High-Temperature Composite Materials Market to See 8.41% CAGR through 2021, Forecasts M&M in Its Report Published at MarketPublishers.com02 Aug 2016 • by Natalie Aster
LONDON – By value, the market for high-temperature composite materials is anticipated to register an 8.41% CAGR to 2021, increasing from USD 3.36 billion in 2015 to be estimated at USD 5.01 billion by the end of the forecast period. The growth is being driven by elevated demand for the product from the aerospace & defense, transportation, and energy & power industries, thanks to the regulatory standards, capability of withstanding high temperatures and stress without breaking, high performance and strength.
Ceramic matrix composites grab the dominant share of the overall market thanks to the excessive demand from the aerospace & defense sector. Their outstanding properties like reduced nitride oxide (N2O) emissions, less weight and fuel consumption, reduced level of noise, and capability of withstanding extremely high temperatures are propelling their widespread use in the aerospace & defense domain. Additionally, the consumption of ceramic matrix composite materials will likely escalate owing to a hike in the demand from the petrochemical industry and nuclear reactors.
North America captures the biggest slice of the total high-temperature composite materials pie, on account of a surge in the demand from the aerospace & defense domain and regulatory standards demanding the use of environmentally-green materials. In tandem with the actual capacities, a number of high-temperature composite makers, like US-based Boeing Research & Technology and GE aviation are expanding their manufacturing capacities for high-temperature oxide and/or oxide ceramic matrix composites. The region’s demand for high-temperature composite materials will likely incessantly increase in the years immediately ahead owing to superior performance, lower levels of pollution, and emergence of novel production techniques. This is further anticipated to boost the output volumes and cut the cost of these materials.
In-demand research report “High-Temperature Composite Materials Market” developed by M&M presents a deep assessment of the market worldwide, categorising it based on temperature range, matrix system, application, and by region. The research study provides the closest estimates of the revenues for the total market and the sub-segments across various verticals and regions. It sheds light on the key market growth driving factors and restraints, key challenges, and opportunities. The report contains an all-round analysis of the competitive scenario and gives true insights into the key competitors’ position in the business, novel product launches, JVs and agreements, acquisitions, and expansions.
More comprehensive studies by our partner can be found at M&M page.