Composite Market Size, Share, Trends & Industry Overview 2030

Composite materials have gained
significant popularity owing to their high strength-to-weight ratio, resistance
to corrosion, and versatility. Made by combining a polymer matrix with
reinforcing fibers, composites enable innovative designs while being durable
and lightweight. They are increasingly being used in aircraft components, wind
turbine blades, sports equipment, pressure vessels and civil engineering
applications due to their superior mechanical properties.



The global composite materials market is
estimated to be valued at US$ 107.54 billion in 2024 and is expected to exhibit
a CAGR of 7.3% over the forecast period from 2024 to 2031.



Key Takeaways

Key players operating in the composite materials market are Companies de,
Saint-Gobain S.A., Momentive Performance Materials, Inc., Kineco Limited,
Veplas Group, China Jushi Group Co., Ltd., Braj Binani Group, Guardian Fibre
Glass.



The Composite
Market Trends  is driving greater
demand for advanced lightweight composites that reduce weight and improve fuel
efficiency. Composites allow for 30-40% reduction in weight of aircraft
compared to conventional materials. Growing passenger traffic is also spurring
production of new aircrafts.



Countries worldwide are heavily investing in wind power to meet renewable
energy targets. Composite materials find extensive usage in wind turbine blades
due to their high strength, stiffness, impact resistance and durability in
varying weather conditions. Their widespread adoption will facilitate
increasing reliance on wind as a green power source.

Get
More Insights On, Composite
Market

Explore
More Related Article On, Portable
Beds Market

For
More Insights Discover the Report In language that Resonates with you