The report "High Performance Composites Market by Resin Type (Thermoset, Thermoplastic), Fiber Type (Carbon Fiber, S-Glass, Aramid Fiber) Application (Aerospace & Defense, Automotive, Pressure Vessel, Wind Turbine, Medical), Region - Global Forecast to 2022",

The high-performance composites market was valued at USD 23.50 Billion in 2016 and is projected to reach USD 33.33 Billion by 2022, at a CAGR of 6.0% from 2017 to 2022. The growth of the high-performance composites market is driven by the increased demand for high performance composites for the aerospace & defense, automotive, wind turbines, pressure vessels, medical, and construction applications.

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High performance composites are manufactured by using a polymer resin with fibers for reinforcements. These composites are being increasingly used in the automotive, aerospace & defense, pressure vessels, wind turbines, medical, and construction applications, owing to their lightweight and features offered by them, which include high strength, increased corrosion resistance, high impact strength, excellent design flexibility, enhanced dimensional stability, low thermal conductivity, and high durability. Moreover, high performance composites are non-conductive, non-magnetic, and radar transparent.

The thermoplastic resin type segment of the high-performance composites market is projected to grow at the highest CAGR during the forecast period. The growth of this segment of the market can be attributed to increased use of high performance thermoplastic composites in various industries, owing to the flexibility of remelting and reforming offered by them due to the absence of crosslinking in thermoplastic resins.

These composites offer high impact strength and smooth surface finish. They can be molded easily on reheating. The high performance thermoplastic composites are preferred over high performance thermosetting composites as they offer longer shelf-life, have faster manufacturing cycle, and are easier to recycle.

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The S-glass fiber type segment of the high performance composites market is projected to grow at the highest CAGR during the forecast period. The growth of this segment can be attributed to increased use of S-glass high performance composites in military aircraft for fuselage skins, floor panels, and fire walls, owing to the capability of these composites to withstand the impact of force.

Moreover, these composites have low flammability and high resistance to corrosion. S-glass high performance composites are lightweight and offer high strength and increased fatigue resistance. They are used for manufacturing blades of helicopters. As S-glass high performance composites have high strength, increased flexibility, and enhanced dimensional stability, they are increasingly used as robotic arms on space shuttles.
Toray Industries Inc. (Japan), Hexcel Corporation (US), Solvay S.A. (Belgium), SGL Group-The Carbon Company (Germany), Koninklijke TenCate NV (Netherlands), TPI Composites (US), Owens Corning Corporation (US), Teijin Limited (Japan), and BASF SE (Germany) are the key players operating in the high performance composites market.

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