This report is designed for companies and decision-makers seeking actionable insights on market size, growth, trends, and competitive strategies to drive expansion and success in the Composites industry._x000D_
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How has the composites market size changed in recent years, and what is the outlook ahead?_x000D_
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._x000D_
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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 10.0%. 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._x000D_
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What are the top economic and technological drivers pushing composites market growth?_x000D_
Growth in the automotive and aerospace sectors is expected to propel the growth of the composites market. In the automotive and aerospace industries, composites are used to provide improved performance, corrosion resistance, and fuel savings. For instance, in November 2022, according to the Aerospace Industries Association (AIA), a US-based trade association for makers and distributors of civil, military, and business aircraft, helicopters, unmanned aerial vehicles (UAVs), space systems, and aircraft, exports from the A&D business increased by 11.2 % to an overall value of $100. 4 billion in 2022.Also, according to IBEF, Indian automobile exports stood at 1,419,430 units from April 2021 to June 2021 as compared to 436,500 units from previous year same period. Therefore, the growth in the automotive and aerospace sectors is driving the growth of the composites market._x000D_
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How is the composites market segmented by product, application, and end-user?_x000D_
The composites market covered in this report is segmented –_x000D_
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1) By Product: Carbon Fiber, Glass Fiber_x000D_
2) By Manufacturing Process: Layup Process, Filament Winding Process, Injection Molding Process, Pultrusion Process, Compression Molding Process, Resin Transfer Molding Process, Other Processes_x000D_
3) By Resin Type: Thermoset Composites, Thermoplastic Composites_x000D_
4) By End-Use Industry: Aerospace and defense, Wind Energy, Automotive and Transportation, Construction & Infrastructure, Marine, Pipe and Tank, Electrical and Electronics, Other End-Users_x000D_
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Subsegments:_x000D_
1) By Carbon Fiber: Prepreg Carbon Fiber, Continuous Carbon Fiber, Short Carbon Fiber_x000D_
2) By Glass Fiber: E-Glass Fiber, S-Glass Fiber, C-Glass Fiber_x000D_
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What evolving trends are creating new opportunities in the composites market?_x000D_
Major companies operating in the composites market are focusing on technological advancements, such as lightweight and high-strength composite materials, to cater to industries like aerospace, automotive, and renewable energy. HexForce 1K woven reinforcement fabric is a high-performance composite material designed for enhanced strength and durability, typically used in various industrial applications such as aerospace and automotive sectors. For instance, in September 2024, Hexcel Corporation, a US-based manufacturer of reinforcement products, composite materials, and engineered products, launch of its new HexForce 1K woven reinforcement fabric. This lightweight fabric leverages the Hexcel proprietary HexTow AS4C 1K carbon fiber, enabling the production of high-strength, low-weight composite materials. These fabrics are well-suited for various industrial applications, such as golf shafts, hockey sticks, and automotive components._x000D_
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Which leading companies are dominating the composites market landscape?_x000D_
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_x000D_
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Which geographic areas are expected to offer the highest growth opportunities in thecomposites market?_x000D_
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_x000D_
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How Can Companies Use The Composites Market Report to Drive Business Results?_x000D_
This report provides actionable insights tailored for business use—not academic analysis. Companies can leverage the data to:_x000D_
• Time market entry or expansion using growth forecasts and CAGR trends._x000D_
• Develop competitive products by tracking key technology shifts and user preferences._x000D_
• Tailor regional strategies with in-depth geographic data and local market dynamics._x000D_
• Benchmark and plan partnerships using competitive landscape insights._x000D_
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