The Global Hybrid Composites Market size is expected to grow from USD 763.89 Million in 2022 to USD 2369.47 Million by 2030, at a CAGR of 15.2 % during the forecast period (2023-2030).
Materials & Chemicals Market Research News
The thermoplastic tapes composites market is projected to grow USD 2.7 billion in 2023 and is projected to reach USD 4.4 billion by 2028, at a CAGR of 10.5% from 2023 to 2028. During the forecast period, the global thermoplastic tapes market is expected to grow in the coming years, driven by the superior properties of thermoplastic tapes such as lightweight, excellent mechanical properties, corrosion and chemical resistance, high strength and more. The market is also expected to benefit from technological advancements in ceramic matrix composite manufacturing processes, making the material stronger, lighter, and more durable.
Antifreeze/coolants are used to ensure the transfer of heat under extreme cold weather conditions. It prevents engines from overheating. The functioning of an internal combustion engine generates a significant amount of heat and this heat has to be dealt with using a coolant. Antifreeze/coolant plays an extremely vital role in automobiles, HVAC, heavy-duty equipment, aircraft, and electronics, among others. It is used to cool engine parts and ensures workability and performance of engines & heat exchangers. It also prevents freezing when the engine is being used in extremely cold climate. The global antifreeze/coolant market size was valued at USD 5.4 billion in 2020 and is projected to reach USD 5.9 billion by 2025 at a Compound Annual Growth Rate (CAGR) of 1.84%.
The UD tapes market is projected to grow from USD 194 million in 2021 to USD 332 million by 2026, at a CAGR of 11.4%, between 2021 and 2026. UD tapes are manufactured by unidirectional fiber impregnated with thermoset or thermoplastic resins. These tapes can be customized according to the specific end-use application. The demand for UD tapes is increasing in the aerospace & defense, automotive, and sports & leisure industries. The UD tapes market in the aerospace & defense industry is entirely dependent on the development of new aircraft and maintenance, repair, and operations (MRO).
The global ceramic armor market size is expected to grow from USD 2.3 billion in 2022 to USD 3.5 billion by 2027, at a CAGR of 8.6% during the forecast period. The high growth of ceramic armor can be attributed to substantial demand from military and defense applications. Increased threats from asymmetric warfare, regional conflicts, riots, and terrorism are increasing the need for protective clothing and safe vehicles for safeguarding armed forces, especially, in disputed regions across the globe. Therefore, military superpowers are continuously focusing on technological advancement and expansion of ballistic products by increasing their defense budget and investing in the production and R&D of ceramic armors. These factors are driving the growth of the global ceramic armor market.
The cranes rental market is estimated to be USD 42.1 billion in 2019 and is projected to reach USD 53.1 billion by 2024, at a CAGR of 4.7% from 2019 to 2024. Cranes are preferred to be rented rather than purchasing due to its cost advantage which comes with CPA (Contract Plant-Hire Agreement), stating all the liabilities including insurance, maintenance, and break-down will be held with the renting company. The key factor for growing demand is increasing investments, government initiatives, and favorable policies.
The Global Cast Elastomer Market size is expected to grow from USD 1.28 Billion in 2022 to USD 1.66 billion by 2030, at a CAGR of 3.3% during the forecast period (2023-2030).
The global construction & demolition waste market size is estimated to grow from USD 26.6 billion in 2021 to USD 34.4 billion by 2026, at a CAGR of 5.3% during the forecast period. The global market is primarily driven by increasing construction activities and inclination of governments toward sustainability in various regions across the globe. Rising demand for sustainable and recycled construction materials for commercial construction projects will further drive the construction & demolition waste market.
The market size of the high-speed separator market is projected to reach USD 1.5 billion by 2028, at a CAGR of 5.3% from USD 1.1 billion in 2023. The increasing industrialization & manufacturing activities, environmental regulations and sustainable initiatives and technological advancement, will contribute to the rapid growth in the demand for high-speed separator Market.
The insulating glass window market size was USD 12.0 billion in 2020 and is projected to reach USD 17.2 billion by 2026; it is expected to grow at a CAGR of 6.1% from 2021 to 2026. Insulating glass windows are gaining popularity as they prevent heat transfer in or out of a home or building and also reduce solar heat gain.
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