Lucintel's latest market report analyzed that functional composites provides attractive opportunities in the aerospace & defense, wind energy, transportation, consumer goods & electronics, building, construction, and storage & piping industries. The functional composites market is expected to reach $XX billion by 2028 with a CAGR of 8% to 10%. In this market, metal matrix is the largest segment by matrix type.

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Based on matrix type, the functional composites market is segmented into metal matrix, polymer matrix, ceramic matrix, and hybrid matrix. The metal matrix segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, due to the growing demand for low weight materials among the end use industries.

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The Functional Composites Market is marked by the presence of several big and small players. Some of the prominent players offering functional composites include 3A Composites, 3M, Air Products and Chemicals,Ametek,Applied Materials, Bayer AG, and E. I. Du Pont De Nemours.

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