Composite Materials Market

• In February 2024 - Owens Corning acquired USD 3.9 billion of Masonite. This acquisition would strengthen the company's position in building and construction materials and the glass reinforcement business within its Composites segment.
• In June 2023 - Solvay is collaborating with Spirit AeroSystems. Both companies will engage in composite development. This merger would lead to collaborative research into sustainable aircraft technologies and processes with Spirit’s industrial, academic, and supply-chain partners.

In this report, the Composite Material Market has been segmented by Resin, Coating, Fiber Type, Adhesives, End-user Industry, and Geography.

Composite Material Market, Segmentation by Resin

The Composite Material Market is segmented by Resin into Thermoset Resin and Thermoplastic Resin.

Thermoset Resin

The Thermoset Resin segment holds around 60% of the global composite material market. These resins are highly valued for their mechanical strength, thermal stability, and chemical resistance, making them ideal for automotive, aerospace, and industrial applications.

Thermoplastic Resin

Thermoplastic Resin accounts for approximately 40% of the market and is increasingly preferred for recyclable composites and lightweight construction. Its flexibility, impact resistance, and ease of processing support growing demand across consumer goods and transportation sectors.

Composite Material Market, Segmentation by Coating

The Composite Material Market is segmented by coating into Gel Coat and Surface Veil.

Gel Coat

The Gel Coat segment represents nearly 55% of the Composite Material Market. It is prized for its high-quality surface finish, weather resistance, and durability, making it essential in marine, automotive, and aerospace applications.

Surface Veil

Surface Veil accounts for about 45% of the market and is used primarily for reinforcement and improved surface protection in composite materials. Its enhanced mechanical properties and chemical resistance make it suitable for industrial and construction applications.

Composite Material Market, Segmentation by Fiber Type

The Composite Material Market is segmented by fiber type into Glass Fiber, Carbon Fiber, Aramid Fiber and Others.

Glass Fiber

This segment holds a dominant 60% share of the Composite Material Market. Its high tensile strength, lightweight properties, and corrosion resistance make it ideal for automotive, construction, and aerospace applications.

Carbon Fiber

Accounting for around 25% of the market, it is valued for its exceptional stiffness and high strength-to-weight ratio. It is extensively used in aerospace, sports equipment, and high-performance vehicles.

Aramid Fiber

Representing roughly 10% of the market, this fiber is known for its impact resistance and heat tolerance. Major applications include defense, protective gear, and industrial machinery.

Others

Contributing about 5% of the market, this category includes Boron, Natural, and Hybrid fibers. These fibers are chosen for specialty applications requiring custom mechanical and thermal properties.

Composite Material Market, Segmentation by Adhesives

The Composite Material Market is segmented by Adhesives into Epoxies, Bismaleimide, Cyanate Ester, Modified Acrylics, Polyurethanes and Silicones.

Epoxies

Epoxies dominate the adhesive segment with an estimated 40% market share due to their high mechanical strength, excellent chemical resistance, and superior adhesion. They are widely used in aerospace, automotive, and construction applications.

Bismaleimide

Representing around 15% of the market, bismaleimide adhesives are valued for their high temperature resistance and structural integrity. Key industries include aerospace, electronics, and industrial components.

Cyanate Ester

Holding about 10% of the market, cyanate ester adhesives are known for their low moisture absorption, dimensional stability, and thermal performance. They are mainly applied in electronics, aerospace, and defense sectors.

Modified Acrylics

Making up nearly 12% of the market, modified acrylics offer fast curing and strong impact resistance. They are commonly used in automotive assembly, construction bonding, and structural applications.

Polyurethanes

Accounting for approximately 18% of the market, polyurethane adhesives provide flexibility, excellent durability, and chemical resistance. Their applications include footwear, automotive, and packaging.

Silicones

Constituting around 5% of the market, silicone adhesives are prized for their heat and weather resistance, elasticity, and electrical insulation. They are widely used in electronics, construction, and automotive sealing.

Composite Material Market, Segmentation by End-user Industry

The Composite Material Market is segmented by End-user Industry into Construction, Transportation, Electronics & Electrical, Healthcare, Power Generation, Industrial, Aerospace & Defense, Marine and Others.

Construction

The construction sector represents about 25% of the market, driven by the use of lightweight composite materials, high-strength panels, and durable structural components in residential and commercial buildings.

Transportation

Transportation accounts for nearly 20% of the market, as carbon fiber composites and glass fiber components enhance fuel efficiency and vehicle safety in automobiles, railways, and commercial vehicles.

Electronics & Electrical

Comprising about 12% of the market, this segment leverages high-performance composites for insulation, thermal management, and durable casings in consumer electronics and electrical equipment.

Healthcare

The healthcare segment, holding around 8% market share, uses biocompatible composites and lightweight materials in prosthetics, medical devices, and hospital equipment.

Power Generation

Making up nearly 7% of the market, power generation relies on high-strength composites for turbine blades, insulation materials, and energy-efficient components in wind, solar, and conventional power plants.

Industrial

Industrial applications account for approximately 10% of the market, utilizing durable composite materials, corrosion-resistant panels, and high-performance adhesives for machinery, tooling, and manufacturing equipment.

Aerospace & Defense

Representing around 10% of the market, aerospace and defense employ lightweight carbon fiber, high-strength laminates, and temperature-resistant composites for aircraft, satellites, and defense equipment.

Marine

Marine applications, holding roughly 5% of the market, depend on corrosion-resistant composites, lightweight panels, and reinforced materials for boats, ships, and offshore structures.

Others

The remaining 3% includes niche industries such as sports, packaging, and specialty products, which benefit from innovative composites and customized material solutions.

Composite Material Market, Segmentation by Geography

In this report, the Composite Material Market has been segmented by Geography into five regions; North America, Europe, Asia Pacific, Middle East & Africa and Latin America.

Composite Material Market Share (%), by Geographical Region

North America

North America holds approximately 30% of the global composite material market, fueled by advanced manufacturing, aerospace innovations, and automotive applications. The region benefits from a strong focus on lightweight materials and high-performance composites in both industrial and residential sectors.

Europe

Europe accounts for around 25% of the market, driven by stringent environmental regulations and automotive and construction innovations. The adoption of recyclable composites and energy-efficient materials is growing rapidly across the region.

Asia Pacific

Asia Pacific represents nearly 35% of the market, led by rapid industrialization, urban infrastructure development, and transportation sector growth. Countries like China and India are investing heavily in advanced composites for automotive, construction, and electronics applications.

Middle East & Africa

This region holds about 5% of the market, with growth primarily driven by oil & gas infrastructure and construction projects. The increasing adoption of lightweight and corrosion-resistant materials is supporting market expansion.

Latin America

Latin America contributes approximately 5% to the global market, with key drivers including construction activities, transportation projects, and rising demand for durable and cost-effective composite solutions. Brazil and Mexico are leading regional adoption.