Positive: Composite resin market projected to reach USD 16.7 billion by 2032, driven by demand and innovation.

From GlobeNewswire: 2024-12-09 08:05:00

The Composite Resin Market is projected to reach USD 16.7 billion by 2032, growing at a CAGR of 5.4% fueled by demand for advanced materials in automotive and aerospace. Sustainability drives the transition to bio-based resins, while technological advancements enhance resin formulations. Stringent regulations push for eco-friendly solutions. Thermoplastic composite resins led the market in 2023 due to their efficiency and recyclability. Hand lay-up molding dominated applications in 2023. Asia-Pacific holds the largest market share, driven by industrialization and demand for composite materials. Recent developments include eco-friendly resins from Owens Corning, high-performance epoxy resins from Huntsman, and bio-based resins from BASF. The market is set for robust growth with a focus on sustainability and technological innovations.

Source: https://www.globenewswire.com/reports/composite-resin-market-1911



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