Composite materials have gained significant popularity owing to their high strength-to-weight ratio, resistance to corrosion, and versatility. Made by combining a polymer matrix with reinforcing fibers, composites enable innovative designs while being durable and lightweight. They are increasingly being used in aircraft components, wind turbine blades, sports equipment, pressure vessels and civil engineering applications due to their superior mechanical properties.

The global composite materials market is estimated to be valued at US$ 107.54 billion in 2024 and is expected to exhibit a CAGR of 7.3% over the forecast period from 2024 to 2031.

Key Takeaways
Key players operating in the composite materials market are Companies de, Saint-Gobain S.A., Momentive Performance Materials, Inc., Kineco Limited, Veplas Group, China Jushi Group Co., Ltd., Braj Binani Group, Guardian Fibre Glass.

The Composite Market Trends  is driving greater demand for advanced lightweight composites that reduce weight and improve fuel efficiency. Composites allow for 30-40% reduction in weight of aircraft compared to conventional materials. Growing passenger traffic is also spurring production of new aircrafts.

Countries worldwide are heavily investing in wind power to meet renewable energy targets. Composite materials find extensive usage in wind turbine blades due to their high strength, stiffness, impact resistance and durability in varying weather conditions. Their widespread adoption will facilitate increasing reliance on wind as a green power source.

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