Dublin, Jan. 30, 2024 (GLOBE NEWSWIRE) -- The "High-Temperature Composite Materials - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The Global High-Temperature Composite Materials industry is forecast to witness significant growth, with a strong CAGR of 7.6% leading to an estimated market size of US$8.2 Billion by 2030. The surge in demand can be attributed to the robust growth in key sectors and the technological innovation that these materials bring to various applications.
Market Dynamics and Segment Analysis
One of the key segments, Ceramic Matrix Composites (CMC), is set to demonstrate an impressive 8.1% CAGR due to its exceptional heat resistivity and durability, which are crucial in high-temperature environments.
The Metal Matrix Composites (MMC) segment follows closely, with an anticipated 7.4% CAGR propelled by their increasing adoption in automotive and aerospace industries.
Geographical Growth Prospects
The U.S. commands a considerable market share, estimated at US$1.4 Billion in 2022. Meanwhile, China is emerging as a high-growth market, projected to expand at a 9.3% CAGR, solidifying its position as a critical player in the global landscape.
Geographically, the European market is also showing promising growth, with Germany expected to achieve a near 7.4% CAGR, highlighting the region's commitment to technological innovation and advanced manufacturing.
Global Competitiveness and Market Players
A comprehensive analysis of the global competitive landscape includes an extensive list of industry frontrunners. The market comprises a blend of multinational corporations that are enhancing their market positions through strategic initiatives and technological advancements.
Economic Outlook and Future Trends
The global economy is charting a path to recovery, with projections of steady growth in both developed and emerging markets. The general sentiment is cautiously optimistic as inflation rates stabilize and the global GDP shows positive movement.
China's shift from its zero-COVID policy is expected to inject vigor into its market dynamics, while Indian GDP projections suggest a burgeoning economy that could redefine the global economic order. However, this optimistic scenario is not without its challenges.
Geopolitical tensions, inconsistent decline in global inflation, and consumer spending affected by retail inflation rates are noteworthy concerns that might temper market growth.
Technological Innovations Shaping the Market
- Generative and applied AI
- Industrial machine learning and advanced software development
- Emerging quantum technologies
- Rapid advancements in cloud and edge computing
- Growth in the electrification and renewables sector
These technological shifts hold the promise of incremental growth and have the potential to reshape the investment landscape over the coming years.
The report offers valuable insights into the current economic climate and a panoramic view of the market sentiment. It provides strategic discussions on global competitiveness while delivering in-depth market presence analysis across multiple geographies.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 410 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $4.6 Billion |
| Forecasted Market Value (USD) by 2030 | $8.2 Billion |
| Compound Annual Growth Rate | 7.5% |
| Regions Covered | Global |
Companies Profiled:
- 3M Company
- DuPont de Nemours, Inc.
- Akzo Nobel NV
- Evonik Industries AG
- Arkema Group
- Cabot Corporation
- DIC Corporation
- Ceramtec GmbH
- COI Ceramics, Inc.
- 3A Composites International AG
- Barrday Inc.
- De-Comp Composites, Inc.
- Diatex SAS
- AOC Aliancys
- Avient Corp.
For more information about this report visit https://www.researchandmarkets.com/r/lb2kob
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