Composites Market to Reach from USD 111.51 Billion in 2025 to USD 188.75 Billion by 2033
Straits Research, a leading market intelligence firm, is excited to announce the release of its latest in-depth report on the Global Composites Market. Valued at USD 104.41 billion in 2024, the market is forecasted to grow from USD 111.51 billion in 2025 to an impressive USD 188.75 billion by 2033, achieving a robust compound annual growth rate (CAGR) of 6.8% over the forecast period (2025–2033). This growth reflects the increasing adoption of composites across diverse industries, driven by their lightweight properties, durability, and versatility.
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Market Scope:
The global composites market is experiencing a transformative phase, fueled by rising demand for advanced materials in sectors such as aerospace, automotive, construction, and renewable energy. Composites, known for their superior strength-to-weight ratio, corrosion resistance, and low maintenance needs, are becoming the material of choice for manufacturers aiming to enhance efficiency and sustainability. The report by Straits Research provides a panoramic view of this dynamic market, exploring its growth trajectory, key drivers, challenges, and emerging opportunities.
From infrastructure projects like bridges and railways to cutting-edge applications in electric vehicles and wind turbines, composites are reshaping how industries operate. The market’s scope extends across North America, Europe, Asia-Pacific, and beyond, with each region showcasing unique growth patterns and industrial demands. Straits Research’s analysis offers stakeholders a clear roadmap to capitalize on this expanding market, projected to nearly double in value over the next decade.
Research Methodology:
Straits Research employed a meticulous methodology to compile this report, ensuring accuracy and actionable insights. The study integrates primary and secondary research, drawing from interviews with industry experts, manufacturers, and key stakeholders, alongside an exhaustive review of credible sources such as annual reports, white papers, and government publications. Quantitative data was validated through advanced analytical tools, while qualitative insights were gathered to understand market nuances.
The forecast spans 2021 to 2033, with 2024 as the base year, providing a comprehensive historical analysis (2021–2023) and a forward-looking projection (2025–2033). This dual approach enables businesses to benchmark past performance and anticipate future trends. By segmenting the market by product, manufacturing process, end-user, and region, the report delivers granular insights tailored to diverse industry needs.
Market Dynamics:
The composites market is propelled by a surge in demand for lightweight materials, particularly in the automotive and aerospace sectors. Rising fuel costs and stringent environmental regulations have pushed manufacturers to adopt composites over traditional materials like steel and aluminum. For instance, in the automotive industry, composites enhance fuel efficiency by reducing vehicle weight—a critical factor as the world shifts toward greener transportation solutions.
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Segmentation:
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- By Product: Glass fiber dominates due to its widespread use in construction, wind energy, and transportation, growing at a CAGR of 5.6%. Carbon fiber, prized for its high stiffness and chemical resistance, is also gaining momentum in industrial applications.
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- By Manufacturing Process: The layup process leads with an 8.4% CAGR, favored for its cost-effectiveness and versatility in producing items like wind turbine blades and architectural moldings. Pultrusion is another notable method, enabling continuous production of fiber-reinforced polymers.
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- By End-User: Automotive and transportation hold the largest share, growing at 6.8%, driven by weight reduction needs. Wind energy is the fastest-growing segment, fueled by the global expansion of renewable energy infrastructure.
Regional Insights:
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- Asia-Pacific: The dominant region, expected to grow at a 7.6% CAGR, thrives on its robust manufacturing base in countries like China, India, and Japan. China’s status as the world’s largest passenger car market, combined with rising electronics demand, fuels regional growth. For example, Japan’s industrial machinery giants, such as Fanuc and Yamazaki Mazak, are boosting composite usage in heavy equipment exports.
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- Europe: The fastest-growing region with a 6.9% CAGR, Europe benefits from its advanced automotive and aerospace industries. Germany’s focus on e-mobility and France’s maritime sector expansion highlight the region’s diverse applications. New entrants like China’s Commercial Aircraft Corporation are intensifying competition, driving composite demand.
Key Players:
- Teijin Ltd
- Toray Industries, Inc.
- Owens Corning
- PPG Industries Inc. Huntsman Corporation LLC
- SGL Group
- Hexcel Corporation
- DuPont
- Compagnie de Saint-Gobain S.A.
- Weyerhaeuser Company
- Momentive Performance MaterialsInc.
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FAQs
- What is driving the growth of the composites market?
The market is growing due to demand for lightweight, durable materials in industries like automotive, aerospace, and wind energy, spurred by fuel efficiency needs and environmental regulations. - Why are composites expensive?
High manufacturing and processing costs, especially for carbon-fiber-reinforced polymers, limit their use to premium applications, though R&D is working on affordable alternatives. - Which region leads the composites market?
Asia-Pacific dominates with a 7.6% CAGR, driven by manufacturing hubs like China and India, while Europe is the fastest-growing at 6.9%. - How are composites used in electric vehicles?
Composites, especially carbon fiber, reduce vehicle weight, enhancing battery efficiency and helping automakers meet emission standards.
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