How big is the composite material market | Global Size, Share & Forecast 2025

Q: What is the current size of the composite material market?

The composite material market was valued at USD 120.6 billion in 2024 and is projected to reach USD 236.2 billion by 2031.

Q: What is the growth rate of the composite material market?

The market is anticipated to grow at a CAGR of 9.8% between 2025 and 2031.

Q: Which components contribute the most to the composite material market?

Fiber reinforcements, polymer matrix resins, and thermoset composites are key contributors.

Q: What is driving demand in the composite material market?

Demand is driven by lightweight construction needs, energy efficiency, and technological improvements in material science.

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6W monitors the market across 60+ countries Globally, publishing an annual market outlook report that analyses trends, key drivers, Size, Volume, Revenue, opportunities, and market segments. This report offers comprehensive insights, helping businesses understand market dynamics and make informed decisions.

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Code: MTA5853

Publication Date: Jul 2025

How big is the Composite Material Market?

According to 6Wresearch internal database and industry insights, Global composite material market was valued at approximatelyUSD 120.6 billion in 2024 and is projected to reachUSD 236.2 billion by 2031, growing at aCAGR of 9.8% during the forecast period.

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The market is growing steadily due to rising demand in automotive, aerospace, construction, and renewable energy sectors for lightweight and high-strength materials.

Key Growth Drivers of the Composite Material Market

Increasing demand for fuel-efficient and lightweight vehicles
Rising use of composites in wind turbine blades and solar panels
Expansion of aerospace and defense sectors globally
Rapid infrastructure development in emerging economies
Technological advancements in resin and fiber materials

Composite Material Market Trends

The composite material market is witnessing rising adoption across several end-use industries due to their high strength-to-weight ratio, corrosion resistance, and design flexibility. Composites are enabling the automotive manufacturers to improve the performance of the vehicles and achieve the emission standards. In aerospace the material is making it to save fuel and augment the payload capacity. The renewable energy market is turning more to composites in energy devices (wind turbine blades). Sustainable composites, such as recyclable and bio-based ones are also developing heavily. Recently thermoplastics and hybrid composites are gaining attention as providing shorter production cycles and cheaper cost.

Emerging Developments in the Composite Material Market

The composite material market is witnessing growth in eco-friendly and recyclable composite solutions driven by environmental regulations and industry sustainability targets. The firms are innovating on nanomaterials, hybrid reinforcements, smart composites to get the best out of material functionality. Intersector cooperation is assisting in the standardization of testing process and the enhancement of composite components reliability. Advanced thermoplastics are also enabling expanded portfolio to meet high volume industrial applications by manufacturers. Such trends are making the market more scalable, cost-effective, and generally performing the same way in a variety of applications.