High-Temperature Composite Materials Market - Forecast(2023 - 2028)

High-Temperature Composite Materials Market Overview

High-Temperature Composite Materials Market size is forecast to reach US$7.4 billion by 2027, after growing at a CAGR of 8.1% during 2022-2027. High-temperature composite materials are lightweight composites and can withstand up to 1000°C. Ceramic matrix composites, polymer matrix composites, metal carbides and nitrides are some of the major types of high-temperature composite materials used among end-users. The rapid growth in aerospace and defense activities across the globe along with increasing investments in the energy sector are some of the major factors driving the market growth during the forecast period. High-temperature materials are used in the manufacturing of different components such as engine parts, exhaust parts, heat shields and fire barriers among others. The growing demand for these components among end-use industries including aerospace, energy and oil & gas is supporting the market demand for the high-temperature composite materials industry. The COVID-19 outbreak led to major economic problems and challenges for the High-Temperature Composite Materials industry globally. Governments all across the globe announced strict measures to slow the spread of the coronavirus and only the production of essential commodities was allowed, which impacted the non-essential commodity industries, thereby impacting the production of the High-Temperature Composite Materials industry.

High-Temperature Composite Materials Market Report Coverage

The “High-Temperature Composite Materials Market Report – Forecast (2022-2027)” by IndustryARC, covers an in-depth analysis of the following segments in the High-Temperature Composite Materials industry.

Key Takeaways

• The Asia-Pacific region is expected to grow at a high CAGR of 8.9% during the forecast period. One of the key drivers driving the market is rapid growth in the energy and aerospace industry.
• The growing investment in the aerospace and defense sector for manufacturing advanced jets and hypersonic vehicles is expanding the High-Temperature Composite Materials Market size during the forecast period.
• The polymer matrix composites are expected to grow at a high CAGR during the forecast period.
• A detailed analysis of strengths, weaknesses, opportunities and threats will be provided in the High-Temperature Composite Materials Market Report.

Figure: High-Temperature Composite Materials Market Revenue Share, By Geography, 2021 (%)

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High-Temperature Composite Materials Market Segment Analysis – by Matrix Systems

The ceramic matrix composites materials segment held a significant share of 30% in the High-Temperature Composite Materials industry in 2021 and is anticipated to grow at a significant CAGR during the forecast period 2022-2027. High-temperature ceramics such as silicon nitrides are used in piston recess wall bearings, brake disks and cylinder sleeves in engines. The need for ceramic matrix composite materials is also increasing due to their rising applications in petrochemical and nuclear fission and fusion reactors. Ceramic matrix composite materials offer various properties such as High thermal shock and creep resistance, high-temperature resistance and excellent resistance to corrosion and wear among others. These are some of the major properties driving the demand for the ceramic segment during the forecast period. According to the French airplane maker, Airbus completed 483 total A320 family deliveries in the 2021 year and also more than doubled its gross order intake compared to 2020. Hence the growth in the aerospace industry is driving the market for high-temperature composite materials.

High-Temperature Composite Materials Market Segment Analysis - by End-use Industry

The aerospace segment held a significant share of 14% in the High-Temperature Composite Materials industry in 2021 and is anticipated to grow at a significant CAGR during the forecast period 2022-2027. High-temperature composite materials are attractive materials for aviation and aerospace applications because of their exceptional strength- and stiffness-to-density ratios and superior physical properties. High-temperature composite materials are used in different components such as gas turbine engines, engine components, gas turbines, fixed & moving turbine components, suction box covers, hot gas flow liners, heat exchangers and brake disks among others. Boeing delivered a total of 340 commercial aircraft in 2021 and 157 in 2020. According to IBEF, the aerospace industry is growing significantly with the rising activities from both the defense and civil aviation sectors. The Indian aerospace & defense (A&D) market is projected to reach US$ 70 billion by 2030. Hence the growth in the aerospace industry is driving the market for High-Temperature Composite Materials.

High-Temperature Composite Materials Market Segment Analysis – by Geography

The North American region holds a prominent share in the High-Temperature Composite Materials industry in terms of revenue with a share of 36% in 2021 and is projected to dominate the market during the forecast period 2022-2027. The presence of developed nations such as the USA and Canada is driving the market growth in the region. The presence of key end-use manufacturing such as automotive, aerospace and oil & gas are driving the market growth during the forecast period. According to the facts published by OICA, the United States produced approximately 9.17 million units of vehicles in 2021. The growing production of vehicles is further driving the market for engine components, brake disks, fuel tanks and others. According to U.S. Energy Information Administration, there are 130 operable petroleum refineries in the United States. High-temperature pipes are used in oil & gas industry to transport heat oil and gases. These are some of the major factors driving the market growth for the high-temperature composite materials market during the forecast period.

High-Temperature Composite Materials Market Drivers

Growing Demand From Automotive Industry

High-Temperature Composite Materials are generally used in the automotive industry for manufacturing different components such as engine parts, brake disks and fuel tanks among others. Polymer matrix and metal matrix materials are widely preferred in the automotive industry to develop heat resistance components for engine applications. According to Hedges Company review, the United States has around 17.55 million light vehicles registered in 2020. They also mentioned, that Toyota company has registered around 2,112,940 units of light vehicle sales in the US during 2020-2021. According to IBEF facts, In January 2022, the total production of passenger vehicles, three-wheelers, two-wheelers and quadricycles reached 1,860,809 units in India. The rapid growth in automotive production is supporting the High-Temperature Composite Materials market size.

Growing Adoption In Aerospace And Defense Sectors

High-temperature composite materials are extensively used in aerospace and defense sectors to withstand high temperatures. High-temperature composite materials are also employed as thermal and acoustic insulators for the fuel tanks, vehicle engines and aircraft fuselage heat insulation material among others. The growing investment is the aerospace and defense industries is supporting the market growth for the high-temperature composite materials market. The Indian Airforce is planning to acquire 114 fighter jets out of which 96 jets will be manufactured in India under the Aatmanirbhar Bharat scheme. The German government is also buying 35 U.S. F-35 fighter jets to upgrade and strengthen its defense sectors. Hence the growing aerospace and defense will boost the market growth during the forecast period.

High-Temperature Composite Materials Market Challenges

High Processing and Manufacturing Costs

The costs associated with high-temperature composite materials can generally be broken down into five areas fiber (reinforcement), resin (matrix), consumable materials (needed to assist the combination of reinforcement and matrix), labor costs and machine costs. The major cost is typically the reinforcement element. There is an absence and demand for highly skilled manpower, who particularly knows how to use efficient techniques of high-temperature composite materials. High-temperature composite materials prices are also high compared to normal composite materials. These are some of the major challenges hampering the market growth during the forecast period.

High-Temperature Composite Materials Industry Outlook

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the High-Temperature Composite Materials Market. The top 10 companies in the High-Temperature Composite Materials Market include:

1. BASF SE
2. Henkel AG & Co. KGAA
3. Kyocera Chemical Corporation
4. UBE Industries Ltd.
5. Hexion Inc.
6. Cytec Industries, Inc.
7. SGL Group
8. Royal Tencate N.V.
9. Schweiter Technologies
10. Nippon Carbon Company Ltd

Recent Developments

• In February 2021, BASF expanded its polyphthalamide (PPA) portfolio of Ultramid Advanced with carbon-fiber reinforced grades with fillings of 20, 30 and 40 percent. These materials are used in automotive applications, consumer electronics and loaded industrial equipment applications.
• In December 2020, Toray Advanced Composites announced that “it has completed a long-term supply agreement with Joby Aviation for the composite material used for its aircraft. The California-based aircraft company will use Toray’s carbon fiber composite materials to bring fast, affordable and zero-emissions aerial ridesharing to global communities
• In February 2020, AXIOM materials opens a high-temperature composite center. Axiom Materials has set up a new 3500-square-meters facility for the development, analysis and production of ceramic matrix composite materials.

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