Composites Market Is Expected To Expand At A CAGR Of 6.60% To 2028
Composites Industry Overview The global composites market size was estimated at USD 86.4 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.6% from 2021 to 2028. Increasing demand for performance materials in various industries such as automotive & transportation, wind energy, and aerospace and defense is expected to drive the market over the forecast period. The ongoing COVID-19 outburst across the globe has significantly impacted the supply chains as major economies suspended the trade operations. Moreover, demand for composites across various end-use industries such as aerospace, automotive, and construction has been reduced. However, with the ease of trade restrictions, the situation is expected to recover in 2021, which will restore the growth trajectory of the market. Gather more insights about the market drivers, restrains and growth of the Global Composites Market High cost of raw materials for composites is likely to challenge ...