Advanced Composites Market Size, Share, Trend, Forecast, & Industry Analysis

Ananya12106 Feb, 2023Business

Advanced composites market is likely to witness an impressive CAGR of 10.6% during the forecast period. The prime factor that is contributing to the growth of the advanced composites market is mainly the surging demand for composites from the rapidly expanding aerospace & defense and automotive industries, along with increasing usage of lightweight materials in sports, consumer electronics, and vehicles. Properties such as, high strength and reduced weight offered by advanced composites are the major factors behind the increasing penetration of advanced composites in the aerospace & defense, marine, sporting goods, transportation, and wind energy industries.