The epoxy composite market is projected to reach US$33.06 billion by 2021, at a CAGR of 7.34% between 2016 and 2021, according to Research and Markets. The key factor expected to drive the growth of the market is the increasing use of epoxy composite in the wind energy industry, along with demand for lightweight materials with high strength and durability in the automotive and transportation, aerospace and defense, and construction industries. However, high volatility in the raw material prices and issues related to recyclability can restrain the growth of the market, the report warns.

Asia-Pacific is expected to be the fastest-growing market for epoxy composite during the forecast period due to increasing demand from the wind energy, automotive and transportation, sporting goods, aerospace and defense and construction industries, and increasing urbanization and industrialization in the region.

This story is reprinted from material from Research and Markets, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.