High-Temperature Composite Materials Market Worth 5.01 Billion USD by 2021
PUNE, India, July 21, 2016 /PRNewswire/ --
The report "High-Temperature Composite Materials Market by Temperature Range (High and Ultra-High), Matrix System (PMC, CMC and MMC Materials), Application (Aerospace & Defense, Transportation, Energy & Power, E&E and Others) and by Region - Global Forecasts to 2021", published by MarketsandMarkets, In terms of value, the market size was USD 3.36 Billion in 2015 and is projected to reach USD 5.01 Billion by 2021, registering a CAGR of 8.41% between 2016 and 2021.
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Browse 70 market data Tables and 50 Figures spread through 137 Pages and in-depth TOC on "High-Temperature Composite Materials Market"
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This growth is attributed to the high demand for high-temperature composite materials in the aerospace & defense and transportation industries, driven by the regulatory norms, ability to withstand elevated temperatures and stress without cracking, high strength, and superior performance.
Matrix System: Ceramic matrix composite materials comprise major share of the high-temperature composite materials market
Ceramic matrix composite materials have the highest market share of the High-Temperature Composite Materials Market due to large demand from the aerospace & defense industry. High-temperature ceramic is used in cylinder sleeves in engines, piston-recess walls bearings, and brake disks. Their properties such as reduced nitride oxide emission, less weigh & fuel burn, reduced noise, and ability to withstand very high temperatures are driving their growth in the aerospace & defense industry. Besides this, the consumption of ceramic matrix composite materials is also predicted to increase due to growing demand from nuclear fusion & fission reactors and petrochemical applications.
Polymer matrix based high-temperature composite materials are in high demand in the transportation industry
The demand for high-temperature polymer matrix composite materials in the transportation industry for weight reduction and fire, smoke & toxicity (FST) compliance is growing in the modern light and passenger rails. Further, health, safety, and environmental regulations regarding toxic smoke emission standards, specifically, in North America and Europe, are the major factors driving the demand of FST complaint high-temperature thermoset and thermoplastic composite materials in the transportation industry.
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North America accounts for a major share of the high-temperature composite materials market
North America accounts for the largest market of high-temperature composite materials, globally, due to the high demand from the aerospace & defense industry and regulatory norms requiring the use of eco-friendly materials. Along with the existing capacities, several high-temperature composite manufacturers, such as GE aviation (U.S.) and Boeing Research & Technology (U.S.), are expanding their production capacities for high-temperature oxide/oxide ceramic matrix composite materials. The demand for high-temperature composite materials in North America is projected to continuously increase in the near future because of significant performance, less pollution, and advent of new manufacturing techniques. This is further expected to increase the production volumes and decrease the cost of high-temperature composite materials.
Some of the key global players prevailing in the high-temperature composite material market are Kyocera Chemical Corporation (Japan), Royal Tencate N.V. (Netherlands), Renegade Materials Corporation (U.S.), Lonza Group (U.S.), and Ube Industries Ltd. (Japan) among others. These players have adopted various organic and inorganic developmental strategies during the forecast period. For instance, Royal Tencate N.V. and Performance Polymer Solutions (U.S.) entered into an agreement to develop and market high-temperature polymer prepreg materials for F-35 Joint Strike Fighter program.
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