The global Composite Resin Market Study analyzes and forecasts the market size across 6 regions and 24 countries for diverse segments -By Resin (Thermoset Composite Resin, Thermoplastic Composite Resin), By Manufacturing Process (Layup, Filament Winding, Injection Molding, Pultrusion, Compression Molding, Resin Transfer Molding, Others), By Application (Construction & Infrastructure, Transportation, Electrical & Electronics, Pipes & Tanks, Wind Energy, Marine, Aerospace & Defense, Others).
In 2024, the composite resin market is witnessing significant growth, driven by the expanding demand for lightweight, high-strength materials in various end-use industries such as aerospace, automotive, construction, and wind energy. Composite resins, also known as matrix resins, serve as the binding agents in composite materials, facilitating the adhesion and dispersion of reinforcement fibers such as carbon fiber, glass fiber, and aramid fiber. The market is propelled by the increasing adoption of composite materials as substitutes for traditional metals and plastics, driven by factors such as fuel efficiency requirements, emissions reduction targets, and the need for sustainable infrastructure solutions. Further, advancements in resin chemistry, curing technologies, and resin infusion processes are driving innovation in composite resin formulations, enabling the development of resins with improved mechanical properties, processing efficiency, and environmental sustainability. Additionally, strategic partnerships between resin manufacturers, fiber producers, and end-users are fostering collaboration and technology transfer to accelerate the commercialization of advanced composite materials tailored to meet specific application requirements and market demands.
The market report analyses the leading companies in the industry including Allnex Composites, Arkema SA, Ashland Global Holdings Inc, Atul Ltd, BASF SE, Evonik Industries AG, Hexion Inc, Huntsman International LLC, Kukdo Chemical Co. Ltd, Nan Ya Plastics Corp, Polynt S.p.A, Royal DSM N.V, SABIC, Schott Bader Company Ltd, Showa Denko K.K, Sumitomo Bakelite Co. Ltd, Swancor Holdings Co. Ltd, The Dow Chemical Company, and others.
A prominent trend in the composite resin market is the increasing demand for lightweight and high-performance materials across various industries, driven by factors such as the need for fuel efficiency, sustainability, and advanced manufacturing capabilities. Industries such as aerospace, automotive, wind energy, and construction are increasingly adopting composite resins to replace traditional materials like metal and wood, offering advantages such as reduced weight, enhanced strength-to-weight ratio, and design flexibility. This trend is reshaping the composite resin market, leading to the development of advanced resin formulations, novel processing techniques, and innovative composite material solutions tailored to specific application requirements, thereby driving the adoption of composite resins as a preferred material choice for lightweight and high-performance applications.
An essential driver propelling the composite resin market is the growth in end-use industries and infrastructure development, where composite materials play a vital role in enabling technological advancements, product innovation, and infrastructure modernization. With the expansion of industries such as transportation, renewable energy, marine, and construction, there is a rising demand for composite resins used in applications such as aircraft components, automotive parts, wind turbine blades, and building materials. This driver is reinforced by factors such as urbanization, population growth, and government initiatives driving investments in infrastructure projects, sustainable development, and clean energy solutions. Manufacturers are leveraging this driver by expanding their product portfolios, investing in manufacturing capacity, and establishing strategic partnerships to capitalize on growth opportunities in emerging markets and infrastructure segments driving demand for composite resins.
A potential opportunity for the composite resin market lies in the development of sustainable and bio-based resin solutions, addressing the growing demand for environmentally friendly materials and regulatory requirements aimed at reducing carbon footprint and dependency on fossil fuels. With increasing emphasis on sustainability, circular economy principles, and renewable resources, there is a rising interest in bio-based resins derived from natural sources such as plant oils, lignin, and bio-based polymers. Manufacturers can capitalize on this opportunity by investing in research and development of bio-based resin formulations, exploring novel feedstock sources, and optimizing production processes to achieve performance parity with conventional resins. By offering sustainable resin solutions that meet customer requirements for eco-friendly materials and comply with regulatory standards for environmental stewardship, companies can differentiate themselves in the market, capture market share in sustainable product segments, and contribute to the transition towards a more sustainable and circular economy. Additionally, collaboration with bio-material suppliers, academic institutions, and government agencies can facilitate technology development, market penetration, and commercialization of bio-based resin products, positioning manufacturers for long-term success in the composite resin market.
Thermoset Composite Resin segment is the largest segment in the Composite Resin Market. thermoset composite resins offer superior mechanical properties, such as high strength, stiffness, and dimensional stability, making them suitable for a wide range of applications across industries such as aerospace, automotive, construction, and marine. Thermoset resins undergo irreversible chemical crosslinking reactions during curing, resulting in a rigid and durable polymer network that exhibits excellent resistance to heat, chemicals, and environmental degradation. Additionally, thermoset composite resins can be customized to meet specific application requirements by incorporating various reinforcements such as fibers (e.g., carbon, glass, aramid) and fillers to enhance performance characteristics such as tensile strength, impact resistance, and fatigue resistance. Moreover, thermoset composite resins are widely used in advanced manufacturing processes such as resin infusion, compression molding, and filament winding, enabling the production of complex shapes and structures with consistent quality and repeatability. Furthermore, the growing demand for lightweight and high-performance materials in industries such as aerospace and automotive drives the adoption of thermoset composite resins as they offer significant weight savings compared to traditional metallic materials while maintaining structural integrity and performance. Over the forecast period, thermoset Composite Resin segment maintains its position as the largest in the Composite Resin Market due to its superior properties, versatility, and widespread usage across diverse industries and applications.
The Filament Winding segment is the fastest-growing segment in the Composite Resin Market. This growth is primarily driven by filament winding is a highly efficient and cost-effective manufacturing process for producing composite structures with cylindrical or conical shapes, such as pipes, pressure vessels, and rocket motor casings. This process involves winding continuous fibers, typically glass or carbon, onto a rotating mandrel coated with resin, creating a composite structure with excellent strength-to-weight ratio and corrosion resistance. Additionally, filament winding offers design flexibility and scalability, allowing manufacturers to produce components of varying sizes and complexities to meet specific application requirements. Moreover, advancements in filament winding technologies, such as computer-controlled winding machines, automated resin impregnation systems, and in-situ curing methods, enable precise control over fiber orientation, resin content, and laminate properties, resulting in high-quality composite products with consistent performance characteristics. Furthermore, the growing demand for lightweight and durable materials in industries such as aerospace, automotive, and renewable energy drives the adoption of filament winding as a preferred manufacturing process for producing composite components that offer superior mechanical properties, reduced manufacturing lead times, and increased production efficiency. Over the forecast period, the Filament Winding segment experiences rapid growth in the Composite Resin Market due to its efficiency, versatility, and ability to meet the evolving needs and challenges of various industries requiring high-performance composite structures.
The Construction & Infrastructure segment is the largest segment in the Composite Resin Market. composite resins offer a wide range of benefits that make them ideal for use in construction and infrastructure applications. These benefits include high strength-to-weight ratio, corrosion resistance, durability, and design flexibility, allowing for the construction of lightweight and resilient structures such as bridges, buildings, roads, and pipelines. Additionally, composite materials enable the development of innovative construction solutions that address challenges such as aging infrastructure, urbanization, and sustainability requirements. For example, composite rebars and reinforcements provide superior corrosion resistance and durability compared to traditional steel reinforcements, making them suitable for use in harsh environments and corrosive conditions. Moreover, composite resins are increasingly being used in infrastructure projects for their ability to reduce construction costs, improve energy efficiency, and enhance structural performance. Furthermore, the growing investment in infrastructure development, urbanization projects, and sustainable construction initiatives worldwide drives the demand for composite resins in the construction and infrastructure sector. Over the forecast period, the Construction & Infrastructure segment maintains its position as the largest in the Composite Resin Market due to the extensive use of composite materials to address the evolving needs and challenges of the construction industry and infrastructure projects globally.
By Resin
Thermoset Composite Resin
Thermoplastic Composite Resin
By Manufacturing Process
Layup
Filament Winding
Injection Molding
Pultrusion
Compression Molding
Resin Transfer Molding
Others
By Application
Construction & Infrastructure
Transportation
Electrical & Electronics
Pipes & Tanks
Wind Energy
Marine
Aerospace & Defense
Others
Countries Analyzed
North America (US, Canada, Mexico)
Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, South East Asia, Rest of Asia)
South America (Brazil, Argentina, Rest of South America)
Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East, South Africa, Egypt, Rest of Africa)
Allnex Composites
Arkema SA
Ashland Global Holdings Inc
Atul Ltd
BASF SE
Evonik Industries AG
Hexion Inc
Huntsman International LLC
Kukdo Chemical Co. Ltd
Nan Ya Plastics Corp
Polynt S.p.A
Royal DSM N.V
SABIC
Schott Bader Company Ltd
Showa Denko K.K
Sumitomo Bakelite Co. Ltd
Swancor Holdings Co. Ltd
The Dow Chemical Company
*- List Not Exhaustive
TABLE OF CONTENTS
1 Introduction to 2024 Composite Resin 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 Covered
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 Resin Market Size Outlook, $ Million, 2021 to 2032
3.2 Composite Resin Market Outlook by Type, $ Million, 2021 to 2032
3.3 Composite Resin Market Outlook by Product, $ Million, 2021 to 2032
3.4 Composite Resin Market Outlook by Application, $ Million, 2021 to 2032
3.5 Composite Resin Market Outlook by Key Countries, $ Million, 2021 to 2032
4 Market Dynamics
4.1 Key Driving Forces of Composite Resin Industry
4.2 Key Market Trends in Composite Resin Industry
4.3 Potential Opportunities in Composite Resin Industry
4.4 Key Challenges in Composite Resin Industry
5 Market Factor Analysis
5.1 Value Chain Analysis
5.2 Competitive Landscape
5.2.1 Global Composite Resin 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 Resin Market Outlook by Segments
7.1 Composite Resin Market Outlook by Segments, $ Million, 2021- 2032
By Resin
Thermoset Composite Resin
Thermoplastic Composite Resin
By Manufacturing Process
Layup
Filament Winding
Injection Molding
Pultrusion
Compression Molding
Resin Transfer Molding
Others
By Application
Construction & Infrastructure
Transportation
Electrical & Electronics
Pipes & Tanks
Wind Energy
Marine
Aerospace & Defense
Others
8 North America Composite Resin Market Analysis and Outlook To 2032
8.1 Introduction to North America Composite Resin Markets in 2024
8.2 North America Composite Resin Market Size Outlook by Country, 2021-2032
8.2.1 United States
8.2.2 Canada
8.2.3 Mexico
8.3 North America Composite Resin Market size Outlook by Segments, 2021-2032
By Resin
Thermoset Composite Resin
Thermoplastic Composite Resin
By Manufacturing Process
Layup
Filament Winding
Injection Molding
Pultrusion
Compression Molding
Resin Transfer Molding
Others
By Application
Construction & Infrastructure
Transportation
Electrical & Electronics
Pipes & Tanks
Wind Energy
Marine
Aerospace & Defense
Others
9 Europe Composite Resin Market Analysis and Outlook To 2032
9.1 Introduction to Europe Composite Resin Markets in 2024
9.2 Europe Composite Resin Market Size Outlook by Country, 2021-2032
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 Resin Market Size Outlook by Segments, 2021-2032
By Resin
Thermoset Composite Resin
Thermoplastic Composite Resin
By Manufacturing Process
Layup
Filament Winding
Injection Molding
Pultrusion
Compression Molding
Resin Transfer Molding
Others
By Application
Construction & Infrastructure
Transportation
Electrical & Electronics
Pipes & Tanks
Wind Energy
Marine
Aerospace & Defense
Others
10 Asia Pacific Composite Resin Market Analysis and Outlook To 2032
10.1 Introduction to Asia Pacific Composite Resin Markets in 2024
10.2 Asia Pacific Composite Resin Market Size Outlook by Country, 2021-2032
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 Resin Market size Outlook by Segments, 2021-2032
By Resin
Thermoset Composite Resin
Thermoplastic Composite Resin
By Manufacturing Process
Layup
Filament Winding
Injection Molding
Pultrusion
Compression Molding
Resin Transfer Molding
Others
By Application
Construction & Infrastructure
Transportation
Electrical & Electronics
Pipes & Tanks
Wind Energy
Marine
Aerospace & Defense
Others
11 South America Composite Resin Market Analysis and Outlook To 2032
11.1 Introduction to South America Composite Resin Markets in 2024
11.2 South America Composite Resin Market Size Outlook by Country, 2021-2032
11.2.1 Brazil
11.2.2 Argentina
11.2.3 Rest of South America
11.3 South America Composite Resin Market size Outlook by Segments, 2021-2032
By Resin
Thermoset Composite Resin
Thermoplastic Composite Resin
By Manufacturing Process
Layup
Filament Winding
Injection Molding
Pultrusion
Compression Molding
Resin Transfer Molding
Others
By Application
Construction & Infrastructure
Transportation
Electrical & Electronics
Pipes & Tanks
Wind Energy
Marine
Aerospace & Defense
Others
12 Middle East and Africa Composite Resin Market Analysis and Outlook To 2032
12.1 Introduction to Middle East and Africa Composite Resin Markets in 2024
12.2 Middle East and Africa Composite Resin Market Size Outlook by Country, 2021-2032
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 Resin Market size Outlook by Segments, 2021-2032
By Resin
Thermoset Composite Resin
Thermoplastic Composite Resin
By Manufacturing Process
Layup
Filament Winding
Injection Molding
Pultrusion
Compression Molding
Resin Transfer Molding
Others
By Application
Construction & Infrastructure
Transportation
Electrical & Electronics
Pipes & Tanks
Wind Energy
Marine
Aerospace & Defense
Others
13 Company Profiles
13.1 Company Snapshot
13.2 SWOT Profiles
13.3 Products and Services
13.4 Recent Developments
13.5 Financial Profile
Allnex Composites
Arkema SA
Ashland Global Holdings Inc
Atul Ltd
BASF SE
Evonik Industries AG
Hexion Inc
Huntsman International LLC
Kukdo Chemical Co. Ltd
Nan Ya Plastics Corp
Polynt S.p.A
Royal DSM N.V
SABIC
Schott Bader Company Ltd
Showa Denko K.K
Sumitomo Bakelite Co. Ltd
Swancor Holdings Co. Ltd
The Dow Chemical Company
14 Appendix
14.1 Customization Offerings
14.2 Subscription Services
14.3 Related Reports
14.4 Publisher Expertise
By Resin
Thermoset Composite Resin
Thermoplastic Composite Resin
By Manufacturing Process
Layup
Filament Winding
Injection Molding
Pultrusion
Compression Molding
Resin Transfer Molding
Others
By Application
Construction & Infrastructure
Transportation
Electrical & Electronics
Pipes & Tanks
Wind Energy
Marine
Aerospace & Defense
Others
Countries Analyzed
North America (US, Canada, Mexico)
Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, South East Asia, Rest of Asia)
South America (Brazil, Argentina, Rest of South America)
Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East, South Africa, Egypt, Rest of Africa)
Global Composite Resin Market Size is valued at $23.6 Billion in 2024 and is forecast to register a growth rate (CAGR) of 6.4% to reach $38.8 Billion by 2032.
Emerging Markets across Asia Pacific, Europe, and Americas present robust growth prospects.
Allnex Composites, Arkema SA, Ashland Global Holdings Inc, Atul Ltd, BASF SE, Evonik Industries AG, Hexion Inc, Huntsman International LLC, Kukdo Chemical Co. Ltd, Nan Ya Plastics Corp, Polynt S.p.A, Royal DSM N.V, SABIC, Schott Bader Company Ltd, Showa Denko K.K, Sumitomo Bakelite Co. Ltd, Swancor Holdings Co. Ltd, The Dow Chemical Company
Base Year- 2023; Estimated Year- 2024; Historic Period- 2018-2023; Forecast period- 2024 to 2032; Currency: Revenue (USD); Volume