New York
City, 01 February 2019: The 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.
 |
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 CompositesMarket, 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.
No comments:
Post a Comment