Composites Market Report 2025

The composites market size has grown strongly in recent years. It will grow from $105.74 billion in 2024 to $116.25 billion in 2025 at a compound annual growth rate (CAGR) of 9.9%. The growth in the historic period can be attributed to growing awareness ofThe environmental benefits of using composites, increased demand for fuel-efficient vehicles, rise in demand for composites inThe construction industry, wind energy growth, corrosion resistance in chemical industry.

The composites market size is expected to see strong growth in the next few years. It will grow to $169.92 billion in 2029 at a compound annual growth rate (CAGR) of 10%. The growth in the forecast period can be attributed to electric vehicles expansion, infrastructure renewal, increasing use in marine industry, space exploration initiatives, increasing demand for composites in the defense industry. Major trends in the forecast period include bio-based composites, smart composites, recycling and circular economy, digital twin technology, hybrid composites.

The growth of the automotive and aerospace sectors is anticipated to significantly boost the composites market. In these industries, composites are utilized to enhance performance, provide corrosion resistance, and achieve fuel savings. For example, in November 2022, the Aerospace Industries Association (AIA), a US-based trade association representing manufacturers and distributors of civil, military, and business aircraft, reported an 11.2% increase in exports from the aerospace and defense (A&D) industry, reaching an overall value of $100.4 billion in 2022. Additionally, according to the India Brand Equity Foundation (IBEF), Indian automobile exports amounted to 1,419,430 units from April 2021 to June 2021, compared to just 436,500 units during the same period the previous year. Therefore, the expansion of the automotive and aerospace sectors is a key driver of growth in the composites market.

The increasing demand for renewable energy is expected to propel the growth of the composites market in the coming years. Renewable energy is power produced from environmentally replenished and non-depleting sources such as sunshine, water, wind, geothermal heat, and biomass. Composites' distinct traits, such as excellent strength, corrosion resistance, lightweight attributes, and longevity, make them an attractive alternative for different components and structures in renewable energy sources. For instance, in March 2023, according to the International Renewable Energy Agency (IRENA), a UAE-based international body tasked with encouraging collaboration, developing understanding, and promoting the use and long-term usage of renewable energy, the capacity of renewable energy worldwide rose by 10% in 2022, a 0. 4% increase over 9. 6% in the previous year. Therefore, the increasing demand for renewable energy is driving the composites market.

Leading companies in the composites market are prioritizing technological advancements, focusing on lightweight and high-strength composite materials to serve industries such as aerospace, automotive, and renewable energy. One example is HexForce 1K woven reinforcement fabric, a high-performance composite material designed for superior strength and durability, commonly used in industrial applications within the aerospace and automotive sectors. For instance, in September 2024, Hexcel Corporation, a US-based manufacturer of reinforcement products, composite materials, and engineered products, launched its new HexForce 1K woven reinforcement fabric. This lightweight fabric utilizes Hexcel's proprietary HexTow AS4C 1K carbon fiber, facilitating the production of high-strength, low-weight composite materials. These fabrics are ideal for various industrial applications, including golf shafts, hockey sticks, and automotive components.

Major companies operating in the composites market are focusing on developing innovative products, such as thermoplastic composites, to better meet the needs of their existing consumers. Thermoplastic composites are sophisticated materials composed of thermoplastic polymers and reinforcing elements such as fibers or fillers. For instance, in October 2022, Avient Corporation, a US-based manufacturing company of specialized polymer materials and composites, launched Polystrand continuous fiber-reinforced thermoplastic composites. Polystrand continuous fiber-reinforced thermoplastic composites are an innovative formulation derived from more than 95% recycled PET (rPET) resin. This expansion of the Polystrand offering into recycled content solutions is accessible in unidirectional tape and multi-axial laminates. The minimal weight, superior strength, and impact resistance of continuous glass fiber-reinforced rPET benefit applications ranging from transportation and trailers to pipeline reinforcement. The performance is comparable to that of normal PET formulations made with virgin resin.

In January 2022, JGC Holdings Corporation, a Japan-based engineering company, acquired ceramic composite products from Showa Denko Materials Co., Ltd. for an undisclosed amount. Through this acquisition, this current business is complemented by the one acquired from SDMC to strengthen its position in automotive, semiconductor, and industrial equipment applications. It consists of high-density silicon carbide ceramics, alumina ceramics, and zirconia-toughened alumina ceramics, as these goods are employed in coolant pump seals for automobile engines and require precise positioning. Showa Denko Materials Co., Ltd. is a Japan-based material technology company pioneering in the manufacturing and commercialization of chemical products for various industries.

Major companies operating in the composites market include General Electric Company, Rolls-Royce plc, SGL Carbon Graphite Technic Co. Ltd., Axiom Materials Inc., Minnesota Mining and Manufacturing Company, COI Ceramics Inc., CoorsTek Inc., Applied Thin Films Inc., Ultramet Technologies Limited, CFC Carbon Co. Ltd., UBE Industries Ltd., Kyocera Corporation, Speciality Materials Inc., Safran SA, Mitsubishi Rayon Carbon Fiber & Composites Inc., Johns Manville International Inc., Asahi Fibreglass Company, Owens Corning Fiberglass Company, China Fibreglass Company, Teijin Limited, Taishan Fibreglass SA, Kurarey Co. Ltd., Formosa Plastic Corp., Toray Industries Inc., DuPont de Nemours Inc., Nippon Sheet Glass Co. Ltd., Korea Nylon Inc., KCC Corporation, SAERTEX Wagener GmbH & Co. KG, Taiwan Glass Industry Corporation, Solvay SA, BASF SE, Huntsman Corporation LLC, TPI Composites Inc., Gurit Holding AG.

Composites refer to the material as a combination of two materials with different physical and chemical properties that have excellent strength-to-weight ratios and durability, are stronger than those individual materials by themselves, are corrosion resistant, durable, and have a lighter weight than most metals.

The components of the composites market are carbon fiber and glass fiber. Carbon fibre is a lightweight but very strong material. Carbon fibre is more firm than steel and five times stronger than it. The manufacturing process for these composites includes the layup process; filament winding process; injection moulding process; pultrusion process; compression moulding process; resin transfer moulding process; and others. They are divided based on resin type into thermoset composites and thermoplastic composites. Composites are used by various end users, such as aerospace and defense, wind energy, automotive and transportation, construction and infrastructure, marine, pipe and tank, electrical and electronics, and others.

The composites market research report is one of a series of new reports that provides composites market statistics, including composites market industry global market size, regional shares, competitors with composites market share, detailed composites market segments, market trends and opportunities, and any further data you may need to thrive in the composites market industry. This composites market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Asia-Pacific was the largest region in the composites market in 2024 and is also expected to be the fastest-growing region in the forecast period. The regions covered in the composites market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the composites market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The composites market consists of sales of natural fiber, aramid fiber, ceramic fiber, and metal fiber. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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