Global Composites Market Growth, Share, Size, Trends and Forecast (2025 - 2031)

• Dublin City Council has approved an economic development partnership with INEOS Composites, a company specializing in producing and distributing various grades of unsaturated polyester, vinyl ester resins, and gelcoats.

• In October 2023, Gurit announced signing four-year and three-year supply agreements for core material kits with two leading Wind Turbine Original Equipment Manufacturers (OEMs).

• Owens Corning, in October 2022, announced a $24.5 million investment in machinery and new construction at its new manufacturing facility in Fort Smith. This expansion is set to create 50 jobs. In early 2021, construction began on a 550,000-square-foot plant on Planter Road adjacent to Owens Corning's existing Fort Smith facility. The new plant will manufacture fiberglass composites, insulation, and roofing materials.

In this report, the Composites Market has been segmented by Fiber Type, Resin Type, Manufacturing Process, End-Use Industry and Geography.

Composites Market, Segmentation by Fiber Type

The Composites Market has been segmented by Fiber Type into Glass Fiber Composites, Carbon Fiber Composites, Natural Fiber Composites, and Others.

Glass Fiber Composites

Glass fiber composites are extensively utilized in the composites industry due to their cost-effectiveness, high strength-to-weight ratio, and corrosion resistance. These materials are commonly applied in sectors such as automotive, construction, and wind energy. In 2024, glass fiber composites accounted for approximately 61% of the global composites market share.

Carbon Fiber Composites

Carbon fiber composites are renowned for their exceptional strength, lightweight properties, and durability. They are predominantly used in aerospace, automotive, and sports equipment industries. As of 2023, carbon fiber composites held approximately 43% of the global market share.

Natural Fiber Composites

Natural fiber composites, derived from renewable resources like hemp, flax, and jute, offer environmentally friendly alternatives with good mechanical properties. They are increasingly adopted in automotive and construction applications. In 2023, natural fiber composites accounted for over 60% of the market revenue in their segment.

Others

This category encompasses various specialized fibers such as aramid and basalt fibers, which are utilized in applications requiring high thermal resistance and impact strength. Collectively, these fibers contribute to the remaining 5% of the global composites market share.

Composites Market, Segmentation by Resin Type

The Composites Market has been segmented by Resin Type into Thermoset Composites and Thermoplastic Composites.

Thermoset Composites

Thermoset composites are widely utilized in industries requiring high strength, thermal stability, and chemical resistance. Once cured, these materials cannot be remolded, making them ideal for applications in aerospace, automotive, and construction. In 2023, thermoset composites accounted for approximately 65% of the global composites market share.

Thermoplastic Composites

Thermoplastic composites are known for their recyclability, impact resistance, and ease of processing. These materials can be reheated and reshaped, making them suitable for applications in automotive, aerospace, and consumer goods. As of 2023, thermoplastic composites held about 35% of the global composites market share.

Composites Market, Segmentation by Manufacturing Process

The Composites Market has been segmented by Manufacturing Process into Lay-Up Process, Filament Winding Process, Injection Molding Process, Pultrusion Process, Compression Molding Process, Resin Transfer Molding (RTM) Process and Others.

Lay-Up Process

The lay-up process, encompassing both hand lay-up and spray-up techniques, is widely utilized for producing large composite structures such as boat hulls and wind turbine blades. Despite being labor-intensive, it offers cost-effective solutions for low to medium volume production. This method accounts for approximately 30% of the composites manufacturing market.

Filament Winding Process

Filament winding is a highly automated process ideal for creating cylindrical structures like pipes and pressure vessels. It provides high strength-to-weight ratios and precise fiber placement, making it suitable for high-performance applications. This process contributes to about 15% of the composites manufacturing market.

Injection Molding Process

Injection molding is favored for its high production efficiency and ability to produce complex shapes with tight tolerances. Commonly used in the automotive and consumer goods sectors, it supports mass production of composite parts. Injection molding holds approximately 20% of the composites manufacturing market share.

Pultrusion Process

Pultrusion is a continuous process used to manufacture constant cross-section profiles such as rods, beams, and channels. It offers high mechanical properties and consistent quality, making it ideal for infrastructure and construction applications. Pultrusion accounts for around 10% of the composites manufacturing market.

Compression Molding Process

Compression molding is suitable for producing large, intricate parts with high strength and dimensional stability. It is widely used in the automotive and electrical industries for components like body panels and electrical housings. This process represents about 12% of the composites manufacturing market.

Resin Transfer Molding (RTM) Process

RTM is a closed-mold process that enables the production of complex, high-performance parts with excellent surface finish. It is commonly applied in the aerospace and automotive sectors for manufacturing structural components. RTM contributes approximately 8% to the composites manufacturing market.

Others

This category includes various specialized processes such as vacuum infusion and automated fiber placement, which cater to specific application requirements. Collectively, these methods make up the remaining 5% of the composites manufacturing market.

Composites Market, Segmentation by End-Use Industry

The Composites Market has been segmented by End-Use Industry into Transportation, Aerospace & Defense, Wind Energy, Construction & Infrastructure, Pipe & Tank, Marine, Electrical & Electronics and Others.

Transportation

Composites are extensively utilized in the transportation sector due to their lightweight and high-strength properties, which contribute to improved fuel efficiency and reduced emissions. Applications include automotive components, rail vehicles, and commercial vehicles. In 2024, the transportation segment accounted for approximately 22% of the global composites market share.

Aerospace & Defense

The aerospace and defense industry leverages composites for their exceptional strength-to-weight ratio and corrosion resistance, enhancing aircraft performance and fuel efficiency. Composites are integral in manufacturing aircraft structures, missile components, and defense equipment. This segment is projected to experience significant growth, contributing to the overall expansion of the composites market.

Wind Energy

In the wind energy sector, composites are crucial for constructing lightweight and durable turbine blades, which enhance energy efficiency and reduce maintenance costs. The demand for renewable energy solutions has propelled the adoption of composites in this industry, making it a significant contributor to the market's growth.

Construction & Infrastructure

Composites are increasingly used in construction and infrastructure projects due to their corrosion resistance, lightweight nature, and durability. Applications include bridges, buildings, and reinforcement materials. The construction & infrastructure segment holds a substantial share in the composites market, driven by the need for sustainable and long-lasting building materials.

Pipe & Tank

In the pipe and tank industry, composites offer advantages such as corrosion resistance, lightweight, and ease of installation. They are commonly used in chemical storage tanks, water treatment facilities, and industrial piping systems. This segment represents a notable portion of the composites market, catering to various industrial applications.

Marine

The marine industry utilizes composites for constructing boat hulls, decks, and other structural components due to their resistance to corrosion and lightweight properties. Composites contribute to improved fuel efficiency and performance in marine vessels. This segment continues to grow as the demand for durable and efficient marine solutions increases.

Electrical & Electronics

In the electrical and electronics industry, composites are employed for their insulating properties, thermal stability, and lightweight characteristics. Applications include circuit boards, enclosures, and insulating components. This segment plays a vital role in the composites market, supporting the development of advanced electronic devices.

Others

The 'Others' category encompasses various industries such as consumer goods, medical devices, and sports equipment, where composites are valued for their versatility and performance. These applications contribute to the diversification and expansion of the composites market, addressing a wide range of consumer and industrial needs.

Composites Market, Segmentation by Geography

In this report, the Composites Market has been segmented by Geography into five regions; North America, Europe, Asia Pacific, Middle East and Africa and Latin America.

Composites Market Share (%), by Geographical Region

North America

North America holds a significant position in the global composites market, driven by robust demand from the aerospace and automotive industries. The region accounted for approximately 21.7% of the global composites market in 2022. The presence of major manufacturers and continuous investments in research and development contribute to the market's growth in this region.

Europe

Europe is a prominent player in the composites industry, with increasing adoption in sectors such as automotive, wind energy, and construction. The region's focus on sustainability and lightweight materials has propelled the demand for composites. In 2021, Europe held the second-largest market share globally, driven by stringent environmental regulations and advancements in composite technologies.

Asia Pacific

The Asia Pacific region dominates the global composites market, accounting for approximately 46% of the market share in 2025. Rapid industrialization, urbanization, and the presence of key manufacturers in countries like China, India, and Japan contribute to this growth. The region's expanding automotive, aerospace, and construction industries are major consumers of composite materials.

Middle East and Africa

The Middle East and Africa region is experiencing growth in the composites market due to increasing investments in infrastructure and the oil and gas sector. Composites are favored for their corrosion resistance and durability in harsh environments. In 2022, the region accounted for approximately 5.2% of the global composites market.

Latin America

Latin America is witnessing a steady rise in the adoption of composites, particularly in the automotive, aerospace, and construction sectors. Countries like Brazil and Mexico are leading the region's market growth, driven by infrastructure development and increasing demand for lightweight materials. The region is expected to showcase considerable growth in the global composites market during the forecast period.

This report provides an in depth analysis of various factors that impact the dynamics of Global Composites Market. These factors include; Market Drivers, Restraints and Opportunities Analysis.

Drivers

• Lightweighting in automotive industry
• Increasing use in aerospace applications
• Demand for corrosion-resistant materials

• Growth in wind energy sector: The global composites market is experiencing significant growth, driven in part by the expanding wind energy sector. Composites, such as fiberglass and carbon fiber reinforced polymers (CFRP), play a crucial role in wind turbine construction due to their lightweight nature, high strength-to-weight ratio, and resistance to corrosion. As the demand for renewable energy sources escalates worldwide, wind power has emerged as a key contributor, further boosting the demand for composites.

  In wind energy applications, composites are primarily used in the manufacturing of wind turbine blades. These blades must withstand harsh environmental conditions while maximizing energy output. Composites offer the advantage of being able to be molded into complex shapes, allowing for aerodynamic designs that enhance turbine efficiency. Moreover, their durability and resistance to fatigue make composites ideal for ensuring the long-term reliability of wind turbines, thereby reducing maintenance costs and extending operational lifespans.

  Market dynamics indicate a growing preference for composites over traditional materials like steel in wind turbine blade production. This shift is driven by the need for larger and more efficient turbines capable of harnessing stronger winds at higher altitudes. Manufacturers are investing in research and development to innovate composite materials that offer superior performance characteristics, including enhanced stiffness and reduced weight, crucial for optimizing turbine performance and reducing overall installation and operational costs.

Restraints

• High raw material costs
• Complexity in recycling composites
• Regulatory challenges in applications

• Limited fire retardancy in some: The global composites market has witnessed significant growth across various industries due to their lightweight, high-strength properties, and versatility. However, a notable concern in the use of composites, particularly in sectors requiring stringent fire safety standards such as aerospace, construction, and automotive industries, is their limited fire retardancy. This issue stems from the inherent flammability of some composite materials, which can pose safety risks and regulatory challenges if not properly addressed.

  In aerospace applications, where composites are extensively used to reduce weight and enhance fuel efficiency, ensuring fire safety is paramount. While advanced resin systems and additives can improve fire resistance, achieving adequate fire retardancy without compromising other desirable properties like weight and durability remains a challenge. Composite materials used in aircraft interiors, for instance, must adhere to stringent fire safety regulations to mitigate the risk of fire propagation and ensure passenger safety.

  In the construction industry, composites are increasingly favored for their durability and design flexibility. However, concerns about fire safety have led to the development of composite materials with enhanced fire-retardant properties. Intumescent coatings, fire-resistant additives, and modified resin systems are among the strategies employed to improve the fire performance of composites used in building facades, interior structures, and infrastructure projects. Despite these advancements, balancing fire safety requirements with cost-effectiveness and sustainability remains a critical consideration for architects, developers, and regulatory bodies.

Opportunities

• Advancements in nanocomposites technology
• Expansion in construction applications
• Rise in renewable energy projects

• Development of bio-based composites: Bio-based composites are gaining significant traction in the global composites market due to their eco-friendly properties and sustainability benefits. These composites utilize natural fibers such as hemp, flax, jute, and kenaf, combined with bio-based resins derived from renewable sources like soybean oil, starch, or recycled polymers. The development of bio-based composites addresses growing environmental concerns, offering reduced carbon footprint compared to traditional petroleum-based counterparts. This shift aligns with global initiatives towards sustainability, driving industries to adopt greener materials across various applications.

  In terms of market development, the bio-based composites sector is witnessing substantial investment and innovation. Manufacturers are increasingly focusing on enhancing the mechanical properties and durability of bio-based materials to expand their applicability in industries such as automotive, construction, aerospace, and consumer goods. Research and development efforts are directed towards optimizing the manufacturing processes and improving composite formulations to meet stringent performance standards. This ongoing evolution is supported by collaborations between academic institutions, research organizations, and industry players, fostering technological advancements and scalability in bio-based composite production.

  The market outlook for bio-based composites is promising, driven by regulatory support promoting sustainable practices and rising consumer demand for environmentally friendly products. Governments worldwide are incentivizing the adoption of bio-based materials through policies and funding initiatives aimed at reducing dependence on fossil fuels and mitigating environmental impact. As awareness grows regarding the benefits of bio-based composites, their integration into mainstream manufacturing processes is expected to accelerate, offering a viable solution for achieving long-term sustainability goals while maintaining product performance and cost competitiveness in the global composites market.

Key players in Global Composites Market include:

• Toray Industries
• Owens Corning
• Hexcel Corporation
• Teijin Limited
• Solvay S.A
• Mitsubishi Chemical Corporation
• SGL Carbon SE
• Gurit Holding AG
• Huntsman Corporation
• AOC Resins

In this report, the profile of each market player provides following information:

• Company Overview and Product Portfolio
• Key Developments
• Financial Overview
• Strategies
• Company SWOT Analysis