Composites Global Market: Trends and Forecast to 2025 - 2032

Executive Summary Composites Market Size and Share Forecast

The global composites market size was valued at USD 110.85 billion in 2024 and is expected to reach USD 205.17 billion by 2032, at a CAGR of 8.00% during the forecast period.

The Composites Market report showcases the list of top competitors and gives the insights on strategic industry analysis of the key factors affecting the market. Examination of major challenges faced currently by the business and the probable future challenges that the business may have to face while operating in this market are also considered. The collected information and data is tested and verified by market experts before handing over it to the end user. The Composites Market report has been prepared with the experience of skilful and inventive team. It helps achieve an extreme sense of evolving industry movements before competitors.

This Composites Market research report consists of fundamental, secondary and advanced information allied to the global status and trend, market size, sales volume, market share, growth, future trends analysis, segment and forecasts from 2018 - 2025. This market study also evaluates the market status, market share, growth rate, sales volume, future trends, market drivers, market restraints, revenue generation, opportunities and challenges, risks and entry barriers, sales channels, and distributors. When a business struggles to gain competitive advantage in this swiftly transforming marketplace, then plumping for such Composites Market research report is highly recommended as it offers a lot of benefits for a thriving business.

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Composites Market Review

**Segments**

- By Fiber Type: Glass Fiber, Carbon Fiber, Aramid Fiber, Others
- By Resin Type: Thermosetting, Thermoplastic
- By Manufacturing Process: Lay-Up, Filament Winding, Injection Molding, Pultrusion, Compression Molding, Resin Transfer Molding, Others
- By End-Use Industry: Automotive & Transportation, Aerospace & Defense, Wind Energy, Electrical & Electronics, Construction, Marine, Others

The global composites market is segmented based on fiber type, resin type, manufacturing process, and end-use industry. In terms of fiber type, the market is divided into glass fiber, carbon fiber, aramid fiber, and others. Glass fiber composites are widely used in various industries due to their high strength and durability. Carbon fiber composites are known for their light-weight and high stiffness properties, making them ideal for aerospace and automotive applications. Aramid fiber composites offer excellent impact resistance and are commonly used in ballistic protection and aerospace applications. In the resin type segment, composites are categorized into thermosetting and thermoplastic composites. Thermosetting composites dominate the market due to their superior mechanical properties and resistance to heat and chemicals. The manufacturing process segment includes lay-up, filament winding, injection molding, pultrusion, compression molding, resin transfer molding, and others. Each process has its unique advantages and is chosen based on the specific requirements of the end product.

**Market Players**

- Owens Corning
- Hexcel Corporation
- Toray Industries, Inc.
- Teijin Limited
- SGL Carbon
- Solvay
- Mitsubishi Chemical Corporation
- BASF SE
- Huntsman International LLC
- Gurit

The global composites market is highly competitive and is dominated by key players such as Owens Corning, Hexcel Corporation, Toray Industries, Inc., Teijin Limited, SGL Carbon, Solvay, Mitsubishi Chemical Corporation, BASF SE, Huntsman International LLC, and Gurit. These companies invest heavily in research and development activities to introduce innovative products and technologies and maintain a competitive edge in the market. Collaborations, mergers, and acquisitions are common strategies adopted by market players to expand their product portfolios and geographical presence. With the increasing demand for lightweight and high-performance materials in various end-use industries, the composites market is expected to witness significant growth in the coming years.

The global composites market, despite being highly competitive, is characterized by continuous innovation and strategic partnerships among key players. Amid increasing demands for lightweight and high-performance materials, companies such as Owens Corning, Hexcel Corporation, and Toray Industries, Inc., are focusing on developing advanced composites that offer superior strength and durability. These market players are increasingly investing in R&D to introduce cutting-edge products that cater to the evolving needs of end-use industries such as automotive & transportation, aerospace & defense, wind energy, electrical & electronics, construction, marine, among others.

One of the emerging trends in the composites market is the growing adoption of sustainable and eco-friendly materials. With a greater emphasis on environmental sustainability, market players are exploring the use of bio-based resins and recycled fibers to reduce the carbon footprint of composite materials. This shift towards sustainability is driven by stringent regulations and increasing consumer awareness regarding the environmental impact of traditional composite materials. Companies like Teijin Limited and BASF SE are actively involved in developing eco-friendly composites to align with the global trend towards a greener future.

Furthermore, the aerospace and defense industry is a key driver of growth in the composites market. The demand for lightweight yet strong materials in aircraft manufacturing and defense applications is propelling the adoption of carbon fiber composites, which offer high strength-to-weight ratio and superior performance characteristics. Market players such as SGL Carbon and Solvay are focusing on catering to the specific requirements of the aerospace sector by developing advanced composites that meet stringent regulatory standards and ensure optimal performance in extreme environments.

Another significant factor shaping the composites market is the increasing investment in infrastructure development, especially in the construction and wind energy sectors. Composite materials are being widely used in structural applications for buildings, bridges, and wind turbine blades due to their excellent mechanical properties and resistance to corrosion. Key players like Mitsubishi Chemical Corporation and Gurit are leveraging their expertise in composite manufacturing processes such as pultrusion and resin transfer molding to meet the growing demand for durable and cost-effective solutions in the construction and renewable energy industries.

In conclusion, the global composites market is poised for substantial growth driven by technological advancements, strategic collaborations, and shifting consumer preferences towards sustainable materials. As key market players continue to innovate and expand their product offerings, the composites industry is expected to witness a surge in demand across diverse end-use industries, creating lucrative opportunities for growth and market expansion in the foreseeable future.The global composites market is experiencing a transformation driven by various factors such as technological advancements, changing consumer preferences, and increasing emphasis on sustainability. Market players are strategically focusing on innovation to meet the evolving demands across industries like automotive & transportation, aerospace & defense, wind energy, electrical & electronics, construction, marine, among others. One notable trend shaping the market is the rising adoption of sustainable and eco-friendly materials. Companies are investing in research and development to introduce bio-based resins and recycled fibers, aligning with the global shift towards environmental consciousness. This trend not only caters to regulatory requirements but also addresses consumer concerns regarding the environmental impact of traditional composite materials.

Moreover, the aerospace and defense sector continues to be a significant driver of growth in the composites market. The need for lightweight yet robust materials in aircraft manufacturing and defense applications is propelling the demand for carbon fiber composites with superior strength-to-weight ratios. Market leaders are keen on developing advanced composites that meet stringent industry standards and deliver optimal performance in extreme conditions. This focus on specialized solutions for the aerospace industry enhances the competitive positioning of companies like SGL Carbon and Solvay, enabling them to capture opportunities in this high-demand segment.

Additionally, the investment surge in infrastructure development, particularly in construction and wind energy sectors, is boosting the demand for composite materials with exceptional mechanical properties and corrosion resistance. Key players with expertise in manufacturing processes such as pultrusion and resin transfer molding are well-positioned to cater to the growing needs for durable and cost-effective composite solutions in these industries. Companies like Mitsubishi Chemical Corporation and Gurit are leveraging their capabilities to provide innovative products for structural applications in buildings, bridges, and wind turbine blades, further expanding their market presence and driving growth.

In conclusion, the global composites market is on a growth trajectory characterized by innovation, strategic collaborations, and a focus on sustainability. As market players continue to introduce cutting-edge products tailored to specific industry requirements, the composites sector is set to witness increased demand across diverse end-use segments. The combination of technological advancements and market trends indicates a promising outlook for the industry, paving the way for opportunities for expansion and profitability in the foreseeable future.

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Structured Market Research Questions for Composites Market

• What is the present size of the global Composites industry?
• What annual growth rate is projected for the Composites sector?
• What are the main segment divisions in the Composites Market report?
• Who are the established players in the global Composites Market?
• What geographic areas are explored in the Composites Market report?
• Who are the leading manufacturers and service providers for Composites Market?

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