Composite Resin Market 2026-2032 Size, Growth Trends, Opportunities and Country-Specific Forecasts

The global composite resin market is witnessing robust growth, primarily fueled by rising demand from the aerospace sector, where composite resins are extensively used due to their high strength-to-weight ratio, superior durability, and resistance to heat and corrosion. These properties make composite resins ideal for aircraft structures, interior components, and high-performance aerospace applications.

According to a report published by Allied Market Research, titled "Composite Resin Market By Resin Type, Manufacturing Process, Application, and Region: Global Opportunity Analysis and Industry Forecast, 2023-2032," the market was valued at $25.4 billion in 2022 and is projected to reach $49.4 billion by 2032, registering a CAGR of 7.0% during the forecast period.

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Key Market Drivers and Challenges:-

The market growth is driven by:

- Rising adoption of composite resins across aerospace, automotive, construction, and wind energy sectors
- Rapid developments in the transportation industry, emphasizing lightweight and fuel-efficient materials
- Growing demand for thermoplastic resins, owing to their recyclability, durability, and ease of processing

However, high production costs and challenges associated with recycling composite materials continue to restrain market expansion to some extent.

Market Segmentation Highlights:-

Thermoplastic Resins Lead by Resin Type:

- The thermoplastic resin segment accounted for over half of total market revenue in 2022 and is expected to grow at the fastest CAGR of 7.1% through 2032. Their increasing use as eco-friendly alternatives to conventional materials aligns well with global sustainability goals.

- Injection Molding Dominates Manufacturing Processes
Injection molding held the largest market share in 2022, contributing more than one-fourth of global revenue, due to its cost efficiency, scalability, and ability to manufacture complex components with precision. Meanwhile, compression molding is projected to witness the highest CAGR of 7.5% during the forecast period.

Automotive & Transportation Remain the Largest Application Segment:

- The automotive and transportation segment accounted for over one-fifth of total market revenue in 2022. Composite resins are increasingly used in body panels, roofs, and structural components to reduce vehicle weight, improve fuel efficiency, and lower emissions.

- Notably, the aerospace and defense segment is expected to grow at the highest CAGR of 7.6%, driven by increasing aircraft production and modernization programs.

Regional Insights:

- Asia-Pacific dominated the global market in 2022, accounting for more than two-fifths of total revenue, and is anticipated to register the fastest CAGR of 7.2% through 2032. The region benefits from strong manufacturing capabilities and the presence of major players such as Toray Industries, Mitsubishi Chemical Corporation, Teijin Limited, and Owens Corning, serving industries ranging from aerospace to wind energy.

Key Market Players:-

Prominent companies operating in the global composite resin market include:

- Huntsman International LLC
- Hexion Inc.
- Scott Bader Company Ltd.
- DSM
- Allnex GmbH
- Evonik Industries AG
- SABIC
- Celanese Corporation
- Dow
- Sumitomo Bakelite Co., Ltd.

These players continue to strengthen their market presence through product innovations, partnerships, expansions, and strategic collaborations.

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Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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