Global Composites Market Size is valued at USD 133.1 Billion in 2024 and is predicted to reach USD 313.2 Billion by the year 2034 at a 9.2% CAGR during the forecast period for 2025-2034.
A composite is a substance made up of two or more different substances that, when combined, are more potent than when used separately. Numerous industries, such as architecture, infrastructure, and automotive, are adopting composites. They have distinct qualities that make them the ideal replacement for substances like granite, steel, aluminum, and wood. This increase is responsible for the expanding need for weightless components in the automotive and transportation sectors.
Additionally, during the predicted years, the market expansion is expected to be supported by increased use of innovative lightweight components across all industrial sectors. Composites are used in the aerospace and defense industries because they significantly lower the body weight of military aircraft and helicopters. It is believed that a weight reduction is necessary to improve overall performance and fuel efficiency, and it is anticipated that this will become the main factor boosting the industry's growth.
Automotive manufacturers have been compelled to advance their technologies and create low-pollution vehicles by the mounting environmental concerns and strict pollution control legislation. In addition, the implementation of environmental legislation, particularly in Europe and the United States, has compelled automotive manufacturers to use composites in the production of automobiles. The market growth is anticipated to increase gradually as a result. Due to their high price, composites can only be used in high-end automobiles.
The composites market is segmented on the fiber type, resin type, end-use industry and manufacturing process. Based on fiber type, the market is segmented into glass fiber composites, carbon fiber composites, natural fiber composites and other fiber composites. Based on resin type, the market is segregated into thermoset composites and thermoplastic composites. Based on the end-use industry, composites market is segmented into aerospace & defense, wind energy, automotive & transportation, construction & infrastructure, marine, pipe & tank, electrical & electronics and others. Based on the manufacturing process, the market is segmented into lay-up, filament winding, injection molding, pultrusion, compression molding, RTM and others.
The thermoset composites category seized the highest revenue share, and it is anticipated that they will continue to have that position during the anticipated time. A substrate or base material like paper, cotton fabric, or glass cloth, along with an adhesive or resin-like epoxy, melamine, or silicone, make up the majority of thermoset composites. The thermoset laminate is produced by pressing layers of material into sheets while heating and applying pressure to the base material, which is covered with adhesive. Strong materials comprised of a substrate and resin are known as thermosetting materials. They cannot be reformed, and high temperatures do not cause them to melt, yet they are easily machinable since they are naturally stiff.
The construction & infrastructure category is anticipated to grow significantly over the projection period. Composite materials provide significant improvements in corrosion resistance and structural response. Structures of composite materials include storage tanks, bridges, lighthouses, hydraulic systems, and door and window components. Composites have a high specific strength and can withstand higher stress per unit of weight due to their high strength and lightweight qualities, which make them an attractive building material.
The Asia Pacific composites market is expected to register the highest market share in revenue in the near future. The market for composites in this area is expanding due to the rapid development of application sectors like transportation, wind energy, and aerospace & military. Additional factors accelerating the expansion include the cities' quick urbanization and significant carbon fiber producers in APAC. In addition, North America is projected to grow rapidly in the global composites market because of government funding and technological advancements in the aerospace and defense industries.
The U.S. Aerospace & Defense (A&D) industry is recognized as a leader in the design and development of technologically sophisticated aircraft and defense capabilities, and it is present in the area with several aircraft Original Equipment Manufacturers (OEMs). With a weight reduction of 20% to 50% in aircraft applications, composites offer great impact resistance and thermal stability.
|
Report Attribute |
Specifications |
|
Market size value in 2024 |
USD 133.1 Billion |
|
Revenue forecast in 2034 |
USD 313.2 Billion |
|
Growth rate CAGR |
CAGR of 9.2% from 2025 to 2034 |
|
Quantitative units |
Representation of revenue in US$ Mn, Volume (KT) and CAGR from 2025 to 2034 |
|
Historic Year |
2021 to 2024 |
|
Forecast Year |
2025-2034 |
|
Report coverage |
The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
|
Segments covered |
Fiber Type, Resin Type, End-Use Industry And Manufacturing Process |
|
Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
|
Competitive Landscape |
Owens Corning (US), Toray Industries, Inc. (Japan), Teijin Limited (Japan), Mitsubishi Chemical Holdings Corporation (Japan), Hexcel Corporation (US), SGL Group (Germany), Nippon Electrical Glass Co. Ltd. (Japan), Huntsman International LLC. (US), and Solvay (Belgium). |
|
Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Composites Market By Fiber Type
Composites Market By Resin Type
Composites Market By Application
Composites Market By Manufacturing Process
Composites Market By Region-
North America-
Europe-
Asia-Pacific-
Latin America-
Middle East & Africa-
InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.
Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.
Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.
Secondary research
The secondary research sources that are typically mentioned to include, but are not limited to:
The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista
Primary Research:
Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies
The contributors who typically take part in such a course include, but are not limited to:
Data Modeling and Analysis:
In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.
The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.
To know more about the research methodology used for this study, kindly contact us/click here.
