The global BRIC composites market is projected to reach $28.1 billion by 2028, at a CAGR of 5.2% during 2022-2028. The growth of BRIC composites market is driven by the rise in demand for wind energy, construction, and pipe and tank end uses due to increase in the number of government projects like smart cities development, eco-friendly energy generation, fresh water transportation, sewage treatment system, rehabilitation of water and sewage pipe lines.
Some of the Key Questions answered in this exclusive report are:
Q.1 What are some of the most promising, high-growth opportunities for the BRIC composites market by end use (pipe and tank, transportation, wind energy, aerospace and defense, construction, marine, electrical and electronics, and others) and country (Brazil, Russia, India China)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 What are the business risks and threats to the BRIC composites market?
Q.4 What are some changing demands of customers in the BRIC composites market?
Q.5 What are the new developments in the BRIC composites market? Which companies are leading these developments?
Q.6 What strategic initiatives are being implemented by key players for business growth?
Q.7 What are some of the competitive products and processes in this BRIC composites area and how big of a threat do they pose for loss of market share via product substitution?
Q.8 What M&A activity has occurred in the last 5 years in this BRIC composites market?
Emerging trends, which have a direct impact on the dynamics of the industry, include 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.
Market Segmentation:
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.
Key Players in the BRIC composites market are 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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The report helps stakeholders understand the pulse of the market and provides them with information on key drivers, restraints, challenges, and opportunities for market growth. It would also help to understand the competitors better and gain more insights to improve their position in the business.
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