High Performance Composites Market
High Performance Composites Market Forecasts to 2030 - Global Analysis By Type (Carbon Fiber Composites, Glass Fiber Composites, Aramid Fiber Composites, Natural Fiber Composites and Other Types), Matrix Type, Form, Manufacturing Process, End User and By Geography
|
Years Covered |
2022-2030 |
|
Estimated Year Value (2024) |
US $0.7 BN |
|
Projected Year Value (2030) |
US $1.1 BN |
|
CAGR (2024 - 2030) |
7.9% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
North America |
|
Highest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global High Performance Composites Market is accounted for $67.6 billion in 2024 and is expected to reach $127.2 billion by 2030 growing at a CAGR of 11.1% during the forecast period. High Performance Composites are advanced materials engineered to deliver superior mechanical, thermal, and chemical properties compared to traditional materials. They typically consist of a matrix, often polymer-based, reinforced with fibers such as carbon, glass, or aramid. These composites are designed to withstand extreme conditions, making them ideal for applications in aerospace, automotive, and sporting goods industries. Their lightweight nature combined with high strength and durability enables innovative designs and improved efficiency, contributing significantly to performance enhancement in various technologies.
According to Boeing, the airline sector is estimated to demand more than 44,000 new commercial airplanes, worth US$6.8 trillion by the year 2038. According to the Boeing Commercial Market Outlook 2021-2040, North America will demand 9,160 new airplane deliveries by the end of 2040.
Market Dynamics:
Driver:
Growing demand for lightweight materials
The demand for lightweight materials in the market is rapidly increasing due to the need for enhanced fuel efficiency and performance across various industries, including aerospace and automotive. These advanced composites reduce weight while maintaining strength, contributing to lower emissions and improved speed. Additionally, regulatory pressures for sustainability further drive their adoption, making lightweight materials crucial for innovation and competitive advantage in engineering and manufacturing.
Restraint:
Labor-intensive manufacturing processes
Labor-intensive manufacturing processes in the market can lead to several negative effects, including higher production costs and extended lead times. These processes often require skilled labor, making it challenging to maintain consistent quality and increasing the risk of human error. Additionally, reliance on manual techniques can limit scalability and flexibility, hindering the ability to meet growing market demands. Overall, these challenges can impact competitiveness and profitability for manufacturers in this sector.
Opportunity:
Advancements in composite manufacturing technologies
Advancements in composite manufacturing technologies are significantly transforming the market. Innovations such as automated fiber placement and resin transfer molding enhance efficiency, reduce waste, and improve consistency in production. These technologies enable the creation of complex geometries and lightweight structures while accelerating production times. As a result, manufacturers can meet increasing demand while optimizing performance and cost-effectiveness, driving further growth and innovation within the industry.
Threat:
Lack of uniform regulations
The lack of uniform regulations in the market can lead to significant challenges, including inconsistent product quality. This disparity creates barriers for manufacturers, as compliance with varying regulations across regions increases costs and complicates supply chains. Additionally, it can result in market fragmentation, making it difficult for companies to compete effectively. Ultimately, the absence of standardized regulations may hinder innovation and slow down the adoption of advanced composite materials.
Covid-19 Impact:
The COVID-19 pandemic significantly impacted the market by disrupting supply chains and halting production across various industries, particularly aerospace and automotive. Delays in raw material sourcing and labor shortages hindered manufacturing capabilities, leading to project postponements. However, the crisis also accelerated the shift towards lightweight and sustainable materials, as industries sought to improve efficiency post-pandemic. As demand gradually recovers, the market is poised for transformation driven by these emerging trends.
The carbon fiber composites segment is projected to be the largest during the forecast period
The carbon fiber composites segment is projected to account for the largest market share during the projection period. hese materials are widely used in aerospace, automotive, and sporting goods industries, enabling innovative designs that enhance performance and fuel efficiency. Carbon fiber composites also offer excellent fatigue resistance and corrosion resistance, making them ideal for demanding applications. As technology advances, their adoption continues to grow, driving significant market expansion and innovation.
The hand layup segment is expected to have the highest CAGR during the forecast period
The hand layup segment is expected to have the highest CAGR during the extrapolated period. While this method allows for detailed craftsmanship and flexibility in small-scale production, it can be labour-intensive and time-consuming. Hand layup is often used for custom parts, prototypes, and low-volume applications. Despite its limitations, the technique remains popular due to its cost-effectiveness and ability to produce high-quality, complex geometries in composite materials.
Region with largest share:
North America region is projected to account for the largest market share during the forecast period. Increased demand for lightweight and durable materials to enhance fuel efficiency and performance is propelling innovation. Key players in the region are investing in research and development, leading to the adoption of advanced manufacturing technologies. Additionally, stringent regulations on emissions and sustainability are further fueling the shift towards high-performance composite materials in various applications.
Region with highest CAGR:
Asia Pacific is expected to register the highest growth rate over the forecast period driven by technological advancements. Innovations in manufacturing processes, such as automated lay-up and continuous fiber reinforcement, are enhancing the production capabilities of high-performance composites. There is a growing emphasis on sustainability, leading to increased adoption of composite materials that meet environmental standards while offering superior performance characteristics.
Key players in the market
Some of the key players in High Performance Composites market include Toray Industries, Inc., Solvay S.A. , Hexcel Corporation, SGL Carbon, Teijin Limited, Arkema S.A., Mitsubishi Chemical Corporation, DuPont de Nemours, Inc., Huntsman International LLC, 3M Company, Kineco Group, PPG Industries, Inc. and TPI Composites, Inc.
Key Developments:
In May 2024, TPI Composites collaborated with the University of Maine and Oak Ridge National Laboratory to use the largest polymer 3D printer in the world, Ingersoll MasterPrint, to develop wind turbine tooling. This advanced printer can produce modular tooling at a rate of 500 pounds per hour, with precision suitable for wind blade manufacturing.
In March 2024, Arkema, in collaboration with Hexcel, completed their first aeronautical structure using high-performance thermoplastic composites. This initiative was a part of the HAICoPAS project, which optimized the production of composite tapes made from Arkema's Kepstan PEKK resin and Hexcel's carbon fibers.
Types Covered:
• Carbon Fiber Composites
• Glass Fiber Composites
• Aramid Fiber Composites
• Natural Fiber Composites
• Other Types
Matrix Types Covered:
• Polymer Matrix Composites (PMC)
• Metal Matrix Composites (MMC)
• Ceramic Matrix Composites (CMC)
Forms Covered:
• Prepregs
• Laminates
• Sandwich Panels
• Molded Composites
• Filament Wound Composites
Manufacturing Processes Covered:
• Hand Layup
• Spray-up
• Resin Transfer Molding (RTM)
• Vacuum Infusion
• Filament Winding
End Users Covered:
• Aerospace & Defense
• Automotive
• Construction
• Energy
• Medical
• Consumer Goods
• Electronics
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 End User Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global High Performance Composites Market, By Type
5.1 Introduction
5.2 Carbon Fiber Composites
5.3 Glass Fiber Composites
5.4 Aramid Fiber Composites
5.5 Natural Fiber Composites
5.6 Other Types
6 Global High Performance Composites Market, By Matrix Type
6.1 Introduction
6.2 Polymer Matrix Composites (PMC)
6.3 Metal Matrix Composites (MMC)
6.4 Ceramic Matrix Composites (CMC)
7 Global High Performance Composites Market, By Form
7.1 Introduction
7.2 Prepregs
7.3 Laminates
7.4 Sandwich Panels
7.5 Molded Composites
7.6 Filament Wound Composites
8 Global High Performance Composites Market, By Manufacturing Process
8.1 Introduction
8.2 Hand Layup
8.3 Spray-up
8.4 Resin Transfer Molding (RTM)
8.5 Vacuum Infusion
8.6 Filament Winding
8.7 Pultrusion
9 Global High Performance Composites Market, By End User
9.1 Introduction
9.2 Aerospace & Defense
9.3 Automotive
9.4 Construction
9.5 Energy
9.6 Medical
9.7 Consumer Goods
9.8 Electronics
9.9 Other End Users
10 Global High Performance Composites Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 Toray Industries, Inc.
12.2 Solvay S.A.
12.3 Hexcel Corporation
12.4 SGL Carbon
12.5 Teijin Limited
12.6 Arkema S.A.
12.7 Mitsubishi Chemical Corporation
12.8 DuPont de Nemours, Inc.
12.9 Huntsman International LLC
12.10 3M Company
12.11 Kineco Group
12.12 PPG Industries, Inc.
12.13 TPI Composites, Inc.
List of Tables
1 Global High Performance Composites Market Outlook, By Region (2022-2030) ($MN)
2 Global High Performance Composites Market Outlook, By Type (2022-2030) ($MN)
3 Global High Performance Composites Market Outlook, By Carbon Fiber Composites (2022-2030) ($MN)
4 Global High Performance Composites Market Outlook, By Glass Fiber Composites (2022-2030) ($MN)
5 Global High Performance Composites Market Outlook, By Aramid Fiber Composites (2022-2030) ($MN)
6 Global High Performance Composites Market Outlook, By Natural Fiber Composites (2022-2030) ($MN)
7 Global High Performance Composites Market Outlook, By Other Types (2022-2030) ($MN)
8 Global High Performance Composites Market Outlook, By Matrix Type (2022-2030) ($MN)
9 Global High Performance Composites Market Outlook, By Polymer Matrix Composites (PMC) (2022-2030) ($MN)
10 Global High Performance Composites Market Outlook, By Metal Matrix Composites (MMC) (2022-2030) ($MN)
11 Global High Performance Composites Market Outlook, By Ceramic Matrix Composites (CMC) (2022-2030) ($MN)
12 Global High Performance Composites Market Outlook, By Form (2022-2030) ($MN)
13 Global High Performance Composites Market Outlook, By Prepregs (2022-2030) ($MN)
14 Global High Performance Composites Market Outlook, By Laminates (2022-2030) ($MN)
15 Global High Performance Composites Market Outlook, By Sandwich Panels (2022-2030) ($MN)
16 Global High Performance Composites Market Outlook, By Molded Composites (2022-2030) ($MN)
17 Global High Performance Composites Market Outlook, By Filament Wound Composites (2022-2030) ($MN)
18 Global High Performance Composites Market Outlook, By Manufacturing Process (2022-2030) ($MN)
19 Global High Performance Composites Market Outlook, By Hand Layup (2022-2030) ($MN)
20 Global High Performance Composites Market Outlook, By Spray-up (2022-2030) ($MN)
21 Global High Performance Composites Market Outlook, By Resin Transfer Molding (RTM) (2022-2030) ($MN)
22 Global High Performance Composites Market Outlook, By Vacuum Infusion (2022-2030) ($MN)
23 Global High Performance Composites Market Outlook, By Filament Winding (2022-2030) ($MN)
24 Global High Performance Composites Market Outlook, By Pultrusion (2022-2030) ($MN)
25 Global High Performance Composites Market Outlook, By End User (2022-2030) ($MN)
26 Global High Performance Composites Market Outlook, By Aerospace & Defense (2022-2030) ($MN)
27 Global High Performance Composites Market Outlook, By Automotive (2022-2030) ($MN)
28 Global High Performance Composites Market Outlook, By Construction (2022-2030) ($MN)
29 Global High Performance Composites Market Outlook, By Energy (2022-2030) ($MN)
30 Global High Performance Composites Market Outlook, By Medical (2022-2030) ($MN)
31 Global High Performance Composites Market Outlook, By Consumer Goods (2022-2030) ($MN)
32 Global High Performance Composites Market Outlook, By Electronics (2022-2030) ($MN)
33 Global High Performance Composites Market Outlook, By Other End Users (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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