The market growth is driven by an increasing There's a growing trend toward using composites in infrastructure applications such as bridges, pipelines, and buildings. Composites offer advantages like corrosion resistance, durability, and ease of installation, making them attractive for projects requiring long-lasting and low-maintenance materials. As aging infrastructure needs replacement or upgrade, composites present a viable solution, driving demand in this sector. Leading Companies focusing on Advancements in Nanocomposites, Integration of Smart Materials, Expansion into Healthcare and Biomedical Applications, and others to boost market shares in the industry.
The composites market comprises various materials with distinct properties like high strength-to-weight ratio and corrosion resistance, used across industries such as aerospace, automotive, wind energy, construction, and marine. Key drivers include the demand for lightweight materials, technological advancements, and environmental regulations promoting eco-friendly solutions. Challenges include high manufacturing costs, recycling difficulties, and the complexity of material selection and design. Despite challenges, ongoing research and development drive innovation, expanding applications, and market opportunities for composites.
The increasing demand for fuel-efficient aircraft is a key factor propelling the aerospace industry's adoption of composite materials. With their exceptional strength-to-weight ratio, composites are well-suited for crucial aircraft components like fuselages, wings, and empennages. Substituting traditional materials such as aluminum with composites allows manufacturers to significantly reduce weight, leading to enhanced fuel efficiency and decreased operational costs. Moreover, composites offer superior design flexibility, facilitating the creation of streamlined structures that further boost fuel efficiency. In response to the imperative to curtail carbon emissions and operational expenses, both airlines and aircraft manufacturers are increasingly turning to composite materials. This shift fuels innovation and progress in aerospace engineering. The growing prevalence of composite-intensive aircraft models like the Boeing 787 Dreamliner and the Airbus A350 XWB underscores the industry's commitment to sustainable and efficient air travel.
The growth of the composites market is strongly influenced by increasing demand within the wind energy sector. Composite materials, prized for their lightweight properties, high strength, and corrosion resistance, are becoming increasingly prevalent in the manufacture of wind turbine components such as blades, towers, and nacelles. This trend is fueled by the global shift towards renewable energy sources, which is driving expansion in the wind energy industry. Furthermore, ongoing advancements in composite manufacturing techniques, including automated fiber placement and resin infusion, are enhancing the efficiency and cost-effectiveness of producing these components. Given wind energy's pivotal role in the transition to a sustainable energy future, the demand for composites within this sector is poised to continue its upward trajectory, offering substantial opportunities for manufacturers and suppliers operating in the composites market.
The Global Composites Market is analyzed across the Layup Process, Filament Winding Process, Injection Molding Process, Pultrusion Process, Compression Molding Process, Resin Transfer Molding Process, and others. Pultrusion Process is poised to register the fastest growth. The extrusion process in the composites market involves pulling continuous fibers through a resin bath and shaping die, resulting in high production rates, consistent quality, and complex shapes. Used extensively in construction, infrastructure, aerospace, automotive, and marine industries, pultruded composites offer lightweight, corrosion-resistant, and durable alternatives to traditional materials like steel and aluminum. Advancements in technology and materials are driving further growth, expanding the applications and capabilities of pultruded composites across various sectors.
The Global Composites Market is analyzed across various products including Carbon Fiber, Glass Fiber, and others. Of these, Carbon Fiber held a significant market share in 2024. The carbon fiber composites market has seen robust growth driven by demand from the aerospace, automotive, wind energy, sports, and construction industries. Offering high strength-to-weight ratios and corrosion resistance, carbon fiber composites are favored for lightweight and high-performance applications. Key sectors like aerospace have embraced them for fuel efficiency, while automotive sectors utilize them for improved performance and reduced emissions. Advancements in manufacturing and a focus on sustainability further propel market growth, with innovation and expanding applications continuing to drive the industry forward.
By Process
By Product
By End-use
By Region
*List not exhaustive
Composites Market Outlook 2024
1 Market Overview
1.1 Introduction to the Composites Market
1.2 Scope of the Study
1.3 Research Objective
1.3.1 Key Market Scope and Segments
1.3.2 Players Covered
1.3.3 Years Considered
2 Executive Summary
2.1 2024 Composites Market Industry- Market Statistics
3 Market Dynamics
3.1 Market Drivers
3.2 Market Challenges
3.3 Market Opportunities
3.4 Market Trends
4 Market Factor Analysis
4.1 Porter’s Five Forces
4.2 Market Entropy
4.2.1 Global Composites Market Companies with Area Served
4.2.2 Products Offerings Global Composites Market
5 Recession Impact Analysis and Outlook Scenarios
5.1.1 Recission Impact Analysis
5.1.2 Market Growth Scenario- Base Case
5.1.3 Market Growth Scenario- Reference Case
5.1.4 Market Growth Scenario- High Case
6 Global Composites Market Trends
6.1 Global Composites Market Revenue (USD Million) and CAGR (%) by Type (2018-2032)
6.2 Global Composites Market Revenue (USD Million) and CAGR (%) by Applications (2018-2032)
6.3 Global Composites Market Revenue (USD Million) and CAGR (%) by Regions (2018-2032)
7 Global Composites Market Revenue (USD Million) by Type, and Applications (2018-2023)
7.1 Global Composites Market Revenue (USD Million) by Type (2018-2023)
7.1.1 Global Composites Market Revenue (USD Million), Market Share (%) by Type (2018-2023)
7.2 Global Composites Market Revenue (USD Million) by Applications (2018-2023)
7.2.1 Global Composites Market Revenue (USD Million), Market Share (%) by Applications (2018-2023)
8 Global Composites Market Development Regional Status and Outlook
8.1 Global Composites Market Revenue (USD Million) By Regions (2018-2023)
8.2 North America Composites Market Revenue (USD Million) by Type, and Application (2018-2023)
8.2.1 North America Composites Market Revenue (USD Million) by Country (2018-2023)
8.2.2 North America Composites Market Revenue (USD Million) by Type (2018-2023)
8.2.3 North America Composites Market Revenue (USD Million) by Applications (2018-2023)
8.3 Europe Composites Market Revenue (USD Million), by Type, and Applications (USD Million) (2018-2023)
8.3.1 Europe Composites Market Revenue (USD Million), by Country (2018-2023)
8.3.2 Europe Composites Market Revenue (USD Million) by Type (2018-2023)
8.3.3 Europe Composites Market Revenue (USD Million) by Applications (2018-2023)
8.4 Asia Pacific Composites Market Revenue (USD Million), and Revenue (USD Million) by Type, and Applications (2018-2023)
8.4.1 Asia Pacific Composites Market Revenue (USD Million) by Country (2018-2023)
8.4.2 Asia Pacific Composites Market Revenue (USD Million) by Type (2018-2023)
8.4.3 Asia Pacific Composites Market Revenue (USD Million) by Applications (2018-2023)
8.5 South America Composites Market Revenue (USD Million), by Type, and Applications (2018-2023)
8.5.1 South America Composites Market Revenue (USD Million), by Country (2018-2023)
8.5.2 South America Composites Market Revenue (USD Million) by Type (2018-2023)
8.5.3 South America Composites Market Revenue (USD Million) by Applications (2018-2023)
8.6 Middle East and Africa Composites Market Revenue (USD Million), by Type, Technology, Application, Thickness (2018-2023)
8.6.1 Middle East and Africa Composites Market Revenue (USD Million) by Country (2018-2023)
8.6.2 Middle East and Africa Composites Market Revenue (USD Million) by Type (2018-2023)
8.6.3 Middle East and Africa Composites Market Revenue (USD Million) by Applications (2018-2023)
9 Company Profiles
10 Global Composites Market Revenue (USD Million), by Type, and Applications (2024-2032)
10.1 Global Composites Market Revenue (USD Million) and Market Share (%) by Type (2024-2032)
10.1.1 Global Composites Market Revenue (USD Million), and Market Share (%) by Type (2024-2032)
10.2 Global Composites Market Revenue (USD Million) and Market Share (%) by Applications (2024-2032)
10.2.1 Global Composites Market Revenue (USD Million), and Market Share (%) by Applications (2024-2032)
11 Global Composites Market Development Regional Status and Outlook Forecast
11.1 Global Composites Market Revenue (USD Million) By Regions (2024-2032)
11.2 North America Composites Market Revenue (USD Million) by Type, and Applications (2024-2032)
11.2.1 North America Composites Market Revenue (USD) Million by Country (2024-2032)
11.2.2 North America Composites Market Revenue (USD Million), by Type (2024-2032)
11.2.3 North America Composites Market Revenue (USD Million), Market Share (%) by Applications (2024-2032)
11.3 Europe Composites Market Revenue (USD Million), by Type, and Applications (2024-2032)
11.3.1 Europe Composites Market Revenue (USD Million), by Country (2024-2032)
11.3.2 Europe Composites Market Revenue (USD Million), by Type (2024-2032)
11.3.3 Europe Composites Market Revenue (USD Million), by Applications (2024-2032)
11.4 Asia Pacific Composites Market Revenue (USD Million) by Type, and Applications (2024-2032)
11.4.1 Asia Pacific Composites Market Revenue (USD Million), by Country (2024-2032)
11.4.2 Asia Pacific Composites Market Revenue (USD Million), by Type (2024-2032)
11.4.3 Asia Pacific Composites Market Revenue (USD Million), by Applications (2024-2032)
11.5 South America Composites Market Revenue (USD Million), by Type, and Applications (2024-2032)
11.5.1 South America Composites Market Revenue (USD Million), by Country (2024-2032)
11.5.2 South America Composites Market Revenue (USD Million), by Type (2024-2032)
11.5.3 South America Composites Market Revenue (USD Million), by Applications (2024-2032)
11.6 Middle East and Africa Composites Market Revenue (USD Million), by Type, and Applications (2024-2032)
11.6.1 Middle East and Africa Composites Market Revenue (USD Million), by region (2024-2032)
11.6.2 Middle East and Africa Composites Market Revenue (USD Million), by Type (2024-2032)
11.6.3 Middle East and Africa Composites Market Revenue (USD Million), by Applications (2024-2032)
12 Methodology and Data Sources
12.1 Methodology/Research Approach
12.1.1 Research Programs/Design
12.1.2 Market Size Estimation
12.1.3 Market Breakdown and Data Triangulation
12.2 Data Sources
12.2.1 Secondary Sources
12.2.2 Primary Sources
12.3 Disclaimer
List of Tables
Table 1 Market Segmentation Analysis
Table 2 Global Composites Market Companies with Areas Served
Table 3 Products Offerings Global Composites Market
Table 4 Low Growth Scenario Forecasts
Table 5 Reference Case Growth Scenario
Table 6 High Growth Case Scenario
Table 7 Global Composites Market Revenue (USD Million) And CAGR (%) By Type (2018-2032)
Table 8 Global Composites Market Revenue (USD Million) And CAGR (%) By Applications (2018-2032)
Table 9 Global Composites Market Revenue (USD Million) And CAGR (%) By Regions (2018-2032)
Table 10 Global Composites Market Revenue (USD Million) By Type (2018-2023)
Table 11 Global Composites Market Revenue Market Share (%) By Type (2018-2023)
Table 12 Global Composites Market Revenue (USD Million) By Applications (2018-2023)
Table 13 Global Composites Market Revenue Market Share (%) By Applications (2018-2023)
Table 14 Global Composites Market Revenue (USD Million) By Regions (2018-2023)
Table 15 Global Composites Market Share (%) By Regions (2018-2023)
Table 16 North America Composites Market Revenue (USD Million) By Country (2018-2023)
Table 17 North America Composites Market Revenue (USD Million) By Type (2018-2023)
Table 18 North America Composites Market Revenue (USD Million) By Applications (2018-2023)
Table 19 Europe Composites Market Revenue (USD Million) By Country (2018-2023)
Table 20 Europe Composites Market Revenue (USD Million) By Type (2018-2023)
Table 21 Europe Composites Market Revenue (USD Million) By Applications (2018-2023)
Table 22 Asia Pacific Composites Market Revenue (USD Million) By Country (2018-2023)
Table 23 Asia Pacific Composites Market Revenue (USD Million) By Type (2018-2023)
Table 24 Asia Pacific Composites Market Revenue (USD Million) By Applications (2018-2023)
Table 25 South America Composites Market Revenue (USD Million) By Country (2018-2023)
Table 26 South America Composites Market Revenue (USD Million) By Type (2018-2023)
Table 27 South America Composites Market Revenue (USD Million) By Applications (2018-2023)
Table 28 Middle East and Africa Composites Market Revenue (USD Million) By Region (2018-2023)
Table 29 Middle East and Africa Composites Market Revenue (USD Million) By Type (2018-2023)
Table 30 Middle East and Africa Composites Market Revenue (USD Million) By Applications (2018-2023)
Table 31 Financial Analysis
Table 32 Global Composites Market Revenue (USD Million) By Type (2024-2032)
Table 33 Global Composites Market Revenue Market Share (%) By Type (2024-2032)
Table 34 Global Composites Market Revenue (USD Million) By Applications (2024-2032)
Table 35 Global Composites Market Revenue Market Share (%) By Applications (2024-2032)
Table 36 Global Composites Market Revenue (USD Million), And Revenue (USD Million) By Regions (2024-2032)
Table 37 North America Composites Market Revenue (USD)By Country (2024-2032)
Table 38 North America Composites Market Revenue (USD Million) By Type (2024-2032)
Table 39 North America Composites Market Revenue (USD Million) By Applications (2024-2032)
Table 40 Europe Composites Market Revenue (USD Million) By Country (2024-2032)
Table 41 Europe Composites Market Revenue (USD Million) By Type (2024-2032)
Table 42 Europe Composites Market Revenue (USD Million) By Applications (2024-2032)
Table 43 Asia Pacific Composites Market Revenue (USD Million) By Country (2024-2032)
Table 44 Asia Pacific Composites Market Revenue (USD Million) By Type (2024-2032)
Table 45 Asia Pacific Composites Market Revenue (USD Million) By Applications (2024-2032)
Table 46 South America Composites Market Revenue (USD Million) By Country (2024-2032)
Table 47 South America Composites Market Revenue (USD Million) By Type (2024-2032)
Table 48 South America Composites Market Revenue (USD Million) By Applications (2024-2032)
Table 49 Middle East and Africa Composites Market Revenue (USD Million) By Region (2024-2032)
Table 50 Middle East and Africa Composites Market Revenue (USD Million) By Region (2024-2032)
Table 51 Middle East and Africa Composites Market Revenue (USD Million) By Type (2024-2032)
Table 52 Middle East and Africa Composites Market Revenue (USD Million) By Applications (2024-2032)
Table 53 Research Programs/Design for This Report
Table 54 Key Data Information from Secondary Sources
Table 55 Key Data Information from Primary Sources
List of Figures
Figure 1 Market Scope
Figure 2 Porter’s Five Forces
Figure 3 Global Composites Market Revenue (USD Million) By Type (2018-2023)
Figure 4 Global Composites Market Revenue Market Share (%) By Type (2023)
Figure 5 Global Composites Market Revenue (USD Million) By Applications (2018-2023)
Figure 6 Global Composites Market Revenue Market Share (%) By Applications (2023)
Figure 7 Global Composites Market Revenue (USD Million) By Regions (2018-2023)
Figure 8 Global Composites Market Share (%) By Regions (2023)
Figure 9 North America Composites Market Revenue (USD Million) By Country (2018-2023)
Figure 10 North America Composites Market Revenue (USD Million) By Type (2018-2023)
Figure 11 North America Composites Market Revenue (USD Million) By Applications (2018-2023)
Figure 12 Europe Composites Market Revenue (USD Million) By Country (2018-2023)
Figure 13 Europe Composites Market Revenue (USD Million) By Type (2018-2023)
Figure 14 Europe Composites Market Revenue (USD Million) By Applications (2018-2023)
Figure 15 Asia Pacific Composites Market Revenue (USD Million) By Country (2018-2023)
Figure 16 Asia Pacific Composites Market Revenue (USD Million) By Type (2018-2023)
Figure 17 Asia Pacific Composites Market Revenue (USD Million) By Applications (2018-2023)
Figure 18 South America Composites Market Revenue (USD Million) By Country (2018-2023)
Figure 19 South America Composites Market Revenue (USD Million) By Type (2018-2023)
Figure 20 South America Composites Market Revenue (USD Million) By Applications (2018-2023)
Figure 21 Middle East and Africa Composites Market Revenue (USD Million) By Region (2018-2023)
Figure 22 Middle East and Africa Composites Market Revenue (USD Million) By Type (2018-2023)
Figure 23 Middle East and Africa Composites Market Revenue (USD Million) By Applications (2018-2023)
Figure 24 Global Composites Market Revenue (USD Million) By Type (2024-2032)
Figure 25 Global Composites Market Revenue Market Share (%) By Type (2030)
Figure 26 Global Composites Market Revenue (USD Million) By Applications (2024-2032)
Figure 27 Global Composites Market Revenue Market Share (%) By Applications (2030)
Figure 28 Global Composites Market Revenue (USD Million) By Regions (2024-2032)
Figure 29 North America Composites Market Revenue (USD Million) By Country (2024-2032)
Figure 30 North America Composites Market Revenue (USD Million) By Type (2024-2032)
Figure 31 North America Composites Market Revenue (USD Million) By Applications (2024-2032)
Figure 32 Europe Composites Market Revenue (USD Million) By Country (2024-2032)
Figure 33 Europe Composites Market Revenue (USD Million) By Type (2024-2032)
Figure 34 Europe Composites Market Revenue (USD Million) By Applications (2024-2032)
Figure 35 Asia Pacific Composites Market Revenue (USD Million) By Country (2024-2032)
Figure 36 Asia Pacific Composites Market Revenue (USD Million) By Type (2024-2032)
Figure 37 Asia Pacific Composites Market Revenue (USD Million) By Applications (2024-2032)
Figure 38 South America Composites Market Revenue (USD Million) By Country (2024-2032)
Figure 39 South America Composites Market Revenue (USD Million) By Type (2024-2032)
Figure 40 South America Composites Market Revenue (USD Million) By Applications (2024-2032)
Figure 41 Middle East and Africa Composites Market Revenue (USD Million) By Region (2024-2032)
Figure 42 Middle East and Africa Composites Market Revenue (USD Million) By Region (2024-2032)
Figure 43 Middle East and Africa Composites Market Revenue (USD Million) By Type (2024-2032)
Figure 44 Middle East and Africa Composites Market Revenue (USD Million) By Applications (2024-2032)
Figure 45 Bottom-Up and Top-Down Approaches for This Report
Figure 46 Data Triangulation
By Process
By Product
By End-use
By Region
The global Composites Market is one of the lucrative growth markets, poised to register a 8.9% growth (CAGR) between 2024 and 2030.
Emerging Markets across Asia Pacific, Europe, and Americas present robust growth prospects.
China Jushi Co Ltd Compagnie de Saint-Gobain S.A Cytec Industries (Solvay, S.A.) DuPont Hexcel Corporation Huntsman Corporation LLC Kineco Limited Momentive Performance Materials Inc Owens Corning PPG Industries Inc SGL Group Teijin Ltd Toray Industries Inc Veplas Group Weyerhaeuser Company
Base Year- 2023; Estimated Year- 2024; Historic Period- 2018-2023; Forecast period- 2024 to 2030; Currency: USD; Volume