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Add to CartGlobal Advanced Composites Market Growth, Share, Size, Trends and Forecast (2025 - 2031)
By Fiber Typee;
Carbon Fiber Composites, Aramid Fiber Composites, S-Glass Composites, and OthersBy Resin Type;
Advanced Thermosetting Composites and Advanced Thermoplastic CompositesBy Manufacturing Process;
AFP/ATL, Compression Molding Process, Hand Layup/Spray Layup Process, Resin Transfer Molding Process, Filament Winding Process, Injection Molding Process, Pultrusion Process, and OthersBy End-Use Industry;
Aerospace & Defense, Wind Energy, Transportation, Sporting Goods, Pipes & Tanks, Marine, Civil Engineering, Electrical & Electronics, Medical, and OthersBy Geography;
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America - Report Timeline (2021 - 2031)Advanced Composites Market Overview
Advanced Composites Market (USD Million)
Advanced Composites Market was valued at USD 372,759.86 million in the year 2024. The size of this market is expected to increase to USD 726,403.51 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 10.0%.
Global Advanced Composites Market Growth, Share, Size, Trends and Forecast
*Market size in USD million
CAGR 10.0 %
| Study Period | 2025 - 2031 |
|---|---|
| Base Year | 2024 |
| CAGR (%) | 10.0 % |
| Market Size (2024) | USD 372,759.86 Million |
| Market Size (2031) | USD 726,403.51 Million |
| Market Concentration | Medium |
| Report Pages | 381 |
Major Players
- Toray Industries, Inc.
- Recent Developments
- Teijin Limited
- Mitsubishi Chemical Holdings Corporation
- SGL Group
- Koninklijke Ten Cate BV.
- Huntsman International, LLC.
- Solvay
- Hexcel Corporation
- Hexion
- E. I. Du Pont Nemours & Co.
- Owens Corning
Market Concentration
Consolidated - Market dominated by 1 - 5 major players
Global Advanced Composites Market
Fragmented - Highly competitive market without dominant players
The Advanced Composites Market is gaining traction due to its application in industries that demand materials with high strength-to-weight ratios and durability. These composites, particularly reinforced polymers and carbon fibers, are becoming essential in modern engineering. Over 65% of the demand is fueled by transportation and aerospace sectors, driven by the need for lightweight yet robust components.
Performance Benefits Driving Market Growth
Known for their mechanical strength, thermal stability, and corrosion resistance, advanced composites offer significant performance advantages over traditional materials. These attributes are crucial in demanding environments. Currently, more than 50% of performance-driven engineering solutions utilize advanced composites to meet operational and safety standards.
Process Innovation Accelerating Adoption
Advances in fabrication and molding techniques, including automation and 3D printing, are enhancing the efficiency of composite manufacturing. These innovations not only reduce costs but also improve consistency and scalability. About 30% of recent advancements focus on integrating automation into production lines.
Expanding Applications Beyond Traditional Industries
The use of advanced composites is rapidly expanding into consumer electronics, sports equipment, and energy systems, driven by the demand for lightweight, resilient, and sleek materials. More than 45% of high-end consumer products now feature composite materials, showcasing their growing importance in functional and aesthetic design.
Advanced Composites Market Recent Developments
- In June 2022, Hexcel Corporation announced that Sikorsky, a Lockheed Martin Company, has provided a long-term contract, in order to deliver innovative composite structures for the CH-53K King Stallion heavy lift helicopter program
- In March 2022, Hexcel Corporation announced the expansion of its current engineered core manufacturing operation in Morocco. In order to address the rising demand for lightweight advanced composites from aerospace clients
Advanced Composites Market Segment Analysis
In this report, the Advanced Composites Market has been segmented by Fiber Type, Resin Type, Manufacturing Process, End-Use Industry, and Geography.
Advanced Composites Market, Segmentation by Fiber Type
The Advanced Composites Market has been segmented by Fiber Type into Carbon Fiber Composites, Aramid Fiber Composites, S-Glass Composites, and Other Composites.
Carbon Fiber Composites
Carbon fiber composites dominate the advanced composites market, accounting for approximately 45% of total demand. These materials provide high strength-to-weight ratio, stiffness, and corrosion resistance, making them ideal for aerospace, automotive, and sports equipment applications.
Aramid Fiber Composites
Aramid fiber composites represent around 25% of market share. Known for their impact resistance, heat resistance, and lightweight properties, they are widely used in military, ballistic protection, and automotive applications.
S-Glass Composites
S-glass composites contribute approximately 20% of the market. These composites offer high tensile strength, thermal stability, and cost-effectiveness, making them suitable for marine, wind energy, and infrastructure applications.
Other Composites
The others category, including basalt fiber and hybrid composites, makes up the remaining 10% of market share. These materials are used in niche applications requiring customized performance characteristics and specialized properties.
Advanced Composites Market, Segmentation by Resin Type
The Advanced Composites Market has been segmented by Resin Type into Advanced Thermosetting Composites and Advanced Thermoplastic Composites.
Advanced Thermosetting Composites
Advanced thermosetting composites dominate the advanced composites market, accounting for approximately 60% of total demand. These materials offer high strength, thermal stability, and resistance to chemical degradation, making them widely used in aerospace, defense, and automotive applications.
Advanced Thermoplastic Composites
Advanced thermoplastic composites represent around 40% of market share. Known for their toughness, recyclability, and faster processing times, these composites are increasingly used in automotive, medical, and consumer electronics industries.
Advanced Composites Market, Segmentation by Manufacturing Process
The Advanced Composites Market has been segmented by Manufacturing Process into AFP/ATL, Compression Molding Process, Hand Layup/Spray Layup Process, Resin Transfer Molding Process, Filament Winding Process, Injection Molding Process, Pultrusion Process, and Others.
AFP/ATL (Automated Fiber Placement/Automated Tape Laying) Process
AFP/ATL processes account for approximately 25% of the advanced composites market. These highly automated methods enable precision layups and consistent quality, widely used in aerospace and defense manufacturing.
Compression Molding Process
Compression molding represents around 20% of market share. It offers high-volume production and cost-efficiency for automotive, industrial, and sporting goods applications.
Hand Layup/Spray Layup Process
Hand layup and spray layup contribute approximately 15% of the market. These traditional methods provide flexibility and low tooling costs for custom composite structures and prototypes.
Resin Transfer Molding (RTM) Process
RTM holds about 10% of market share. This process allows for complex shapes and high-quality surface finishes, used in automotive components and industrial parts.
Filament Winding Process
Filament winding contributes around 10% of the market. It produces high-strength cylindrical components such as pressure vessels and pipes, ideal for oil & gas and chemical industries.
Injection Molding Process
Injection molding represents about 10% of market demand. It supports mass production and complex part geometries, commonly used in consumer electronics and medical devices.
Pultrusion Process
Pultrusion accounts for approximately 5% of the market. It offers continuous production of long composite profiles with consistent cross-sections, used in construction and infrastructure projects.
Others
The others category, including vacuum infusion and other hybrid processes, makes up the remaining 5% of the market. These methods cater to niche applications requiring custom performance characteristics.
Advanced Composites Market, Segmentation by End-Use Industry
The Advanced Composites Market has been segmented by End-Use Industry into Aerospace & Defense, Wind Energy, Transportation, Sporting Goods, Pipes & Tanks, Marine, Civil Engineering, Electrical & Electronics, Medical, and Others.
Aerospace & Defense
Aerospace and defense lead the advanced composites market, accounting for approximately 35% of total demand. These composites provide lightweight, high-strength solutions for aircraft structures, military vehicles, and protective gear.
Wind Energy
Wind energy represents around 15% of market share. Advanced composites offer durability and fatigue resistance in wind turbine blades and structural components.
Transportation
Transportation contributes approximately 15% of the market. These composites enhance fuel efficiency and structural performance in automotive, rail, and public transit applications.
Sporting Goods
Sporting goods account for around 10% of market share. Advanced composites provide lightweight, high-performance materials for bicycles, tennis rackets, and golf clubs.
Pipes & Tanks
Pipes and tanks represent about 10% of market demand. These composites offer corrosion resistance and mechanical strength in oil & gas, chemical processing, and water treatment systems.
Marine
Marine applications contribute approximately 5% of the market. Advanced composites deliver lightweight structures and resistance to saltwater corrosion for boat hulls and marine equipment.
Civil Engineering
Civil engineering holds around 5% of market share. These composites are used in bridge construction, reinforcement applications, and infrastructure projects requiring high durability.
Electrical & Electronics
Electrical and electronics applications represent about 3% of the market. Advanced composites are used in circuit boards, enclosures, and electromagnetic shielding components.
Medical
Medical applications account for approximately 1% of the market. Advanced composites are used in prosthetics, diagnostic equipment, and implantable devices due to their biocompatibility and durability.
Others
The others category, including consumer products and industrial tools, makes up the remaining 1% of the market. These applications leverage composites for lightweight and high-strength properties.
Advanced Composites Market, Segmentation by Geography
In this report, the Advanced Composites Market has been segmented by Geography into five regions; North America, Europe, Asia Pacific, Middle East and Africa and Latin America.
Regions and Countries Analyzed in this Report
Advanced Composites Market Share (%), by Geographical Region
North America
North America accounts for approximately 30% of the advanced composites market. The region’s growth is driven by strong demand in aerospace, automotive, and defense sectors, alongside technological advancements and investments in composite manufacturing.
Europe
Europe represents around 25% of market share. The region benefits from a focus on sustainability and lightweight materials in automotive and renewable energy applications, including wind energy and infrastructure.
Asia Pacific
Asia Pacific leads the global market, contributing nearly 35% of total revenue. Rapid industrialization, expansion in aerospace and automotive sectors, and rising demand from electronics and construction industries in countries such as China, India, and Japan fuel growth.
Middle East and Africa
Middle East and Africa account for about 5% of the market. Increased investments in infrastructure and energy sectors are boosting demand for advanced composites in the region.
Latin America
Latin America holds the remaining 5% of market share. Growth is supported by expansion in automotive, wind energy, and consumer goods industries across the region.
Market Trends
This report provides an in depth analysis of various factors that impact the dynamics of Global Advanced Composites Market. These factors include; Market Drivers, Restraints and Opportunities Analysis.
Drivers, Restraints and Opportunities Analysis
Drivers:
- Aerospace Sector Demand
- Automotive Lightweighting Initiatives
-
Renewable Energy Expansion-The expansion of renewable energy sources, particularly in the wind energy sector, presents a significant growth opportunity for the global advanced composites market. Wind turbine blades, essential components of wind turbines, require materials that are lightweight, durable, and resistant to harsh environmental conditions. Advanced composites, with their superior mechanical properties and corrosion resistance, have emerged as the material of choice for manufacturing these blades. As the global push for renewable energy intensifies, the demand for wind turbines continues to rise, driving the need for advanced composites in the renewable energy sector.Moreover, the development of offshore wind farms, where turbines are subjected to even more extreme conditions, further amplifies the demand for advanced composites. Offshore wind turbines operate in harsh marine environments, requiring materials that can withstand corrosion, fatigue, and saltwater exposure.
Advanced composites offer excellent corrosion resistance and durability, making them well-suited for offshore applications. As countries around the world invest in offshore wind energy projects to meet their renewable energy targets, the market for advanced composites is expected to experience significant growth.Furthermore, beyond wind energy, advanced composites are also finding applications in other renewable energy sectors such as solar power. Composites are used in the construction of solar panels and support structures due to their lightweight nature and ability to withstand environmental stressors. As the solar energy industry continues to expand, driven by decreasing costs and increasing efficiency of solar technologies, the demand for advanced composites in this sector is poised to grow. Overall, the renewable energy expansion presents a promising opportunity for the global advanced composites market, driving innovation and growth in the years to come.
Restraints:
- High Production Costs
- Recycling and Disposal Challenges
-
Regulatory Hurdles-Regulatory hurdles pose a significant challenge to the global advanced composites market, impacting various aspects of production, distribution, and usage. One of the primary regulatory challenges is compliance with stringent environmental and safety standards. Advanced composites often involve complex manufacturing processes and the use of chemicals that may raise concerns regarding worker safety and environmental impact. Meeting regulatory requirements necessitates substantial investments in research and development to develop safer manufacturing methods and materials.Moreover, the global trade landscape presents regulatory challenges for the advanced composites market, particularly in terms of tariffs and trade restrictions. Trade disputes and geopolitical tensions can disrupt supply chains and increase costs for manufacturers, affecting market dynamics and profitability.
Navigating these regulatory complexities requires strategic planning and adaptability to mitigate potential risks and ensure smooth operations across borders.Additionally, regulatory frameworks related to intellectual property rights and technology transfer pose challenges for market participants. Protecting intellectual property is crucial for companies investing in research and development to innovate new composite materials and manufacturing processes. However, navigating patent laws and ensuring compliance with licensing agreements can be complex and time-consuming, hindering the pace of innovation and market growth. Overcoming these regulatory hurdles requires collaboration between industry stakeholders, policymakers, and regulatory authorities to develop transparent and equitable frameworks that foster innovation while ensuring safety, environmental sustainability, and fair market competition.
Opportunities:
- Technological Advancements
- Emerging Applications in Infrastructure
-
Growing Investment in Research & Development-The growing investment in research and development (R&D) is a pivotal driver propelling the advancement and expansion of the global advanced composites market. Companies across industries are increasingly allocating resources to R&D activities to develop innovative composite materials, manufacturing techniques, and applications. These investments aim to enhance the performance, durability, and cost-effectiveness of advanced composites, catering to diverse industry needs and driving market growth.With R&D playing a crucial role in driving technological advancements, companies are collaborating with research institutions, universities, and government agencies to explore new materials and processes, fostering a culture of innovation in the advanced composites sector.Furthermore, the increasing focus on sustainability and environmental stewardship is driving investment in R&D for eco-friendly composite materials.
As industries seek to reduce their carbon footprint and minimize environmental impact, there is a growing demand for sustainable alternatives to traditional materials. R&D efforts are directed towards developing bio-based composites, recycled materials, and green manufacturing processes that offer comparable performance while reducing reliance on finite resources and mitigating environmental harm.These investments not only address regulatory requirements but also align with consumer preferences for eco-conscious products, driving market competitiveness and long-term sustainability.Moreover, the rapid pace of technological innovation is fueling investments in R&D to explore emerging applications and market opportunities for advanced composites. Industries such as aerospace, automotive, renewable energy, and infrastructure are increasingly integrating advanced composites into their products and processes to capitalize on their unique properties and benefits. With advancements in additive manufacturing, automation, and digital design tools, R&D efforts are focused on unlocking new capabilities and optimizing production processes to meet evolving industry demands. As companies continue to invest in R&D to push the boundaries of what is possible with advanced composites, the market is poised for dynamic growth and transformation in the coming years.
Competitive Landscape Analysis
Key players in Global Advanced Composites Market include:
- Toray Industries, Inc.
- Recent Developments
- Teijin Limited
- Mitsubishi Chemical Holdings Corporation
- SGL Group
- Koninklijke Ten Cate BV.
- Huntsman International, LLC.
- Solvay
- Hexcel Corporation
- Hexion
- E. I. Du Pont Nemours & Co.
- Owens Corning
In this report, the profile of each market player provides following information:
- Company Overview and Product Portfolio
- Key Developments
- Financial Overview
- Strategies
- Company SWOT Analysis
- Introduction
- Research Objectives and Assumptions
- Research Methodology
- Abbreviations
- Market Definition & Study Scope
- Executive Summary
- Market Snapshot, By Fiber Type
- Market Snapshot, By Resin Type
- Market Snapshot, By Manufacturing Process
- Market Snapshot, By End-Use Industry
- Market Snapshot, By Region
- Advanced Composites Market Dynamics
- Drivers, Restraints and Opportunities
- Drivers
- Aerospace Sector Demand
- Automotive Lightweighting Initiatives
- Renewable Energy Expansion
- Restraints
- High Production Costs
- Recycling and Disposal Challenges
- Regulatory Hurdles
- Opportunities
- Technological Advancements
- Emerging Applications in Infrastructure
- Growing Investment in Research & Development
- Drivers
- PEST Analysis
- Political Analysis
- Economic Analysis
- Social Analysis
- Technological Analysis
- Porter's Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of Substitutes
- Threat of New Entrants
- Competitive Rivalry
- Drivers, Restraints and Opportunities
- Market Segmentation
- Advanced Composites Market, By Fiber Type, 2021 - 2031 (USD Million)
- Carbon Fiber Composites
- Aramid Fiber Composites
- S-Glass Composites
- Other Composites
- Advanced Composites Market, By Resin Type, 2021 - 2031 (USD Million)
- Advanced Thermoplastic Composites
- Advanced Thermosetting Composites
- Advanced Composites Market, By Manufacturing Process, 2021 - 2031 (USD Million)
- AFP/ATL
- Compression Molding Process
- Hand Layup/Spray Layup Process
- Resin Transfer Molding Process
- Filament Winding Process
- Injection Molding Process
- Pultrusion Process
- Others
- Advanced Composites Market, By End-Use Industry, 2021 - 2031 (USD Million)
- Aerospace & Defense
- Wind Energy
- Transportation
- Sporting Goods
- Pipes & Tanks
- Marine
- Civil Engineering
- Electrical & Electronics
- Medical
- Others
- Advanced Composites Market, By Geography, 2021 - 2031 (USD Million)
- North America
- United States
- Canada
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Nordic
- Benelux
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia & New Zealand
- South Korea
- ASEAN(Association of South East Asian Countries)
- Rest of Asia Pacific
- Middle East & Africa
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- North America
- Advanced Composites Market, By Fiber Type, 2021 - 2031 (USD Million)
- Competitive Landscape
- Company Profiles
- Toray Industries, Inc.
- Recent Developments
- Teijin Limited
- Mitsubishi Chemical Holdings Corporation
- SGL Group
- Koninklijke Ten Cate BV.
- Huntsman International, LLC.
- Solvay
- Hexcel Corporation
- Hexion
- E. I. Du Pont Nemours & Co.
- Owens Corning
- Company Profiles
- Analyst Views
- Future Outlook of the Market