High Temperature Corrosion Resistant Composites Market Report
High-Temperature Corrosion-Resistant Composites Market is Segmented by Application Type (Aero Engine, Industrial, Space, and Others), by Process Type (Melt Infiltration, CVI, Sintering, and Others), by Material Type (SiC/SiC, Oxide/Oxide, C/SiC, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
High-Temperature Corrosion-Resistant Composites Market is Segmented by Application Type (Aero Engine, Industrial, Space, and Others), by Process Type (Melt Infiltration, CVI, Sintering, and Others), by Material Type (SiC/SiC, Oxide/Oxide, C/SiC, and Others), and by Region...
Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
Over the eons, metals and their alloys have widely been used for high-temperature applications. However, there has been a dire need to replace metals and their alloys in many applications which demand reduced weight along with better service life. Composites are one of the most preferred materials in the high-performance industries such as aircraft, space, and nuclear energy with most of the demand coming from low-temperature structural and non-structural applications.
Over the past few decades, significant investments from industry stakeholders have been poured into R&D for the development of composite materials that can perform well at extreme temperatures for a longer period. Many stakeholders have been efficacious in developing high-temperature corrosion-resistant composite parts that can operate at high temperatures, typically above 400°C and endure chemical attacks from gases, solid or molten salts, or molten metals, resulting into corrosion.
Creep strength and corrosion resistance are the two most pivotal properties required from composite materials in order to withstand such high temperatures and harsh environments. Some of the major commercial applications of high-temperature corrosion-resistant composites are components of hot sections of gas turbines, industrial furnace hardware, hot gas filtration, and heat shields in satellite launch vehicles.
Impact of COVID-19 on the Market Dynamics
The outbreak of Covid-19 has tumbled the global economic growth, affecting businesses across the globe with the high-temperature corrosion-resistant composites market being no exception. The market for high-temperature corrosion-resistant composites is experiencing a colossal decline with aerospace, the biggest market for such composites is undergoing severe challenges due to the pandemic. There have been supply chain disruptions and production cut by major aircraft manufacturers as airlines started deferring their orders in the wake of extremely low passenger traffic, leaving no options for aircraft engine manufacturers but to truncate their engine productions.
For instance, CFM delivered merely 450 units of Leap engines in the first half of 2020 against 861 engines during the same period in 2019. With revised production rates, CFM International’s anticipation is to manufacture around 800 to 1,000 Leap engines in 2020 as compared to mammoth 1,736 units in 2019. The reduction in the production of LEAP engines has a direct and most severe impact on the demand for high-temperature corrosion-resistant composites. Similary, other major markets for high-temperature corrosion-resistant composites are logging such massive declines on the account of the pandemic.
Despite huge setbacks on the market in 2020, the long-term outlook for the high-temperature corrosion-resistant composites market is still positive. The market is anticipated to log a rapid recovery from 2021 onwards assuming the approval for B737 max from the FAA and other regulatory authorities, the resurrection of the A320neo production rate, and the entry of COMAC C919 and B777x (GE9x engine). Growing penetration of CMCs in high-temperature applications for space vehicle launchers and the development of silicone-carbide composite cladding for light-water nuclear reactors are anticipated to further reinforce the demand in the long run.
Based on the application type, the market is segmented into aeroengine, industrial, space, and others. Aeroengine is expected to maintain its lead in the market over the next five years. Continuous efforts by aircraft engine manufacturers for the development of lightweight and high-performance parts for the hotter sections of gas turbines is driving the demand for high-temperature corrosion-resistant composites in aeroengine applications. GE9x engine that consists of five CMC components (all of them are high-temperature corrosive applications), completed its first flight with B777x in January 2020. GE has already secured more than 700 orders for its GE9x engines till date. Further COMAC has received 815 orders for C919 aircraft powered by CFM’s LEAP engine. CFM International has an order backlog of 15,614 Leap engines as of December 2019.
Based on the material type, the market is segmented into SiC/SiC, oxide/oxide, C/SiC, and others. SiC/SiC is expected to remain the dominant material type during the forecast period. SiC/SiC composites are preferred for high-temperature aeroengine applications due to their exceptional properties such as high thermal conductivity, excellent thermal shock resistance, creep resistance, and oxidation resistance as compared to their arc rivals. Increasing penetration of advanced composites in high-temperature applications in aircraft engines owing to their features such as lightweight compared to nickel alloys and greater inclination towards SiC/SiC composite materials for space vehicle launcher and nuclear reactor applications are driving the growth of the segment.
In terms of region, North America is likely to remain the most dominant market for high-temperature corrosion-resistant composites during the forecast period. The region is the manufacturing hub of the aerospace industry with the presence of several raw material suppliers, aircraft engine manufacturers, tier players, aircraft OEMs, space agencies, airlines, and MRO companies. The outbreak of the COVID-19 pandemic disrupted the entire supply chain of the aerospace industry, compelling aircraft OEMs such as Boeing to shut down their manufacturing facilities for a period. Despite severely hit from the COVID-19 outbreak, the region’s high-temperature corrosion-resistant composites market will maintain its lead in the global market during the forecast period.
The high-temperature corrosion-resistant composites market is segmented into the following categories.