Global High-Performance Composites Market to 2028: Growing Technological Advancement for Sustainable Development Fuels the Sector
DUBLIN, April 24, 2023 /PRNewswire/ — The “High-Performance Composites Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Resin Type, By Fiber Type, By Manufacturing Process, By Application, By Region, and Competition” report has been added to ResearchAndMarkets.com’s offering.
The global High-Performance Composites Market is projected to grow at an impressive rate through 2028 due to increasing demand of high strength materials. China accounted for 31.2 percent of global manufacturing output in 2021.
- Solvay SA
- BASF SE
- Chevron Phillips Chemical Co., LLC
- Toray Industries Inc.
- LyondellBasell Industries N.V.
- Owens Corning Corporation
- Honeywell International Inc.
- Teijin Limited
- Asahi Kasei Fibers Corp
Composites are made up of two independent elements, fiber, and resin. The unique substance, which has features that set it apart from fiber and resin, stands out for its high stiffness, strength, and lightweight. These properties have increased demand for the substance across several industries, including aerospace, defense, and transportation. Epoxy resin is frequently used as the matrix in high-performance polymer composites for aeronautical and astronautical applications.
High-performance composites are made from carbon, glass, aramid, quartz, ultrahigh-molecular-weight polyethylene, ceramic, boron, and new fibers like poly (p-phenylene benzothiazole) (PBO) fibers.
Due to their high tensile strength, high thermal conductivity, and low weight, these materials are frequently used in various industries, including automotive, wind turbines, medical, construction, aerospace, and defense.
The increased demand for glass and carbon fiber high-performance reinforced plastics in Airbus airplanes and the growing use of high-performance composites in wind turbine blades are the primary drivers of the high growth rate of the high-performance composites market.
Growing Demand for Lightweight and High-Strength Materials
Fiber and resin are two separate components that are combined to form composites. The novel substance is distinguished by high strength, stiffness, and low weight, displaying distinct qualities from fiber and resin. These characteristics have raised the demand for the product across various industries, including aerospace, defense, and automotive.
Growth in the high-performance composites market is anticipated due to the rising demand for lightweight materials. Automobiles with lighter curb weights are more efficient, which reduces the need for fossil fuels. Environmental bodies like the EPA have pushed using such materials to preserve the ecological balance.
Low-Cost Substitute for Metals
High-performance composites are considered superior to conventional auto manufacturing materials like steel and aluminum, which are thought to be weaker. Furthermore, the expansion of the automotive industry and the rising popularity of aviation impact the market for high-performance composites.
On the other hand, the market growth for high-performance composites is constrained by the high costs of raw materials, manufacture, and assembly. Fiber composites have been used for a very long time in aerospace and aviation applications.
However, it is anticipated that the widespread usage of carbon fiber in next-generation commercial aircraft will reduce fuel consumption by about 20% while also offering advantages that will enhance passenger comfort. With high-performance composite, approximately 40% cost reduction is possible, which helps in the competitive price of the product.
Growing Technological Advancement for Sustainable Development
Advanced carbon and glass fiber-reinforced polymer (FRP) composites are particularly intriguing for industrial and clean-energy applications. Carbon fiber-reinforced polymer composites outperform many structural materials in terms of structural strength-to-weight ratio and corrosion resistance.
To increase the performance of industrial machinery and components, corrosion resistance and other properties can be added to composites. For instance, fiber-reinforced polymer composites may create more effective heat exchangers, fans, blowers, and other machinery that can withstand corrosive or high-temperature processes, durable pipelines and tanks, and machinery with better electrical insulation.
In this report, Global Edible Packaging Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Global High-Performance Composites market by resin type:
- High-Performance Thermoset Composites
- High-Performance Thermoplastic Composites Polyethylene
- Global High-Performance Composites market by fiber type:
- Carbon fiber Composites
- Aramid fiber Composites
- S-Glass Composites
Global High-Performance Composites market, by manufacturing process:
- Lay-Up Process
- Resin Transfer Molding Process
- Compression Molding Process
Global High-Performance Composites market, by application:
- Aerospace & Defense
- Automotive, Medical
- Wind Turbines
For more information about this report visit https://www.researchandmarkets.com/r/6hlsqm
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