Global Composites Market Size To Exceed USD 229.98 Billion By 2035 | CAGR of 7.15%
Category: Advanced MaterialsGlobal Composites Market Size To Exceed USD 229.98 Billion By 2035
According to a research report published by Spherical Insights & Consulting, The Global Composites Market Size is expected to grow from USD 107.58 Billion in 2024 to USD 229.98 Billion by 2035, at a CAGR of 7.15% during the forecast period 2025-2035.
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Browse key industry insights spread across 240 pages with 120 Market data tables and figures & charts from the report on the "Global Composites Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Carbon Fiber, Glass Fiber, Natural fiber, and Others), By Manufacturing Process (Layup, Filament, Injection Molding, Pultrusion, Compression Molding Process, Resin Transfer Molding Process, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2025 – 2035." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/composites-market
A composite is a material created by fusing two or more different materials that have different physical or chemical characteristics yet work together to create a material with new or better qualities. Rapid advancements in composite manufacturing have significantly reduced cycle times and production complexity, increasing consistency and scalability. Examples of these advancements include RTM, AFP, additive manufacturing, and enhanced simulation tools. At the same time, AI and IIoT are changing processes algorithms are able to identify better composite formulations, minimize waste and flaws, and optimize real time parameters such as temperature, pressure, and curing times. One specific example is Plataine's AI powered Digital Assistant, which records tools and molds, forecasts maintenance, tracks material usage and shelf life, and offers complete digital traceability from raw materials to completed parts. These developments increase the affordability of high-performance composites, reduce barriers to entry, and broaden their uses beyond high end sports and aerospace to include mass market goods, wind energy, construction, and automobiles. However, the composites' high production and raw material costs are likely going to restrict market expansion.
The glass fiber segment dominated the market in 2024 and is projected to grow at a substantial CAGR during the forecast period.
Based on the product type, the composites market is divided into carbon fiber, glass fiber, natural fiber, and others. Among these, the glass fiber segment dominated the market in 2024 and is projected to grow at a substantial CAGR during the forecast period. The segment's development is stimulated because of its exceptional strength to weight ratio, affordability, and corrosion resistance, glass fiber continues to be a key component of industry innovation. Its adaptability facilitates a variety of structural and insulating applications, and it is widely employed in the wind energy, automotive, construction, and maritime sectors.
The layup segment accounted for the largest share in 2024 and is anticipated to grow at a remarkable CAGR during the forecast period.
Based on the manufacturing process, the composites market is divided into layup, filament, injection molding, pultrusion, compression molding process, resin transfer molding process, and others. Among these, the layup segment accounted for the largest share in 2024 and is anticipated to grow at a remarkable CAGR during the forecast period. The segment's increase is prompted by the increasing demand for wind turbine blades, boats, and architectural mouldings. Wet layup reduces expenses and allows for the flexible production of huge or unique shapes for storage and maritime applications.
Asia Pacific is expected to hold the majority share of the global composites market during the forecast period.
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Asia Pacific is expected to hold the majority share of the global composites market during the forecast period. The composites market is encouraged by the strong demand in the automotive, aerospace, construction, and electronics industries. Regional leadership is being strengthened by major producers like Toray and Mitsubishi Chemical, as well as rapid growth in China and India.
North America is anticipated to grow at the fastest pace in the global Composites market during the forecast period. The composites market in the Asia Pacific is bolstered by the aerospace, automotive, and defense industries. The proportion of composites in contemporary aircraft, such as the Airbus A350XWB, has significantly increased compared to previous models, demonstrating the quick adoption of innovative aerospace materials.
Europe's composites market is expected to increase significantly due to the need for cars to be lighter to comply with EU pollution regulations. Manufacturers are being pushed to use composites instead of steel and aluminum due to regulations and EV incentives. The increase is supported by robust growth in aerospace and military, as well as spikes in demand, especially in the automobile sector.
Major vendors in the global Composites market are 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 Materials, Inc., Cytec Industries, China Jushi Co., Ltd., Kineco Limited, Veplas Group, and Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Development
In September 2023, Teijin acquired GH Craft as part of its downstream strategy. Leveraging its technological capabilities, GH Craft has been involved in the design, prototyping, and evaluation of composite materials centered on highly demanding applications for the aerospace, railway, and automotive industries.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the composites market based on the following segments:
Global Composites Market, By Product Type
- Carbon Fiber
- Glass Fiber
- Natural fiber
- Others
Global Composites Market, By Manufacturing Process
- Layup
- Filament
- Injection Molding
- Pultrusion
- Compression Molding Process
- Resin Transfer Molding Process
- Others
Global Composites Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
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Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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