Global Composites Market Growth, Share, Size, Trends and Forecast (2025 - 2031)

• Dublin City Council has approved an economic development partnership with INEOS Composites, a company specializing in producing and distributing various grades of unsaturated polyester, vinyl ester resins, and gelcoats.

• In October 2023, Gurit announced signing four-year and three-year supply agreements for core material kits with two leading Wind Turbine Original Equipment Manufacturers (OEMs).

• Owens Corning, in October 2022, announced a $24.5 million investment in machinery and new construction at its new manufacturing facility in Fort Smith. This expansion is set to create 50 jobs. In early 2021, construction began on a 550,000-square-foot plant on Planter Road adjacent to Owens Corning's existing Fort Smith facility. The new plant will manufacture fiberglass composites, insulation, and roofing materials.

The global composites market encompasses a wide range of industries and applications, driven by the unique properties of composite materials that combine two or more materials to create a superior product. One of the key segments within this market is the automotive industry, where composites are increasingly used to reduce vehicle weight, improve fuel efficiency, and enhance safety. Components such as carbon fiber reinforced plastics (CFRP) are employed in high-performance vehicles for their strength-to-weight ratio and corrosion resistance. This segment is poised for significant growth as automakers strive to meet stringent emissions regulations and consumer demand for more sustainable vehicles.

Another prominent segment is the aerospace industry, which utilizes composites extensively in aircraft manufacturing. Materials like fiberglass, aramid fiber, and carbon fiber composites are preferred for their ability to withstand extreme conditions, including high temperatures and pressure changes. Composites enable aircraft to achieve greater fuel efficiency and structural integrity, contributing to reduced operational costs and enhanced performance. As the aerospace sector continues to expand globally, driven by rising air travel demand and fleet modernization efforts, the demand for advanced composite materials is expected to escalate.

In the construction sector, composites play a crucial role in infrastructure projects due to their durability, weather resistance, and design flexibility. Applications range from bridges and buildings to pipelines and offshore structures, where composites offer advantages such as corrosion resistance and ease of installation. The adoption of composites in construction is driven by the need for sustainable building materials that reduce maintenance costs and extend the lifespan of infrastructure. As urbanization accelerates and governments invest in infrastructure development, the construction segment of the composites market is poised for steady growth.

The wind energy sector represents a significant growth area for composites, particularly in the manufacturing of wind turbine blades. Composites such as fiberglass and carbon fiber are used to create lightweight yet durable blades that maximize energy capture efficiency. With the global shift towards renewable energy sources, wind power installations are expanding rapidly, driving demand for composite materials. This segment benefits from ongoing technological advancements that enhance blade performance and reduce overall lifecycle costs, making composites a preferred choice in the renewable energy landscape.

Global Composites Segment Analysis

In this report, the Global Composites Market has been segmented by Fiber Type, Resin Type, Manufacturing Process, End-Use Industry and Geography.

Global Composites Market, Segmentation by Fiber Type

The Global Composites Market has been segmented by Fiber Type into Glass Fiber Composites, Carbon Fiber Composites, Natural Fiber Composites and Others.

Glass fiber composites are widely used due to their excellent mechanical properties, affordability, and versatility across various industries. These composites find extensive application in automotive, aerospace, construction, and marine sectors, where their lightweight nature and high strength-to-weight ratio are advantageous. The demand for glass fiber composites is bolstered by increasing construction activities and the automotive industry's shift towards lightweight materials to enhance fuel efficiency.

Carbon fiber composites represent another significant segment known for their exceptional strength and stiffness. They are extensively used in high-performance applications such as aerospace, sports equipment, automotive components, and wind turbine blades. The demand for carbon fiber composites is driven by their superior mechanical properties, including high tensile strength and low weight, which contribute to improved performance and fuel efficiency in various end-use industries. The increasing adoption of carbon fiber composites in electric vehicles (EVs) and aircraft manufacturing is further propelling market growth.

Natural fiber composites, derived from materials like jute, hemp, and flax, are gaining traction due to their sustainability and environmental benefits. These composites are biodegradable, renewable, and offer good mechanical properties suitable for automotive interiors, construction materials, and consumer goods. The growing emphasis on eco-friendly products and sustainable manufacturing practices is driving the demand for natural fiber composites across diverse applications.

The others category includes a range of composite materials such as aramid fiber composites, metal matrix composites, and ceramic matrix composites, each catering to specific industrial needs. Aramid fiber composites, known for their high strength, heat resistance, and abrasion resistance, find applications in ballistic protection, aerospace, and automotive industries. Metal matrix composites are valued for their thermal conductivity and lightweight properties, suitable for applications in electronics, automotive components, and aerospace. Ceramic matrix composites exhibit excellent thermal and mechanical properties, making them ideal for high-temperature applications in aerospace, defense, and energy sectors.

Global Composites Market, Segmentation by Resin Type

The Global Composites Market has been segmented by Resin Type into Thermoset Composites and Thermoplastic Composites.

Thermoset composites are a significant segment within the market, characterized by their cross-linked molecular structure that hardens irreversibly upon curing. This category includes materials such as polyester, epoxy, vinyl ester, and phenolic resins. These composites are widely utilized in various industries due to their excellent mechanical properties, corrosion resistance, and dimensional stability. Applications range from aerospace and automotive components to construction materials and consumer goods.

Thermoplastic composites, on the other hand, are gaining prominence due to their unique properties and recyclability. Unlike thermosets, thermoplastic composites can be repeatedly melted and reformed without significant degradation in mechanical properties. This category includes resins such as polypropylene (PP), polyethylene (PE), polyamide (PA), and polyetheretherketone (PEEK). They are favored in industries requiring lightweight and high-strength materials, such as automotive manufacturing for structural components, aerospace for interior panels, and consumer electronics for casing materials.

Global Composites Market, Segmentation by Manufacturing Process

The Global Composites Market has been segmented by Manufacturing Process into Lay-Up Process, Filament Winding Process, Injection Molding Process, Pultrusion Process, Compression Molding Process, Resin Transfer Molding (RTM) Process and Others.

One of the prominent methods is the lay-up process, which involves manually placing reinforcing fibers in a mold and then impregnating them with resin. This method is flexible and suitable for producing large structures with varying fiber orientations, making it ideal for applications in aerospace, automotive, and construction industries where custom designs and complex shapes are required.

Another significant manufacturing process is filament winding, which involves winding continuous fibers around a rotating mandrel to create composite parts. This method is highly automated and offers excellent strength-to-weight ratios, making it particularly suitable for pressure vessels, pipes, and structural components in sectors such as marine, oil and gas, and aerospace.

The injection molding process is widely used for producing complex, high-volume parts by injecting a polymer resin into a mold containing reinforcing fibers. It ensures precise control over part dimensions and offers fast production cycles, making it valuable in industries such as automotive, electronics, and consumer goods.

Pultrusion is a continuous manufacturing process where fibers (typically glass or carbon) are pulled through a resin bath and then shaped and cured in a heated die. This method produces constant cross-sectional profiles with high fiber volume fractions, providing excellent strength and stiffness. It finds applications in construction, infrastructure, and automotive industries.

The compression molding process involves placing dry fiber reinforcements into an open mold cavity and then closing the mold under heat and pressure to cure the resin. It is cost-effective for medium to large production runs and is used extensively in automotive, aerospace interiors, and electrical components.

Resin Transfer Molding (RTM) is a closed-mold process where resin is injected into a closed mold cavity containing dry fiber reinforcements. It offers good surface finish and dimensional stability, suitable for applications in automotive parts, marine components, and sports equipment.

Other manufacturing processes in the composites market include vacuum bag molding, automated tape laying, and infusion molding, each catering to specific needs such as complex geometries, high production rates, or enhanced mechanical properties. These processes collectively contribute to the versatility and widespread adoption of composites across various industries, driven by continuous advancements in material science and manufacturing technologies.

Global Composites Market, Segmentation by End-Use Industry

The Global Composites Market has been segmented by End-Use Industry into Transportation, Aerospace & Defense, Wind Energy, Construction & Infrastructure, Pipe & Tank, Marine, Electrical & Electronics and Others.

One of the key sectors driving the demand for composites is the transportation industry. Composites find extensive use in automotive and rail applications due to their lightweight nature, high strength-to-weight ratio, and corrosion resistance. These properties help in improving fuel efficiency, reducing emissions, and enhancing overall vehicle performance. The automotive sector, in particular, is witnessing increasing adoption of composites in body panels, interiors, and structural components, driven by stringent regulatory standards and consumer demand for lighter and more fuel-efficient vehicles.

Aerospace and defense industries are also significant consumers of composite materials. In aerospace, composites are preferred for their ability to withstand high temperatures, fatigue resistance, and structural integrity. They are used extensively in aircraft components such as fuselages, wings, and interior structures. The defense sector similarly benefits from composites' lightweight properties and durability, which contribute to enhanced maneuverability, reduced fuel consumption, and improved stealth capabilities in military applications.

Another burgeoning sector for composites is wind energy. Composites play a crucial role in the manufacturing of wind turbine blades, where their strength, stiffness, and fatigue resistance are essential for maximizing energy generation efficiency and durability. As the demand for renewable energy sources continues to grow, so does the need for advanced composite materials in wind turbines.

In the construction and infrastructure sectors, composites are increasingly being adopted for their corrosion resistance, high strength, and design flexibility. They find applications in bridges, buildings, pipelines, and reinforcement materials, offering durability and sustainability advantages over traditional materials.

Other notable sectors utilizing composites include marine, electrical and electronics, pipe and tank manufacturing, and various industrial applications. In marine applications, composites are valued for their resistance to water degradation and low maintenance requirements, making them ideal for boat hulls, decks, and other marine structures. In the electrical and electronics industry, composites are used for insulating materials and components where lightweight, thermal stability, and electrical insulation properties are crucial.

Global Composites Market, Segmentation by Geography

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

Global Composites Market Share (%), by Geographical Region, 2024

North America holds a prominent share in the market. This dominance is attributed to the robust aerospace and defense sector in the region, which extensively utilizes composites for lightweight and high-strength applications. Additionally, the automotive industry's increasing adoption of composites to enhance fuel efficiency and reduce vehicle weight further bolsters market growth in North America.

In Europe, the composites market is characterized by strong demand from the automotive and construction sectors. Stringent regulations promoting lightweight and sustainable construction practices are driving the adoption of composites in building materials. Moreover, the region's focus on renewable energy projects, such as wind turbines, contributes to the market's expansion. These factors collectively position Europe as a key market for composites, emphasizing innovation and environmental sustainability.

The Asia Pacific region is witnessing rapid growth in the composites market, fueled by robust industrialization, urbanization, and infrastructure development. Countries like China, Japan, and India are major contributors to this growth, with significant investments in automotive manufacturing, aerospace, and wind energy sectors. The region's burgeoning middle class is also driving demand for lightweight and durable consumer goods, further propelling the market for composites in Asia Pacific.

In the Middle East and Africa (MEA), the composites market is evolving with increasing applications in the construction and oil & gas industries. The region's focus on infrastructure development, particularly in GCC countries, supports the demand for composites in architectural structures, pipelines, and offshore platforms. Moreover, initiatives toward sustainable energy solutions are driving the adoption of composites in renewable energy projects across MEA.

Latin America presents opportunities for growth in the composites market, driven by expanding industrial sectors and infrastructure projects. Brazil, in particular, leads the region's market due to its strong presence in automotive manufacturing and aerospace industries. The region's rich natural resources also contribute to the production of raw materials used in composites, supporting local manufacturing capabilities and market expansion efforts.

This report provides an in depth analysis of various factors that impact the dynamics of Global Composites Market. These factors include; Market Drivers, Restraints and Opportunities Analysis.

Drivers

• Lightweighting in automotive industry
• Increasing use in aerospace applications
• Demand for corrosion-resistant materials

• Growth in wind energy sector: The global composites market is experiencing significant growth, driven in part by the expanding wind energy sector. Composites, such as fiberglass and carbon fiber reinforced polymers (CFRP), play a crucial role in wind turbine construction due to their lightweight nature, high strength-to-weight ratio, and resistance to corrosion. As the demand for renewable energy sources escalates worldwide, wind power has emerged as a key contributor, further boosting the demand for composites.

  In wind energy applications, composites are primarily used in the manufacturing of wind turbine blades. These blades must withstand harsh environmental conditions while maximizing energy output. Composites offer the advantage of being able to be molded into complex shapes, allowing for aerodynamic designs that enhance turbine efficiency. Moreover, their durability and resistance to fatigue make composites ideal for ensuring the long-term reliability of wind turbines, thereby reducing maintenance costs and extending operational lifespans.

  Market dynamics indicate a growing preference for composites over traditional materials like steel in wind turbine blade production. This shift is driven by the need for larger and more efficient turbines capable of harnessing stronger winds at higher altitudes. Manufacturers are investing in research and development to innovate composite materials that offer superior performance characteristics, including enhanced stiffness and reduced weight, crucial for optimizing turbine performance and reducing overall installation and operational costs.

Restraints

• High raw material costs
• Complexity in recycling composites
• Regulatory challenges in applications

• Limited fire retardancy in some: The global composites market has witnessed significant growth across various industries due to their lightweight, high-strength properties, and versatility. However, a notable concern in the use of composites, particularly in sectors requiring stringent fire safety standards such as aerospace, construction, and automotive industries, is their limited fire retardancy. This issue stems from the inherent flammability of some composite materials, which can pose safety risks and regulatory challenges if not properly addressed.

  In aerospace applications, where composites are extensively used to reduce weight and enhance fuel efficiency, ensuring fire safety is paramount. While advanced resin systems and additives can improve fire resistance, achieving adequate fire retardancy without compromising other desirable properties like weight and durability remains a challenge. Composite materials used in aircraft interiors, for instance, must adhere to stringent fire safety regulations to mitigate the risk of fire propagation and ensure passenger safety.

  In the construction industry, composites are increasingly favored for their durability and design flexibility. However, concerns about fire safety have led to the development of composite materials with enhanced fire-retardant properties. Intumescent coatings, fire-resistant additives, and modified resin systems are among the strategies employed to improve the fire performance of composites used in building facades, interior structures, and infrastructure projects. Despite these advancements, balancing fire safety requirements with cost-effectiveness and sustainability remains a critical consideration for architects, developers, and regulatory bodies.

Opportunities

• Advancements in nanocomposites technology
• Expansion in construction applications
• Rise in renewable energy projects

• Development of bio-based composites: Bio-based composites are gaining significant traction in the global composites market due to their eco-friendly properties and sustainability benefits. These composites utilize natural fibers such as hemp, flax, jute, and kenaf, combined with bio-based resins derived from renewable sources like soybean oil, starch, or recycled polymers. The development of bio-based composites addresses growing environmental concerns, offering reduced carbon footprint compared to traditional petroleum-based counterparts. This shift aligns with global initiatives towards sustainability, driving industries to adopt greener materials across various applications.

  In terms of market development, the bio-based composites sector is witnessing substantial investment and innovation. Manufacturers are increasingly focusing on enhancing the mechanical properties and durability of bio-based materials to expand their applicability in industries such as automotive, construction, aerospace, and consumer goods. Research and development efforts are directed towards optimizing the manufacturing processes and improving composite formulations to meet stringent performance standards. This ongoing evolution is supported by collaborations between academic institutions, research organizations, and industry players, fostering technological advancements and scalability in bio-based composite production.

  The market outlook for bio-based composites is promising, driven by regulatory support promoting sustainable practices and rising consumer demand for environmentally friendly products. Governments worldwide are incentivizing the adoption of bio-based materials through policies and funding initiatives aimed at reducing dependence on fossil fuels and mitigating environmental impact. As awareness grows regarding the benefits of bio-based composites, their integration into mainstream manufacturing processes is expected to accelerate, offering a viable solution for achieving long-term sustainability goals while maintaining product performance and cost competitiveness in the global composites market.

Key players in Global Composites Market include:

• Toray Industries
• Owens Corning
• Hexcel Corporation
• Teijin Limited
• Solvay S.A
• Mitsubishi Chemical Corporation
• SGL Carbon SE
• Gurit Holding AG
• Huntsman Corporation
• AOC Resins

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