Market Size of Textile Composites Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
CAGR | > 6.00 % |
Fastest Growing Market | Asia Pacific |
Largest Market | North America |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Textile Composites Market Analysis
The global textile composites market is expected to grow at with a CAGR greater than 6% during the forecast period. One of the major factors driving the market is the growing demand from aerospace sector. However, textile composites' low resistance to impact is likely to hinder the growth of the market studied.
- Emerging Applications in the Optical Fiber Industry are expected to provide a major growth opportunity for the market studied.
- Asia-Pacific is expected to witness the highest growth rate during the forecast period owing to the growing defense expenditure in the region.
- Among the application areas, electrical & electronics application dominated the market studied and is expected to dominate the market studied during the forecast period.