Press release
Advanced Composites Market to Reach USD 58.53 Billion by 2028, Says Stratview Research
Stratview Research
Stratview Research, a global market research firm, has launched a report on the global market, which provides a comprehensive outlook of the global and regional industry forecast, current & emerging market trends, segment analysis, competitive landscape, & more. The report covers market size, forecasts to 2028, key trends, segmentation across fiber type, resin type, manufacturing processes, end-use industries, and regions, offering strategic insights into market dynamics and opportunities for industry participants across supply chains.
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Market Statistics
• Market size (2023): USD 38.01 billion
• Forecast value (2028): USD 58.53 billion
• CAGR (2023-2028): 9.01%
• Forecast period: 2023-2028
• Base year: 2022
• Total number of segments: 3
• Tables & figures: 100+
• Country-Level Market Assessment: 20
Market Segmentation
• Fiber Type: Carbon Fiber, Aramid Fiber, S-Glass Fiber, Others
• End-Use Industry Type: Transportation, Aerospace & Defense, Wind Energy, Sporting Goods, Electrical & Electronics, Civil Engineering, Pipes & Tanks, Medical, Marine, Others
• Region: North America, Europe, Asia-Pacific, Rest of the World
Segment Analysis
In fiber type, the carbon fiber segment held the largest share of the market in 2022 and is expected to also register the fastest growth during the forecast period, reflecting its superior tensile strength, stiffness, and low weight advantage that enhance performance and fuel efficiency in aerospace and automotive applications. Elevated adoption of carbon fiber composites in high-value structural parts results in expanded unit demand and longer product lifecycles, supporting strategic material shifts in OEM supply chains.
Across end-use industries, the aerospace & defense segment dominates the advanced composites market over the forecast period, propelled by the sector's drive for lighter, fuel-efficient aircraft structures. Structural weight reduction and performance optimization remain core requirements for next-generation commercial and defense platforms, structuring a steady procurement pipeline for high-performance composite solutions that benefit manufacturers and tier suppliers.
In region, North America is estimated to be the largest market during the forecast period, supported by robust aerospace, defense, and transportation industries with advanced manufacturing bases. Investment in new carbon fiber production facilities and R&D collaborations with Europe-based OEMs and suppliers enhances regional capacity and innovation ecosystems, yielding competitive advantages for material developers and component manufacturers.
Market Drivers
• Rising aerospace & defense production stimulates composites demand for lightweight, high-strength components.
• Automotive industry adoption of composites for fuel efficiency and emissions reduction drives material substitution.
• Growth in wind energy installations increases need for large composite blades and structural parts.
• Expanded use in sporting goods and consumer electronics reflects lightweight performance benefits.
• Technological advancements in manufacturing processes enhance scalability and part quality.
Top Companies in the Market
• DuPont de Nemours, Inc.
• Hexcel Corporation
• Hexion Inc.
• Huntsman International, LLC.
• Koninklijke Ten Cate BV.
• Mitsubishi Chemical Holdings Corporation
• SGL Group
• Solvay S.A.
• Toray Industries, Inc.
• Teijin Limited
FAQs
1. What is the current size of the global advanced composites market and its projected value by 2028?
The global advanced composites market was valued at USD 38.01 billion in 2023 and is projected to reach USD 58.53 billion by 2028 at a CAGR of 9.01%.
2. Which fiber type segment leads the advanced composites market?
The carbon fiber segment held the largest share in 2022 and is expected to register the fastest growth due to its superior strength-to-weight ratio and performance features needed in aerospace and automotive.
3. What end-use industry is the dominant driver for advanced composites demand?
The aerospace & defense segment dominates owing to increasing demand for lightweight, fuel-efficient structural components in aircraft and defense platforms.
4. Why is North America the largest regional market for advanced composites?
North America's market leadership reflects strong aerospace, defense, and transportation industries coupled with new production facilities and investments in high-performance composite technologies.
5. Who are key companies operating in the advanced composites market?
Leading companies include DuPont de Nemours, Hexcel Corporation, Hexion Inc., Huntsman International, Koninklijke Ten Cate BV., Mitsubishi Chemical Holdings Corporation, SGL Group, Solvay S.A., Toray Industries, and Teijin Limited.
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https://www.wowonder.xyz/read-blog/365052
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https://www.leenkup.com/read-blog/78340
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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.
Stratview Research has been helping companies meet their global and regional growth objectives by offering customized research services. These include market assessment, due diligence, opportunity screening, voice of customer analysis, market entry strategies, and more.
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