The High-performance Composites Market Size was valued at USD 10.11 Billion in 2022. The High-performance Composites industry is projected to grow from USD 12.4 Billion in 2023 to USD 48.21 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 10.11% during the forecast period (2023 - 2030). The demand for high-performance composites in various applications is being driven by the increased demand for lightweight and high-strength materials. 
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
High-performance composites are constructed from high-performance fibers such as carbon, glass, aramid, quartz, ultrahigh-molecular-weight polyethylene (UHWPE), ceramic, boron, and new fiber such as poly(p-phenylene benzothiazole) (PBO) fibers. These materials usually have tensile strength, and high thermal conductivity and are lightweight, and are widely used in applications such as automotive, wind turbines, medical, construction, aerospace, and defense. The factors such as the growing demand for glass and carbon fiber reinforced plastics in airbus aircraft and increasing usage of high-performance composites in wind turbine blades are the root causes fueling up the high-performance composites market growth rate.
Additionally, the Growth in the automobile industry and increasing sales of aircraft impact the growth rate of the high-performance composites market. However, the high raw material costs and fabrication and assembly costs derail the growth of the high-performance composites market. Rising awareness about the advantages of high-performance composites as compared to their substitutes generates various opportunities for the market. COVID-19 has hampered the supply chain across the globe, which poses a challenge to the market’s growth.
Hexcel forged a strategic alliance with Arkema in March 2024. HexPly® thermoplastic tapes were used to develop and build the high-performance thermoplastic composite structure. These aerospace-grade materials are based on Arkema’s Kepstan® PEKK resin and Hexcel HexTow® AS7 and IM7 carbon fibers.
In March 2024, there was the introduction of a new HexTow®, continuous carbon fiber, IM9 24K, by Hexcel Corporation in the market for lightweight, robust carbon fibers with increased value for the world’s most sophisticated aircraft composite applications.
The High-performance Composites Market segmentation, based on Material, includes Resins and Fibers. The most widely used polymers in composites are thermosets, which are a form of plastic resin that becomes considerably infusible and insoluble when hardened by heat and chemicals. After it has been cured, a thermoset cannot be restored to its uncured state. Even though almost all thermosets currently in use are made from petroleum feedstocks. Glass Fibers account for the great majority of composite Fibers. Glass Fibers are the most popular and oldest type of reinforcement utilized to replace heavier metal parts in end-market applications. Glass Fiber is heavier and less stiff than carbon Fiber, the second most often used reinforcement, but it is more impact-resistant and has a higher elongation-to-break.
Based on Application, the High-performance Composites Market segmentation includes Aerospace, Automotive & Industrial, Energy, Consumer Goods, Defense, Electronics, Construction, and Others. Aerospace engineering is the primary branch of engineering concerned with the construction of aircraft and spacecraft. Aeronautical engineering and astronautical engineering are two fields that overlap significantly. Aeronautical engineering is similar to avionics engineering, although avionics engineering concentrates on the electronics side of things. The Automotive or Automobile designer is the person who conceptualizes the exterior and interior design of a vehicle. This individual is typically an industrial and design engineer who ensures that their designs are both functional and attractive.
Figure 2: High-performance Composites Market, by Material, 2023 & 2030 (USD Billion) 
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. North America accounted for the largest share of this market owing to the trend of new automotive materials introduced in the region to decrease vehicles crash, noise, and costs as well as to increase vehicle fuel efficiency. New manufacturing techniques coupled with extensive research and development activities in the US is propelling market demand.
Figure 3: HIGH-PERFORMANCE COMPOSITES MARKET SHARE BY REGION 2023 (%) 
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Asia-Pacific is projected to be the fastest-growing region in the High-performance Composites Market during the review period. Surging high-performance composites demand in the aerospace and consumer goods applications is the expected driver of market growth. Automotive is an emerging industry in China and India and the increasing application of light-weight high-performance composites in the automotive industry is a key factor driving Asia-Pacific market growth.
Major market players are spending a lot of money on R&D to increase their product lines, which will help the High-performance Composites market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the High-performance Composites industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
The major market players are investing a lot of money in R&D to expand their product lines, which will spur further market growth for High-performance Composites. With significant market development like new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their global presence. To grow and thrive in a market climate that is becoming more competitive and growing, competitors in the High-performance Composites industry must offer affordable products.
Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the global High-performance Composites industry to benefit customers and expand the market sector. The High-performance Composites market has recently given medicine some of the most important advantages. Major High-performance Composites market players, including epoxy, cyanate ester, phenolics, polyphenylene sulfide, and others, are attempting to increase market demand by funding R&D initiatives.
Epoxy builds multi-platform publishing software for the new generation of digital native video creators and media networks. Epoxy’s web and mobile apps provide one professional, streamlined dashboard for creators to prepare assets, distribute content, respond to their audience at scale, and understand insights across platforms including YouTube, Facebook, Twitter, Instagram, and Vine.
Also, Deepak Phenolics is a manufacturer of chemical products. It offers phenol and acetone products such as Caprolactam, Cyclohexanone, Polycarbonate, Diacetone Alcohol, Methyl Isobutyl and Methacrylate, and Isophorone.
In February 2023- Isoco Bikes (Saalfeld, Germany) and V Frames (Schmiedefeld) signed an exclusivity agreement with Lehvoss Group (Hamburg), which introduced high-performance fiber-reinforced compounds, including long carbon fiber as well as biopolymer carbon fiber composites into bike frame and component production.
January 2023- The Enduredge NTC-425 cyanate ester system is Nexx Technologies' latest high-performance product. This low-cost, innovative prepreg resin system is said to be unique within the composites industry due to its vertical integration and shop temperature out-time of 90-100 days (75oF).
Teijin Group created high-performance composite goods in April 2022. They ensure that Teijin’s high-performance materials and composites satisfy manufacturing industry needs thereby reducing product cycle time and enhancing performance while minimizing environmental impact so that the end users enjoy more comfort & safety.
A printing process using semiconductor circuits produced on flexible sheets by using high-performance semi-conductive carbon nanotube composites has been developed by Toray Industries, Inc. in January 2022.
High-performance Composites Material Outlook
High-performance Composites Application Outlook
High-performance Composites Regional Outlook
North America
Europe
Asia-Pacific
Rest of the World
Middle East
Africa
Latin America
| Report Attribute/Metric | Details |
| Market Size 2022 | USD Â 10.11 Billion |
| Market Size 2023 | USD 12.4 Billion |
| Market Size 2030 | USD 48.21 Billion |
| Compound Annual Growth Rate (CAGR) | 10.11% (2023-2030) |
| Base Year | 2023 |
| Market Forecast Period | 2023-2030 |
| Historical Data | 2018 & 2020 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Material, Application, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | BASF SE (Germany), SABIC (Saudi Arabia), Solvay (Belgium), Owens Corning (US), TPI Composites (US), Huntsman International LLC (US), TEIJIN LIMITED (Japan), SGL Group (Germany), Hexcel Corporation (US), Albany International Corporation (US), TORAY INDUSTRIES, INC. (Japan), Arkema (France), 3M (US), ARGOSY INTERNATIONAL (US) and Northrop Grumman Corporation (US). |
| Key Market Opportunities | Demand will be fueled by tremendous growth in the commercial airliner market. Emerging opportunities in applications such as wind turbines and pressure vessels. |
| Key Market Dynamics | Demand for lightweight composites in the automotive and aerospace industries is boosting the market growth. |
High-performance Composites Market Highlights:
Frequently Asked Questions (FAQ) :
The High-performance Composites Market size was valued at USD 10.11 Billion in 2022.
The global market is projected to grow at a CAGR of 10.11% during the forecast period, 2023-2030.
North America had the largest share of the High-performance Composites Market.
The key players in the market are BASF SE (Germany), SABIC (Saudi Arabia), Solvay (Belgium), Owens Corning (US), TPI Composites (US), Huntsman International LLC (US), TEIJIN LIMITED (Japan), SGL Group (Germany), Hexcel Corporation (US), Albany International Corporation (US), TORAY INDUSTRIES, INC. (Japan), Arkema (France), 3M (US), ARGOSY INTERNATIONAL (US) and Northrop Grumman Corporation (US).
The Resins categories dominated the market in 2023.
Aerospace engineering had the largest share in the global market for High-performance Composites.
Leading companies partner with us for data-driven Insights.
Kindly complete the form below to receive a free sample of this Report
Senior Research Analyst With an experience of over five years in market research industry (chemicals & materials domain), i gather and analyze market data from diverse sources to produce results, which are then presented back to a client. also, provide recommendations based on the findings. as a senior research analyst, i perform quality checks (qc) for market estimations, qc for reports, and handle queries and work extensively on client customizations. also, handle the responsibilities of client proposals, report planning, report finalization, and execution
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
