High-performance Composites Market SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)
High-performance Composites Market is segmented By Material (Resins, Fiber), By Application (Aerospace, Energy, Automotive and Industrial, Consumer Go....
High-performance Composites Market Size
Market Size in USD
CAGR11.5%
| Study Period | 2024 - 2031 |
| Base Year of Estimation | 2023 |
| CAGR | 11.5% |
| Market Concentration | High |
| Major Players | BASF SE, Arkema, Hexcel Corporation, Solvay, TenCate Protective Fabrics |
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High-performance Composites Market Analysis
The Global High-performance Composites Market is estimated to be valued at USD 66.5 Bn in 2024 and is expected to reach USD 159.3 Bn by 2031, growing at a compound annual growth rate (CAGR) of 11.5% from 2024 to 2031. The market is driven by increasing demands from various end-use industries such as aerospace, defense, automotive, and wind energy.
The high-performance composites market is expected to witness significant growth over the forecast period. The aerospace and defense industries will continue adopting high-performance composites to manufacture lightweight and fuel-efficient aircraft and vehicles. Moreover, the rising installation of wind turbines equipped with composite blades will also support the market expansion. The lightweight and durable properties of composites make them preferable over metal alloys in structural applications.