The global advanced composites market is currently experiencing strong growth and projected to grow at a CAGR of around 9% from 2019-2024, according to a report from IMARC Group. Advanced composites are high-performance materials that possess superior mechanical resistance along with strength and stiffness. These composites are light in weight and have excellent dimensional stability, as well as thermal and electrical conductivity.

Advanced composites are widely employed across verticals like aerospace, automobile, construction, sports, and military. As these composites are used for manufacturing blades for wind turbines, an increase in the number of wind power stations around the world has also propelled the sales of advanced composites.

In the aerospace industry, reducing the weight of an aircraft is essential for enhancing its performance and fuel efficiency. As advanced composites are highly durable, have low density and are resistant to chemical corrosion, they are rapidly substituting traditionally used metals for the manufacture of aeronautical and aircraft components such as rudders, wings, elaborators, floor beams, landing gear, and engine nacelles.

These composites are also replacing alloys and metals in the automotive sector. This, coupled with the rising demand for high-performance luxury vehicles, is boosting market growth across the globe.

Advanced polymer composites are now being utilized in the production of sports equipment like snowboards, golf shafts, tennis racquets, and surfboard fins. Inflating disposable incomes and a rising number of sports enthusiasts are creating strong demand for quality sports equipment, thereby providing a thrust to market growth.

Additional details are available at www.imarcgroup.com.