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Advanced Composites Market Size, Share, Trends and Revenue Analysis by 2024

The Global Advanced Composite Market was expected to be USD 17.47 billion in 2015. The market is expected to witness significant growth on account of growing demand in sporting goods and aerospace & defense industry.

Advanced Composites Market Size, Share, Trends and Revenue Analysis by

Advanced Composites Market Size, Share, Trends and Revenue Analysis by 2024 “The Global Advanced Composite Market was expected to be USD 17.47 billion in 2015. The market is expected to witness significant growth on account of growing demand in sporting goods and aerospace & defense industry.” Industry Insights The Global Advanced Composite Market was expected to be USD 17.47 billion in 2015. The market is expected to witness significant growth on account of growing demand in sporting goods and aerospace & defense industry. The commercial airline companies have increased the fleet size owing to a rise in the air passenger traffic, which is likely to have a positive impact on the demand for advanced composites over the forecast period. The growing utilization of the product in the automotive and marine applications is expected to bolster growth. Advanced materials popularly known as advanced polymer matrix components are light weight, high strength, and corrosion resistant fibers. The production of these materials is carried out by embedding fibrous material in different resin matrices. The extensive use of the product in aerospace & defense industry is expected to be the key driver for the industry growth. The exorbitant product cost is expected to hamper market growth. The advanced manufacturing of the product coupled with automation, bolster the cost of production. In addition, the use of high-priced, high-performance resins increases the overall cost of the product resulting in hampering the demand in the marine and automotive sector. However, the growing demand in the construction and sporting goods industry is expected to have a positive impact on the demand for the product. The advanced composites industry is categorized by complete integration across the value chain from manufacturers to distributors. The key companies manufacturing advanced fibers are Huntsman Corporation, Hexcel Corporation, and Koninklijke Ten Cate NV. Request Sample Copy of this Market Research @ https://www.millioninsights.com/industry-reports/advanced-composites-market/request-sample

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