The global high performance composites market is expected to reach USD 81.63 billion by 2025,
according to a new report by Grand View Research, Inc. Growing demand for high
performance composites from aerospace & defense sectors is expected to play
a key role in the growth of the market over the forecast period.
The products possess
superior mechanical properties including high chemical resistance and
stiffness, courtesy which they have witnessed an increase in demand in
construction, consumer goods, and energy sectors. Increasing consumption in the
automobile industry, as an alternative to traditional materials such as steel
and aluminum, is also expected to be one of the key drivers of the market.
Asia Pacific was the
largest market for high performance composites in 2016. This region, with
growing consumption from the above-mentioned industries, is also expected to
witness the highest growth in this market over the next eight years. China and
Japan, which are home to some of the largest electronics and automobile
companies, dominated the Asia Pacific high performance composites market in
2016.
Browse full report by Grand View Research:
Further
key findings from the report suggest:
·
The global market is projected to reach USD
81.63 Billion by 2025, growing at a CAGR of 8.2% from 2017 to 2025
·
The market for resins was valued at USD 23
billion in 2016, the highest among all materials, on account of growing demand
for thermoset resins from composites manufacturers
·
The automotive and industrial segment is
projected to grow at the highest CAGR of 10% by revenue from 2017 to 2025. This
segment is driven by growing demand from pressure vessel and passenger car
manufacturers
·
The U.S. accounted for 82% of the total
North American demand in 2016 courtesy an increase in demand for composites
from major aircraft manufacturer, Boeing, as well as automobile players
including Ford Motors and General Motors
·
Asia Pacific market is expected to grow at
the highest CAGR of 9% from 2016 to 2025. This region is characterized by
growing demand for composites from the automobile and construction sectors in
emerging countries.
·
BASF, Arkema, Hexcel Corporation, and
Solvay were the major players in the market in 2016. New product developments
and investments in R&D, in order to lower the prices were key growth
strategies adopted by these players from 2011 to 2016.
Browse
more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/specialty-glass-ceramic-and-fiber
Grand View Research has
segmented the global high performance composites market on the basis of
material, application, and region:
High Performance Composites Material Outlook (Revenue,
USD Billion; Volume, Kilotons; 2014 - 2025)
·
Resins
·
Fibers
High Performance Composites Application Outlook (Revenue,
USD Billion; Volume, Kilotons; 2014 - 2025)
·
Aerospace
·
Automotive & Industrial
·
Energy
·
Consumer Goods
·
Defense
·
Electronics
·
Construction
·
Others
High Performance Composites Regional Outlook (Revenue,
USD Billion; Volume, Kilotons; 2014 - 2025)
·
North America
o U.S.
o Canada
·
Europe
o Germany
o UK
o France
·
Asia Pacific
o China
o Japan
o India
o South Korea
·
Central & South America
o Brazil
·
Middle East & Africa
Access press release by
Grand View Research: http://www.grandviewresearch.com/press-release/high-performance-composites-market
About Grand View
Research
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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