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High-Performance Composites Market Overview
The high-performance composites market is expected to grow at 6.4% CAGR from 2022 to 2029. It is expected to reach above USD 51.74 billion by 2029 from USD 36.998 billion in 2020.
Fiber and resin are the two distinct components that make up composites. The unusual material stands out for its great stiffness, strength, and lightweight qualities, which distinguish it from fiber and resin. Due to these characteristics, the chemical is now more in demand in a number of sectors, including aerospace, defense, and transportation. In high-performance polymer composites for aeronautical and astronautical applications, epoxy resin is widely employed as the matrix.
Segment Analysis
The market for high-performance composites is anticipated to develop at the highest CAGR during the forecast period for the thermoplastic resin type segment. Due to the flexibility of remelting and reforming that they offer due to the absence of crosslinking in thermoplastic resins, high-performance thermoplastic composites are being used more often across a variety of sectors, which can be credited to the rise of this market segment. These composite materials provide a smooth surface finish and strong impact strength. After being reheated, they are easily moldable. Since they have a longer shelf life, a quicker manufacturing cycle, and are simpler to recycle, high-performance thermoplastic composites are chosen over high-performance thermosetting composites.
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