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Global Polymer Matrix Composites Market Size, Share, and Forecast Analysis 2025-2029
Polymer Matrix Composites Market
What Are the Polymer Matrix Composites Market Size Forecast for 2025?
Over the past few years, the polymer matrix composites market has been expanding significantly. The market size is projected to increase from $18.49 billion in 2024 to $19.93 billion in 2025, with a compound annual growth rate (CAGR) of 7.7%. This upward trend during the historical period can be credited to the rising emphasis on fuel efficiency, heightened demand for electric vehicles (EVS), growing preference for durable and low-maintenance construction, the expansion of consumer electronics and sports equipment, and the surging demand for superior materials in defense applications.
What Is the Market Size Outlook for Polymer Matrix Composites Until 2029?
In the coming years, the polymer matrix composites market is predicted to experience significant growth, anticipated to reach a value of $28.12 billion by 2029, with a compound annual growth rate (CAGR) of 9.0%. This predicted growth in the stated period can be credited to numerous factors such as advancements in the marine industry, industrial globalization, the application of regulatory and safety standards, modernization of infrastructure, and the expansion of educational programs. Trends that are projected to shape the forecast period encompass improved simulation and modeling, the evolution of advanced resin systems, the progress in computational tools, the adoption of the internet of things (IoT), and dynamic load management.
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What Are the Major Factors Driving Demand in the Polymer Matrix Composites Market?
The expansion of the aerospace sector is predicted to stimulate the growth of the polymer matrix composites market in the future. The aerospace sector deals with the creation, production and upkeep of aircraft, spacecraft and related systems and equipment. This surge in the aerospace industry is a result of technological advancements, growing demand for air travel and satellite services, and manufacturing and material innovation. Lightweight, robust materials provided by polymer matrix composites are aiding the aerospace industry by enhancing fuel efficiency, performance and aerospace structures' durability and intricacy. For instance, as indicated by Airbus SE, a Dutch aerospace company, in January 2023, there was an 8% increase in aircraft deliveries in 2022, reaching a sum of 661 compared to 611 deliveries in 2021. Consequently, the expansion in the aerospace industry is fueling the polymer matrix composites market's growth.
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How Are End-Use Segments Shaping the Polymer Matrix Composites Market Outlook?
The polymer matrix composites market covered in this report is segmented -
1) By Type: Polycarbonates, Polypropylenes, Polyamides, Acrylonitrile-Butadiene Styrenes
2) By Product: Glass Fiber Reinforced Polymers, Carbon Fiber Reinforced Polymers, Aramid Fiber Composites, Natural Fiber Composites
3) By End-User Industry: Aerospace, Sporting Equipment, Automotive, Defense, Healthcare, Construction, Shipbuilding, Electrical And Electronics Industry, Mechanical Manufacturing
Subsegments:
1) By Polycarbonates: Glass Fiber Reinforced Polycarbonates, Carbon Fiber Reinforced Polycarbonates, High-Impact Polycarbonate Composites, Flame Retardant Polycarbonates, Transparent Polycarbonate Composites
2) By Polypropylenes: Glass Fiber Reinforced Polypropylenes, Carbon Fiber Reinforced Polypropylenes, Impact-Modified Polypropylenes, High-Temperature Polypropylenes, Biodegradable Polypropylene Composites
3) By Polyamides: Glass Fiber Reinforced Polyamides, Carbon Fiber Reinforced Polyamides, High-Performance Polyamides, Flame Retardant Polyamides, Aromatic Polyamides
4) By Acrylonitrile-Butadiene Styrenes (ABS): Glass Fiber Reinforced ABS, Carbon Fiber Reinforced ABS, High-Impact ABS Composites, Flame Retardant ABS Composites, Transparent ABS Composites
What Are the Strategic Trends Transforming the Polymer Matrix Composites Market Landscape?
Leading enterprises in the polymer matrix composites sector are pioneering sophisticated solutions, like novel short-glass fiber-filled PP compounds, to augment performance for automobile structural applications. These PP compounds are composite materials consisting of polypropylene plastic reinforced with short glass fibers. As an example, in August 2022, Saudi Basic Industries Corporation (SABIC), a Saudi Arabian chemical manufacturing firm, introduced the SABIC polypropylene compound G3430X grade, which contains 30% short glass fiber, and the SABIC PP compound G3440X grade with 40% short glass fiber. These components have been engineered for stringent automotive requirements, including under-hood, exterior, and interior structural applications. Characterized by enhanced performance, superb mechanical properties, thin-wall capability for lightweight designs, high melt flow for simpler processing, an outstanding balance of stiffness and impact resistance, they propose cost-effective alternatives to long-glass fiber PP in low-temperature applications. Moreover, they provide customizable color options meeting specific needs.
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Who Are the Prominent Companies in the Polymer Matrix Composites Market by ?
Major companies operating in the polymer matrix composites market are Compagnie de Saint-Gobain S.A., Saudi Basic Industries Corporation (SABIC), 3M Company, Michelin Group, Safran S.A., Toray Industries Inc., Solvay S.A., Sika AG, Lanxess AG, Syensqo SA, Teijin Limited, AMETEK Inc., GKN Aerospace Services Limited, Avient Corporation, Kraton Corporation, SGL Carbon SE, Kordsa Teknik Tekstil AS, Gurit Holding AG, Enduro Composites Inc, IntechOpen Inc.
Which Region Is Expected to See the Highest CAGR in the Polymer Matrix Composites Market?
North America was the largest region in the polymer matrix composites market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the polymer matrix composites market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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