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In the last two decades, a steep increment in the composites utilization in various applications has dramatically increased because they are stronger and lighter than their metal counterparts. Today, the composites have become a material of choice in every industries and it is not possible to find any industry which does not utilize composite materials. Transportation industry holds the maximum utilization of composite materials. The extensive changes in the technology and its need based utilization in the past three to four decades have created ample opportunities that have fostered the need of advanced materials in associated manufacturing technology [17]. Industries are making huge profits from the usage of composite materials. This vast expansion of composite usage assisted with the advancement in the low-cost production techniques has helped in decreasing the cost of fibers from $150.00/lb (year 1970) to about $8.00/lb (year 2000). The composites utilization in important industries are discussed below: