A recent report ongoing study by Infinium Global Research on high performance composites market provides in-depth analysis of segments and sub-segments in the global as well as regional high performance composites market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional high performance composites market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global high performance composites market. According to the report, the global high performance composites market is projected to grow at a significant CAGR over the forecast period of 2021-2027.
High performance composites (HPCs) are sophisticated materials made up of matrices such as metals, ceramics, polymers, etc.) and reinforcements such as particles, fillers, fibres, etc. Strength and modulus are principally determined by the use of oriented continuous fibres as reinforcements in high performance composites. Carbon fibre reinforced composites with adjustable stiffness have the potential to revolutionize the usage of composite materials in structural applications. High performance composites come in different materials such as resins and fibers with applications in automotive, aerospace and defense, electronics, consumer electronics, energy, and other industries. With the rise in new applications of high performance composites across industries, the scope of the market is only expected to expand with time.
The high performance composites are in high demand due to their distinct properties. Its distinct properties such as lightweight, high strength, durability, tensile strength, and non-corrosive nature have made it favorable for diverse applications across industries. Thus, its distinct and extensive properties have resulted in its widespread adoption. High performance composites are being widely used in a range of industries such as automotive, aerospace and defense, electronics, energy, and others. These high composite materials have replaced some of the conventional metals and their alloys. As the scope of these industries is growing their demand for high composite materials is expected to rise over the course of time. The only factor restraining the growth of the factor is the high cost associated with the production of high performance of composites. Nevertheless, new opportunities will occur in the market as an investment in the R&D of new high performance composites is growing.
Asia-Pacific is expected to dominate the high performance composites market as there is high demand for high performance composites from the automotive and electronics as well as energy industries of Asia-Pacific. The automotive industry is strong in countries such as China, South Korea, India, Japan, and others with global brands such as Toyota, Suzuki, Tata Motors, Hyundai, Nissan, SAIC Motor, and others. While electronics industry is also strong in Asia-Pacific with brands such as Xiaomi, Samsung, LG Electronics, and Panasonic operating in the region. The use of high performance composites is growing in these industries as the scope of these industries is increasing rapidly. Also, Asia-Pacific has been the bastion of high performance composites manufacturers such as Teijin Limited, Toray Industries, Inc., and others. North America is expected to be the second largest region as the demand from end user industries such as Aerospace and Defense and Automotive for high performance industries is growing. Companies such as SpaceX, Lockheed Martin, Boeing, Ford Motors, and General Motors are increasingly using high performance composites in their products.
The report on the global high performance composites market covers segments such as material, and end users. On the basis of material, the sub-markets include resins, and fibers. On the basis of end users, the sub-markets include automotive, aerospace and defense, consumer goods, electronics, energy, and others.
The report provides profiles of the companies in the market such as Toray Industries, Inc., BASF SE, SGL Group-The Carbon Company, Solvay S.A., Teijin Limited, Owens Corning Corporation, Koninklijke TenCate NV, Huntsman International LLC, Arkema, AGY, and SABIC.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of high performance composites market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.