High-Performance Composites Market Overview:
High Performance Composites is increasing owing to the rising investments for innovating high strength lightweight materials by aerospace manufacturers. Reduction of weight saves fuel, thereby, decreasing the cost and thus results in fuel efficiency. The ability to withstand the extreme weather conditions of high-performance composite is unattainable by conventional materials which makes it an ideal choice of material for applications in construction, aerospace, and automotive industries.
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High-Performance Composites Market Competitive Analysis:
The leading players in the global high-performance composites market are SABIC (Saudi Arabia), BASF SE (Germany), Owens Corning (US), Solvay (Belgium), TPI Composites (US), TEIJIN LIMITED (Japan), Huntsman International LLC (US), SGL Group (Germany), Hexcel Corporation (US), TORAY INDUSTRIES, INC. (Japan), Albany International Corporation (US), Arkema (France), ARGOSY INTERNATIONAL (US), Northrop Grumman Corporation (US) and 3M (US).
High-Performance Composites Market Segmentation:
The global high-performance composites market has been segregated on the basis of material, application, and region.
On the basis of application, the global high-performance composites market has been divided into automotive, consumer goods, construction, aerospace, electronics, energy, and others. In 2017, the aerospace segment held the largest share of this market. High-performance composites have predominantly been used in aerospace wide body wings, engine blades, single aisle wings, nacelles, rotors, and brackets.
High-Performance Composites Market Regional Analysis:
North America contributes the largest share in the global high-performance market due to the US government directive to enhance fuel efficiency for new automotive to about 54.6 miles per gallon by the end of 2023 which has increased the usage of high-performance composites. Asia-Pacific is significantly growing with healthy CAGR owing to robust demand for fuel efficient and lightweight composite materials in the automotive and aerospace industries.
The regional market in Europe is projected to grow with healthy CAGR owing to the presence of large number of automotive parts manufacturers in the region. Advancement in technology in the field of vehicles aesthetical design and speed is increasing the demand for high-performance composites in automotive industries.
High-Performance Composites Market Table of Content to be Continue…….,
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