New Report Examines the Growth of the High-Temperature Composite Materials Market| MarketsandMarkets™

Posted by Jack Martin on March 31st, 2023

High-Temperature Composite Materials are composite materials that can withstand higher temperatures than conventional composite materials. They are typically made of a combination of high-temperature resistant fibers and resins like carbon, Kevlar, and PEEK. The aerospace, automotive, medical, and energy industries are the primary drivers of their use and demand. These materials are used to make engine parts, fuel tanks, exhaust manifolds, and other high-temperature components for automotive and aerospace applications, as well as medical implants and radiation shielding. They are also used in the energy industry to insulate steam and hot water pipes, as well as turbines.

The demand for High-Temperature Composite Materials is expected to grow as new applications are developed and as the aerospace, automotive, medical, and energy industries increasingly rely on them. The global high-temperature composite materials market size was projected to reach USD 5.01 Billion by 2021, registering a CAGR of 8.41%.

The demand for high-temperature polymer matrix composite materials in the transportation industry for weight reduction and fire, smoke & toxicity (FST) compliance is growing in the modern light and passenger rails. Further, health, safety, and environmental regulations regarding toxic smoke emission standards, specifically, in North America and Europe, are the major factors driving the demand of FST complaint high-temperature thermoset and thermoplastic composite materials in the transportation industry.

The largest market for high-temperature composite materials is North America, followed by Europe, Asia Pacific, and the Rest of the World. The presence of many aerospace and automotive companies, which are increasingly using high-temperature composite materials due to their low weight, high strength, and corrosion resistance, can be attributed to the region's growth. Significant investments are also being made in research and development activities in the region, with the goal of developing advanced materials with higher temperature resistance. Furthermore, the presence of an established manufacturing infrastructure as well as key players such as 3M, Lockheed Martin, and Boeing are driving the growth of the North American high-temperature composite materials market.