2024-01-16
At present, the composite materials industry is relatively small in scale, but has broad development prospects. The world's largest source of composite material technology is China, which accounts for 78% of the global total composite material patent applications. The global composite material market size in 2021 was 88 billion US dollars, and it is expected to reach 126.3 billion US dollars by 2026, with a composite growth rate of 7.5%. Fiberglass composite materials still hold the largest market share, with an estimated market size of 46 billion US dollars in 2020 and a composite growth rate of 5.3% from 2020 to 2027. It is expected to reach 60 billion US dollars by 2025.
With the vigorous development of the social economy and changes in economic structure, as well as the acceleration of emerging industries such as new energy, environmental protection, and high-end equipment manufacturing, the demand for high-performance fiber composite materials in China will become increasingly strong. Among them, the development of road transportation and industrial equipment has great potential to promote the growth of polymer composite materials. From the perspective of sub application fields, the demand growth in industries such as aviation engineering, vehicles, and wind power is strong.
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