Lucintel's latest market report analyzed that BRIC composites provides attractive opportunities in the pipe & tank, transportation, wind energy, aerospace & defense, construction, marine, electrical & electronics application. The BRIC composites market is expected to reach $28.1 billion by 2028 with a CAGR of 5.2%. In this market, electrical and electronics is the largest segment by end use. Innovation trends focused on high tensile strength, innovation trends focused on high tensile modulus and glass fiber based composites part using 3D technology, low styrene content unsaturated polyester resin provides strategic growth path in this market.
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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. The electrical and electronics segment accounted for the largest share of the market in 2022 and is expected to register the highest CAGR during the forecast period, due to widespread acceptance and excellent corrosion resistance properties.
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68 – Tables
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205 – Pages
The BRIC Composites Market is marked by the presence of several big and small players. Some of the prominent players offering BRIC composites include Suzlon, Kineco Limited, Mahindra CEI Automotive Ltd., Tata AutoComp Systems, Chongqing Polycomp International Corporation (CPIC), Owens Corning, Jushi Group Co., Ltd., and Polynt-Reichhold.
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