Composites Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Fiber Type (Carbon Fiber Composites, Glass Fiber Composites and Others), By Resin Type (Thermoplastic Composites and Thermosetting Composites), By Application (Transportation, Aerospace & Defense, Wind Energy, Electricals & Electronics, Construction, Pipes & Tanks, Marine and Others), By Manufacturing Process (Layup, Filament, Injection molding, Pultrusion, Compression molding, RTM and Others), By Region 2021-2031F

Forecast Period	2027-2031
Market Size (2025)	USD 92.22 Billion
CAGR (2026-2031)	7.91%
Fastest Growing Segment	Carbon Fiber Composites
Largest Market	North America
Market Size (2031)	USD 145.61 Billion

Market Overview

The Global Composites Market will grow from USD 92.22 Billion in 2025 to USD 145.61 Billion by 2031 at a 7.91% CAGR. Composites are engineered materials formed by combining two or more distinct constituents, typically a fiber reinforcement and a polymer matrix, to achieve mechanical properties not attainable by the individual components alone. The sector’s expansion is fundamentally driven by the critical need for lightweight solutions in the aerospace and automotive industries, where reducing structural weight directly correlates with improved fuel efficiency and lower emissions. Furthermore, the inherent corrosion resistance and high durability of these materials support their widespread utilization in the construction and infrastructure sectors, providing longevity that traditional materials often lack.

According to the AVK Federation of Reinforced Plastics, in 2024, the global volume of the composites market totaled 13.5 million tonnes. Despite this scale, the industry encounters a substantial obstacle regarding the recycling of thermoset materials, which remain difficult to reprocess efficiently at the end of their lifecycle. This sustainability issue, coupled with the high costs associated with raw material production and energy-intensive manufacturing processes, presents a significant barrier to the widespread standardization of composites in cost-sensitive, high-volume commercial applications.

Key Market Drivers

The rapid expansion of the wind energy sector serves as a primary catalyst for the global composites market, fundamentally driven by the manufacturing requirements of modern turbine blades. As operators seek to maximize energy capture through larger rotor diameters, the industry relies heavily on glass and carbon fiber-reinforced polymers to ensure the necessary structural integrity and stiffness while minimizing weight. This trend correlates directly with installation volumes, where massive composite consumption is required for each new gigawatt of capacity to produce lighter, longer, and more durable blades. According to the Global Wind Energy Council, April 2025, in the 'Global Wind Report 2025', the industry installed 117 GW of new wind energy capacity globally in 2024, signaling a sustained trajectory of high-volume material demand.

Simultaneously, the rising adoption of high-performance composites in the aerospace industry remains a critical driver, necessitating advanced materials to reduce aircraft weight and enhance fuel efficiency. Airframe manufacturers are increasingly utilizing carbon fiber composites in primary structures such as fuselages and wings to meet stringent emission targets and operational cost goals, leading to a steady recovery in material orders following supply chain disruptions. This demand is evidenced by production ramp-ups; according to Airbus, January 2025, in the 'Airbus reports 766 commercial aircraft deliveries in 2024' press release, the company delivered 766 commercial aircraft in 2024, reflecting a robust recovery that fuels upstream composite consumption. Despite broader economic challenges, these sectoral activities support the overall market's resilience; according to the JEC Group, February 2025, in the 'JEC Observer Overview of the global composites market 2024-2029', the market recorded a Compound Annual Growth Rate (CAGR) of 2.7% during the 2019-2024 cycle.

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Key Market Challenges

The prohibitive cost of production combined with the technical complexity of recycling thermoset materials constitutes a primary restriction on the broader standardization of composite technologies. Unlike metals, which benefit from established recycling infrastructure and lower energy requirements for reprocessing, polymer-based composites require energy-intensive manufacturing cycles that significantly inflate the final component price. This economic disparity creates a formidable barrier for price-sensitive sectors, such as mass-market automotive and general infrastructure, preventing these industries from adopting composites for high-volume applications. Consequently, the market remains confined to specialized, lower-volume segments where performance justifies the premium, effectively capping the sector's potential for mass commercialization.

The direct impact of these economic and environmental constraints is evident in regional market contractions. According to the AVK Federation of Reinforced Plastics, in 2024, the total production volume of composite materials in Europe declined by approximately 5.6% to 2.416 million tonnes. This downward trend underscores how the dual pressures of high manufacturing costs and sustainability mandates are actively reducing industrial output. As industries face tighter budgets and stricter environmental regulations, the inability to efficiently recycle these expensive materials continues to stall growth in key commercial markets.

Key Market Trends

The development of advanced carbon fiber hydrogen storage tanks is rapidly emerging as a critical trend, driven by the global transition toward zero-emission heavy-duty transport and industrial energy infrastructure. Unlike battery-electric solutions, hydrogen fuel cell systems require high-pressure Type IV vessels manufactured with high-strength carbon fiber to ensure safety and lightweight performance for long-range mobility. This application is creating a distinct high-value sub-segment within the composites industry, decoupling from traditional cyclical markets like construction to serve the burgeoning hydrogen economy. This momentum is evident in the financial performance of key market players; according to Hexagon Purus, February 2025, in the 'Q4 2024 Presentation', the company's Hydrogen Mobility and Infrastructure segment recorded a revenue increase of 40% year-over-year, reaching NOK 1,782 million in 2024, underscoring the surging industrial demand for composite pressure vessels.

Concurrently, the acceleration of recyclable thermoplastic composite adoption is reshaping the market's material composition to address the severe end-of-life limitations of traditional thermosets. Manufacturers are increasingly pivoting toward continuous fiber-reinforced thermoplastics (CFRTP) and organosheets, which offer the unique ability to be remelted and reprocessed, thereby facilitating a circular economy and reducing scrap waste. This shift is further incentivized by the materials' rapid processing cycles, which suit high-volume automotive production rates better than slow-curing epoxies. The structural transition is quantifiable in regional market dynamics; according to the AVK Federation of Reinforced Plastics, March 2025, in the 'Market Report 2024', thermoplastic composites increased their dominance in the European market, accounting for a 58.2% share of the total production volume, proving their resilience and growing preference over thermoset alternatives despite broader economic downturns.

Segmental Insights

The Carbon Fiber Composites segment is currently the fastest-growing category within the Global Composites Market. This rapid expansion is primarily driven by the increasing demand for lightweight materials in the automotive and aerospace sectors to enhance fuel efficiency. Stringent mandates regarding vehicle emissions, such as those enforced by the United States Environmental Protection Agency and the European Union, require manufacturers to adopt materials that offer high strength and low weight. Consequently, producers are replacing traditional heavy metals with carbon fiber alternatives to comply with these environmental standards while maintaining structural durability.

Regional Insights

North America maintains a dominant position in the global composites market, driven by substantial demand within the aerospace, defense, and automotive sectors. The region benefits from the presence of major aircraft manufacturers that utilize composites to enhance fuel efficiency and structural performance. Furthermore, stringent fuel economy standards mandated by the Environmental Protection Agency compel automotive companies to integrate lightweight materials into vehicle production. This regulatory support, combined with consistent investments in renewable energy infrastructure such as wind power, ensures sustained demand for composite materials across the United States and Canada.

Recent Developments

• In November 2024, Toray Advanced Composites expanded its capabilities in the global market by acquiring the assets, technology, and intellectual property of Gordon Plastics. This strategic investment significantly enhanced the company's development and production capacity for continuous fiber-reinforced thermoplastic composite tapes. The acquisition included a manufacturing site in Colorado, which now operates as a satellite facility for research and development. This move was designed to accelerate the industrialization of thermoplastic composites and support growing demand across the sporting goods, oil and gas, and industrial sectors by leveraging advanced processing technologies for high-temperature polymer systems.
• In May 2024, Hexcel Corporation and Fairmat announced a ten-year collaboration agreement focused on recycling carbon fiber composite materials. Under this partnership, composite scrap generated at a major manufacturing facility in Salt Lake City is diverted from landfills and repurposed for use in various commercial markets. The recycling partner, a deeptech company specializing in sustainable materials, opened a new state-of-the-art facility to process the waste into second-generation composite products. This initiative underscores a shared commitment to environmental stewardship by establishing a closed-loop ecosystem for high-performance carbon fibers and reducing the industrial carbon footprint.
• In March 2024, Arkema and Hexcel Corporation achieved a significant milestone in the composites industry by completing the first aeronautical structure manufactured entirely from thermoplastic composites. This accomplishment resulted from a strategic partnership aimed at optimizing the design and production of lightweight composite parts to replace metallic materials in aircraft. The demonstrator structure was built using high-performance thermoplastic tapes derived from specialized resin and carbon fiber lines. The project successfully validated automated deposition processes and dynamic in-situ welding technologies, demonstrating a viable pathway for high-rate production of cost-competitive, lightweight composite assemblies for future aerospace fleets.
• In February 2024, the Mitsubishi Chemical Group announced the development of a breakthrough high heat-resistant ceramic matrix composite (CMC) utilizing pitch-based carbon fibers. This innovative material provides heat resistance up to 1,500 degrees Celsius and is specifically targeted for applications within the space industry. Unlike traditional composites that rely on ceramic fibers, this development employs the company's proprietary carbon fibers shielded by an oxygen transmission barrier layer. The resulting composite maintains its strength even after prolonged exposure to extreme temperatures, meeting rigorous performance targets set for reusable space transportation systems and other high-performance aerospace components.

Key Market Players

• Huntsman International LLC
• Hexcel Corporation
• Teijin Limited
• SGL Carbon SE
• Mitsubishi Chemical Holdings Corporation
• Toray Industries, Inc.
• Dow Inc.
• Halocarbon LLC
• Freudenberg SE
• The Chemours Company

By Fiber Type	By Resin Type	By Application	By Manufacturing Process	By Region
Carbon Fiber Composites Glass Fiber Composites and Others	Thermoplastic Composites and Thermosetting Composites	Transportation Aerospace & Defense Wind Energy Electricals & Electronics Construction Pipes & Tanks Marine and Others	Layup Filament Injection molding Pultrusion Compression molding RTM and Others	North America Europe Asia Pacific South America Middle East & Africa

Report Scope:

In this report, the Global Composites Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• Composites Market, By Fiber Type:

• Carbon Fiber Composites
• Glass Fiber Composites and Others

• Composites Market, By Resin Type:

• Thermoplastic Composites and Thermosetting Composites

• Composites Market, By Application:

• Transportation
• Aerospace & Defense
• Wind Energy
• Electricals & Electronics
• Construction
• Pipes & Tanks
• Marine and Others

• Composites Market, By Manufacturing Process:

• Layup
• Filament
• Injection molding
• Pultrusion
• Compression molding
• RTM and Others

• Composites Market, By Region:

• North America
• United States
• Canada
• Mexico
• Europe
• France
• United Kingdom
• Italy
• Germany
• Spain
• Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• South America
• Brazil
• Argentina
• Colombia
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE