Wind energy was the industry segment with the largest market penetration share for composite materials as of 2023. Due to their high strength, lightweight nature, and durability, composites accounted for a market penetration share of 21 percent in the wind energy segment within the materials market overall. Electrical and electronics followed with a materials market penetration of 14 percent.
Market penetration share of steel, aluminum, and composite materials worldwide in 2023, by segment
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Market penetration share of steel, aluminum, and composite materials worldwide in 2023, by segment
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Lucintel. (May 30, 2024). Market penetration share of steel, aluminum, and composite materials worldwide in 2023, by segment [Graph]. In Statista. Retrieved May 13, 2025, from https://www.statista.com/statistics/1607636/global-materials-market-penetration-share-composite-materials-by-segment/
Lucintel. "Market penetration share of steel, aluminum, and composite materials worldwide in 2023, by segment." Chart. May 30, 2024. Statista. Accessed May 13, 2025. https://www.statista.com/statistics/1607636/global-materials-market-penetration-share-composite-materials-by-segment/
Lucintel. (2024). Market penetration share of steel, aluminum, and composite materials worldwide in 2023, by segment. Statista. Statista Inc.. Accessed: May 13, 2025. https://www.statista.com/statistics/1607636/global-materials-market-penetration-share-composite-materials-by-segment/
Lucintel. "Market Penetration Share of Steel, Aluminum, and Composite Materials Worldwide in 2023, by Segment." Statista, Statista Inc., 30 May 2024, https://www.statista.com/statistics/1607636/global-materials-market-penetration-share-composite-materials-by-segment/
Lucintel, Market penetration share of steel, aluminum, and composite materials worldwide in 2023, by segment Statista, https://www.statista.com/statistics/1607636/global-materials-market-penetration-share-composite-materials-by-segment/ (last visited May 13, 2025)
Market penetration share of steel, aluminum, and composite materials worldwide in 2023, by segment [Graph], Lucintel, May 30, 2024. [Online]. Available: https://www.statista.com/statistics/1607636/global-materials-market-penetration-share-composite-materials-by-segment/
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