Unprecedented Expansion: Plastic-Rubber Composite Market Poised to Surpass US$ 3,638.5 Million by 2033
The plastic-rubber composites market is anticipated to be worth US$ 2,170.9 million in 2023. By 2033, the market is anticipated to reach US$ 3,638.5 million, growing at a 5.3% CAGR over that time. These composites offer greater performance qualities when compared to single materials. These composites combine the benefits of both plastic and rubber, such as impact resistance, durability, noise reduction, and vibration dampening, to enhance the overall performance, safety, and comfort of automobiles. The Organization for Economic Co-operation and Development (OECD) estimates that in 2022, passenger automobile sales in the UK will rise by 13.9%. In order to meet the rising demand, manufacturers are increasing their manufacturing capabilities by doubling and adding lightweight technology. Compared to conventional materials, plastic-rubber composites offer more design and flexibility. Manufacturers focus on creating unique and aerodynamic designs which can be molded into intricat...