Owing to durable, lightweight, chemical & heat resistance nature of high performance composites is generating high demand within aerospace, automotive, construction, and oil & gas industries are driving the market growth. Rising need of the renewable source of energy especially from developed countries is likely to foster the demand of high performance composites in forecasting period. Increasing application of high performance composites in automotive & aerospace industry owing to need of lightweight & durable materials is anticipated to boost the market growth.
The latest report by Value Market Research expects the Global High Performance Composite Market to reach at USD XX.X MN from the year 2019 to 2026 with a CAGR of X.X%. Whereas, by volume, the market was estimated at XX.X KT in 2019 and is expected to reach XX.X KT by 2026 with a CAGR of X.X%.
S-GLASS TO GAIN MAXIMUM REVENUE BY THE END OF 2024
S-glass has dominated the fiber segment owing to high strength, improved mechanical properties and resistance to chemicals & heat are the factors driving the segment growth. S-glass fiber is presumed to reach up to USD 21,864.1 MN by the end of the year 2024. Booming construction sector will directly upsurge the demand of s-glass owing to rising use in building facades, piping, channels & others.
THERMOPLASTICS DOMINATED THE RESIN SEGMENT
Thermoplastic has led the segment and is expected to the maintain its dominance by the end of the year 2024. Owing to an increase in demand & production capacities from end-use industries such as construction, automotive, transport & others are boosting the segment growth.
AEROSPACE DOMINATED THE APPLICATION SEGMENT
By application, aerospace led the segment owing to lightweight, stiff materials with enhanced mechanical properties are boosting the application of composites in the aerospace industry.
EUROPE DOMINATED THE REGIONAL MARKET
Europe is expected to reach at USD 7,821.63 MN by the end of the year 2024. Europe has led the regional segment owing to the growing demand for the product from Eastern European countries like Russia, Bulgaria, and Romania.
KEY PLAYERS OF THE MARKET
Major vendors of the high performance composite market are Arkema SA, BASF, E. I. Du Pont De Nemours And Company, Hexcel Corporation, Hyosung Corp., Koninklijke Tencate NV, Owen Corning, SGL Carbon SE, Solvay SA, Teijin Ltd and Toray Industries.
As per this study the global high performance composite market was valued USD XX.X MN (by revenue) in 2019 and is anticipated to reach USD XX.X MN by 2026 with a CAGR of X.X%. By volume, the market was estimated at XX.X KT in 2019 and is expected to reach XX.X KT by 2026 with a CAGR of X.X%.
Composite or fiber-reinforced polymer (FRP) refers to materials prepared by the combination of two or more materials to gain enhanced physiochemical properties. Composites are matrix polymers, reinforced with man-made or natural occurring fiber. These materials exhibit superior strength, stiffness, and low weight and can be formed into complex shapes. Introduction of widespread glass and resin combinations in high performance composites makes is an ideal material to achieve specific performance requirements. Thus, composite materials are replacing metal and plastic in numerous industrial application.
Increase in fuel prices and a rise in demand for automobiles globally is expected to propel the need for lightweight and fuel-efficient vehicles across the globe. Carbon fiber application in wind energy is a major application segment for carbon fiber and its composites. Owing to stringent carbon emission norms, there is a great demand for renewable energy sources from developed countries. Wind energy is one of the cleanest forms of renewable energy. The increased capacities of wind energy installations are expected to be a boon for the carbon fiber market. The building & construction industry has traditionally been the largest consumer of glass fibers. Glass fiber reinforced composites find extensive use in various residential, non-residential, and commercial building applications. However, recyclability concerns of high performance composite may hinder the market growth.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of high performance composite.
The broad high performance composite market has been sub-grouped into fiber, resins and application. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
By Fibers Market Share 2019
- Carbon Fibre
- Aramid Fibre
- Industrial and Automotive
- Defence and Safety
Furthermore, the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for high performance composite in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Europe High Performance Composite Market By Revenue (USD MN)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the high performance composite market include Arkema SA, BASF SE, E. I. Du Pont De Nemours and Company, Hexcel Corporation, Hyosung Corp., Koninklijke Tencate NV, Owen Corning, Sgl Carbon SE, Solvay SA, Teijin Ltd, and Toray Industries. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
Major Company Players Market Share
A combination of primary and secondary research has been used to determine the market estimates and forecasts. Sources used for secondary research include (but not limited to) Paid Data Sources, Company Websites, Technical Journals, Annual Reports, SEC Filings and various other industry publications. Specific details on methodology used for this report can be provided on demand.