Composites Market Registering At USD 130.83 Billion By 2024: Grand View Research Inc.
San Francisco, 12 December 2019: The Report Composites Market Size, Share & Trends Analysis Report By Product (Carbon, Glass), By Resin, By Manufacturing Process, By Application, By End Use, And Segment Forecasts, 2018 – 2025 The global composites market size is expected to reach USD 130.83 billion by 2024, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 7.8% over the forecast period. Rising demand for lightweight materials from automotive and aerospace industries is likely to drive market growth. Rising need for lightweight vehicles is expected to fuel composites market growth over the forecast period. U.S. and Europe are the key regions in the aerospace and defense sector with aircraft manufacturers such as Boeing and Airbus driving product demand. The composites market has observed backward as well as forward integration from various raw material manufacturers. In-house availability of major raw materials and p