Product Code: ETC13251721 | Publication Date: Apr 2025 | Updated Date: Jul 2025 | Product Type: Market Research Report | |
Publisher: 6Wresearch | Author: Summon Dutta | No. of Pages: 190 | No. of Figures: 80 | No. of Tables: 40 |
According to 6Wresearch internal database and industry insights, the Global Composite Material Market was valued at USD 98.6 Billion in 2024 and is expected to reach USD 161.2 Billion by 2031, growing at a compound annual growth rate of 10.52% during the forecast period (2025-2031).
The Global Composite Material Market is experiencing significant growth driven by factors such as increasing demand for lightweight and high-performance materials in industries like automotive, aerospace, construction, and wind energy. The market is characterized by the use of composite materials such as carbon fiber, fiberglass, and aramid fibers due to their superior strength-to-weight ratio and corrosion resistance. North America and Europe hold a significant share in the market, driven by technological advancements and high investment in R&D activities. The Asia-Pacific region is also witnessing rapid growth due to the expanding automotive and aerospace industries. Key players in the market include Toray Industries, Hexcel Corporation, and Owens Corning, who are focusing on product innovation and strategic partnerships to maintain their competitive edge in the global composite material market.
The Global Composite Material Market is experiencing growth driven by increasing demand for lightweight materials in industries such as automotive, aerospace, and construction. The market is witnessing a shift towards carbon fiber composites due to their high strength-to-weight ratio and durability. Additionally, the increasing focus on sustainability and environmental concerns is driving the adoption of bio-based composites. Opportunities exist for innovative composite materials that offer improved performance, cost-effectiveness, and sustainability. The market is also seeing advancements in manufacturing technologies such as automation and additive manufacturing, which are enhancing the efficiency and quality of composite production. Overall, the Global Composite Material Market is poised for continued growth with opportunities for companies to capitalize on the demand for advanced composite materials in various industries.
The Global Composite Material Market faces several challenges, including high production costs due to the complex manufacturing processes involved in creating composite materials. Quality control and standardization also pose challenges as different types of composite materials require specific testing procedures and certifications. Additionally, the market is impacted by fluctuating raw material prices, especially for carbon fibers and resins, which can affect the overall cost structure for manufacturers. Environmental concerns related to the disposal and recycling of composite materials also present a challenge as the industry strives to adopt more sustainable practices. Lastly, competition from traditional materials such as steel and aluminum remains a hurdle in expanding the adoption of composite materials across various industries.
The Global Composite Material Market is primarily driven by the increasing demand from industries such as aerospace, automotive, construction, and wind energy due to the lightweight, high strength, and corrosion-resistant properties of composite materials. Growing emphasis on fuel efficiency and environmental sustainability in the transportation sector is fueling the adoption of composites for manufacturing lightweight vehicles. Additionally, the construction industry is utilizing composites for infrastructure development to enhance durability and reduce maintenance costs. Furthermore, the renewable energy sector is driving the demand for composites in wind turbine blades for their superior strength-to-weight ratio. Technological advancements in composite material manufacturing processes and increasing investments in research and development are further propelling the growth of the global composite material market.
Government policies related to the Global Composite Material Market vary by country but generally focus on regulating manufacturing processes, ensuring product safety and quality standards, promoting sustainability, and supporting research and development efforts. For instance, in the United States, the Department of Energy provides funding for advanced composites research, while the Environmental Protection Agency regulates emissions from composite manufacturing facilities. In the European Union, regulations such as REACH and RoHS govern the use of certain chemicals in composite materials to protect human health and the environment. Additionally, many countries offer tax incentives or subsidies to encourage the use of composites in various industries, such as automotive and aerospace, to drive innovation and competitiveness in the global market.
The Global Composite Material Market is expected to witness robust growth in the coming years driven by factors such as increasing demand from end-use industries like aerospace, automotive, and construction. The market will be propelled by the superior properties of composite materials, including high strength-to-weight ratio, corrosion resistance, and design flexibility. Technological advancements in manufacturing processes and the development of innovative composite materials will further fuel market growth. Additionally, the growing focus on sustainability and environmental regulations will drive the adoption of composite materials as a lightweight and eco-friendly alternative to traditional materials. Overall, the Global Composite Material Market is poised for significant expansion, with opportunities for market players to capitalize on the increasing demand across various industries.
In the global composite material market, Asia Pacific is expected to witness significant growth driven by the booming automotive and construction sectors in countries like China and India. North America leads in aerospace and defense applications, with a strong presence of key players and technological advancements. Europe is a mature market with a focus on sustainability and lightweight materials for automotive and aerospace industries. The Middle East and Africa region is experiencing growth in the construction and infrastructure sectors, contributing to the demand for composite materials. Latin America shows potential in wind energy and automotive sectors, with increasing investments and technological advancements driving market growth across various industries.
Global Composite Material Market |
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Global Composite Material Market Overview |
3.1 Global Regional Macro Economic Indicators |
3.2 Global Composite Material Market Revenues & Volume, 2021 & 2031F |
3.3 Global Composite Material Market - Industry Life Cycle |
3.4 Global Composite Material Market - Porter's Five Forces |
3.5 Global Composite Material Market Revenues & Volume Share, By Regions, 2021 & 2031F |
3.6 Global Composite Material Market Revenues & Volume Share, By Resin, 2021 & 2031F |
3.7 Global Composite Material Market Revenues & Volume Share, By Fiber Type, 2021 & 2031F |
3.8 Global Composite Material Market Revenues & Volume Share, By Coatings, 2021 & 2031F |
3.9 Global Composite Material Market Revenues & Volume Share, By Adhesives, 2021 & 2031F |
3.10 Global Composite Material Market Revenues & Volume Share, By End-user Industry, 2021 & 2031F |
4 Global Composite Material Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Global Composite Material Market Trends |
6 Global Composite Material Market, 2021 - 2031 |
6.1 Global Composite Material Market, Revenues & Volume, By Resin, 2021 - 2031 |
6.1.1 Overview & Analysis |
6.1.2 Global Composite Material Market, Revenues & Volume, By Thermoset Resin, 2021 - 2031 |
6.1.3 Global Composite Material Market, Revenues & Volume, By EpoxyVinyl, 2021 - 2031 |
6.1.4 Global Composite Material Market, Revenues & Volume, By Ester Pheonolics Cyanate, 2021 - 2031 |
6.1.5 Global Composite Material Market, Revenues & Volume, By Esters Polyimides, 2021 - 2031 |
6.1.6 Global Composite Material Market, Revenues & Volume, By Other, 2021 - 2031 |
6.1.7 Global Composite Material Market, Revenues & Volume, By Bismaleimides, 2021 - 2031 |
6.1.8 Global Composite Material Market, Revenues & Volume, By Benzoxazines, 2021 - 2031 |
6.2 Global Composite Material Market, Revenues & Volume, By Fiber Type, 2021 - 2031 |
6.2.1 Overview & Analysis |
6.2.2 Global Composite Material Market, Revenues & Volume, By Glass Fiber, 2021 - 2031 |
6.2.3 Global Composite Material Market, Revenues & Volume, By Carbon Fiber, 2021 - 2031 |
6.2.4 Global Composite Material Market, Revenues & Volume, By Aramid Fiber, 2021 - 2031 |
6.2.5 Global Composite Material Market, Revenues & Volume, By Others, 2021 - 2031 |
6.3 Global Composite Material Market, Revenues & Volume, By Coatings, 2021 - 2031 |
6.3.1 Overview & Analysis |
6.3.2 Global Composite Material Market, Revenues & Volume, By Gel Coat, 2021 - 2031 |
6.3.3 Global Composite Material Market, Revenues & Volume, By Surface Veil, 2021 - 2031 |
6.4 Global Composite Material Market, Revenues & Volume, By Adhesives, 2021 - 2031 |
6.4.1 Overview & Analysis |
6.4.2 Global Composite Material Market, Revenues & Volume, By Epoxies, 2021 - 2031 |
6.4.3 Global Composite Material Market, Revenues & Volume, By Bismaleimide, 2021 - 2031 |
6.4.4 Global Composite Material Market, Revenues & Volume, By Cyanate Ester, 2021 - 2031 |
6.4.5 Global Composite Material Market, Revenues & Volume, By Modified Acrylics, 2021 - 2031 |
6.4.6 Global Composite Material Market, Revenues & Volume, By Polyurethanes, 2021 - 2031 |
6.4.7 Global Composite Material Market, Revenues & Volume, By Silicones, 2021 - 2031 |
6.5 Global Composite Material Market, Revenues & Volume, By End-user Industry, 2021 - 2031 |
6.5.1 Overview & Analysis |
6.5.2 Global Composite Material Market, Revenues & Volume, By Construction, 2021 - 2031 |
6.5.3 Global Composite Material Market, Revenues & Volume, By Transportation, 2021 - 2031 |
6.5.4 Global Composite Material Market, Revenues & Volume, By Electronics & Electrical, 2021 - 2031 |
6.5.5 Global Composite Material Market, Revenues & Volume, By Healthcare, 2021 - 2031 |
6.5.6 Global Composite Material Market, Revenues & Volume, By Power Generation, 2021 - 2031 |
6.5.7 Global Composite Material Market, Revenues & Volume, By Industrial, 2021 - 2031 |
7 North America Composite Material Market, Overview & Analysis |
7.1 North America Composite Material Market Revenues & Volume, 2021 - 2031 |
7.2 North America Composite Material Market, Revenues & Volume, By Countries, 2021 - 2031 |
7.2.1 United States (US) Composite Material Market, Revenues & Volume, 2021 - 2031 |
7.2.2 Canada Composite Material Market, Revenues & Volume, 2021 - 2031 |
7.2.3 Rest of North America Composite Material Market, Revenues & Volume, 2021 - 2031 |
7.3 North America Composite Material Market, Revenues & Volume, By Resin, 2021 - 2031 |
7.4 North America Composite Material Market, Revenues & Volume, By Fiber Type, 2021 - 2031 |
7.5 North America Composite Material Market, Revenues & Volume, By Coatings, 2021 - 2031 |
7.6 North America Composite Material Market, Revenues & Volume, By Adhesives, 2021 - 2031 |
7.7 North America Composite Material Market, Revenues & Volume, By End-user Industry, 2021 - 2031 |
8 Latin America (LATAM) Composite Material Market, Overview & Analysis |
8.1 Latin America (LATAM) Composite Material Market Revenues & Volume, 2021 - 2031 |
8.2 Latin America (LATAM) Composite Material Market, Revenues & Volume, By Countries, 2021 - 2031 |
8.2.1 Brazil Composite Material Market, Revenues & Volume, 2021 - 2031 |
8.2.2 Mexico Composite Material Market, Revenues & Volume, 2021 - 2031 |
8.2.3 Argentina Composite Material Market, Revenues & Volume, 2021 - 2031 |
8.2.4 Rest of LATAM Composite Material Market, Revenues & Volume, 2021 - 2031 |
8.3 Latin America (LATAM) Composite Material Market, Revenues & Volume, By Resin, 2021 - 2031 |
8.4 Latin America (LATAM) Composite Material Market, Revenues & Volume, By Fiber Type, 2021 - 2031 |
8.5 Latin America (LATAM) Composite Material Market, Revenues & Volume, By Coatings, 2021 - 2031 |
8.6 Latin America (LATAM) Composite Material Market, Revenues & Volume, By Adhesives, 2021 - 2031 |
8.7 Latin America (LATAM) Composite Material Market, Revenues & Volume, By End-user Industry, 2021 - 2031 |
9 Asia Composite Material Market, Overview & Analysis |
9.1 Asia Composite Material Market Revenues & Volume, 2021 - 2031 |
9.2 Asia Composite Material Market, Revenues & Volume, By Countries, 2021 - 2031 |
9.2.1 India Composite Material Market, Revenues & Volume, 2021 - 2031 |
9.2.2 China Composite Material Market, Revenues & Volume, 2021 - 2031 |
9.2.3 Japan Composite Material Market, Revenues & Volume, 2021 - 2031 |
9.2.4 Rest of Asia Composite Material Market, Revenues & Volume, 2021 - 2031 |
9.3 Asia Composite Material Market, Revenues & Volume, By Resin, 2021 - 2031 |
9.4 Asia Composite Material Market, Revenues & Volume, By Fiber Type, 2021 - 2031 |
9.5 Asia Composite Material Market, Revenues & Volume, By Coatings, 2021 - 2031 |
9.6 Asia Composite Material Market, Revenues & Volume, By Adhesives, 2021 - 2031 |
9.7 Asia Composite Material Market, Revenues & Volume, By End-user Industry, 2021 - 2031 |
10 Africa Composite Material Market, Overview & Analysis |
10.1 Africa Composite Material Market Revenues & Volume, 2021 - 2031 |
10.2 Africa Composite Material Market, Revenues & Volume, By Countries, 2021 - 2031 |
10.2.1 South Africa Composite Material Market, Revenues & Volume, 2021 - 2031 |
10.2.2 Egypt Composite Material Market, Revenues & Volume, 2021 - 2031 |
10.2.3 Nigeria Composite Material Market, Revenues & Volume, 2021 - 2031 |
10.2.4 Rest of Africa Composite Material Market, Revenues & Volume, 2021 - 2031 |
10.3 Africa Composite Material Market, Revenues & Volume, By Resin, 2021 - 2031 |
10.4 Africa Composite Material Market, Revenues & Volume, By Fiber Type, 2021 - 2031 |
10.5 Africa Composite Material Market, Revenues & Volume, By Coatings, 2021 - 2031 |
10.6 Africa Composite Material Market, Revenues & Volume, By Adhesives, 2021 - 2031 |
10.7 Africa Composite Material Market, Revenues & Volume, By End-user Industry, 2021 - 2031 |
11 Europe Composite Material Market, Overview & Analysis |
11.1 Europe Composite Material Market Revenues & Volume, 2021 - 2031 |
11.2 Europe Composite Material Market, Revenues & Volume, By Countries, 2021 - 2031 |
11.2.1 United Kingdom Composite Material Market, Revenues & Volume, 2021 - 2031 |
11.2.2 Germany Composite Material Market, Revenues & Volume, 2021 - 2031 |
11.2.3 France Composite Material Market, Revenues & Volume, 2021 - 2031 |
11.2.4 Rest of Europe Composite Material Market, Revenues & Volume, 2021 - 2031 |
11.3 Europe Composite Material Market, Revenues & Volume, By Resin, 2021 - 2031 |
11.4 Europe Composite Material Market, Revenues & Volume, By Fiber Type, 2021 - 2031 |
11.5 Europe Composite Material Market, Revenues & Volume, By Coatings, 2021 - 2031 |
11.6 Europe Composite Material Market, Revenues & Volume, By Adhesives, 2021 - 2031 |
11.7 Europe Composite Material Market, Revenues & Volume, By End-user Industry, 2021 - 2031 |
12 Middle East Composite Material Market, Overview & Analysis |
12.1 Middle East Composite Material Market Revenues & Volume, 2021 - 2031 |
12.2 Middle East Composite Material Market, Revenues & Volume, By Countries, 2021 - 2031 |
12.2.1 Saudi Arabia Composite Material Market, Revenues & Volume, 2021 - 2031 |
12.2.2 UAE Composite Material Market, Revenues & Volume, 2021 - 2031 |
12.2.3 Turkey Composite Material Market, Revenues & Volume, 2021 - 2031 |
12.3 Middle East Composite Material Market, Revenues & Volume, By Resin, 2021 - 2031 |
12.4 Middle East Composite Material Market, Revenues & Volume, By Fiber Type, 2021 - 2031 |
12.5 Middle East Composite Material Market, Revenues & Volume, By Coatings, 2021 - 2031 |
12.6 Middle East Composite Material Market, Revenues & Volume, By Adhesives, 2021 - 2031 |
12.7 Middle East Composite Material Market, Revenues & Volume, By End-user Industry, 2021 - 2031 |
13 Global Composite Material Market Key Performance Indicators |
14 Global Composite Material Market - Export/Import By Countries Assessment |
15 Global Composite Material Market - Opportunity Assessment |
15.1 Global Composite Material Market Opportunity Assessment, By Countries, 2021 & 2031F |
15.2 Global Composite Material Market Opportunity Assessment, By Resin, 2021 & 2031F |
15.3 Global Composite Material Market Opportunity Assessment, By Fiber Type, 2021 & 2031F |
15.4 Global Composite Material Market Opportunity Assessment, By Coatings, 2021 & 2031F |
15.5 Global Composite Material Market Opportunity Assessment, By Adhesives, 2021 & 2031F |
15.6 Global Composite Material Market Opportunity Assessment, By End-user Industry, 2021 & 2031F |
16 Global Composite Material Market - Competitive Landscape |
16.1 Global Composite Material Market Revenue Share, By Companies, 2024 |
16.2 Global Composite Material Market Competitive Benchmarking, By Operating and Technical Parameters |
17 Top 10 Company Profiles |
18 Recommendations |
19 Disclaimer |