According to the recent study the BRIC composites market is projected to reach an estimated $26.6 billion by 2028 from $19.1 billion in 2022, at a CAGR of 5.7% from 2022 to 2028. Growth in this market is primarily driven by the rise in demand for wind energy, construction, and pipe and tank end uses due to increase in the number of government projects like smart cities development, eco-friendly energy generation, fresh water transportation, sewage treatment system, rehabilitation of water and sewage pipe lines.
Browse 107 figures / charts and 68 tables in this 205 -page report to understand trends, opportunities and forecast in BRIC composites market by end use (pipe and tank, transportation, wind energy, aerospace and defense, construction, marine, electrical and electronics, and others) and country (Brazil, Russia, India China).
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“Construction market is expected to remain the largest segment during the forecast period.”
Based on end use, the BRIC composites market is segmented into pipe and tank, transportation, wind energy, aerospace and defense, construction, marine, electrical and electronics, and others. Lucintel forecasts that construction will remain the largest end use over the forecast period due to widespread acceptance and excellent corrosion resistance properties. Aerospace and defense is expected to witness highest growth over the forecast period.
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Major players of BRIC composites market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Chongqing Polycomp International Corporation, Owens Corning, Jushi Group Co., Ltd., Toray Industries Inc., Teijin Limited, Polynt Group, Ineos Composites are among the major BRIC composites providers.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/bric-composites-market.aspx or [email protected]