Press release
Composites Market Global Report 2025: Trends, Growth Drivers, and Forecast To 2034
Composites Market
Leveraging Composites to Drive Innovation in Automobile, Aerospace, and Infrastructure
What Is The Projected Market Size Of The Global Composites Market And Its Growth Rate?
The global composites market has been enjoying robust growth and is set to continue this upward trajectory. Key statistics of this market are:
- Market Size in 2024: $105.74 billion
- Market Size in 2025: $116.25 billion (9.9% CAGR)
- Expected Market Size in 2029: $169.92 billion (10.0% CAGR)
This strong growth can be attributed to the increased awareness of environmental benefits of composites, growing demand for fuel-efficient vehicles, rise in demand for composites in the construction industry, increasing use in marine industry, space exploration initiatives, etc.
What Is Driving The Growth In The Composites Market?
The impressive growth in the composites market is largely driven by the surge in automotive and aerospace sectors. Usage of composites for improved performance, corrosion resistance, and fuel savings has been instrumental in driving the market growth. For instance, a significant increase in exports in the A&D business was recorded by the Aerospace Industries Association (AIA) in November 2022. Also, the Indian automobile exports recorded a substantial increase from April 2021 to June 2021 compared to the same period in the previous year, according to IBEF.
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Who Are the Key Players Driving Composites Market Growth?
Major players operating in the composites market include:
- General Electric Company
- Rolls-Royce plc
- SGL Carbon Graphite Technic Co. Ltd.
- Axiom Materials Inc.
- Minnesota Mining and Manufacturing Company
- COI Ceramics Inc.
- CoorsTek Inc.
- Applied Thin Films Inc.
- Ultramet Technologies Limited
- CFC Carbon Co. Ltd.
What Are The Key Trends In The Composites Market?
Several key trends are shaping the composites market:
- Bio-based composites
- Smart composites
- Recycling and circular economy
- Digital twin technology
- Hybrid composites
What Are The Segments Of The Global Composites Market?
The composites market segments include:
- By Product: Carbon Fiber, Glass Fiber
- By Manufacturing Process: Layup Process, Filament Winding Process, Injection Molding Process, Pultrusion Process etc.
- By Resin Type: Thermoset Composites, Thermoplastic Composites
- By End-Use Industry: Aerospace and defense, Wind Energy, Automotive and Transportation, Construction & Infrastructure etc.
Which Region Leads The Composites Market?
Asia-Pacific was the largest region in the composites market in 2024 and is also expected to be the fastest-growing region in the forecast period. The regions covered in the composites market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Composites Market Global Market Report?
- Market Size Analysis: Analyze the Composites Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Composites Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Composites Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Composites Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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