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What are the latest figures on the polymer matrix composites market’s size and projected CAGR?
The polymer matrix composites market size has grown strongly in recent years. It will grow from $18.49 billion in 2024 to $20.29 billion in 2025 at a compound annual growth rate (CAGR) of 9.7%. The growth in the historic period can be attributed to increasing focus on fuel efficiency, increasing demand for electric vehicles (EVS), increasing interest in durable and low-maintenance construction, increasing consumer electronics and sports equipment, and increasing demand for advanced materials in defense applications.
The polymer matrix composites market size is expected to see strong growth in the next few years. It will grow to $29 billion in 2029 at a compound annual growth rate (CAGR) of 9.3%. The growth in the forecast period can be attributed to marine industry developments, globalization of industries, regulatory and safety standards, infrastructure modernization, and growth in educational programs. Major trends in the forecast period include enhanced simulation and modeling, development of advanced resin systems, advances in computational tools, incorporation of the internet of things (IoT), and dynamic load management.
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Which Market drivers have played a significant role in driving the polymer matrix composites market?
The rise in the aerospace industry is expected to propel the growth of the polymer matrix composites market going forward. The aerospace industry refers to the economy sector focused on developing, producing, and maintaining aircraft, spacecraft, and related systems and equipment. The rise in the aerospace industry is due to advancements in technology, increasing demand for air travel and satellite services, and innovations in manufacturing and materials. Polymer matrix composites are helping the aerospace industry by providing lightweight, high-strength materials that improve fuel efficiency, enhance performance, and create more complex and durable aerospace structures. For instance in January 2023, according to Airbus SE, a Netherlands-based aerospace corporation, in 2022, aircraft deliveries increased by 8% compared to 611 deliveries in 2021, reaching a total of 661. Therefore, the rise in the aerospace industry is driving the growth of the polymer matrix composites market.
What are the key segments within the polymer matrix composites market?
The polymer matrix composites market covered in this report is segmented –
1) By Type: Polycarbonates; Polypropylenes; Polyamides; Acrylonitrile-Butadiene Styrenes
2) By Product: Glass Fiber Reinforced Polymers; Carbon Fiber Reinforced Polymers; Aramid Fiber Composites; Natural Fiber Composites
3) By End-User Industry: Aerospace; Sporting Equipment; Automotive; Defense; Healthcare; Construction; Shipbuilding; Electrical And Electronics Industry; Mechanical Manufacturing
Subsegments:
1) By Polycarbonates: Glass Fiber Reinforced Polycarbonates; Carbon Fiber Reinforced Polycarbonates; High-Impact Polycarbonate Composites; Flame Retardant Polycarbonates; Transparent Polycarbonate Composites
2) By Polypropylenes: Glass Fiber Reinforced Polypropylenes; Carbon Fiber Reinforced Polypropylenes; Impact-Modified Polypropylenes; High-Temperature Polypropylenes; Biodegradable Polypropylene Composites
3) By Polyamides: Glass Fiber Reinforced Polyamides; Carbon Fiber Reinforced Polyamides; High-Performance Polyamides; Flame Retardant Polyamides; Aromatic Polyamides
4) By Acrylonitrile-Butadiene Styrenes (ABS): Glass Fiber Reinforced ABS; Carbon Fiber Reinforced ABS; High-Impact ABS Composites; Flame Retardant ABS Composites; Transparent ABS Composites
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Which key players are shaping the polymer matrix composites market?
Major companies operating in the polymer matrix composites market areCompagnie de Saint-Gobain S.A., Saudi Basic Industries Corporation (SABIC), 3M Company, Michelin Group, Safran S.A., Toray Industries Inc., Solvay S.A., Sika AG, Lanxess AG, Syensqo SA, Teijin Limited, AMETEK Inc., GKN Aerospace Services Limited, Avient Corporation, Kraton Corporation, SGL Carbon SE, Kordsa Teknik Tekstil AS, Gurit Holding AG, Enduro Composites Inc, IntechOpen Inc.
Which key trends are expected to influence the polymer matrix composites market in the coming years?
Major companies operating in the polymer matrix composites market are developing advanced solutions, such as new short-glass fiber-filled PP compounds, to enhance performance for automotive structural applications. Short-glass fiber-filled PP compounds refer to a composite material made from polypropylene (PP) plastic reinforced with short glass fibers. For instance, in August 2022, Saudi Basic Industries Corporation (SABIC), a Saudi Arabia-based chemical manufacturing company, launched SABIC polypropylene (PP) compound G3430X grade with 30% short glass fiber and SABIC PP compound G3440X grade with 40% short glass fiber. It is designed for demanding automotive under-hood, exterior, and interior structural applications. It has unique features such as enhanced performance with superior mechanical properties, thin-wall capability for lightweight designs, high melt flow for easier processing, excellent balance of stiffness and impact resistance, and the potential for cost-effective alternatives to long-glass fiber PP in low-temperature applications, along with customizable color options to meet specific.
How do regional factors impact the polymer matrix composites market, and which region is the largest contributor?
North America was the largest region in the polymer matrix composites market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the polymer matrix composites market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Polymer Matrix Composites Market Report 2025 Offer?
The polymer matrix composites market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Polymer matrix composites (PMCs) refer to advanced materials composed of a polymer resin matrix reinforced with fibers or other filler materials to enhance their mechanical properties. Polymer matrix composites (PMCs) are utilized in aerospace engineering to produce lightweight, high-strength components that enhance fuel efficiency and the performance of aircraft.
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