Composites Market Demand, Share, Demand and Future Business Opportunities 2034
Composites Market Growth, Size, Trends Analysis - By Product, By Manufacturing Process, By End-User - Regional Outlook, Competitive Strategies and Segment Forecast to 2034
| Published: Apr-2025 | Report ID: CHEM2528 | Pages: 1 - 289 | Formats*: |
| Category : Chemical & Materials | |||
Composites Market Introduction and Overview
According to SPER Market Research, the Global Composites Market is estimated to reach USD 222.15 billion by 2034 with a CAGR of 7.46%.
The report includes an in-depth analysis of the Global Composites Market, including market size and trends, product mix, Applications, and supplier analysis.
The global composites market was valued at USD 108.19 billion in 2024 and is expected to grow at a rate of 7.46% from 2025 to 2034. This growth is due to increased demand for lightweight parts in the automotive and transportation sectors. Additionally, the use of advanced lightweight materials in manufacturing is expected to boost market growth. Composites are also used in aerospace and defense to reduce the weight of military aircraft, improving fuel efficiency and performance, which will drive industry growth.
By Product Insights: Glass fiber led the market and accounted for the largest revenue share in 2024. Glass fibers are mainly used as a raw material for composites because of their high tensile strength, rigidity, and lightweight. They also have excellent impact resistance, making them crucial for composite manufacturing. Carbon fiber reinforced polymer is created when carbon fiber is combined with plastic resin. These materials are commonly used in both interior and exterior applications in the aircraft sector. CFRP composites are lightweight, have high tensile strength, enhance fuel efficiency, require less maintenance, and help manufacturers meet strict environmental regulations in Europe and North America.
By Manufacturing Process Insights: The layup process led the market in 2024 and had the largest revenue share. The growth of the layup process segment in the global composites market is expected to increase due to rising production of boats, wind turbine blades, and architectural moldings. Wet layup processes create various shapes and sizes of composite products for uses like marine prototypes and storage tanks at a lower production cost. Dry layup processes use prepregs with resins absorbed in fibers, which are then molded under high temperature and pressure. The filament winding technique produces hollow, circular parts for devices like pipes and tanks, using fibers wound over a mandrel, benefiting energy and consumer product industries.
By End-User Insights: The automotive and transportation segment led the market and had the largest revenue share in 2024. Composites are used in vehicles like cars, trucks, buses, and motorcycles to create strong, lightweight parts instead of metal. They provide the same stiffness and strength as metals but are lighter, helping to make lighter components. In the wind energy sector, composites are used to keep blade weight low and provide benefits like fire resistance, corrosion resistance, design flexibility, and durability. Wind energy is expected to be the fastest-growing segment in the composites market due to more use of composites and the increasing number of wind energy farms.
Regional Insights: The Asia Pacific region dominates the global composites market due to major producers of glass fiber and carbon fiber in China and Japan, along with developing economies in India and China. The wind energy sector is expanding significantly, making it a key consumer of composites. Additionally, the transportation industry is growing, especially as manufacturers focus more on electric vehicles. These factors contribute to the rising demand for composites in the region.
Market Competitive Landscape
The competitive landscape of the industry is somewhat fragmented, with various global and regional firms participating. Owens Corning, Toray Industries, Inc, Teijin Limited, Hexcel Corporation, and Solvay are among the market's leading participants. These companies invest much in research and development to innovate and improve their product offerings. Adopting various strategic advances, including as expansion and joint ventures, also gives them a competitive advantage in the market. Furthermore, significant firms are focussing on securing long-term supply contracts with end users to safeguard the growth of their business.
Recent Developments:
- In April 2024, Aurora Flight Sciences, a Boeing Company in Bridgeport, West Virginia, expanded its manufacturing facility by nearly 50,000 square feet to support growth in high-quality composite components and assemblies for aerospace.
- In March 2024, Toray Advanced Composites launched the Toray Cetex TC915 PA+ product. It is suitable for sporting goods, industrial uses, automotive structures, energy, Urban Air Mobility, and Unmanned Aerial Systems.
- In June 2023, Solvay will collaborate with Spirit AeroSystems. Both firms will be involved in composite development. This combination would result in joint research on sustainable aviation technologies and processes with Spirit's industrial, academic, and supply-chain partners.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2021-2034 |
| Base year considered | 2024 |
| Forecast period | 2025-2034 |
| Segments covered | By Product, By Manufacturing Process, By End-User. |
| Regions covered | North America, Latin America, Asia-Pacific, Europe, and Middle East & Africa. |
| Companies Covered | Teijin Ltd, Toray Industries, Inc, Owens Corning, PPG Industries, Inc, Huntsman Corporation LLC, SGL Group, Hexcel Corporation, DuPont, Compagnie de Saint-Gobain S.A, Weyerhaeuser Company, Momentive Performance Materials, Inc, Cytec Industries (Solvay, S.A.), China Jushi Co., Ltd, Kineco Limited. |
Key Topics Covered in the Report
- Global Composites Market Size (FY’2021-FY’2034)
- Overview of Global Composites Market
- Segmentation of Global Composites Market By Product (Carbon Fiber, Glass Fiber, Natural fiber, Others)
- Segmentation of Global Composites Market By Manufacturing Process (Layup Process, Filament Winding Process, Injection Molding Process, Pultrusion Process, Compression Molding Process, Resin Transfer Molding Process, Others)
- Segmentation of Global Composites Market By End-User (Aerospace & Defense, Automotive & Transportation, Construction & Infrastructure, Wind Energy, Electrical & Electronics, Construction and Infrastructure, Pipes & Tanks, Marine, Others)
- Statistical Snap of Global Composites Market
- Expansion Analysis of Global Composites Market
- Problems and Obstacles in Global Composites Market
- Competitive Landscape in the Global Composites Market
- Details on Current Investment in Global Composites Market
- Competitive Analysis of Global Composites Market
- Prominent Players in the Global Composites Market
- SWOT Analysis of Global Composites Market
- Global Composites Market Future Outlook and Projections (FY’2025-FY’2034)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPERs internal database2.1.4. Premium insight from KOLs
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape
5.3. PORTERs Five Forces
5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Composites Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Composites Market
7. Global Composites Market, By Product (USD Million) 2021-2034
7.1. Carbon Fiber7.2. Glass Fiber7.3. Natural fiber7.4. Others
8. Global Composites Market, By Manufacturing Process (USD Million) 2021-2034
8.1. Layup Process8.2. Filament Winding Process8.3. Injection Molding Process8.4. Pultrusion Process8.5. Compression Molding Process8.6. Resin Transfer Molding Process8.7. Others
9. Global Composites Market, By End-User (USD Million) 2021-2034
9.1. Aerospace & Defense9.2. Automotive & Transportation9.3. Construction & Infrastructure9.4. Wind Energy9.5. Electrical & Electronics9.6. Construction and Infrastructure9.7. Pipes & Tanks9.8. Marine9.9. Others
10. Global Composites Market, (USD Million) 2021-2034
10.1. Global Composites Market Size and Market Share
11. Global Composites Market, By Region, (USD Million) 2021-2034
11.1. Asia-Pacific
11.1.1. Australia11.1.2. China11.1.3. India11.1.4. Japan11.1.5. South Korea11.1.6. Rest of Asia-Pacific
11.2. Europe
11.2.1. France11.2.2. Germany11.2.3. Italy11.2.4. Spain11.2.5. United Kingdom11.2.6. Rest of Europe
11.3. Middle East and Africa
11.3.1. Kingdom of Saudi Arabia11.3.2. United Arab Emirates11.3.3. Qatar11.3.4. South Africa11.3.5. Egypt11.3.6. Morocco11.3.7. Nigeria11.3.8. Rest of Middle-East and Africa
11.4. North America
11.4.1. Canada11.4.2. Mexico11.4.3. United States
11.5. Latin America
11.5.1. Argentina11.5.2. Brazil11.5.3. Rest of Latin America
12. Company Profile
12.1. Teijin Ltd
12.1.1. Company details12.1.2. Financial outlook12.1.3. Product summary12.1.4. Recent developments
12.2. Toray Industries, Inc
12.2.1. Company details12.2.2. Financial outlook12.2.3. Product summary12.2.4. Recent developments
12.3. Owens Corning
12.3.1. Company details12.3.2. Financial outlook12.3.3. Product summary12.3.4. Recent developments
12.4. PPG Industries, Inc
12.4.1. Company details12.4.2. Financial outlook12.4.3. Product summary12.4.4. Recent developments
12.5. Huntsman Corporation LLC
12.5.1. Company details12.5.2. Financial outlook12.5.3. Product summary12.5.4. Recent developments
12.6. SGL Group
12.6.1. Company details12.6.2. Financial outlook12.6.3. Product summary12.6.4. Recent developments
12.7. Hexcel Corporation
12.7.1. Company details12.7.2. Financial outlook12.7.3. Product summary12.7.4. Recent developments
12.8. DuPont
12.8.1. Company details12.8.2. Financial outlook12.8.3. Product summary12.8.4. Recent developments
12.9. Compagnie de Saint-Gobain S.A
12.9.1. Company details12.9.2. Financial outlook12.9.3. Product summary12.9.4. Recent developments
12.10. Weyerhaeuser Company
12.10.1. Company details12.10.2. Financial outlook12.10.3. Product summary12.10.4. Recent developments
12.11. Momentive Performance Materials, Inc
12.11.1. Company details12.11.2. Financial outlook12.11.3. Product summary12.11.4. Recent developments
12.12. Cytec Industries (Solvay, S.A)
12.12.1. Company details12.12.2. Financial outlook12.12.3. Product summary12.12.4. Recent developments
12.13. China Jushi Co., Ltd
12.13.1. Company details12.13.2. Financial outlook12.13.3. Product summary12.13.4. Recent developments
12.14. Kineco Limited
12.14.1. Company details12.14.2. Financial outlook12.14.3. Product summary12.14.4. Recent developments
12.15. Others
13. Conclusion
14. List of Abbreviations
15. Reference Links
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Composites Market is projected to reach USD 222.15 billion by 2034, growing at a CAGR of 7.46% during the forecast period.
Composites Market grew in Market size from 2025. The Market is expected to reach USD 222.15 billion by 2034, at a CAGR of 7.46% during the forecast period.
Composites Market CAGR of 7.46% during the forecast period.
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Composites Market size is USD 222.15 billion from 2025 to 2034.
Composites Market is covered By Product, By Function, By Application, By End-User.
The North America is anticipated to have the highest Market share in the Composites Market.
The key players in the Market include Companies Covered Teijin Ltd, Toray Industries, Inc, Owens Corning, PPG Industries, Inc, Huntsman Corporation LLC, SGL Group, Hexcel Corporation, DuPont, Compagnie de Saint-Gobain S.A, Weyerhaeuser Company, Momentive Performance Materials, Inc, Cytec Industries (Solvay, S.A.), China Jushi Co., Ltd, Kineco Limited.
This growth is due to increased demand for lightweight parts in the automotive and transportation sectors. Additionally, the use of advanced lightweight materials in manufacturing is expected to boost market growth. Composites are also used in aerospace and defense to reduce the weight of military aircraft, improving fuel efficiency and performance, which will drive industry growth.
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