Composites are non-magnetic, non-conductive, and radar transparent in nature. Their properties are completely different from fibers and resins. They exhibit excellent mechanical properties, along with high corrosion resistance, superior design flexibility, low thermal conductivity, improved dimensional stability, high durability, and high impact strength.
Thermosets to Represent Large Share through 2025
Composites are a combination of fibers and resins. Demand for resins is higher among composite manufacturers. Thermosets and thermoplastics are two types of resins. Thermosets are most widely used for the manufacturing of high performance composites. Some of the commonly used thermosetting resins are polyester, epoxy, phenolic, and vinyl ester. These resins are used to hold the structural fiber in place, firmly.
On the other hand, demand for thermoplastic resinsis expected to witness a sharp rise through 2025. Absence of crosslinking bonds in thermoplastics offer the flexibility of remelting and reforming, which will contribute to their demand. Besides this, these resins offer smooth surface finish, high impact strength, and long shelf life. They are easy to mold and recycle, which is increasing their preference across various industries. As a result, composite manufacturers are allocating significant budgets to research and development activities related to thermoplastics. For instance, in November 2017, Victrex invested about USD 13 million in a polymer innovation center to boost its ongoing R&D activities for VICTREX PEEK polymer and other materials within the PAEK family of high-performance thermoplastic resins.
Market Insights
As per the findings of Grand View Research, Inc.; the global high performance composites market is projected to rise to a valuation of USD 81.63 billion by the end of 2025. The aerospace and defense sectors are among the key end users of high performance composites. Therefore, rapid expansion in these sectors is likely to provide a fillip to the market. Increasing utilization of these composites as an alternative to traditional materials such as aluminum and steel in the automotive industry can stoke the growth of the market.
Asia Pacific is expected to dominate throughout the forecast period (2014 to 2025). Flourishing end-use industries, including electronics and automotive, is anticipated to contribute to the growth of the region. Some of the prominent companies operating in the market are BASF, Arkema, Solvay, DuPont, and Owen Corning Corporation.
In-Depth Research Report On High Performance Composites Market:
https://www.grandviewresearch.com/industry-analysis/global-high-performance-composites-market
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