Global Composites Market Size, Share, Growth and Trend Analysis Report, 2032

Summary
Market Landscape
Methodology
Table of Contents

Global Composites Market Size, Share & Growth and Trend Analysis Report, By Product Type (Carbon Fiber, Glass Fiber), By Manufacturing Process (Layup, Filament, Injection Molding, Pultrusion), By End-use (Automotive & Transportation, Wind Energy, Electrical & Electronics and Others) and Regional Forecasts (Asia Pacific, Europe, North America, Latin America and Middle East & Africa), 2024 – 2032

The composites market involves the production and application of materials made from two or more components, typically fiber reinforcements (like carbon or glass) and a matrix (such as polymer or metal).

These materials offer high strength, lightweight properties, and durability, making them essential in industries like aerospace, automotive, and construction. Increasingly, companies like US Composites Inc and Global Composites Inc are investing in innovative solutions to cater to the evolving needs of the composites industry.

The Global Composites Market was valued at approximately USD 90 billion in 2024 and is projected to reach USD XX billion by 2032, growing at a Compound Annual Growth Rate (CAGR) of XX% during the forecast period from 2025 to 2032.

Industry Trends

The composites market is increasingly focused on the development of lightweight, durable, and high-performance materials that are being adopted across industries like automotive, aerospace, and renewable energy. A prominent trend within the fiber reinforced composite market is the integration of advanced resin systems and carbon fiber technologies to improve efficiency and durability.

Innovations in manufacturing processes, such as composite molding for industrial applications and 3D printing, are enhancing material performance and scalability. Additionally, the industry is witnessing a shift towards sustainable solutions, with growing interest in eco-friendly alternatives in the composite materials market.

One of the key drivers of the transportation composite market is the rising demand for lightweight materials in the automotive sector. This has prompted car manufacturers to adopt composites to comply with stringent environmental regulations and reduce vehicle weight. Interestingly, composites play a role in the development of fuel-efficient vehicles, including what is the lightest car in automation categories.

In aerospace and defense, composites are essential for improving fuel efficiency and reducing overall weight, supporting growth in sectors such as the carbon composites market and metal matrix composites market. The increasing application of these materials across industries, including the medical composite material market, underlines their versatility.

However, the high cost of raw materials and growing demand from diverse sectors challenge procurement processes for manufacturers. Despite this, leading composite materials companies continue to invest in R&D to develop affordable solutions without compromising performance. Growth is also supported by specialized segments such as the textile composite market, cfrt composites market, and composite preform market.

Industry Expert's Opinion:

Brian Wardle, Professor of Aeronautics and Astronautics, MIT.

“Just like phyllo dough flakes apart, composite layers can peel apart because this interlaminar region is the Achilles’ heel of composites, We’re showing that nano stitching makes this normally weak region so strong and tough that a crack will not grow there. So, we could expect the next generation of aircraft to have composites held together with this nano-Velcro, to make aircraft safer and have greater longevity.”

Stephen Tsai, Emeritus Professor of Aeronautics and Astronautics, Stanford University.

“The authors have demonstrated that thin plies and nano stitching together have made significant increase in toughness. Composites are degraded by their weak interlaminar strength. Any improvement shown in this work will increase the design allowable and reduce the weight and cost of composites technology.”

TT Consultants’ Perspective

The global composites market is rapidly expanding, driven by advancements in manufacturing technologies like 3D printing, composite metal finishing market solutions, and automated fiber placement. The demand for lightweight, high-strength materials in sectors like automotive, aerospace, and construction is propelling growth. Additionally, the emergence of key players, including composite parts manufacturers in Europe, reflects the increasing emphasis on innovation and scalability within the composite materials industry.

As industries continue to prioritize high-performance, eco-friendly materials, the composites sector—spanning composite world applications—will remain pivotal to shaping the future of transportation, infrastructure, and sustainability.

Market Segmentation

1. By Product Type (Carbon Fiber, Glass Fiber)

Glass fiber held a significant share of XX% in the global composites market due to its high tensile strength, rigidity, and lightweight nature, making it a preferred choice for composite manufacturing across the composites industry.

On the other hand, carbon fiber-reinforced polymer (CFRP) is growing with a CAGR of XX% and is widely used in the aerospace sector due to its high strength, fuel efficiency, and compliance with strict environmental regulations. The growth in the carbon composites market is particularly notable here. Additionally, the cfrt composites market is expanding as industries adopt advanced fiber technologies. Other composite materials include silicon carbide fiber, aromatic polyamide fiber, and hybrid fiber, supporting sectors like the fiber reinforced composite market with their high-temperature resistance and durability.

2. By Manufacturing Process (Layup, Filament, Injection Molding, Pultrusion)

Layup process is widely used, capturing a share of XX% in the global composites market, especially in marine, aerospace, and construction sectors. It enables large, lightweight structures, making it essential in the composite world. Wet layup provides a cost-effective solution, while dry layup, utilizing pre-impregnated fibers, offers better precision.

Filament winding is utilized in producing cylindrical and hollow components like pipes and tanks, relevant to industries like composite molding for industrial applications. This process enhances strength, aligning well with the needs of sectors like oil & gas, chemical, and water treatment.

Injection molding, widely adopted in automotive and consumer electronics, is growing at a CAGR of XX% and serves as a fast, cost-effective method for complex parts. It supports the growth of composite materials companies catering to mass production demands.

Pultrusion is a key process producing fiber-reinforced plastics with a superior strength-to-weight ratio, highly suitable for infrastructure and construction applications. This process strengthens sectors like the composite preform market and composite metal finishing market due to its efficiency and consistency.

3. By End Use (Automotive & Transportation, Wind Energy, Electrical & Electronics and Others)

Composites are extensively used in automotive and transportation industries, including automobiles, trucks, buses, and trains. Their ability to replace traditional metals aligns with trends in the transportation composite market. The increasing adoption of composites contributes significantly to lightweight vehicle production, particularly in regions emphasizing fuel efficiency and sustainability.

In electrical and electronics, composites are essential in manufacturing terminal boxes, lamp housings, and enclosures, supporting growth in the composite materials industry. As the demand for advanced electronics surges, so does the need for composite materials.

The construction sector is another significant end user, where construction and infrastructural composites are applied in windows, bridge components, and long-span structures.

This segment captured XX% of the global composites market in 2024, driven by the flexibility and durability offered by composites. Applications here also align with the rise of the medical composite material market, especially in modern infrastructure requiring hygienic, durable materials.

4. By Region (Asia Pacific, Europe, North America, Latin America and Middle East & Africa)

North America, a mature market, accounted for USD XX bn in revenue in 2024, with the U.S. leading adoption thanks to major players like US Composites Inc. The region's focus on aerospace, defense, and automotive fuels demand, especially in the carbon carbon composite material market.

Europe, led by stringent environmental regulations, is expected to grow with a CAGR of XX%. The presence of leading aircraft manufacturers and strong automotive sectors, including composite parts manufacturers in Europe, accelerates growth.

Asia-Pacific is the fastest-growing market, driven by countries like China, India, and Japan. Strong demand in automotive, electronics, and wind energy sectors, along with infrastructure development, boosts the textile composite market and metal matrix composites market in the region.

Latin America, particularly Brazil and Mexico, is an emerging market showing growth in construction and transportation, contributing to the overall expansion of the global composites sector.

Competitive Scenario

Key competitors in the global composites market include Teijin Ltd., Toray Industries, Inc., Owens Corning, PPG Industries, Inc., Huntsman Corporation LLC, SGL Group, Hexcel Corporation, DuPont, Compagnie de Saint-Gobain S.A., Weyerhaeuser Company, Momentive Performance Materials, Inc., Cytec Industries (Solvay, S.A.), China Jushi Co., Ltd., Kineco Limited, and Veplas Group, among others.

Recent Developments and Strategic Activities:

In January 2025, the Clemson Composites Center announced plans to transform the Greenville area into a hub for researching and developing advanced manufacturing technologies.
In December 2024, Atlas Fiber provided an outlook on the thermoset composites market, indicating steady growth and opportunities in 2025.
In September 2024, French start-up Lavoisier Composites developed Carbonium is an eco-friendly carbon composite made from repurposed aerospace by-products. It has gained traction in the watchmaking and high jewelry industries for its unique properties and aesthetics.
In July 2024, Startups like Arris Composites, 9T Labs, and Orbital Composites have developed new manufacturing processes that make producing composite materials more efficient and cost-effective, potentially expanding their applications across various industries.