• Stacy Lawlor

Global High Performance Composites Market Size to grow USD 40.5 Bn in 2028

The Global High Performance Composites Market Size was valued at USD 22.3 Bn in 2021. The market is projected to grow USD 40.5 Bn in 2028, at a CAGR of 6%.

Global High Performance Composites Market Size to grow USD 40.5 Bn in 2028

Fiber and resin are the two separate components that make up composites. The novel substance, which differs from fibre 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.

Global High Performance Composites Market Size to grow USD 40.5 Bn in 2028

Request Free Sample To Learn More About This Report


The expanding usage of high-performance composites in wind turbine blades will help boost the sector. The rapidly expanding demand from a variety of end-use applications is driving the market for high-performance composites. The enormous growth of the commercial aircraft manufacturing business has fueled the demand for high-performance composites. Another potential market driver is the use of these composites in the manufacture of wind turbines. Discontinuous fibres are combined with thermoplastic resins, which do not contribute strength to the composites. Fibers are primarily used to give these items structural strength. They improve the composites' rigidity and high tensile strength while lowering the weight of the completed component. This improves the end product's performance.


Traditional automobile manufacturing materials such as steel and aluminium are considered to be weaker alternatives to high-performance composites. Their prices are also predicted to decrease in the future, increasing their market share in this application. Machines in factories, which were historically made of iron and steel, are among the industrial applications. However, with the introduction of high-performance composites, this sector's applicability is likely to decline.


The s-glass composites segment dominated the global high performance composites market share owing because of its capacity to endure the impact of force, military aircraft are increasingly using S-glass high-performance composites for fuselage skins, floor panels, and fire walls. The thermoplastic segment dominated the global high performance composites market share owing to the rising use of high-performance thermoplastic composites in many sectors can be attributed to their flexibility in re-melting and reforming due to the absence of crosslinking in thermoplastic resins. The automotive segment dominated the global high performance composites market share owing to the huge development in automotive in turn increasing demand for high performance composites. The demand for high-performance composites in various applications is being driven by the growing demand for lightweight and high-strength materials.

Global High Performance Composites Market Size to grow USD 40.5 Bn in 2028

Request Free Sample To Learn More About This Report


North America region is expected to dominate the market share of global High Performance Composites Market owing to the heavy investments on high performance composites developments and presence of major automotive manufacturers which are focusing on shifting the concept of IC engines along with healthcare lightweight and fuel-efficient engines. Furthermore, the region is implementing more renewable energy policies. For instance, BMW and Audi are building hydrogen fuel-cell passenger vehicle prototypes alongside their fleets of battery cars. However, Asia Pacific is expected to account highest CAGR across the forecast period due to the growing capabilities for the development in infrastructures for storing high performance composites. For instance, according to the survey in 2020, Korea and Japan are leading the way among Asian countries is investing on high performance composites projects. Both countries, particularly its industrial behemoths such as Toyota and Hyundai, are pioneering hydrogen fuel cell fiber type as one of several potential clean automotive options.


KEY INDUSTRY DEVELOPMENTS:


February 2022- Arkema has announced to sign a Memorandum of Understanding (MOU) with Adani for the commercialization of fuel cells in various mobility and industrial resin types in India.


Read More Details On This Report:

https://extrapolate.com/Chemicals-and-Advanced-Materials/high-performance-composites-market/25690

8 views