According to IndustryARC’s research, the high temperature composite materials market share was dominated by North America. In 2018, the region held a 37.5% share of the total revenue earned by the market globally. North American countries such as the United States of America invests millions of dollars every year in its defense industry. In 2019, the Trump administration estimated American defense budget allocation costs at $750 billion. The actual costs, however, exceeded $1 trillion, thus making this budgetary allocation the highest ever in American history. High temperature composite materials are heavily employed in the defense industry for their use in producing effective warfare. They are also used in the aerospace division of the defense industry thus generating a high demand for the market. Additionally, high temperature composite materials market is also generating demand from the space industry. Since the outer space has an incredibly high temperature, composite materials are being increasingly used in the development and production of space crafts.
High Temperature Composite Materials Market: Key Application
High Temperature Composite Materials Market: Competitive Landscape
The companies which hold majority shares in the market share are Kyocera Chemical Corporation, Royal Tencate N.V., Renegade Materials Corporation, Lonza Group, Ube Industries Ltd., 3M Co., General Electric Co., CeramTec GmbH, SGL Carbon SE, Vesuvius PLC, Lancer Systems LP, Ultramet Inc, Starfire Systems Inc.