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March 27, 2020, 9:45 a.m. EDT

High Performance Composites Market Size is Projected to Reach $42.18 Billion by 2026 | CAGR 7.3%

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Mar 27, 2020 (Market News Bizz via Comtex) -- High Performance Composites Market [By Resin Type – High Performance Thermoplastic Composites – (Polyether Ether Keton, Polyphenylene Sulfide), High Performance Thermoset Composites - (Polyester, Epoxy, Phenolics, Cyanate Esters); By Fiber Type (Aramid Fiber Composites, Carbon Fiber Composites, S-Glass Composites and Others); By Application Type (Automotive, Defence & Aerospace, Construction, Medical and Others); By Regions]: Market Size & Forecast, 2018 - 2026

The Global High-Performance Composites Market is expected to grow at a CAGR of 7.3% during the forecast period 2018-2026. As per the analysis, the global market was analysed to reach $42.18 billion by the end of the year 2026.

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Polymer materials or products consist of advanced fibres materials that is expected to witness high growth owing to wide range of applications in various industries over the forecast period. High growth of the commercial aircraft manufacturing sector will support the growth in demand of polymer materials. Additionally, application of these polymer materials in manufacturing of wind turbines and pressure vessels is offering potential factor for the market growth over the forecast period. However, the high production cost of polymer materials and high labor intensive cost are some major restraining factor that is expected to impact the demand of high-performance composites.

The global aerospace industry is the majorly developed application segments of the global market. The aerospace industry is witnessing major application of high-performance composites due to innovative mechanical properties, cost-effectiveness, versatility of the composite materials.

Segmentation Overview of the GlobalHigh Performance Composites Market

The Product Type Segment of the Global High Performance Composites Market is Sub-Segmented into:

  • High Performance Thermoplastic Composites

  • Polyether Ether Keton

  • Polyphenylene Sulphide

  • High Performance Thermoset Composites

  • Epoxy

  • Polyester

  • Phenolics

  • Cyanate Esters

The Fibre Type Segment of the Global High Performance Composites Market is Sub-Segmented into:

  • Aramid Fibre Composites

  • Carbon Fibre Composites

  • S-Glass Composites

  • Others

The Application Type Segment of the Global High Performance Composites Market is Sub-Segmented into:

  • Automotive

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