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BRIC Composites Market Trends and Forecast

The future of the BRIC composites market looks promising with opportunities in the in the pipe & tank, transportation, wind energy, aerospace & defense, construction, marine, electrical & electronics application.The BRIC composites market is expected to reach an estimated $26.6 billion by 2028 with a CAGR of 5.7% 2022 to 2028.  The major driver for market growth is 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.

Lucintel forecasts that construction will remain the largest end use over the forecast period due to widespread acceptance and excellent corrosion resistance properties. Aerospace and defense is expected to witness highest growth over the forecast period