Automotive And Aerospace Sectors Fuel Expansion Of Composites Market: A Key Driver Powering Composites Market Growth In 2025

The Composites Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Current Composites Market Size and Its Estimated Growth Rate?
In recent times, there's been significant growth in the size of the composites market. This market, which is expected to leap from $105.74 billion in 2024 to $116.25 billion in 2025, predicts a Compound Annual Growth Rate (CAGR) of 9.9%. This positive trend in the historic period can be traced back to increased consciousness about the environmental advantages of using composites, heightened demand for fuel-efficient vehicles, the surge in the requirement for composites in the construction sector, expansion in wind energy, and increased corrosion resistance in the chemical industry.

The market for composites is anticipated to witness robust expansion in the coming years, with its market value projected to reach $169.92 billion by 2029, growing at a Compound Annual Growth Rate (CAGR) of 10.0%. This surge within the forecast period can be tied to factors such as the increased proliferation of electric vehicles, infrastructure renovation, heightened usage in the marine sector, and initiatives focused on space exploration as well as a growing demand for composites in the defense sector. Noteworthy trends within this period are the development of bio-based composites, smart composites, emphasis on recycling and the circular economy, the application of digital twin technology and hybrid composites.

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How Are Emerging Segments Shaping the Composites Market Landscape?
The composites market covered in this report is segmented -

1) By Product: Carbon Fiber, Glass Fiber
2) By Manufacturing Process: Layup Process, Filament Winding Process, Injection Molding Process, Pultrusion Process, Compression Molding Process, Resin Transfer Molding Process, Other Processes
3) By Resin Type: Thermoset Composites, Thermoplastic Composites
4) By End-Use Industry: Aerospace and defense, Wind Energy, Automotive and Transportation, Construction & Infrastructure, Marine, Pipe and Tank, Electrical and Electronics, Other End-Users

Subsegments:
1) By Carbon Fiber: Prepreg Carbon Fiber, Continuous Carbon Fiber, Short Carbon Fiber
2) By Glass Fiber: E-Glass Fiber, S-Glass Fiber, C-Glass Fiber

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Which Growth Factors Are Influencing Composites Market Expansion?
The expansion of the composites market is anticipated to be driven by growth in the automotive and aerospace sectors. Composites, used extensively in both these industries, offer enhanced performance, resistance to corrosion, and fuel efficiency. For example, data from the Aerospace Industries Association (AIA), a trade association for makers and distributors of various vehicles and systems in America, indicates that exports from the A&D sector rose by 11.2% to a total value of $100.4 billion in 2022. Moreover, the Indian Brand Equity Foundation (IBEF) reports that the Indian automobile exports reached 1,419,430 units from April 2021 to June 2021, a significant increase from the 436,500 units exported during the same period in the previous year. As a result of these trends in the automotive and aerospace sectors, the composites market is set to enjoy robust growth.

Who Are the Dominant Players Across Different Composites Market Segments?
Major companies 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., UBE Industries Ltd., Kyocera Corporation, Speciality Materials Inc., Safran SA, Mitsubishi Rayon Carbon Fiber & Composites Inc., Johns Manville International Inc., Asahi Fibreglass Company, Owens Corning Fiberglass Company, China Fibreglass Company, Teijin Limited, Taishan Fibreglass SA, Kurarey Co. Ltd., Formosa Plastic Corp., Toray Industries Inc., DuPont de Nemours Inc., Nippon Sheet Glass Co. Ltd., Korea Nylon Inc., KCC Corporation, SAERTEX Wagener GmbH & Co. KG, Taiwan Glass Industry Corporation, Solvay SA, BASF SE, Huntsman Corporation LLC, TPI Composites Inc., Gurit Holding AG

What Are the Latest Developing Trends in the Composites Market?
Chief firms in the composites market are concentrating on technological progress, featuring composite materials which are light and sturdy, aiming to serve sectors including aerospace, automotive and renewable energy. HexForce 1K woven reinforcement fabric, a leading-edge composite material, has been constructed for augmented durability and power and is normally deployed in a range of industrial utilization, such as automotive and aerospace sectors. For example, in September 2024, Hexcel Corporation, a US firm specialized in production of composite materials, reinforcement products, and engineered products, introduced its novel HexForce 1K woven reinforcement fabric. This high-strength and low-weight fabric makes use of Hexcel's unique HexTow AS4C 1K carbon fiber to facilitate the creation of high-strength, low-weight composite materials. These fabrics are deemed suitable for various industrial uses, ranging from golf shafts, hockey sticks to automotive components.

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Which Geographic Regions Are Expected to Dominate the Composites Market in the Coming Years?
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, Africa

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Composites Market?
2. What is the CAGR expected in the Composites Market?
3. What Are the Key Innovations Transforming the Composites Industry?
4. Which Region Is Leading the Composites Market?

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