Executive Summary: Composite Materials Market Size and Share by Application & Industry

Global composite materials market size was valued at USD 89.81 billion in 2024 and is projected to reach USD 144.23 billion by 2032, with a CAGR of 6.10% during the forecast period of 2025 to 2032.

In the leading Composite Materials Market report, industry trends have been described on the macro level, which makes it achievable to map market landscape and probable future issues. The report provides analysis and estimation of general market drivers in the form of consumer demand, government policy, and demand, which are connected with consumer buying patterns and thereby market growth and development. This market research report encompasses a thorough analysis of the market and abundant related factors that range from market drivers, market restraints, market segmentation, opportunities, challenges, and market revenues to competitive analysis. Composite Materials Market analysis report is also useful when launching a new product in the market or spreading out the business regionally or globally.

A skillful set of analysts, statisticians, research experts, forecasters, and economists work carefully to build Composite Materials Market research report for the businesses seeking prospective growth. This team concentrates on understanding client’s business and its needs so that the deluxe market research report is delivered to the client. The collected information and data is tested and verified by market experts before handing over it to the end user. An international Composite Materials Market report proves to be true in serving the purpose of businesses of making enhanced decisions, deal with marketing of goods or services, and achieve better profitability by prioritizing market goals.

Discover how the Composite Materials Market is changing with key trends and forecasts. Access the report:
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Comprehensive Overview of the Composite Materials Market

**Segments**

- By Resin Type: Thermosetting, Thermoplastic
- By Fiber Type: Glass Fiber, Carbon Fiber, Aramid Fiber, Others
- By Manufacturing Process: Layup, Filament Winding, Injection Molding, Pultrusion, Compression Molding, Resin Transfer Molding, Others
- By End-Use Industry: Aerospace & Defense, Automotive, Wind Energy, Construction, Sporting Goods, Electrical & Electronics, Marine, Others

The global composite materials market is segmented on the basis of resin type, fiber type, manufacturing process, and end-use industry. In terms of resin type, the market is divided into thermosetting and thermoplastic composites. Glass fiber, carbon fiber, aramid fiber, and other fiber types make up the fiber type segment. Various manufacturing processes like layup, filament winding, injection molding, and pultrusion are included in the market segmentation. Additionally, the end-use industry segment comprises aerospace & defense, automotive, wind energy, construction, sporting goods, electrical & electronics, marine, and others.

**Market Players**

- Hexcel Corporation
- Toray Industries, Inc.
- Teijin Limited
- SGL Carbon
- Solvay
- Owens Corning
- Mitsubishi Chemical Corporation
- Huntsman International LLC
- Gurit
- DuPont
- Royal DSM
- Koninklijke Ten Cate BV

The global composite materials market is highly competitive with the presence of several key players. Companies such as Hexcel Corporation, Toray Industries, Inc., Teijin Limited, SGL Carbon, Solvay, Owens Corning, Mitsubishi Chemical Corporation, Huntsman International LLC, Gurit, DuPont, Royal DSM, and Koninklijke Ten Cate BV are among the major players in the market. These companies are focusing on research and development activities, strategic partnerships, and expansions to strengthen their market position and meet the growing demand for composite materials across various industries.

The global composite materials market is witnessing growth due to various factors such as increasing demand from industries like aerospace & defense, automotive, wind energy, construction, and sporting goods among others. The market players mentioned, including Hexcel Corporation, Toray Industries, Teijin Limited, and SGL Carbon, among others, are investing heavily in research and development to enhance their product offerings and cater to evolving industry requirements. These companies are also focusing on strategic collaborations and mergers to expand their market reach and increase their customer base.

One emerging trend in the composite materials market is the increasing preference for carbon fiber composites owing to their lightweight properties and high strength-to-weight ratio. Carbon fiber is extensively used in the automotive and aerospace sectors due to its ability to contribute to fuel efficiency and reduce emissions. Additionally, the wind energy industry is a significant consumer of composite materials, particularly for manufacturing wind turbine blades. The construction industry is also leveraging composite materials for applications requiring high durability and corrosion resistance.

Another key driver for the composite materials market is the growing emphasis on sustainability and environmental concerns. Thermoplastic composites, in particular, are gaining traction due to their recyclability and reduced environmental impact compared to thermosetting composites. Manufacturers are increasingly focusing on developing sustainable composite materials that meet regulatory requirements and align with the global push towards eco-friendly practices.

In terms of market dynamics, the aerospace & defense sector is a major consumer of composite materials due to stringent regulations, lightweight requirements, and the need for high-performance materials. The automotive industry is also a significant contributor to the market growth, driven by the increasing adoption of composite materials for vehicle components to enhance fuel efficiency and reduce overall weight. Moreover, the sporting goods industry is embracing composite materials for the production of lightweight and durable sporting equipment such as bicycles, tennis rackets, and golf clubs.

Overall, the global composite materials market is poised for significant growth in the coming years, driven by technological advancements, increasing investments in research and development, and the expanding application scope across various end-use industries. With key players focusing on innovation and sustainability, the market is expected to witness further expansion and adoption of composite materials in diverse sectors, creating new opportunities and driving market competitiveness.The global composite materials market is experiencing robust growth driven by several key factors. One of the primary growth drivers is the increasing demand from various industries such as aerospace & defense, automotive, wind energy, construction, and sporting goods. These industries are increasingly turning to composite materials due to their lightweight properties, high strength-to-weight ratio, and superior performance characteristics. Companies such as Hexcel Corporation, Toray Industries, Teijin Limited, and SGL Carbon are at the forefront of this market, investing significantly in research and development to enhance their product offerings and meet the evolving industry requirements.

An emerging trend in the composite materials market is the rising preference for carbon fiber composites, particularly in the automotive and aerospace sectors. Carbon fiber's ability to improve fuel efficiency, reduce emissions, and provide structural durability has made it a popular choice in these industries. The wind energy sector is also a significant consumer of composite materials, especially for manufacturing wind turbine blades, showcasing the diverse applications of composites in the renewable energy sector. Moreover, the construction industry is leveraging composite materials for applications requiring high durability, corrosion resistance, and longevity, further driving market growth.

Sustainability and environmental concerns are playing a crucial role in shaping the composite materials market landscape. Thermoplastic composites are gaining momentum due to their recyclability and reduced environmental impact compared to thermosetting composites. Manufacturers are increasingly focusing on developing sustainable composite materials to meet regulatory requirements and align with the global sustainability goals. This shift towards eco-friendly practices is expected to further drive the adoption of composite materials across industries and create new market opportunities for key players.

The aerospace & defense sector stands out as a significant consumer of composite materials due to stringent regulations, lightweight requirements, and the need for high-performance materials. The automotive industry is also driving market growth by adopting composite materials for vehicle components to enhance fuel efficiency and reduce overall weight. Additionally, the sporting goods industry is increasingly using composite materials to manufacture lightweight and durable sports equipment, further expanding the market's application scope.

In conclusion, the global composite materials market is poised for substantial growth in the foreseeable future, propelled by technological advancements, increasing R&D investments, and the expanding application of composites across various industries. With market leaders focusing on innovation, sustainability, and strategic collaborations, the market is expected to witness significant expansion and adoption of composite materials, creating new avenues for growth and enhancing market competitiveness in the coming years.

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Analyst-Focused Question Templates for Composite Materials Market Evaluation

• What’s the updated market size for Composite Materials Market globally?
• What is the Composite Materials Market industry’s expected CAGR till 2032?
• What primary verticals are explored in the segmentation?
• Who are the current Composite Materials Market leaders?
• What country-specific insights are available for Composite Materials Market?
• Who are the prominent competitors by revenue in Composite Materials Market?

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