Advanced Composites Market 2024 - By Current Industry Status, Growth Opportunities, and Top Key Players
“The market is driven by factors such as increasing use of advanced composites for aerospace & defence, transportation, sporting goods and energy industries.�
The global advanced composites market is expected to value 41.20 billion by 2024. The market is driven by factors such as increasing use of advanced composites for aerospace & defence, transportation, sporting goods and energy industries. In addition, the market is regulated on the account of their characteristics. The market witnesses several opportunities in form of extensive use of aramid for production of optical fibers, rubber reinforcements, and safety clothing. However, stringent laws and regulations are expected to create hindrance in the market during the forecast period. Overall, the advanced composites market in the global scenario is anticipated to witness a CAGR of 8.6%. Advanced composites industry is segmented based on fiber type, resin type, manufacturing process, and region. Fiber type for this market size includes aramid fiber composites, carbon fiber composite, and S-glass fiber composite. Resin type fiber for the market share is further segmented into advanced thermosetting composites and advanced thermoplastic composites. Manufacturing process for the market share includes hand layup/spray layup, filament winding, injection molding, pultrusion, compression molding, and RTM/VARTM.
Request Sample Copy of this Market Research @ https://www.millioninsights.com/industry-reports/advanced-composites-market/request-sample