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Global Fiber-Reinforced Composites Market to Reach $126 Billion by 2027
In the changed post COVID-19 business landscape, the global market for Fiber-Reinforced Composites estimated at US$87.7 Billion in the year 2020, is projected to reach a revised size of US$126 Billion by 2027, growing at a CAGR of 5.3% over the analysis period 2020-2027. Glass, one of the segments analyzed in the report, is projected to record a 5.3% CAGR and reach US$71 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Carbon segment is readjusted to a revised 6.8% CAGR for the next 7-year period.

The U.S. Market is Estimated at $24.1 Billion, While China is Forecast to Grow at 8.8% CAGR
The Fiber-Reinforced Composites market in the U.S. is estimated at US$24.1 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$25.9 Billion by the year 2027 trailing a CAGR of 8.9% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.8% and 4.4% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.6% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$16.6 Billion by the year 2027.



Aramid Segment to Record 3.7% CAGR
In the global Aramid segment, USA, Canada, Japan, China and Europe will drive the 3.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$2 Billion in the year 2020 will reach a projected size of US$2.6 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Latin America will expand at a 4% CAGR through the analysis period.