Market Size of Fiber Reinforced Composites Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | > 7.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Fiber Reinforced Composites Market Analysis
The global fiber reinforced composites market is expected to grow at with a CAGR greater than 7% during the forecast period. Major driving factors of the market studied are the beneficial properties of fiber reinforced composites like high strength to weight ratio, corrosion resistance, energy absorption on impact, moisture and chemical resistance. However, high cost of raw materials is hindering the growth of the market studied.
- North America accounts for the highest share of the market studied currently and is expected to dominate the market during the forecast period.
- Another major driver of the market studied is the increasing demand from the aerospace industry.
