Composites Industry Growth Trends, Research and Revenue Analysis, 2030

Thu, 05 Dec 2024 06:11:38 +0000

The global composites market size was estimated at USD 93.69 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 7.2% from 2023 to 2030. This growth is attributed to the rising demand for lightweight components in the automotive and transportation industry. Furthermore, increasing utilization of advanced lightweight components across the manufacturing industries is anticipated to support the market growth during the forecasted years.