The Global Fiber-Reinforced Composites Market is anticipated to rise exponentially at a rate of 6.1% with the forecast period and is expected to reach USD 136.5 billion by 2028. The high demand for the composites from the transportation, electrical and electronics, wind energy and pipes and tanks industries across the globe is a major factor boosting the market growth rate.
Likewise, the increase in demand for these composites from emerging economies generate new opportunities for the growth of the fiber-reinforced composites market.
According to Data Bridge Market Research, the market for fiber-reinforced composites is expected to gain growth because of the growing usage of composite pipes in sewage and water management and oil and gas industry. In addition to this, rise in the rate of fiber-reinforced composites adoption in the transportation industry, the recovery of the U.S. marine industry, increase in the number of wind energy capacity installations as well as rise in the rate of fiber-reinforced composites adoption in the transportation industry, and the recovery of the U.S. marine industry are also significant driver within the forecast period.
Furthermore, the high cost associated with the processing and manufacturing and issues related to recycling can obstruct the market in the aforementioned forecast period. On the other hand, issues with developing low-cost technologies are projected to challenge the fiber-reinforced composites market.
Now the question is which are the other regions that fiber-reinforced composites market is targeting? Data Bridge Market Research has estimated North America to show profitable growth owing to the rise in consumption of these composites in various industries such as construction and infrastructure, wind energy, electrical & electronics and transportation and rise in number of wind energy installations within the region.
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Fiber-reinforced composites market is segmented on the basis of countries into the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Key Market Competitors Covered in the Report
Above are the key players covered in the report, to know about more and exhaustive list of fiber-reinforced composites companies’ contact us, https://www.databridgemarketresearch.com/toc/?dbmr=global-fiber-reinforced-composites-market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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Global Fiber-Reinforced Composites Market - Industry Trends and Forecast to 2028