The High Temperature Composite Materials Market is projected to reach USD 5.01 billion by 2021, registering a CAGR of 8.41% between 2016 and 2021. The major drivers of the high-temperature composite materials market are introduction of safety norms in public transport and increasing demand for lightweight and high-performance composite materials in aerospace & defense, transportation, and energy & power industries.
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The key drivers of high-temperature composite materials in the aerospace & defense industry are lightweight, FST compliance, excellent safety & acoustic features, and government regulations. In order to comply with regulatory norms, aerospace manufacturers such as GE Aviations (U.S.) and GE Honda Aero Engines (U.S.) have started using high-temperature composite materials to manufacture aerospace components such as jet turbines, nacelles, and radomes among other parts.
Thus, aerospace& defense application would be the most profitable investment pocket for stakeholders.
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North America is expected to be the fastest-growing market of high-temperature composite materials in the next five years. The development in infrastructure facilities, investment made by high-temperature composite materials manufacturers, and capacity expansions by various leading players are a few factors leading to the growth of the market in this region.
The U.S. leads the high-temperature composite materials market in North America. Its consumption of high-temperature composites has grown remarkably due to growth in the aerospace & defense and transportation industries.
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This study has been validated through primary interviews with various industry experts globally. The break-up profile of primary discussion participants is given here Tier 1 (50%); Tier 2 (37%) and Tier 3 (13%) companies were contacted for interviews.
The interviews were conducted with various key people such as C Level (46%), Director Level (33%), and Others (21%) from various key organizations. The primary interviews were conducted worldwide covering regions such as North America (34%), Europe (31%), Asia-Pacific (23%), Latin America (7%) and the Middle East & Africa (5%).
The report also includes company profiles and competitive strategies adopted by the key market players, such as Royal Ten Cate N.V. (Netherlands), Kyocera Corporation (Japan), BASF SE (Germany), SGL Group (Germany), Schweiter Technologies (Switzerland), Henkel AG & Co.
KGaA (Germany), Hexion, Inc. (U.S.), Ube Industries Ltd. (Japan), Solvay Group (Belgium), Nippon Carbon Company Ltd.
(Japan), Renegade Materials Corporation (U.S.).
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The report offers market estimations and projections till 2021 and offers a complete study of the market dynamics. In addition, the report provides the competitive landscape with major growth strategies adopted by the key players.
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