SAN FRANCISCO, Oct. 12, 2020
SAN FRANCISCO, Oct. 12, 2020 /PRNewswire/ -- The global epoxy composites market size is anticipated to reach USD 42.92 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 6.2% from 2020 to 2027. Growing demand for lightweight material in industries, including aerospace and defense, automotive and transportation, and wind energy, is likely to propel the market growth.
Key suggestions from the report:
Read 100 page research report with ToC on "Epoxy Composites Market Size, Share & Trends Analysis Report By Fiber Type (Glass Fiber, Carbon Fiber), By End Use (Automotive & Transportation, Wind Energy), By Region, And Segment Forecasts, 2020 - 2027" at: https://www.grandviewresearch.com/industry-analysis/epoxy-composites-market.
Epoxy composites are widely used for manufacturing a wide array of aircraft as well as automotive parts. Augmenting concerns regarding CO2 emission levels and fuel consumption are expected to increase the use of carbon fiber epoxy composites as a substitute for various metal components, thereby propelling the demand for epoxy composites.
Technological advancements to reduce the manufacturing cycle time is projected to drive the demand for epoxy composites in the automotive industry. Furthermore, the demand for epoxy composites in the wind energy sector is likely to propel further owing to the additional product life and protection offered to the wind rotor blades that are functional in adverse weather conditions.
Surging demand for customized components, primarily in aircraft, automotive, and sports sectors, has urged the market players to integrate their products with downstream manufacturing technologies. Furthermore, surging demand for superior quality composite materials in the manufacturing sector is expected to drive investments in the market, thus complementing growth.
Grand View Research has segmented the global epoxy composites market on the basis of fiber type, end-use, and region:
List of Key Players of Epoxy Composites Market
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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