High Performance Composites Market to Surpass USD 42.18 billion By 2026

(EstateNewsWire.com, October 11, 2018 ) Global High Performance Composites Market is expected to grow from USD 25.39 billion in 2017 to USD 42.18 billion by 2026, at a CAGR of 5.8% during the forecast period according to a study published by Polaris Market Research.

Increasing demand for high performance composites from a wide range of applications is expected to drive the market. Remarkable growth of the commercial aircraft manufacturing sector will boost product demand in the current industry scenario. Moreover, application of these composites in manufacturing of pressure vessels and wind turbines is yet another potential factor expected to drive the market in the next few years. However, the labor intensive requirements along with relatively high production cost are some of the restrains anticipated to effect demand of high-performance composites in terms of volume especially in the price sensitive markets. Widespread application of these products in automobiles, which is a primary goal for the carbon fibre industry, is still in a stage where use of these products in motor vehicles is still the minimum.

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The growing aerospace industry is the major factor driving this product demand owing to their versatility, perfect balance of mechanical properties and most importantly its low cost compared to other composite materials. The S-glass category, the least costly of all these is also anticipated to witness a significant growth in demand owing to significant opportunities in wind energy, aerospace and pressure vessels manufacturing industry. Commercial aircraft applications are the largest source of applications for these products. These composites have enabled to satisfy the requirement for meeting power and safety needs. Boron graphite materials were used mainly in defence aircrafts but currently these are used in commercial aircrafts also. Automobiles are the next big source of application of high-performance composite materials. It helps in making the vehicles lighter, cleaner, safety and more cost effective. Carbon fibres is the most used composite material owing to its high potential for cutting down of vehicle weight.

The report provides an extensive qualitative and quantitative analysis of the market trends and growth prospects of the Global High Performance Composites Market, 2017-2026. This report comprises a detailed geographic distribution of the market across North America, Europe, APAC and South America, and MEA. North America is further segmented into U.S., Canada. Europe is divided into Germany, UK, Italy, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific.

Competitive Landscape and Key Vendors

The global industry of high performance composite manufacturing is fairly concentrated with less number of companies operating compared to its counterparts in the current industry scenario. North America was the leading regional market in 2017. The U.S. has been the major contributor to the regional demand for these products accounting for a major share of the overall market in terms of production and even consumption especially for the aerospace and defence industry. The construction and automobile industry are also potential end use markets.

Some of the leading industry participants include Arkema SA, Albany International Corporation BASF SE, Teijin Ltd., Owens Corning Corporation, Hexcel Corporation, Solvay S.A., TPI Composites, Inc., Koninklijke Ten Cate BV, SLG Group – the Carbon Company and Toray Industries Inc.

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Key Segments Outlook

Product Type

• High Performance Thermoplastic Composites
o Polyester Ether Ketone
o Polyphenylene Sulphide
• High Performance Thermoset Composites
o Epoxy
o Polyester
o Phenolics
o Cyanate Esters

Fibre Type:

• Aramid Fibre Composites
• Fibre Composites
• S-Glass Composites
• Others

Application

• Automotive
• Defence & Aerospace
• Construction
• Medical
• Others

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About Polaris Market Research

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to our customers.

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Neel

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neel@polarismarketresearch.com

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