Global High-Performance Composites Market Size By Material Outlook (Resins, Fibers), By Application (Aerospace, Automotive & Industrial, Energy), By Geographic Scope And Forecast
Report ID: 69637|No. of Pages: 202
Global High-Performance Composites Market Size By Material Outlook (Resins, Fibers), By Application (Aerospace, Automotive & Industrial, Energy), By Geographic Scope And Forecast
High-Performance Composites Market Size And Forecast
High-Performance Composites Market size was valued at USD 24.65 Billion in 2020 and is projected to reach USD 46.21 Billion by 2028, growing at a CAGR of 8.17% from 2021 to 2028.
The demand for high-performance composites in various applications is being driven by the increased demand for lightweight and high-strength materials. The Global High-Performance Composites Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
>>> Get | Download Sample Report @ – https://www.verifiedmarketresearch.com/download-sample/?rid=69637
Global High-Performance Composites Market Definition
Fiber and resin are the two separate components that makeup composites. The novel substance, which differs from fiber and resin in terms of qualities, is distinguished by great strength and stiffness as well as low weight. These characteristics have boosted demand for the material in a range of industries, including aerospace, military, and automobiles. In high-performance polymer composites for aeronautical and astronautical applications, epoxy resin is commonly employed as the matrix. Carbon fiber (CF) is often used to reinforce epoxy matrices since it is one of the stiffest and strongest fiber reinforcements available.
The brittle mechanical performance and poor toughness of CF reinforced epoxy composites, especially under high-rate/impact loading and at low temperatures, is a serious challenge for these safety-sensitive applications. Composites consisting of fiber-reinforced polymer (FRP) are formed by mixing a plastic polymer resin with strong reinforcing fibers. The components keep their original shape while contributing their distinct qualities to create a new composite material with improved overall performance. Fiber reinforcement improves the strength and stiffness of polymer materials.
Fiber-reinforced composites with high strength and lightweight have long been employed in defense and aerospace systems, and more recently in luxury automobiles, wind turbines, and compressed gas storage tanks. Materials that are lightweight, robust, and stiff are an appealing mix of attributes for produced products. Lightweight materials save a lot of energy during transportation, and ‘light weighting’ is an important technique for meeting national energy targets. Furthermore, FRP composites’ strength, durability, and structural qualities are extending the service life of industrial equipment, buildings, and other infrastructure.
Advanced carbon and glass fiber-reinforced polymer (FRP) composites are very interesting materials for industrial and clean-energy applications. Carbon fiber-reinforced polymer composites beat many structural materials in terms of structural strength-to-weight ratio, as well as corrosion resistance. Corrosion resistance and other qualities can be added to composites to improve the performance of industrial equipment and components. Fiber-reinforced polymer composites, for example, could enable more efficient heat exchangers, as well as fans, blowers, and other equipment that can survive corrosive or high-temperature processes, longer-lasting pipelines, and tanks, and better electrical insulation for machinery.
What's inside a VMR
industry report?
Our reports include actionable data and forward-looking analysis that help you craft pitches, create business plans, build presentations and write proposals.
>>> Ask For Discount @ – https://www.verifiedmarketresearch.com/ask-for-discount/?rid=69637
Global High-Performance Composites Market Overview
Carbon, glass, aramid, quartz, ultrahigh-molecular-weight polyethylene, ceramic, boron, and novel fibers such as poly (p-phenylene benzothiazole) (PBO) fibers are used to make high-performance composites. These materials are commonly utilized in applications such as automotive, wind turbines, medical, construction, aerospace, and defense because they have high tensile strength, high thermal conductivity, and low weight. The main reason for the High-Performance Composites Market growth rate is high by increased demand for glass and carbon fiber high-performance reinforced plastics in Airbus aircraft and the increasing use of high-performance composites in wind turbine blades. The usage of such materials has been pushed by environmental authorities such as the EPA in order to maintain the ecological balance.
Traditional automobile manufacturing materials such as steel and aluminum are considered to be weaker alternatives to high-performance composites. Furthermore, the High-Performance Composites Market growth rate is influenced by the rise of the vehicle industry and the increasing sale of aircraft. The high prices of raw materials, production, and assembly, on the other hand, are restricting the expansion of the High-Performance Composites Market. Fiber composites have long been utilized in aircraft and aerospace applications, but the widespread use of carbon fiber in next-generation commercial aircraft is expected to save fuel consumption by roughly 20% while also providing benefits that will improve passenger comfort.
Composites’ excellent fatigue life is critical in helicopter rotor blades, which are subjected to complicated torsion and bending stresses during operation. Aluminum honeycomb with glass/phenol laminates was utilized in radar construction, however, antenna systems required large and precise sandwich panels as support wale and base plate parts. Nomex fiber honeycomb panels with copper-covered foils or printed boards as the core material. Chemical equipment, pipes, and firefighting breathing apparatus are among the applications for composites due to their exceptional corrosion resistance.
Composite pipes are used in desalination plants for seawater intake and effluent discharge, as ducts in the chemical industry, as cross-country water transmission pipelines, sewer pipelines, and other purposes. Corrosive composites are employed in the construction of cooling tower units because the composite materials are resistant to moisture. Blades used in large utility-scale wind turbines are lighter because of composite fibers. Larger blades collect more energy and lower the cost of electricity. As a result, turbines have gotten bigger in an effort to lower the cost of electricity generated from renewable wind resources so that they can compete with the cost of energy generated from traditional power sources.
Global High-Performance Composites Market Segmentation Analysis
The Global High-Performance Composites Market is classified on the basis of Material Outlook, Application, And Geography.
High-Performance Composites Market, By Material Outlook
• Resins
• Fibers
Based on Material Outlook, The market is classified into Resins and Fibers. The most widely used polymers in composites are thermosets, which are a form of plastic Resins that becomes considerably infusible and insoluble when hardened by heat and chemicals. After it has been cured, a thermoset cannot be restored to its uncured state. Despite the fact that almost all thermosets currently in use are made from petroleum feedstocks. Glass Fibers account for the great majority of composite Fibers. Glass Fibers are the most popular and oldest type of reinforcement utilized to replace heavier metal parts in end-market applications. Glass Fiber is heavier and less stiff than carbon Fiber, the second most often used reinforcement, but it is more impact-resistant and has a higher elongation-to-break.
High-Performance Composites Market, By Application
• Aerospace
• Automotive & Industrial
• Energy
• Consumer Goods
• Defense
• Electronics
• Construction
• Others
Based on Application, The market is classified into Aerospace, Automotive & Industrial, Energy, Consumer Goods, Defense, Electronics, Construction, and Others. Aerospace engineering is the primary branch of engineering concerned with the construction of aircraft and spacecraft. Aeronautical engineering and astronautical engineering are two fields that overlap significantly. Aeronautical engineering is similar to avionics engineering, although avionics engineering concentrates on the electronics side of things. The Automotive or Automobile designer is the person who conceptualizes the exterior and interior design of a vehicle. This individual is typically an industrial and design engineer who ensures that their designs are both functional and attractive.
High-Performance Composites Market, By Geography
• North America
• Europe
• Asia Pacific
• Rest of the world
On the basis of Regional Analysis, The Global High-Performance Composites Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. The Asia Pacific region is expected to witness a significant CAGR during the forecast period. This is primarily due to the demand for high-performance composites in various applications is being driven by the increased demand for lightweight and high-strength materials.
Key Players
The “Global High-Performance Composites Market” study report will provide a valuable insight with an emphasis on the global market including some of the major players such as Toray Industries Inc. (Japan), Hexcel Corporation (US), Solvay S.A. (Belgium), SGL Group-The Carbon Company (Germany), Koninklijke TenCate NV (Netherlands), TPI Composites (US), Owens Corning Corporation (US), Teijin Limited (Japan), BASF SE (Germany). The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.
Key Developments
• Oct 2021, Toray Industries, Inc. has announced that the Toraysee Anti-Fog Cloth for Eyeglasses will be available in Japan starting in mid-October.
• January 2022, Toray Industries, Inc. has developed a printing process that uses high-performance semi-conductive carbon nanotube composites to produce semiconductor circuits on flexible sheets.
• November 2021, Hexcel Corporation and Fairmat, a deep technology company, have established a partnership to develop the capability to recycle carbon fiber prepreg from Hexcel European plants for use in commercial composite panels.
Report Scope
| Report Attributes | Details |
|---|---|
| Study Period | 2017-2028 |
| Base Year | 2020 |
| Forecast Period | 2021-2028 |
| Historical Period | 2017-2019 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Toray Industries Inc. (Japan), Hexcel Corporation (US), Solvay S.A. (Belgium), SGL Group-The Carbon Company (Germany), Koninklijke TenCate NV (Netherlands), TPI Composites (US), Owens Corning Corporation (US). |
| Segments Covered | • By Material Outlook |
| Customization scope | Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope |
Top Trending Reports:
Global Green Cement Market Size And Forecast
Global Building Materials Software Market Size And Forecast
Research Methodology of Verified Market Research:
To know more about the Research Methodology and other aspects of the research study, kindly Get in touch with our sales team.
Reasons to Purchase this Report
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
• 6-month post-sales analyst support
Customization of the Report
• In case of any Queries or Customization Requirements please connect with our sales team, who will ensure that your requirements are met.
Frequently Asked Questions
Report Research Methodology
Verified Market Research uses the latest researching tools to offer accurate data insights. Our experts deliver the best research reports that have revenue generating recommendations. Analysts carry out extensive research using both top-down and bottom up methods. This helps in exploring the market from different dimensions.
This additionally supports the market researchers in segmenting different segments of the market for analysing them individually.
We appoint data triangulation strategies to explore different areas of the market. This way, we ensure that all our clients get reliable insights associated with the market. Different elements of research methodology appointed by our experts include:
Exploratory data mining
Market is filled with data. All the data is collected in raw format that undergoes a strict filtering system to ensure that only the required data is left behind. The leftover data is properly validated and its authenticity (of source) is checked before using it further. We also collect and mix the data from our previous market research reports.
All the previous reports are stored in our large in-house data repository. Also, the experts gather reliable information from the paid databases.
For understanding the entire market landscape, we need to get details about the past and ongoing trends also. To achieve this, we collect data from different members of the market (distributors and suppliers) along with government websites.
Last piece of the ‘market research’ puzzle is done by going through the data collected from questionnaires, journals and surveys. VMR analysts also give emphasis to different industry dynamics such as market drivers, restraints and monetary trends. As a result, the final set of collected data is a combination of different forms of raw statistics. All of this data is carved into usable information by putting it through authentication procedures and by using best in-class cross-validation techniques.
Data Collection Matrix
| Perspective | Primary Research | Secondary Research |
|---|---|---|
| Supplier side |
|
|
| Demand side |
|
|
Econometrics and data visualization model
Our analysts offer market evaluations and forecasts using the industry-first simulation models. They utilize the BI-enabled dashboard to deliver real-time market statistics. With the help of embedded analytics, the clients can get details associated with brand analysis. They can also use the online reporting software to understand the different key performance indicators.
All the research models are customized to the prerequisites shared by the global clients.
The collected data includes market dynamics, technology landscape, application development and pricing trends. All of this is fed to the research model which then churns out the relevant data for market study.
Our market research experts offer both short-term (econometric models) and long-term analysis (technology market model) of the market in the same report. This way, the clients can achieve all their goals along with jumping on the emerging opportunities. Technological advancements, new product launches and money flow of the market is compared in different cases to showcase their impacts over the forecasted period.
Analysts use correlation, regression and time series analysis to deliver reliable business insights. Our experienced team of professionals diffuse the technology landscape, regulatory frameworks, economic outlook and business principles to share the details of external factors on the market under investigation.
Different demographics are analyzed individually to give appropriate details about the market. After this, all the region-wise data is joined together to serve the clients with glo-cal perspective. We ensure that all the data is accurate and all the actionable recommendations can be achieved in record time. We work with our clients in every step of the work, from exploring the market to implementing business plans. We largely focus on the following parameters for forecasting about the market under lens:
- Market drivers and restraints, along with their current and expected impact
- Raw material scenario and supply v/s price trends
- Regulatory scenario and expected developments
- Current capacity and expected capacity additions up to 2027
We assign different weights to the above parameters. This way, we are empowered to quantify their impact on the market’s momentum. Further, it helps us in delivering the evidence related to market growth rates.
Primary validation
The last step of the report making revolves around forecasting of the market. Exhaustive interviews of the industry experts and decision makers of the esteemed organizations are taken to validate the findings of our experts.
The assumptions that are made to obtain the statistics and data elements are cross-checked by interviewing managers over F2F discussions as well as over phone calls.
Different members of the market’s value chain such as suppliers, distributors, vendors and end consumers are also approached to deliver an unbiased market picture. All the interviews are conducted across the globe. There is no language barrier due to our experienced and multi-lingual team of professionals. Interviews have the capability to offer critical insights about the market. Current business scenarios and future market expectations escalate the quality of our five-star rated market research reports. Our highly trained team use the primary research with Key Industry Participants (KIPs) for validating the market forecasts:
- Established market players
- Raw data suppliers
- Network participants such as distributors
- End consumers
The aims of doing primary research are:
- Verifying the collected data in terms of accuracy and reliability.
- To understand the ongoing market trends and to foresee the future market growth patterns.
Industry Analysis Matrix
| Qualitative analysis | Quantitative analysis |
|---|---|
|
|
