The Composites Market is to Touch $158 Billion by 2030; growing demand for sustainable and eco-friendly composite solutions, and expanding applications in automotive, aerospace, and renewable energy sectors. These factors are expected to fuel significant market growth during the forecast period.

The Composites Market size is estimated to reach $158 billion by 2030, growing at a CAGR of 7.9% during the forecast period 2024-2030, according to a recent report published by IndustryARC, titled, “Composites Market – By Type: FRP Composites (Fiber Reinforcement Polymers) (Glass Fiber Reinforced Polymers (GFRP), Carbon Fiber Reinforced Polymers (CFRP), Aramid Fiber Reinforced Polymers (AFRP), Others), Matrices (Polymer Matrix Composite (PMC), Metal Matrix Composite (MMC), Ceramic Matrix Composites (CMC)), Resins (Thermoset resins (Epoxy, Vinyl Ester, Polyester, Others), Thermoplastic resins), Others), By Form (Fiber Tow, Unidirectional Tape, Cloth), By Method (Open molding (Hand Lay-Up, Spray-Up, Filament Winding), Closed molding (Compression molding, Pultrusion, Reinforced Reaction Injection molding (RRIM), Resin Transfer molding (RTM), Vacuum Bag Moulding, Others)), By Application (Aerospace, Wind Energy, Automotive, Construction, Electrical, Sporting Goods, Pipes & Tanks, Others), By Geography - Global Opportunity Analysis & Industry Forecast, 2024-2030”

Rising industrial applications and technological advancements, along with increasing demand for lightweight and high-performance materials, and the growing emphasis on sustainability, are key drivers of market expansion for the Composites industry during the forecast period. 

In 2023, Asia-Pacific held the largest share of the Composites Market, accounting for 35%, followed by North America and Europe. The region's dominance is attributed to its strong industrial base, rapid urbanization, and significant investments in infrastructure and manufacturing. The increasing demand for lightweight and high-performance materials in automotive, aerospace, and construction sectors is a key factor driving market growth in this region. Additionally, the rise of renewable energy projects, particularly wind energy, has further boosted the demand for composites in Asia-Pacific. 

The Flame Scanner market is experiencing significant advancements in detection technologies, which enhance the precision and reliability of flame detection systems. Innovations such as the development of multi-spectrum detectors and advanced signal processing algorithms have improved the accuracy of flame detection across various industrial applications. These advancements enable more efficient monitoring of high-risk environments, such as oil & gas facilities, manufacturing plants, and chemical processing units, ensuring better safety and operational efficiency. By leveraging these cutting-edge technologies, manufacturers can meet the growing demand for robust flame detection solutions and gain a competitive edge in the market.

The Flame Scanner market is witnessing increased demand from emerging industries, such as renewable energy, electric vehicles, and data centers. These sectors require advanced safety solutions due to the unique risks associated with high energy densities and complex infrastructure. Flame scanners are essential in preventing and mitigating fire hazards in these environments, making them critical components in ensuring operational safety. As these industries continue to expand and evolve, the demand for specialized flame detection systems is expected to grow, presenting significant opportunities for companies developing innovative and tailored solutions to cater to these new market segments.