The advanced composites market is projected to grow at a CAGR of 10.6% from 2024 to 2031, reaching a market size of US$ 78.8 billion. The market is driven by the increasing demand for lightweight and durable products in various industries such as aerospace, automotive, and construction. The report covers the global market analysis, competitive evaluation, and regional assessment. The market is segmented by type, resin, process, and end-user, with carbon fiber composites and polyurethane resin being the largest segments.
The report also highlights the latest developments, key companies, and regional market analysis. Toray Advanced Composites, a leading player in the market, showcased its advancements in composite material technologies at JEC World 2023 and received the NADCAP certification in Non-Metallic Materials Manufacturing. The report provides a 360-degree synopsis of the competitive scenario and has enormous awareness joined to the ongoing item and technical improvements in the industry. The report benefits include a descriptive analysis of demand-supply gap, market size estimation, SWOT analysis, and forecast in the global market.