Reinforced Plastics Market Growth | Statistics, Trends, Competitor Share, Global Expansion and Forecast to 2027
Allied Market Research published a report, titled, "Reinforced Plastics Market by Fiber Type (Glass Fiber, Carbon Fiber, Aramid Fiber, and Others), Polymer (Thermoset and Thermoplastic) and Application (Automotive, Building & Construction, Aerospace & Aviation, Wind Energy, Marine, Electrical & Electronics, and Others): Global Opportunity Analysis and Industry Forecast 2020–2027." The global reinforced plastics industry garnered $228.4 billion in 2019, and is projected to reach $295.6 billion by 2027, registering a CAGR of 4.1% from 2020 to 2027. Drivers, restraints, and opportunities Surge in implementation of GFRP composites in the automotive industry, rise in epoxy composite demand from the wind energy sector, and increase in applications of fiber composites propel the growth of the global reinforced plastics market. However, issues related to recycling restrain the market growth. Contrarily, increase in demand of GFRP composite pipes from dev...