The global Composite Materials Market study analyzes and forecasts the market size across 6 regions and 24 countries for diverse segments including By Fiber (Glass Fiber, Carbon Fiber, Natural Fiber), By Resin (Thermoset, Thermoplastic), By Manufacturing Process (Layup, Filament Winding, Injection Molding, Pultrusion Process, Compression Molding), By End-User (Automotive and Transportation, Building and Construction, Electrical & Electronics goods, Others).
The Composite Materials Market in 2024 continues to drive innovation and efficiency across diverse industries, offering lightweight, high-strength, and corrosion-resistant solutions for structural and functional applications. Composite materials, composed of two or more distinct materials combined to form a new material with enhanced properties, find extensive use in aerospace, automotive, construction, marine, and renewable energy sectors. The market experiences robust growth driven by factors such as demand for fuel-efficient vehicles, infrastructure development, and renewable energy projects. Technological advancements in composite manufacturing processes, resin formulations, and fiber reinforcements enable the production of complex and customizable composite structures tailored to specific performance requirements. Additionally, environmental concerns and regulatory pressures drive the adoption of sustainable composite materials derived from bio-based resins and recycled fibers. Furthermore, strategic partnerships, research collaborations, and investment in R&D foster innovation and market competitiveness. As industries seek to reduce carbon emissions, improve operational efficiency, and enhance product performance, the composite materials market remains poised for sustained growth, offering opportunities for material suppliers, manufacturers, and end-s to capitalize on the benefits of composite solutions in a wide range of applications.
The global Composite Materials Market Industry is highly competitive with a large number of companies focusing on niche market segments. Amidst intense competitive conditions, Composite Materials Market Companies are investing in new product launches and strengthening distribution channels. Key companies operating in the Composite Materials Market Industry include- 3M Co., Cabot Corp, Compagnie de Saint Gobain SA, COMPOSITES UNIVERSAL GROUP, DuPont de Nemours Inc, Gurit Holding AG, Hexcel Corp, Huntsman Corp, Kineco Ltd, Mitsubishi Chemical Corp, Momentive Performance Materials Inc, Nippon Electric Glass Co. Ltd, Owens Corning, Scott Bader Co. Ltd, SGL Carbon SE
A significant trend in the Composite Materials Market is the increased adoption of lightweight and high-strength materials across various industries, driven by the need for fuel efficiency, performance optimization, and sustainability. Composite materials offer exceptional strength-to-weight ratios, corrosion resistance, and design flexibility, making them ideal for replacing traditional materials such as metals and plastics in automotive, aerospace, construction, and renewable energy applications. With a focus on reducing carbon emissions, improving energy efficiency, and enhancing product performance, there's a growing demand for composite materials that enable manufacturers to achieve lightweight objectives while maintaining structural integrity and durability. This reflects a shift towards composite materials as the preferred solution for addressing key challenges in materials engineering and achieving sustainability goals in industrial sectors.
A significant driver propelling the Composite Materials Market is the growth in the aerospace and defense sector, fueled by increasing demand for commercial aircraft, military aircraft, and unmanned aerial vehicles (UAVs) worldwide. Composite materials play a crucial role in aerospace applications, offering weight savings, fuel efficiency improvements, and enhanced performance characteristics compared to traditional materials. With rising air passenger traffic, aircraft manufacturers are investing in lightweight composite structures to reduce operating costs, increase payload capacity, and comply with stringent emission regulations. Additionally, defense agencies are adopting composite materials for military aircraft, vehicles, and ballistic protection systems to enhance operational capabilities and reduce life-cycle costs. The expansion of the aerospace and defense sector drives the demand for composite materials, creating opportunities for manufacturers to supply advanced composite solutions to aerospace OEMs and defense contractors.
An untapped opportunity in the Composite Materials Market lies in innovation in sustainable and bio-based composites that offer environmental benefits, reduced carbon footprint, and enhanced recyclability. With increasing emphasis on environmental sustainability and circular economy principles, there's a market opportunity for composite materials derived from renewable sources such as bio-based resins, natural fibers, and recycled materials. Sustainable composites not only reduce reliance on fossil fuels and minimize waste generation but also offer comparable performance characteristics to conventional composites, making them attractive options for eco-conscious industries and consumers. By investing in research and development of sustainable composite materials, manufacturers can differentiate their product offerings, meet evolving customer demands for eco-friendly solutions, and capitalize on the growing market opportunity for sustainable materials in the Composite Materials Market.
By Fiber
By Resin
By Manufacturing Process
By End-User
Geographical Analysis
*- List not Exhaustive
TABLE OF CONTENTS
1 Introduction to 2024 Composite Materials Market
1.1 Market Overview
1.2 Quick Facts
1.3 Scope/Objective of the Study
1.4 Market Definition
1.5 Countries and Regions Analyzed
1.6 Units, Currency, and Conversions
1.7 Industry Value Chain
2 Research Methodology
2.1 Market Size Estimation
2.2 Sources and Research Methodology
2.3 Data Triangulation
2.4 Assumptions and Limitations
3 Executive Summary
3.1 Global Composite Materials Market Size Outlook, $ Million, 2021 to 2030
3.2 Composite Materials Market Outlook by Type, $ Million, 2021 to 2030
3.3 Composite Materials Market Outlook by Product, $ Million, 2021 to 2030
3.4 Composite Materials Market Outlook by Application, $ Million, 2021 to 2030
3.5 Composite Materials Market Outlook by Key Countries, $ Million, 2021 to 2030
4 Market Dynamics
4.1 Key Driving Forces of Composite Materials Industry
4.2 Key Market Trends in Composite Materials Industry
4.3 Potential Opportunities in Composite Materials Industry
4.4 Key Challenges in Composite Materials Industry
5 Market Factor Analysis
5.1 Value Chain Analysis
5.2 Competitive Landscape
5.2.1 Global Composite Materials Market Share by Company (%), 2023
5.2.2 Product Offerings by Company
5.3 Porter’s Five Forces Analysis
5.4 Pricing Analysis and Outlook
6 Growth Outlook Across Scenarios
6.1 Growth Analysis-Case Scenario Definitions
6.2 Low Growth Scenario Forecasts
6.3 Reference Growth Scenario Forecasts
6.4 High Growth Scenario Forecasts
7 Global Composite Materials Market Outlook by Segments
7.1 Composite Materials Market Outlook by Segments, $ Million, 2021- 2030
By Fiber
Glass Fiber
Carbon Fiber
Natural Fiber
By Resin
Thermoset
Thermoplastic
By Manufacturing Process
Layup
Filament Winding
Injection Molding
Pultrusion Process
Compression Molding
By End-User
Automotive and Transportation
Building and Construction
Electrical & Electronics goods
Pipes & Tank manufacturing
Consumer goods
Wind power
Maritime
Défense and aviation
8 North America Composite Materials Market Analysis and Outlook To 2030
8.1 Introduction to North America Composite Materials Markets in 2024
8.2 North America Composite Materials Market Size Outlook by Country, 2021-2030
8.2.1 United States
8.2.2 Canada
8.2.3 Mexico
8.3 North America Composite Materials Market size Outlook by Segments, 2021-2030
By Fiber
Glass Fiber
Carbon Fiber
Natural Fiber
By Resin
Thermoset
Thermoplastic
By Manufacturing Process
Layup
Filament Winding
Injection Molding
Pultrusion Process
Compression Molding
By End-User
Automotive and Transportation
Building and Construction
Electrical & Electronics goods
Pipes & Tank manufacturing
Consumer goods
Wind power
Maritime
Défense and aviation
9 Europe Composite Materials Market Analysis and Outlook To 2030
9.1 Introduction to Europe Composite Materials Markets in 2024
9.2 Europe Composite Materials Market Size Outlook by Country, 2021-2030
9.2.1 Germany
9.2.2 France
9.2.3 Spain
9.2.4 United Kingdom
9.2.4 Italy
9.2.5 Russia
9.2.6 Norway
9.2.7 Rest of Europe
9.3 Europe Composite Materials Market Size Outlook by Segments, 2021-2030
By Fiber
Glass Fiber
Carbon Fiber
Natural Fiber
By Resin
Thermoset
Thermoplastic
By Manufacturing Process
Layup
Filament Winding
Injection Molding
Pultrusion Process
Compression Molding
By End-User
Automotive and Transportation
Building and Construction
Electrical & Electronics goods
Pipes & Tank manufacturing
Consumer goods
Wind power
Maritime
Défense and aviation
10 Asia Pacific Composite Materials Market Analysis and Outlook To 2030
10.1 Introduction to Asia Pacific Composite Materials Markets in 2024
10.2 Asia Pacific Composite Materials Market Size Outlook by Country, 2021-2030
10.2.1 China
10.2.2 India
10.2.3 Japan
10.2.4 South Korea
10.2.5 Indonesia
10.2.6 Malaysia
10.2.7 Australia
10.2.8 Rest of Asia Pacific
10.3 Asia Pacific Composite Materials Market size Outlook by Segments, 2021-2030
By Fiber
Glass Fiber
Carbon Fiber
Natural Fiber
By Resin
Thermoset
Thermoplastic
By Manufacturing Process
Layup
Filament Winding
Injection Molding
Pultrusion Process
Compression Molding
By End-User
Automotive and Transportation
Building and Construction
Electrical & Electronics goods
Pipes & Tank manufacturing
Consumer goods
Wind power
Maritime
Défense and aviation
11 South America Composite Materials Market Analysis and Outlook To 2030
11.1 Introduction to South America Composite Materials Markets in 2024
11.2 South America Composite Materials Market Size Outlook by Country, 2021-2030
11.2.1 Brazil
11.2.2 Argentina
11.2.3 Rest of South America
11.3 South America Composite Materials Market size Outlook by Segments, 2021-2030
By Fiber
Glass Fiber
Carbon Fiber
Natural Fiber
By Resin
Thermoset
Thermoplastic
By Manufacturing Process
Layup
Filament Winding
Injection Molding
Pultrusion Process
Compression Molding
By End-User
Automotive and Transportation
Building and Construction
Electrical & Electronics goods
Pipes & Tank manufacturing
Consumer goods
Wind power
Maritime
Défense and aviation
12 Middle East and Africa Composite Materials Market Analysis and Outlook To 2030
12.1 Introduction to Middle East and Africa Composite Materials Markets in 2024
12.2 Middle East and Africa Composite Materials Market Size Outlook by Country, 2021-2030
12.2.1 Saudi Arabia
12.2.2 UAE
12.2.3 Oman
12.2.4 Rest of Middle East
12.2.5 Egypt
12.2.6 Nigeria
12.2.7 South Africa
12.2.8 Rest of Africa
12.3 Middle East and Africa Composite Materials Market size Outlook by Segments, 2021-2030
By Fiber
Glass Fiber
Carbon Fiber
Natural Fiber
By Resin
Thermoset
Thermoplastic
By Manufacturing Process
Layup
Filament Winding
Injection Molding
Pultrusion Process
Compression Molding
By End-User
Automotive and Transportation
Building and Construction
Electrical & Electronics goods
Pipes & Tank manufacturing
Consumer goods
Wind power
Maritime
Défense and aviation
13 Company Profiles
13.1 Company Snapshot
13.2 SWOT Profiles
13.3 Products and Services
13.4 Recent Developments
13.5 Financial Profile
3M Co.
Cabot Corp
Compagnie de Saint Gobain SA
COMPOSITES UNIVERSAL GROUP
DuPont de Nemours Inc
Gurit Holding AG
Hexcel Corp
Huntsman Corp
Kineco Ltd
Mitsubishi Chemical Corp
Momentive Performance Materials Inc
Nippon Electric Glass Co. Ltd
Owens Corning
Scott Bader Co. Ltd
SGL Carbon SE
14 Appendix
14.1 Customization Offerings
14.2 Subscription Services
14.3 Related Reports
14.4 Publisher Expertise
By Fiber
By Resin
By Manufacturing Process
By End-User
Geographical Analysis
The global Composite Materials Market is one of the lucrative growth markets, poised to register a 7.5% growth (CAGR) between 2024 and 2030.
Emerging Markets across Asia Pacific, Europe, and Americas present robust growth prospects.
3M Co., Cabot Corp, Compagnie de Saint Gobain SA, COMPOSITES UNIVERSAL GROUP, DuPont de Nemours Inc, Gurit Holding AG, Hexcel Corp, Huntsman Corp, Kineco Ltd, Mitsubishi Chemical Corp, Momentive Performance Materials Inc, Nippon Electric Glass Co. Ltd, Owens Corning, Scott Bader Co. Ltd, SGL Carbon SE
Base Year- 2023; Estimated Year- 2024; Historic Period- 2018-2023; Forecast period- 2024 to 2030; Currency: USD; Volume