Composites Market is witnessing huge potential on account of continuous R&D activities by the major companies
Composites Industry Overview The global composites market size is expected to reach USD 144.5 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.6% from 2021 to 2028. Increasing demand for lightweight materials in various industries such as automotive and transportation, along with the increasing government investment in green transportation is augmenting growth of the market. Composites Market Segmentation Grand View Research has segmented the global composites market on the basis of product, manufacturing process, end use, and region: Based on the Product Insights, the market is segmented into Carbon Fiber, Glass Fiber and Others. The glass fiber composites segment led the market and accounted for about 61.1% share of the revenue in 2020. The beneficial properties of these fibers such as low thermal expansion, high stiffness, high temperature tolerance, high chemical resistance, an...