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Global High-Temperature Composite Materials Market to Reach $6 Billion by 2026

Global High-Temperature Composite Materials Market to Reach $6 Billion by 2026

A High-Temperature Composite new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled “High-Temperature Composite Materials – Global Market Trajectory & Analytics”.

The High-Temperature Composite presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace. FACTS AT A GLANCEEdition: 7; Released: January 2021Executive Engagements: 3413Companies: 57 – Players covered include BASF SE; Henkel AG & Co. KGaA; Hexion Inc.; Kyocera Unimerco A/S; Nippon Carbon Co., Ltd.; Renegade Materials Corporation; Schweiter Technologies AG; SGL Carbon SE; Solvay S.A.; Toray Advanced Composites; Ube Industries, Ltd. and Others.Coverage: All major geographies and key segmentsSegments: Matrix System (CMC, MMC, PMC); Application (Aerospace & Defense, Transportation, Energy & Power, Electronics & Electrical, Other Applications)Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Rest of Europe; Asia-Pacific; Rest of World.Complimentary Project Preview – This is an ongoing global program. Preview our research program before you make a purchase decision. We are offering a complimentary access to qualified executives driving strategy, business development, sales & marketing, and product management roles at featured companies. Previews provide deep insider access to business trends; competitive brands; domain expert profiles; and market data templates and much more. You may also build your own bespoke report using our MarketGlass™ Platform which offers thousands of data bytes without an obligation to purchase our report.Global High-Temperature Composite Materials Market to Reach $6 Billion by 2026High-temperature ceramic materials are experiencing increasing demand from applications in the space exploration, manufacturing, defense, electronics, transport, telecommunications and medicine industries. High-temperature ceramics are engineered for highly specialized applications, and represent compounds like metal carbides, nitrides and oxides. For instance, lithium-silicon oxide is perfect material for ensuring high level of heat protection to space rocket’s nose cone. Majority of high-temperature ceramic-based superconductor components are made using copper, oxygen, barium, and yttrium crystals. Some of these materials are further reinforced with various options like fiber for creating ceramic matrix composites such as silicon carbide matrix with boron nitride as the interface. These materials are appropriate for applications like sophisticated gas turbine jet engines and other high-temperature areas. Based on a blend of carbon and silicon, silicon carbide powder can be used for creating a robust ceramic known as silicon carbide that is capable of surviving extreme temperature environments.Amid the COVID-19 crisis, the global market for High-Temperature Composite Materials estimated at US$4.1 Billion in the year 2020, is projected to reach a revised size of US$6 Billion by 2026, growing at a CAGR of 6.8% over the analysis period. CMC, one of the segments analyzed in the report, is projected to grow at a 7.2% CAGR to reach US$3.1 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the MMC segment is readjusted to a revised 6.7% CAGR for the next 7-year period. This segment currently accounts for a 30.7% share of the global High-Temperature Composite Materials market.The U.S. Market is Estimated at $1.3 Billion in 2021, While China is Forecast to Reach $591.6 Million by 2026The High-Temperature Composite Materials market in the U.S. is estimated at US$1.3 Billion in the year 2021. The country currently accounts for a 31.21% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$591.6 Million in the year 2026 trailing a CAGR of 8.7% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.9% and 6.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 6.3% CAGR while Rest of European market (as defined in the study) will reach US$642.5 Million by the end of the analysis period.Lightweighting in aerospace components and systems is poised to drive growth in the market. At present, research continues for development of newer and improved composite and metallic materials for achieving ever greater performance feats including greater strength, lighter weight, or better corrosion resistance and heat resistance. Success of many of the research studies implies that manufacturers can now use materials that were previously considered too difficult or impractical to machine. Adoption of newer materials is happening more quickly in the aerospace industry. Also, going forward, one-piece designs would continue to increase, reducing the number of separate components in the overall assembly. It would pave way for increased use of composite materials in the aerospace industry. Technological developments are also anticipated in the area of machining metallic parts. Already, a growing number of metal components are being conditioned within forgings for obtaining near-net shape, thus reducing machining required.PMC Segment to Reach $1.3 Billion by 2026In the global PMC segment, USA, Canada, Japan, China and Europe will drive the 6.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$761.2 Million in the year 2020 will reach a projected size of US$1.2 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$113.1 Million by the year 2026. MoreMarketGlass™ PlatformOur MarketGlass™ Platform is a free full-stack knowledge center that is custom configurable to today`s busy business executive`s intelligence needs! This influencer driven interactive research platform is at the core of our primary research engagements and draws from unique perspectives of participating executives worldwide. Features include – enterprise-wide peer-to-peer collaborations; research program previews relevant to your company; 3.4 million domain expert profiles; competitive company profiles; interactive research modules; bespoke report generation; monitor market trends; competitive brands; create & publish blogs & podcasts using our primary and secondary content; track domain events worldwide; and much more. Client companies will have complete insider access to the project data stacks. Currently in use by 67,000+ domain experts worldwide. About Global Industry Analysts, Inc. & StrategyR™Global Industry Analysts, Inc. is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.This article is shared with Prittle Prattle News in the form of a Press Release.By Reporter