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 research report on High Performance Composites Market:
https://www.grandviewresearch.com/industry-analysis/global-high-performance-composites-market
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
request sample of this report by Grand View Research: https://www.grandviewresearch.com/industry-analysis/global-high-performance-composites-market/request/rs1
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
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Asia
Pacific
- China
- Japan
- India
- South
Korea
- Central
& South America
- Brazil
- Middle
East & Africa
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.
For
more info visit @ https://www.grandviewresearch.com
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