance Composites market during the forecast period due to lightweight, high strength, increased corrosion resistance, stiff materials with enhanced mechanical properties of high-performance composites.

Regionally, the European region holds the largest revenue share in 2020 and is estimated to register significant growth during the forecast period owing to the increasing demand for high-performance composites from European countries and favorable regulations regarding the use of high-performance composites for various end-use industries.

Moreover, the increasing government funds and contribution to the aerospace & defense sector in the North America and Asia-Pacific region is also expected to fuel the growth of the market during the forecast period.

Some of the prominent players are Arkema SA, Albany International Corporation, BASF SE, Solvay, DuPont, SABIC, TPI Composites, Huntsman International LLC, Owens Corning Corporation, SGL Group, Toray Industries Inc., Koninklijke Ten Cate BV, Mitsubishi Rayon Co. Ltd., Hexcel Corporation and Northrop Grumman Corporation, among others.

The report begins with an overview of the Industry Chain structure, and describes the industry environment, then analyses market size and forecast of High-Performance Composites Market by fiber type, resin type, application, and region. In addition, this report introduces the market competition situation among the vendors and company profile, besides, market price analysis and value chain features are covered in this report.

Company Coverage (Company Profile, Sales Revenue, Price, Gross Margin, Main Products, etc.):

  • Arkema SA
  • Albany International Corporation
  • BASF SE
  • Solvay
  • DuPont
  • SABIC
  • TPI Composites
  • Huntsman International LLC
  • Owens Corning Corporation
  • SGL Group
  • Toray Industries Inc.
  • Koninklijke Ten Cate BV
  • Mitsubishi Rayon Co. Ltd.
  • Hexcel Corporation
  • Northrop Grumman Corporation

Fiber Type Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):

  • S-Glass
  • Carbon Fiber
  • Aramid Fiber
  • Others

Resin Type Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):

  • Thermoset Resins
  • Thermoplastic Resins
  • Others

Application Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):

  • Aerospace
  • Automotive
  • Military & Defense
  • Construction
  • Wind Turbine
  • Consumer goods
  • Electronics
  • Others

Region Coverage (Regional Consumption, Demand & Forecast by Countries, etc.):

  • North America (U.S., and Canada)
  • Europe (Germany, U.K., France, Italy, Spain, etc.)
  • Asia-Pacific (China, India, Japan, Indonesia, Malaysia, Australia, South Korea, etc.)
  • Latin America (Brazil, Mexico, Argentina, etc.)
  • Middle East & Africa (Saudi Arabia, Kuwait, UAE, South Africa, etc.)

Frequently Asked Questions

The global High Performance Composites market size is estimated at USD 48.3 million in 2020, expanding at a CAGR 4.9% from 2021-2027.
North America captured the highest revenue in 2021 and is projected to continue its dominance during the study period.
The global industry is growing at a promising growth rate over the study period.
Asia Pacific (especially China, and India) region is projected to grow at the fastest growth rate during the study period.
The worldwide market is characterized by the presence of large number of small scale and medium scale players.

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