Polymer Matrix Composites in Aerospace Industry is Fueling the Global Polymer Matrix Composites Market Growth
The global Polymer Matrix Composites Market is estimated to be valued at US$ 19.96 Bn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market Overview: Polymer matrix composites consist of a polymer matrix that is reinforced with fibers such as carbon, glass or aramid. They offer advantages such as lightweight, corrosion resistance and high mechanical strength. These properties make them suitable for applications in aerospace, automotive and defense industries. Market key trends: One of the major trend in the PMC market is growing demand of carbon fiber reinforced polymer composites in aerospace industry. Carbon fiber reinforced polymer composites are increasingly being used to manufacture aircraft components such as wings, fuselage and engine nacelles due to their high stiffness-to-weight and strength-to-weight ratios. Low operating costs and maintenance of aircraft with h...