Polymer matrix composites are advanced composite materials that consist of a polymer matrix reinforced with fibers such as carbon fibers or glass fibers. These composites provide properties such as light weight, high strength, durability and heat resistance. They are increasingly being used in various applications such as aerospace, automotive, construction and marine among others. The aerospace industry has witnessed high demand for polymer matrix composites due to the stringent weight reduction requirements of aircrafts.
The global Polymer Matrix Composites market is estimated to be valued at US$ 23.01 billion in 2024 and is expected to exhibit a CAGR of 26% over the forecast period 2024 to 2031.
Key Takeaways
Key players: Key players operating in the Polymer Matrix Composites are On Deck Capital Inc., Lendingclub Corp., and Social Finance Inc. (Sofi). These players are focusing on developing advanced composite materials and expanding into new applications.
Key opportunities: The aerospace and defense industry provides significant Polymer Matrix Composites Market Trends due to growing requirement for lightweight and high strength materials in aircraft components. In addition, wind energy and infrastructure industries are emerging as major end-use sectors.
Global expansion: Leading composite manufacturers are expanding their production facilities globally especially in Asia Pacific to cater to the rising local demand. At the same time, they are also making strategic acquisitions of regional players to consolidate their market position.
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