Lucintel’s latest market report analyzed that composites provides attractive opportunities in the transportation, construction, wind energy, pipe & tank, marine, consumer goods, electrical and electronics, aerospace, and others. The composites market is expected to reach $39.4 billion by 2025 with a CAGR of 4%. In this market, transportation is the largest segment by end use industry, whereas injection molding is largest by manufacturing process. The development of low-cost carbon fibers, high performance glass fiber, and rapid cure resin system provides strategic growth path in this market.
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Based on end use industry, the composites market is segmented into transportation, marine, wind energy, aerospace, pipe & tank, construction, electrical & electronics, consumer goods, and others. The transportation segment accounted for the largest share of the market in 2020.
Browse in-depth TOC on “Composites Market”
38 – Tables
238 – Figures
The composites market is marked by the presence of several big and small players. Some of the prominent players offering composites include Owens Corning, Jushi Group, Nippon Electric, Toray Industries, and Hexel Corporation.
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