Report Code: CMI47883

Published Date: May 2024

Pages: 320+

Category: Chemicals And Materials

Report Snapshot

CAGR: 10.1%
12.8B
2023
13.9B
2024
35.9B
2033

Source: CMI

Study Period: 2024-2033
Fastest Growing Market: Asia-Pacific
Largest Market: Europe

Major Players

  • Hexcel Corporation
  • Teijin Limited
  • Toray Industries Inc.
  • Solvay S.A.
  • Owens Corning
  • Others

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Reports Description

Global High Performance Composites Market was valued at USD 13.9 Billion in 2024 and is expected to reach USD 35.9 Billion by 2033, at a CAGR of 10.1% during the forecast period 2024 – 2033.

High-performance composites are sophisticated materials designed to have superior thermal, mechanical, and chemical qualities that outperform standard materials such as plastics, metals, and ceramics. They are generally made up of reinforcing fibers and a matrix substance, such as epoxy resin, polyester fibers or polymeric resin.

High Performance Composites Market: Growth Factors

Surge in residential construction activities

The growth in residential building activity has been a major driver of the high-performance composites sector. As urbanisation accelerates and populations rise, there is a greater need for lightweight, strong, and energy-efficient components in home construction.

High-performance composites, identified for their remarkable strength-to-weight ratio, resistance to corrosion, and adaptability, are becoming increasingly popular among builders and architects for a variety of residential uses.

These composite materials, including carbon fibre-reinforced polymers (CFRPs), glass fibre-reinforced polymers (GFRPs), and aramid fiber composites, provide more structural integrity and flexibility for the design than traditional construction materials such as steel, concrete, and wood.

Furthermore, their minimal maintenance needs and long lifespan lead to cost savings over time. Consequently, the growing residential building industry encourages the use of high-performance composites, providing the demand for green construction. U.S. construction expenditure rose more than expected in 2023, driven by a boom in single-family homebuilding, and additional gains are forecast as mortgage rates fall.

The Commerce Department reported that construction spending increased by 0.9%. The data for November was revised upward, showing that construction spending increased by 0.9% rather than 0.4% as initially reported.

Growing demand for sustainable composites solutions

The rising need for environmentally friendly and viable composite materials solutions arises from several factors driving consumer tastes and regulations. Environmental awareness among customers and companies is increasingly influencing purchase decisions, resulting in a greater demand for items with low environmental effects.

Composites, which are often made up of fibers and resins, provide an alternative to conventional materials such as metals and plastics. These materials may be developed to have desirable attributes like durability, toughness, and lightweight solutions while still being environmentally friendly and recyclable.

Furthermore, severe legislation and government activities aimed at lowering carbon emissions and encouraging sustainable practices encourage the use of eco-friendly composites. Automobiles, aviation, construction, and consumer goods industries are actively pursuing novel materials that minimize environmental impact.

Furthermore, advances in composite manufacturing technology have allowed for the production of bio-based and recycled composite materials, which has increased their commercial appeal. In general, the transition to sustainable composites shows a larger commitment to environmental stewardship, as well as a realization of the necessity of long-term solutions to future concerns.

High Performance Composites Market: Restraints

High raw material price

High maintenance requirements can drive up operational expenses, making safety measures less affordable for industrial sites, particularly those with limited budgets. Furthermore, frequent maintenance procedures can disturb normal operations, resulting in downtime and decreased productivity for industrial units.

Furthermore, if security systems are extremely complicated or need specialized skills for maintenance, it may be difficult to locate trained individuals to undertake these duties, increasing maintenance concerns. Moreover, relying on regular maintenance might pose vulnerabilities if scheduled maintenance is not followed, possibly jeopardizing the efficiency of the security system and leaving the facility vulnerable to security breaches.

As a consequence, high maintenance costs may discourage industrial clients from buying security systems, stifling market growth.

Global High Performance Composites Market 2024–2033 (By Resin Type)

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High Performance Composites Market: Opportunities

Progressions in manufacturing technologies

Manufacturing technology advancements are critical to the growth of the high-performance composites industry. These advancements enable the creation of composites with improved features such as strength, stiffness, longevity, and lightweight.

One notable innovation has been the introduction of automated production techniques like automated fiber placement (AFP) and automatic tape laying (ATL), which assure exact fiber orientation and uniform quality, resulting in improved composite component performance and dependability.

Moreover, additive manufacturing (3D printing) techniques are transforming the manufacture of complex composite structures, enabling rapid prototyping and customization while reducing material waste. Furthermore, advances in nanotechnology make it easier to include nanomaterials such as carbon nanotubes and graphene into composite materials, which have superior mechanical, electrical, and thermal characteristics.

Furthermore, innovations in resin formulation and curing techniques help to increase adhesion between fibers and matrices, leading to increased strength-to-weight ratios and greater resilience to environmental variables like corrosion and fatigue. In summary, technical developments promote innovation, broaden the application possibilities, and boost the use of high-performance composites in industries that include aircraft, automobiles, solar energy, and construction.

Global High Performance Composites Market 2024–2033 (By Fiber Type)

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High Performance Composites Market: Segmentation Analysis

Global High Performance Composites market is segmented by resin type, fiber type, application and region.  Based on resin type, the market is classified as thermoset resins and thermoplastic resins. Thermoset resins dominated the market in 2023 with a market share of 67.8% and are expected to keep their dominance during the forecast period 2024-2033.

Thermoset resins play an integral part in pushing the high-performing composites market owing to their distinctive characteristics and flexibility. When these resins, which include epoxy, polyester fibres and phenolic, are cured, they undergo irreversible polymerization, producing a strong, durable matrix that improves the mechanical rigidity, strength, and resistance to heat of composite materials.

The capacity of these components to tolerate high temperatures, corrosive conditions, and mechanical strain makes them excellent for demanding applications in the aviation, automobile, marine, and wind energy industries. Furthermore, thermoset resins have good adhesion to reinforcing fibres such as carbon fibre, glass fibre, and aramid fibre, allowing for the creation of lightweight yet extremely durable structures.

As businesses increasingly seek thin, high-strength substances to increase performance and fuel economy, thermoset resins remain a popular choice, fuelling development in the high-performance composites market globally.

Based on fiber type, the market is classified into carbon fiber composites, s-glass composites, aramid fiber composites and others. Carbon fiber composites dominated the market in 2023 with a market share of 48.2% and are expected to keep their dominance during the forecast period 2024-2033.

Carbon fibre composites have emerged as a significant driver in the powerful composites industry due to their superior qualities. Carbon fibres have a high strength-to-weight ratio, outstanding stiffness, corrosion resistance, and stress endurance, which makes them perfect for applications that need lightweight and durable materials.

Carbon fibre composites are used in sectors such as aviation, automobiles, sports and recreation, and wind energy to improve performance, fuel efficiency, and environmental sustainability. Carbon fibre composites allow for the creation of lightweight aeroplane components, which reduce fuel consumption and pollutants.

In the automobile industry, these materials help to build fuel-efficient vehicles with increased structural integrity and safety in crashes. In addition, developments in carbon fibre production techniques and enhanced accessibility have further spurred their acceptance across numerous sectors, propelling the growth of the high-performance composites market.

Based on application, the market is classified into aerospace & defense, automotive, wind turbine, pressure vessel, and others. Aerospace & Defense dominated the market in 2023 with market share of 34.3% and is expected to keep its dominance during the forecast period 2024-2033.

The aerospace and defense sectors are major drivers of the high-performance composites market owing to their rigorous demands for thin, strong, and durable materials. High-performance composites have excellent mechanical features, such as high strength-to-weight ratios, durability against corrosion and fatigue, and outstanding thermal and electrical characteristics, making them ideal for use in airplanes, spaceships, weapons, and weapons systems.

These sectors require materials that can survive severe conditions such as high temperatures, rapid acceleration, and harsh environments, all while lowering fuel consumption and enhancing operating efficiency.

Furthermore, continued scientific developments and innovations in composite materials, manufacturing methods, and design methodologies continue to drive the use of high-performance composites in aerospace and defense applications, resulting in market expansion and technological advancement.

Report Scope

Feature of the Report Details
Market Size in 2024 USD 13.9 Billion
Projected Market Size in 2033 USD 35.9 Billion
Market Size in 2023 USD 12.8 Billion
CAGR Growth Rate 10.1% CAGR
Base Year 2023
Forecast Period 2024-2033
Key Segment By Resin Type, Fiber Type, Application and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options Request tailored purchasing options to fulfil your requirements for research.

High Performance Composites Market: Regional Analysis

By region, High Performance Composites market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East & Africa. North America dominated the global High Performance Composites market in 2023 with a market share of 40.8% and is expected to keep its dominance during the forecast period 2024-2033.

North America’s dynamic aerospace and defence industries are creating enormous demand for durable composite materials for aviation and military applications. Furthermore, North America’s automobile industry is rapidly using composites to decrease vehicle weight and increase fuel efficiency, driven by strict fuel economy laws and customer demand for environmentally friendly automobiles.

Additionally, the region’s renewable energy programmes encourage the use of composite materials in wind turbine blades and other solar power plant components. Moreover, an intense focus on innovation, along with a sophisticated research and development environment, promotes the creation of advanced composite materials and production methods in North America, ensuring the region’s position as a worldwide leader in high-performance composites markets.

Global High Performance Composites Market 2024–2033 (By Billion)

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High Performance Composites Market: Recent Developments

  • In March 2024, Hexcel forged a strategic alliance with Arkema. The high-performance thermoplastic composite structure was developed and built with HexPly® thermoplastic tapes. These aerospace-grade materials are based on Arkema’s Kepstan® PEKK resin and Hexcel HexTow® AS7 and IM7 carbon fibres.
  • In April 2022, the Teijin Group created high-performance composite goods. Teijin’s high-performance materials and composites fulfil manufacturing industry needs, enhancing product cycle time and performance, minimising environmental impact, and boosting end-user comfort and safety.
  • In March 2024, Hexcel Corporation introduced a new HexTow® continuous carbon fibre, IM9 24K, to the market, giving a lightweight, robust carbon fibre with increased value for the globe’s most sophisticated aircraft composite applications.

List of the prominent players in the High Performance Composites Market:

  • Hexcel Corporation
  • Teijin Limited
  • Toray Industries Inc.
  • Solvay S.A.
  • Owens Corning
  • SGL Carbon SE
  • Mitsubishi Chemical Holdings Corporation
  • Gurit Holding AG
  • Huntsman Corporation
  • Cytec Industries Inc
  • BASF SE
  • DuPont
  • TPI Composites Inc.
  • Hexion Inc.
  • TenCate Advanced Composites
  • Cristex Composite Materials
  • Zoltek Companies Inc.
  • Park Aerospace Corp.
  • Renegade Materials Corporation
  • Hyosung Advanced Materials
  • Others

These key players are adopting various growth strategies such as mergers & acquisitions, joint ventures, expansion, strategic alliances, new product launches, etc. to enhance their business operations and revenues.

The High Performance Composites Market is segmented as follows:

By Resin Type

  • Thermoset Resins
  • Thermoplastic Resins

By Fiber Type

  • Carbon Fiber Composites
  • S-glass Composites
  • Aramid Fiber Composites
  • Others

By Application

  • Aerospace & Defense
  • Automotive
  • Wind Turbine
  • Pressure Vessel
  • Others

Regional Coverage:

North America

  • U.S.
  • Canada
  • Mexico
  • Rest of North America

Europe

  • Germany
  • France
  • U.K.
  • Russia
  • Italy
  • Spain
  • Netherlands
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • New Zealand
  • Australia
  • South Korea
  • Taiwan
  • Rest of Asia Pacific

The Middle East & Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa

Latin America

  • Brazil
  • Argentina
  • Rest of Latin America

Table of Contents

  • Chapter 1. Preface
    • 1.1 Report Description and Scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market Research Type
      • 1.3.2 Market Research Methodology
  • Chapter 2. Executive Summary
    • 2.1 Global High Performance Composites Market, (2024 – 2033) (USD Billion)
    • 2.2 Global High Performance Composites Market: snapshot
  • Chapter 3. Global High Performance Composites Market – Industry Analysis
    • 3.1 High Performance Composites Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 Surge in Residential Construction Activities
      • 3.2.2 Surge in Residential Construction Activities
      • 3.2.3 Growing demand for sustainable composites solutions
    • 3.3 Market Restraints
    • 3.4 Market Opportunities
    • 3.5 Market Challenges
    • 3.6 Porter’s Five Forces Analysis
    • 3.7 Market Attractiveness Analysis
      • 3.7.1 Market Attractiveness Analysis By Resin Type
      • 3.7.2 Market Attractiveness Analysis By Fiber Type
      • 3.7.3 Market Attractiveness Analysis By Application
  • Chapter 4. Global High Performance Composites Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 Global High Performance Composites Market: Company Market Share, 2023
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. Global High Performance Composites Market – Resin Type Analysis
    • 5.1 Global High Performance Composites Market Overview: By Resin Type
      • 5.1.1 Global High Performance Composites Market Share, By Resin Type, 2023 and 2033
    • 5.2 Thermoset Resins
      • 5.2.1 Global High Performance Composites Market by Thermoset Resins, 2024 – 2033 (USD Billion)
    • 5.3 Thermoplastic Resins
      • 5.3.1 Global High Performance Composites Market by Thermoplastic Resins, 2024 – 2033 (USD Billion)
  • Chapter 6. Global High Performance Composites Market – Fiber Type Analysis
    • 6.1 Global High Performance Composites Market Overview: By Fiber Type
      • 6.1.1 Global High Performance Composites Market Share, By Fiber Type, 2023 and 2033
    • 6.2 Carbon Fiber Composites
      • 6.2.1 Global High Performance Composites Market by Carbon Fiber Composites, 2024 – 2033 (USD Billion)
    • 6.3 S-glass Composites
      • 6.3.1 Global High Performance Composites Market by S-glass Composites, 2024 – 2033 (USD Billion)
    • 6.4 Aramid Fiber Composites
      • 6.4.1 Global High Performance Composites Market by Aramid Fiber Composites, 2024 – 2033 (USD Billion)
    • 6.5 Others
      • 6.5.1 Global High Performance Composites Market by Others, 2024 – 2033 (USD Billion)
  • Chapter 7. Global High Performance Composites Market – Application Analysis
    • 7.1 Global High Performance Composites Market Overview: By Application
      • 7.1.1 Global High Performance Composites Market Share, By Application, 2023 and 2033
    • 7.2 Aerospace & Defense
      • 7.2.1 Global High Performance Composites Market by Aerospace & Defense, 2024 – 2033 (USD Billion)
    • 7.3 Automotive
      • 7.3.1 Global High Performance Composites Market by Automotive, 2024 – 2033 (USD Billion)
    • 7.4 Wind Turbine
      • 7.4.1 Global High Performance Composites Market by Wind Turbine, 2024 – 2033 (USD Billion)
    • 7.5 Pressure Vessel
      • 7.5.1 Global High Performance Composites Market by Pressure Vessel, 2024 – 2033 (USD Billion)
    • 7.6 Others
      • 7.6.1 Global High Performance Composites Market by Others, 2024 – 2033 (USD Billion)
  • Chapter 8. High Performance Composites Market – Regional Analysis
    • 8.1 Global High Performance Composites Market Regional Overview
    • 8.2 Global High Performance Composites Market Share, by Region, 2023 & 2033 (USD Billion)
    • 8.3. North America
      • 8.3.1 North America High Performance Composites Market, 2024 – 2033 (USD Billion)
        • 8.3.1.1 North America High Performance Composites Market, by Country, 2024 – 2033 (USD Billion)
    • 8.4 North America High Performance Composites Market, by Resin Type, 2024 – 2033
      • 8.4.1 North America High Performance Composites Market, by Resin Type, 2024 – 2033 (USD Billion)
    • 8.5 North America High Performance Composites Market, by Fiber Type, 2024 – 2033
      • 8.5.1 North America High Performance Composites Market, by Fiber Type, 2024 – 2033 (USD Billion)
    • 8.6 North America High Performance Composites Market, by Application, 2024 – 2033
      • 8.6.1 North America High Performance Composites Market, by Application, 2024 – 2033 (USD Billion)
    • 8.7. Europe
      • 8.7.1 Europe High Performance Composites Market, 2024 – 2033 (USD Billion)
        • 8.7.1.1 Europe High Performance Composites Market, by Country, 2024 – 2033 (USD Billion)
    • 8.8 Europe High Performance Composites Market, by Resin Type, 2024 – 2033
      • 8.8.1 Europe High Performance Composites Market, by Resin Type, 2024 – 2033 (USD Billion)
    • 8.9 Europe High Performance Composites Market, by Fiber Type, 2024 – 2033
      • 8.9.1 Europe High Performance Composites Market, by Fiber Type, 2024 – 2033 (USD Billion)
    • 8.10 Europe High Performance Composites Market, by Application, 2024 – 2033
      • 8.10.1 Europe High Performance Composites Market, by Application, 2024 – 2033 (USD Billion)
    • 8.11. Asia Pacific
      • 8.11.1 Asia Pacific High Performance Composites Market, 2024 – 2033 (USD Billion)
        • 8.11.1.1 Asia Pacific High Performance Composites Market, by Country, 2024 – 2033 (USD Billion)
    • 8.12 Asia Pacific High Performance Composites Market, by Resin Type, 2024 – 2033
      • 8.12.1 Asia Pacific High Performance Composites Market, by Resin Type, 2024 – 2033 (USD Billion)
    • 8.13 Asia Pacific High Performance Composites Market, by Fiber Type, 2024 – 2033
      • 8.13.1 Asia Pacific High Performance Composites Market, by Fiber Type, 2024 – 2033 (USD Billion)
    • 8.14 Asia Pacific High Performance Composites Market, by Application, 2024 – 2033
      • 8.14.1 Asia Pacific High Performance Composites Market, by Application, 2024 – 2033 (USD Billion)
    • 8.15. Latin America
      • 8.15.1 Latin America High Performance Composites Market, 2024 – 2033 (USD Billion)
        • 8.15.1.1 Latin America High Performance Composites Market, by Country, 2024 – 2033 (USD Billion)
    • 8.16 Latin America High Performance Composites Market, by Resin Type, 2024 – 2033
      • 8.16.1 Latin America High Performance Composites Market, by Resin Type, 2024 – 2033 (USD Billion)
    • 8.17 Latin America High Performance Composites Market, by Fiber Type, 2024 – 2033
      • 8.17.1 Latin America High Performance Composites Market, by Fiber Type, 2024 – 2033 (USD Billion)
    • 8.18 Latin America High Performance Composites Market, by Application, 2024 – 2033
      • 8.18.1 Latin America High Performance Composites Market, by Application, 2024 – 2033 (USD Billion)
    • 8.19. The Middle-East and Africa
      • 8.19.1 The Middle-East and Africa High Performance Composites Market, 2024 – 2033 (USD Billion)
        • 8.19.1.1 The Middle-East and Africa High Performance Composites Market, by Country, 2024 – 2033 (USD Billion)
    • 8.20 The Middle-East and Africa High Performance Composites Market, by Resin Type, 2024 – 2033
      • 8.20.1 The Middle-East and Africa High Performance Composites Market, by Resin Type, 2024 – 2033 (USD Billion)
    • 8.21 The Middle-East and Africa High Performance Composites Market, by Fiber Type, 2024 – 2033
      • 8.21.1 The Middle-East and Africa High Performance Composites Market, by Fiber Type, 2024 – 2033 (USD Billion)
    • 8.22 The Middle-East and Africa High Performance Composites Market, by Application, 2024 – 2033
      • 8.22.1 The Middle-East and Africa High Performance Composites Market, by Application, 2024 – 2033 (USD Billion)
  • Chapter 9. Company Profiles
    • 9.1 Hexcel Corporation
      • 9.1.1 Overview
      • 9.1.2 Financials
      • 9.1.3 Product Portfolio
      • 9.1.4 Business Strategy
      • 9.1.5 Recent Developments
    • 9.2 Teijin Limited
      • 9.2.1 Overview
      • 9.2.2 Financials
      • 9.2.3 Product Portfolio
      • 9.2.4 Business Strategy
      • 9.2.5 Recent Developments
    • 9.3 Toray Industries Inc.
      • 9.3.1 Overview
      • 9.3.2 Financials
      • 9.3.3 Product Portfolio
      • 9.3.4 Business Strategy
      • 9.3.5 Recent Developments
    • 9.4 Solvay S.A.
      • 9.4.1 Overview
      • 9.4.2 Financials
      • 9.4.3 Product Portfolio
      • 9.4.4 Business Strategy
      • 9.4.5 Recent Developments
    • 9.5 Owens Corning
      • 9.5.1 Overview
      • 9.5.2 Financials
      • 9.5.3 Product Portfolio
      • 9.5.4 Business Strategy
      • 9.5.5 Recent Developments
    • 9.6 SGL Carbon SE
      • 9.6.1 Overview
      • 9.6.2 Financials
      • 9.6.3 Product Portfolio
      • 9.6.4 Business Strategy
      • 9.6.5 Recent Developments
    • 9.7 Mitsubishi Chemical Holdings Corporation
      • 9.7.1 Overview
      • 9.7.2 Financials
      • 9.7.3 Product Portfolio
      • 9.7.4 Business Strategy
      • 9.7.5 Recent Developments
    • 9.8 Gurit Holding AG
      • 9.8.1 Overview
      • 9.8.2 Financials
      • 9.8.3 Product Portfolio
      • 9.8.4 Business Strategy
      • 9.8.5 Recent Developments
    • 9.9 Huntsman Corporation
      • 9.9.1 Overview
      • 9.9.2 Financials
      • 9.9.3 Product Portfolio
      • 9.9.4 Business Strategy
      • 9.9.5 Recent Developments
    • 9.10 Cytec Industries Inc
      • 9.10.1 Overview
      • 9.10.2 Financials
      • 9.10.3 Product Portfolio
      • 9.10.4 Business Strategy
      • 9.10.5 Recent Developments
    • 9.11 BASF SE
      • 9.11.1 Overview
      • 9.11.2 Financials
      • 9.11.3 Product Portfolio
      • 9.11.4 Business Strategy
      • 9.11.5 Recent Developments
    • 9.12 DuPont
      • 9.12.1 Overview
      • 9.12.2 Financials
      • 9.12.3 Product Portfolio
      • 9.12.4 Business Strategy
      • 9.12.5 Recent Developments
    • 9.13 TPI Composites Inc.
      • 9.13.1 Overview
      • 9.13.2 Financials
      • 9.13.3 Product Portfolio
      • 9.13.4 Business Strategy
      • 9.13.5 Recent Developments
    • 9.14 Hexion Inc.
      • 9.14.1 Overview
      • 9.14.2 Financials
      • 9.14.3 Product Portfolio
      • 9.14.4 Business Strategy
      • 9.14.5 Recent Developments
    • 9.15 TenCate Advanced Composites
      • 9.15.1 Overview
      • 9.15.2 Financials
      • 9.15.3 Product Portfolio
      • 9.15.4 Business Strategy
      • 9.15.5 Recent Developments
    • 9.16 Cristex Composite Materials
      • 9.16.1 Overview
      • 9.16.2 Financials
      • 9.16.3 Product Portfolio
      • 9.16.4 Business Strategy
      • 9.16.5 Recent Developments
    • 9.17 Zoltek Companies Inc.
      • 9.17.1 Overview
      • 9.17.2 Financials
      • 9.17.3 Product Portfolio
      • 9.17.4 Business Strategy
      • 9.17.5 Recent Developments
    • 9.18 Park Aerospace Corp.
      • 9.18.1 Overview
      • 9.18.2 Financials
      • 9.18.3 Product Portfolio
      • 9.18.4 Business Strategy
      • 9.18.5 Recent Developments
    • 9.19 Renegade Materials Corporation
      • 9.19.1 Overview
      • 9.19.2 Financials
      • 9.19.3 Product Portfolio
      • 9.19.4 Business Strategy
      • 9.19.5 Recent Developments
    • 9.20 Hyosung Advanced Materials
      • 9.20.1 Overview
      • 9.20.2 Financials
      • 9.20.3 Product Portfolio
      • 9.20.4 Business Strategy
      • 9.20.5 Recent Developments
    • 9.21 Others.
      • 9.21.1 Overview
      • 9.21.2 Financials
      • 9.21.3 Product Portfolio
      • 9.21.4 Business Strategy
      • 9.21.5 Recent Developments
List Of Figures

Figures No 1 to 27

List Of Tables

Tables No 1 to 77

Report Methodology

In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:

Preliminary Data Mining

On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.

Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.

Statistical Model

Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.

Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.

Some of the variables taken into account for forecasting are as follows:

• Industry drivers and constraints, as well as their current and projected impact

• The raw material case, as well as supply-versus-price trends

• Current volume and projected volume growth through 2033

We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.

Primary Validation

This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.

Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.

All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:

• Market leaders

• Suppliers of raw materials

• Suppliers of raw materials

• Buyers.

The following are the primary research objectives:

• To ensure the accuracy and acceptability of our data.

• Gaining an understanding of the current market and future projections.

Data Collection Matrix

Perspective Primary research Secondary research
Supply-side
  • Manufacturers
  • Technology distributors and wholesalers
  • Company reports and publications
  • Government publications
  • Independent investigations
  • Economic and demographic data
Demand-side
  • End-user surveys
  • Consumer surveys
  • Mystery shopping
  • Case studies
  • Reference customers


Market Analysis Matrix

Qualitative analysis Quantitative analysis
  • Industry landscape and trends
  • Market dynamics and key issues
  • Technology landscape
  • Market opportunities
  • Porter’s analysis and PESTEL analysis
  • Competitive landscape and component benchmarking
  • Policy and regulatory scenario
  • Market revenue estimates and forecast up to 2033
  • Market revenue estimates and forecasts up to 2033, by technology
  • Market revenue estimates and forecasts up to 2033, by application
  • Market revenue estimates and forecasts up to 2033, by type
  • Market revenue estimates and forecasts up to 2033, by component
  • Regional market revenue forecasts, by technology
  • Regional market revenue forecasts, by application
  • Regional market revenue forecasts, by type
  • Regional market revenue forecasts, by component

Prominent Player

  • Hexcel Corporation
  • Teijin Limited
  • Toray Industries Inc.
  • Solvay S.A.
  • Owens Corning
  • SGL Carbon SE
  • Mitsubishi Chemical Holdings Corporation
  • Gurit Holding AG
  • Huntsman Corporation
  • Cytec Industries Inc
  • BASF SE
  • DuPont
  • TPI Composites Inc.
  • Hexion Inc.
  • TenCate Advanced Composites
  • Cristex Composite Materials
  • Zoltek Companies Inc.
  • Park Aerospace Corp.
  • Renegade Materials Corporation
  • Hyosung Advanced Materials
  • Others

FAQs

The major driver for the High Performance Composites market is surge in residential construction activities and growing demand for sustainable composites solutions.

The “Aerospace & Defense” had the largest share in the global market for High Performance Composites.

The “Thermoset Resins” category dominated the market in 2023.

The key players in the market are Hexcel Corporation, Teijin Limited, Toray Industries Inc., Solvay S.A., Owens Corning, SGL Carbon SE, Mitsubishi Chemical Holdings Corporation, Gurit Holding AG, Huntsman Corporation, Cytec Industries Inc, BASF SE, DuPont , TPI Composites Inc., Hexion Inc., TenCate Advanced Composites, Cristex Composite Materials, Zoltek Companies Inc. , Park Aerospace Corp., Renegade Materials Corporation, Hyosung Advanced Materials, Others.

“North America” had the largest share in the High Performance Composites Market.

The global market is projected to grow at a CAGR of 10.1% during the forecast period, 2024-2033.

The High Performance Composites Market size was valued at USD 13.9 Billion in 2024.

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