Global Composites Research Business Prospects, Growth Opportunities, Regional Analysis ,Statistics and Forecast to 2027
Market Highlights: As per the MRFR analysis, the global composites market witnessed a healthy growth, and the market is likely to witness exponential growth over the next seven years. The market growth is attributed towards the continuously rising demand for lightweight automotive & aerospace components in order to reduce carbon emission and enhance fuel efficiency. The increasing usage of composites in construction applications coupled with a significant rise in construction output of developing economies is set to uplift the market growth. Higher income levels in developing countries of Asia Pacific and Latin America is further expected to drive the end-use industries and in turn augment composite consumption. Advanced composites are gradually penetrating in several end-use industries replacing conventional metals such as steel and iron. Reduced cycle time, codes and standards to support new material are factors slated to positively influence global composites market over the