The composites industry has witnessed stable growth for a few decades now, owing to the recent economic development in several regions and the rising penetration of composites in major markets such as wind energy, construction, automobile, and aeronautics. The developed markets of Europe and North America have witnessed the strongest growth thanks to the well-established presence of the material and competition with steel, aluminum, and technical polymers.
China's composites industry has been relatively untouched by the recession and the country continues to expand based on this head start. Advanced composites have been dominating the market for emerging materials in the last five to ten years due to their sheer number and volume of applications. Niche segments such as sports goods, CNG tanks, and healthcare have gained a significant share in the advanced composites market.
Persistence Market Research dives into the depths of these trends to offer unbiased research solutions to clients looking to gain sharp insights on countries, industries, and consumers across the globe.