Global composite market is expected to reach $40.2 billion by 2024

DALLAS, April 29, 2019 /PRNewswire/ -- According to a new market report published by Lucintel, the future of the global composites market looks attractive with opportunities in the transportation, construction, wind energy, pipe & tank, marine, consumer goods, electrical and electronics, aerospace, and others. The global composite materials market is expected to reach an estimated $40.2 billion by 2024 and it is forecast to grow at a CAGR of 3.3% from 2019 to 2024. The major drivers for growth in this market are increasing demand for lightweight materials in the aerospace & defense and automotive industry; corrosion and chemical resistance materials demand in construction and pipe & tank industry; electrical resistivity and high flame retardant materials demand in electrical and electronics industry.

Browse 38 market data tables and 238 figures spread through 385 pages and in-depth TOC on "Global Composites Market" at https://www.lucintel.com/composites-industry.aspx

In this market, different types of composites such as transportation, marine, wind energy, aerospace, pipe & tank, construction, electrical & electronics, consumer goods, and others are used as application type. On the basis of its comprehensive research, Lucintel forecasts that the aerospace and wind energy segments are expected to show above average growth during the forecast period from 2019 to 2024.

Download Free PDF Brochure @ https://www.lucintel.com/composites-industry.aspx#/ 

Asia Pacific is expected to remain the largest region by value and volume; this region is also expected to experience the highest growth over the forecast period because of growth in construction, transportation, and the electrical and electronics segments. Pre-Purchase Query @ https://www.lucintel.com/composites-industry.aspx#/ 

Emerging trends, which have a direct impact on the dynamics of the industry, include development of low-cost carbon fibers, high performance glass fiber, and rapid cure resin system.

Lucintel, a leading global strategic consulting and market research firm, has analyzed and forecasted for the global composites market by application, fiber type, resin type, manufacturing process, molding compound, country, and region and has come up with a comprehensive research report entitled  "Growth Opportunities in the Global Composites Market 2019-2024: Trends, Forecast, and Opportunity Analysis." The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions.

For a detailed table of contents, contact us mail at [email protected]

Brandon Fitzgerald
Lucintel
Dallas, Texas, USA
Email: [email protected]
Tel. 972.636.5056
Cell: 303.775.0751

SOURCE Lucintel

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http://www.lucintel.com

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