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SAN FRANCISCO , March 9, 2022 /PRNewswire/ -- The global composites market size is expected to reach USD 144.5 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.6% from 2021 to 2028. Increasing demand for lightweight materials in various industries such as automotive and transportation, along with the increasing government investment in green transportation is augmenting growth of the market.
Key Insights & Findings from the report:
Get Sample of this market research report, "Composites Market Size, Share & Trends Analysis Report By Product (Carbon, Glass), By Manufacturing Process (Layup, Filament, RTM), By End Use, By Region, And Segment Forecasts, 2021 - 2028", published by Grand View Research.
Composites Market Growth & Trends
The market is witnessing huge potential on account of continuous R&D activities by the major companies. Composites are anticipated to gain popularity owing to their superior properties coupled with their diversified applications in industries such as aerospace, automotive, electronics, construction, and energy.
The growth of the market is adversely impacted by the economic crisis and lockdown caused by the Covid-19 pandemic. However, increasing product demand in the automotive and electronics industry is anticipated to benefit the market growth. Industries are gradually shifting towards a new normal to gain a similar growth trend as before the pandemic.
The market is characterized by the presence of established players with a strong financial base; as a result, the entry barriers are high. In addition, high initial investments are required to sustain in the market, hence, the threat of new entrants is expected to be low.
Grand View Research has segmented the global composites market on the basis of product, manufacturing process, end use, and region:
Composites Product Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)
Composites Manufacturing Process Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)
Composites End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)
Composites Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)
List of Key Players of Composites Market
Check out more related studies published by Grand View Research:
Browse through Grand View Research's Advanced Interior Materials Industry Research Reports.
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco , the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Sherry James Corporate Sales Specialist, USA Grand View Research, Inc. Phone: 1-415-349-0058 Toll Free: 1-888-202-9519 Email: [email protected] Web: https://www.grandviewresearch.com Grand View Compass | Grand View Pipeline Follow Us: LinkedIn | Twitter
SOURCE Grand View Research, Inc.
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