Composites Market Insights, Competitive Landscape, and Market Forecast

Description

The global composites market is poised for significant growth, driven by increasing demand across automotive, construction, aerospace, and renewable energy sectors. Composites, which combine two or more distinct materials to create a material with enhanced properties, have gained popularity due to their high strength-to-weight ratio, corrosion resistance, and durability. The market is expected to reach USD 84.5 billion in 2026 and expand to USD 136.6 billion by 2033, registering a robust CAGR of 7.1% during the forecast period.

Composites have become an essential component in industries seeking to reduce weight, improve performance, and enhance sustainability. The rising adoption of advanced materials in lightweight vehicles, green construction, and high-performance applications is fueling market expansion globally. This press release provides a comprehensive outlook on market insights, drivers, business opportunities, regional dynamics, key players, and market segmentation.

Market Insights

The composites market is witnessing robust growth due to technological advancements and increased adoption in multiple end-use industries. Polymer matrix composites (PMCs) dominate the market, owing to their lightweight properties and versatility across applications such as automotive, electrical, and consumer goods. Metal matrix composites (MMCs) and ceramic matrix composites (CMCs) are also gaining traction, particularly in aerospace, defense, and high-performance engineering applications.

From a manufacturing standpoint, processes such as hand lay-up, injection molding, resin transfer molding (RTM), filament winding, compression molding, and pultrusion are widely utilized. These processes allow manufacturers to customize composites according to application-specific requirements, offering enhanced mechanical properties, thermal stability, and corrosion resistance.

The automotive sector remains a key driver of growth, as lightweight materials become crucial to meeting stringent emission regulations and fuel efficiency standards. In parallel, the construction industry increasingly relies on composites for infrastructure projects, including bridges, pipelines, and energy-efficient buildings. Renewable energy applications, particularly wind power, are further contributing to demand due to the high performance and long lifespan of composite materials.

Key Market Drivers

Several factors are propelling the global composites market:

Automotive Lightweighting Initiatives: The need to reduce vehicle weight to improve fuel efficiency and lower carbon emissions is driving the adoption of composites in body panels, chassis components, and interior parts.
Infrastructure and Construction Demand: Growing urbanization and the need for durable, corrosion-resistant building materials are increasing the use of composites in construction projects worldwide.
Renewable Energy Expansion: Wind turbine blades, solar panel components, and other renewable energy applications are increasingly made from high-performance composites.
Technological Advancements: Innovations in resin formulations, fiber reinforcements, and automated manufacturing processes are enabling cost-effective production and superior material performance.
Defense and Aerospace Applications: High-strength, lightweight composites are replacing traditional metals in aircraft, defense equipment, and marine vessels, where performance and fuel efficiency are critical.

Business Opportunities

The composites market offers multiple avenues for business expansion and innovation. Emerging economies in Asia Pacific and Latin America are witnessing rapid industrialization, providing growth potential for composite manufacturers. There is increasing demand for customized composite solutions tailored to specific applications in automotive, aerospace, and construction sectors.

Startups and established manufacturers can explore collaborations with renewable energy companies to develop high-performance materials for wind turbine blades and solar infrastructure. Additionally, research in bio-based composites and recyclable materials offers sustainable alternatives, which are gaining preference among environmentally conscious industries. Companies investing in advanced manufacturing technologies such as automated lay-up, 3D printing, and RTM can enhance production efficiency while delivering high-quality composite components.

Regional Analysis

Asia Pacific is the largest and fastest-growing market for composites, driven by the presence of automotive, electronics, and construction hubs in China, Japan, India, and South Korea. Increasing infrastructure projects, government initiatives for lightweight vehicles, and renewable energy investments are boosting regional demand.

North America and Europe are mature markets, supported by stringent environmental regulations, advancements in aerospace, defense, and automotive sectors, and high adoption of renewable energy technologies. North America, particularly the United States, benefits from advanced manufacturing capabilities and a strong base of composite producers. Europe continues to invest in research and development for high-performance and sustainable composites, further strengthening market growth.

Latin America and the Middle East & Africa are emerging markets for composites. Growing infrastructure projects, expanding automotive industries, and renewable energy adoption in countries like Brazil, Saudi Arabia, and the UAE present untapped opportunities for manufacturers to expand their presence.

Key Players

The global composites market is highly competitive, with key players focusing on innovation, mergers, acquisitions, and strategic partnerships to strengthen their market position. Prominent companies include:

Toray Industries, Inc.
Owens Corning
Hexcel Corporation
Teijin Limited
SGL Carbon SE
Mitsubishi Chemical Group
Solvay S.A.
Huntsman Corporation
BASF SE
PPG Industries, Inc.
DuPont
Compagnie de Saint-Gobain S.A.
Jushi Group Co., Ltd.
Arkema S.A.
Exel Group

These players are expanding their product portfolios, increasing production capacities, and entering new regions to cater to the growing global demand for composites.

Market Segmentation

By Matrix

Polymer Matrix Composites (PMCs)
Fiber
Resin
Ceramic Matrix Composites (CMCs)
Metal Matrix Composites (MMCs)

By Manufacturing Process

Hand Lay-Up
Injection Molding Process
Resin Transfer Molding (RTM)
Filament Winding
Compression Molding
Pultrusion
Others

By Application

Automotive
Building & Construction
Electrical & Electronics Goods
Pipes & Tank Manufacturing
Consumer Goods
Wind Power
Maritime
Defense & Aviation
Others

By Region

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

1. Executive Summary

1.1. Global Composites Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Regional Snapshot, by Value, 2026
1.5. Analyst Recommendations

2. Market Overview

2.1. Market Definitions and Segmentations
2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Market Opportunities
2.3. Value Chain Analysis
2.4. COVID-19 Impact Analysis
2.5. Porter's Fiver Forces Analysis
2.6. Impact of Russia-Ukraine Conflict
2.7. PESTLE Analysis
2.8. Regulatory Analysis
2.9. Price Trend Analysis
- 2.9.1. Current Prices and Future Projections, 2025-2033
- 2.9.2. Price Impact Factors

3. Global Composites Market Outlook, 2020 - 2033

3.1. Global Composites Market Outlook, by Matrix, Value (US$ Bn), 2020-2033
- 3.1.1. Polymer matrix composites (PMCs)
  - 3.1.1.1. Fiber
  - 3.1.1.2. Resin
- 3.1.2. Ceramic matrix composites (CMCs)
- 3.1.3. Metal matrix composites (MMCs)
3.2. Global Composites Market Outlook, by Manufacturing Process, Value (US$ Bn), 2020-2033
- 3.2.1. Hand Lay-Up
- 3.2.2. Injection Molding Process
- 3.2.3. Resin Transfer Molding (RTM)
- 3.2.4. Filament Winding
- 3.2.5. Compression Molding
- 3.2.6. Pultrusion
- 3.2.7. Others
3.3. Global Composites Market Outlook, by Application, Value (US$ Bn), 2020-2033
- 3.3.1. Automotive
- 3.3.2. Building & construction
- 3.3.3. Electrical & Electronics goods
- 3.3.4. Pipes & tank manufacturing
- 3.3.5. Consumer goods
- 3.3.6. Wind power
- 3.3.7. Maritime
- 3.3.8. Defense & Aviation
- 3.3.9. Others
3.4. Global Composites Market Outlook, by Region, Value (US$ Bn), 2020-2033
- 3.4.1. North America
- 3.4.2. Europe
- 3.4.3. Asia Pacific
- 3.4.4. Latin America
- 3.4.5. Middle East & Africa

4. North America Composites Market Outlook, 2020 - 2033

4.1. North America Composites Market Outlook, by Matrix, Value (US$ Bn), 2020-2033
- 4.1.1. Polymer matrix composites (PMCs)
  - 4.1.1.1. Fiber
  - 4.1.1.2. Resin
- 4.1.2. Ceramic matrix composites (CMCs)
- 4.1.3. Metal matrix composites (MMCs)
4.2. North America Composites Market Outlook, by Manufacturing Process, Value (US$ Bn), 2020-2033
- 4.2.1. Hand Lay-Up
- 4.2.2. Injection Molding Process
- 4.2.3. Resin Transfer Molding (RTM)
- 4.2.4. Filament Winding
- 4.2.5. Compression Molding
- 4.2.6. Pultrusion
- 4.2.7. Others
4.3. North America Composites Market Outlook, by Application, Value (US$ Bn), 2020-2033
- 4.3.1. Automotive
- 4.3.2. Building & construction
- 4.3.3. Electrical & Electronics goods
- 4.3.4. Pipes & tank manufacturing
- 4.3.5. Consumer goods
- 4.3.6. Wind power
- 4.3.7. Maritime
- 4.3.8. Defense & Aviation
- 4.3.9. Others
4.4. North America Composites Market Outlook, by Country, Value (US$ Bn), 2020-2033
- 4.4.1. U.S. Composites Market Outlook, by Matrix, 2020-2033
- 4.4.2. U.S. Composites Market Outlook, by Manufacturing Process, 2020-2033
- 4.4.3. U.S. Composites Market Outlook, by Application, 2020-2033
- 4.4.4. Canada Composites Market Outlook, by Matrix, 2020-2033
- 4.4.5. Canada Composites Market Outlook, by Manufacturing Process, 2020-2033
- 4.4.6. Canada Composites Market Outlook, by Application, 2020-2033
4.5. BPS Analysis/Market Attractiveness Analysis

5. Europe Composites Market Outlook, 2020 - 2033

5.1. Europe Composites Market Outlook, by Matrix, Value (US$ Bn), 2020-2033
- 5.1.1. Polymer matrix composites (PMCs)
  - 5.1.1.1. Fiber
  - 5.1.1.2. Resin
- 5.1.2. Ceramic matrix composites (CMCs)
- 5.1.3. Metal matrix composites (MMCs)
5.2. Europe Composites Market Outlook, by Manufacturing Process, Value (US$ Bn), 2020-2033
- 5.2.1. Hand Lay-Up
- 5.2.2. Injection Molding Process
- 5.2.3. Resin Transfer Molding (RTM)
- 5.2.4. Filament Winding
- 5.2.5. Compression Molding
- 5.2.6. Pultrusion
- 5.2.7. Others
5.3. Europe Composites Market Outlook, by Application, Value (US$ Bn), 2020-2033
- 5.3.1. Automotive
- 5.3.2. Building & construction
- 5.3.3. Electrical & Electronics goods
- 5.3.4. Pipes & tank manufacturing
- 5.3.5. Consumer goods
- 5.3.6. Wind power
- 5.3.7. Maritime
- 5.3.8. Defense & Aviation
- 5.3.9. Others
5.4. Europe Composites Market Outlook, by Country, Value (US$ Bn), 2020-2033
- 5.4.1. Germany Composites Market Outlook, by Matrix, 2020-2033
- 5.4.2. Germany Composites Market Outlook, by Manufacturing Process, 2020-2033
- 5.4.3. Germany Composites Market Outlook, by Application, 2020-2033
- 5.4.4. Italy Composites Market Outlook, by Matrix, 2020-2033
- 5.4.5. Italy Composites Market Outlook, by Manufacturing Process, 2020-2033
- 5.4.6. Italy Composites Market Outlook, by Application, 2020-2033
- 5.4.7. France Composites Market Outlook, by Matrix, 2020-2033
- 5.4.8. France Composites Market Outlook, by Manufacturing Process, 2020-2033
- 5.4.9. France Composites Market Outlook, by Application, 2020-2033
- 5.4.10. U.K. Composites Market Outlook, by Matrix, 2020-2033
- 5.4.11. U.K. Composites Market Outlook, by Manufacturing Process, 2020-2033
- 5.4.12. U.K. Composites Market Outlook, by Application, 2020-2033
- 5.4.13. Spain Composites Market Outlook, by Matrix, 2020-2033
- 5.4.14. Spain Composites Market Outlook, by Manufacturing Process, 2020-2033
- 5.4.15. Spain Composites Market Outlook, by Application, 2020-2033
- 5.4.16. Russia Composites Market Outlook, by Matrix, 2020-2033
- 5.4.17. Russia Composites Market Outlook, by Manufacturing Process, 2020-2033
- 5.4.18. Russia Composites Market Outlook, by Application, 2020-2033
- 5.4.19. Rest of Europe Composites Market Outlook, by Matrix, 2020-2033
- 5.4.20. Rest of Europe Composites Market Outlook, by Manufacturing Process, 2020-2033
- 5.4.21. Rest of Europe Composites Market Outlook, by Application, 2020-2033
5.5. BPS Analysis/Market Attractiveness Analysis

6. Asia Pacific Composites Market Outlook, 2020 - 2033

6.1. Asia Pacific Composites Market Outlook, by Matrix, Value (US$ Bn), 2020-2033
- 6.1.1. Polymer matrix composites (PMCs)
  - 6.1.1.1. Fiber
  - 6.1.1.2. Resin
- 6.1.2. Ceramic matrix composites (CMCs)
- 6.1.3. Metal matrix composites (MMCs)
6.2. Asia Pacific Composites Market Outlook, by Manufacturing Process, Value (US$ Bn), 2020-2033
- 6.2.1. Hand Lay-Up
- 6.2.2. Injection Molding Process
- 6.2.3. Resin Transfer Molding (RTM)
- 6.2.4. Filament Winding
- 6.2.5. Compression Molding
- 6.2.6. Pultrusion
- 6.2.7. Others
6.3. Asia Pacific Composites Market Outlook, by Application, Value (US$ Bn), 2020-2033
- 6.3.1. Automotive
- 6.3.2. Building & construction
- 6.3.3. Electrical & Electronics goods
- 6.3.4. Pipes & tank manufacturing
- 6.3.5. Consumer goods
- 6.3.6. Wind power
- 6.3.7. Maritime
- 6.3.8. Defense & Aviation
- 6.3.9. Others
6.4. Asia Pacific Composites Market Outlook, by Country, Value (US$ Bn), 2020-2033
- 6.4.1. China Composites Market Outlook, by Matrix, 2020-2033
- 6.4.2. China Composites Market Outlook, by Manufacturing Process, 2020-2033
- 6.4.3. China Composites Market Outlook, by Application, 2020-2033
- 6.4.4. Japan Composites Market Outlook, by Matrix, 2020-2033
- 6.4.5. Japan Composites Market Outlook, by Manufacturing Process, 2020-2033
- 6.4.6. Japan Composites Market Outlook, by Application, 2020-2033
- 6.4.7. South Korea Composites Market Outlook, by Matrix, 2020-2033
- 6.4.8. South Korea Composites Market Outlook, by Manufacturing Process, 2020-2033
- 6.4.9. South Korea Composites Market Outlook, by Application, 2020-2033
- 6.4.10. India Composites Market Outlook, by Matrix, 2020-2033
- 6.4.11. India Composites Market Outlook, by Manufacturing Process, 2020-2033
- 6.4.12. India Composites Market Outlook, by Application, 2020-2033
- 6.4.13. Southeast Asia Composites Market Outlook, by Matrix, 2020-2033
- 6.4.14. Southeast Asia Composites Market Outlook, by Manufacturing Process, 2020-2033
- 6.4.15. Southeast Asia Composites Market Outlook, by Application, 2020-2033
- 6.4.16. Rest of SAO Composites Market Outlook, by Matrix, 2020-2033
- 6.4.17. Rest of SAO Composites Market Outlook, by Manufacturing Process, 2020-2033
- 6.4.18. Rest of SAO Composites Market Outlook, by Application, 2020-2033
6.5. BPS Analysis/Market Attractiveness Analysis

7. Latin America Composites Market Outlook, 2020 - 2033

7.1. Latin America Composites Market Outlook, by Matrix, Value (US$ Bn), 2020-2033
- 7.1.1. Polymer matrix composites (PMCs)
  - 7.1.1.1. Fiber
  - 7.1.1.2. Resin
- 7.1.2. Ceramic matrix composites (CMCs)
- 7.1.3. Metal matrix composites (MMCs)
7.2. Latin America Composites Market Outlook, by Manufacturing Process, Value (US$ Bn), 2020-2033
- 7.2.1. Hand Lay-Up
- 7.2.2. Injection Molding Process
- 7.2.3. Resin Transfer Molding (RTM)
- 7.2.4. Filament Winding
- 7.2.5. Compression Molding
- 7.2.6. Pultrusion
- 7.2.7. Others
7.3. Latin America Composites Market Outlook, by Application, Value (US$ Bn), 2020-2033
- 7.3.1. Automotive
- 7.3.2. Building & construction
- 7.3.3. Electrical & Electronics goods
- 7.3.4. Pipes & tank manufacturing
- 7.3.5. Consumer goods
- 7.3.6. Wind power
- 7.3.7. Maritime
- 7.3.8. Defense & Aviation
- 7.3.9. Others
7.4. Latin America Composites Market Outlook, by Country, Value (US$ Bn), 2020-2033
- 7.4.1. Brazil Composites Market Outlook, by Matrix, 2020-2033
- 7.4.2. Brazil Composites Market Outlook, by Manufacturing Process, 2020-2033
- 7.4.3. Brazil Composites Market Outlook, by Application, 2020-2033
- 7.4.4. Mexico Composites Market Outlook, by Matrix, 2020-2033
- 7.4.5. Mexico Composites Market Outlook, by Manufacturing Process, 2020-2033
- 7.4.6. Mexico Composites Market Outlook, by Application, 2020-2033
- 7.4.7. Argentina Composites Market Outlook, by Matrix, 2020-2033
- 7.4.8. Argentina Composites Market Outlook, by Manufacturing Process, 2020-2033
- 7.4.9. Argentina Composites Market Outlook, by Application, 2020-2033
- 7.4.10. Rest of LATAM Composites Market Outlook, by Matrix, 2020-2033
- 7.4.11. Rest of LATAM Composites Market Outlook, by Manufacturing Process, 2020-2033
- 7.4.12. Rest of LATAM Composites Market Outlook, by Application, 2020-2033
7.5. BPS Analysis/Market Attractiveness Analysis

8. Middle East & Africa Composites Market Outlook, 2020 - 2033

8.1. Middle East & Africa Composites Market Outlook, by Matrix, Value (US$ Bn), 2020-2033
- 8.1.1. Polymer matrix composites (PMCs)
  - 8.1.1.1. Fiber
  - 8.1.1.2. Resin
- 8.1.2. Ceramic matrix composites (CMCs)
- 8.1.3. Metal matrix composites (MMCs)
8.2. Middle East & Africa Composites Market Outlook, by Manufacturing Process, Value (US$ Bn), 2020-2033
- 8.2.1. Hand Lay-Up
- 8.2.2. Injection Molding Process
- 8.2.3. Resin Transfer Molding (RTM)
- 8.2.4. Filament Winding
- 8.2.5. Compression Molding
- 8.2.6. Pultrusion
- 8.2.7. Others
8.3. Middle East & Africa Composites Market Outlook, by Application, Value (US$ Bn), 2020-2033
- 8.3.1. Automotive
- 8.3.2. Building & construction
- 8.3.3. Electrical & Electronics goods
- 8.3.4. Pipes & tank manufacturing
- 8.3.5. Consumer goods
- 8.3.6. Wind power
- 8.3.7. Maritime
- 8.3.8. Defense & Aviation
- 8.3.9. Others
8.4. Middle East & Africa Composites Market Outlook, by Country, Value (US$ Bn), 2020-2033
- 8.4.1. GCC Composites Market Outlook, by Matrix, 2020-2033
- 8.4.2. GCC Composites Market Outlook, by Manufacturing Process, 2020-2033
- 8.4.3. GCC Composites Market Outlook, by Application, 2020-2033
- 8.4.4. South Africa Composites Market Outlook, by Matrix, 2020-2033
- 8.4.5. South Africa Composites Market Outlook, by Manufacturing Process, 2020-2033
- 8.4.6. South Africa Composites Market Outlook, by Application, 2020-2033
- 8.4.7. Egypt Composites Market Outlook, by Matrix, 2020-2033
- 8.4.8. Egypt Composites Market Outlook, by Manufacturing Process, 2020-2033
- 8.4.9. Egypt Composites Market Outlook, by Application, 2020-2033
- 8.4.10. Nigeria Composites Market Outlook, by Matrix, 2020-2033
- 8.4.11. Nigeria Composites Market Outlook, by Manufacturing Process, 2020-2033
- 8.4.12. Nigeria Composites Market Outlook, by Application, 2020-2033
- 8.4.13. Rest of Middle East Composites Market Outlook, by Matrix, 2020-2033
- 8.4.14. Rest of Middle East Composites Market Outlook, by Manufacturing Process, 2020-2033
- 8.4.15. Rest of Middle East Composites Market Outlook, by Application, 2020-2033
8.5. BPS Analysis/Market Attractiveness Analysis

9. Competitive Landscape

9.1. Company Vs Segment Heatmap
9.2. Company Market Share Analysis, 2025
9.3. Competitive Dashboard
9.4. Company Profiles
- 9.4.1. Toray Industries, Inc.
  - 9.4.1.1. Company Overview
  - 9.4.1.2. Product Portfolio
  - 9.4.1.3. Financial Overview
  - 9.4.1.4. Business Strategies and Developments
- 9.4.2. Owens Corning
- 9.4.3. Hexcel Corporation
- 9.4.4. Teijin Limited
- 9.4.5. SGL Carbon SE
- 9.4.6. Mitsubishi Chemical Group
- 9.4.7. Solvay S.A.
- 9.4.8. Huntsman Corporation
- 9.4.9. BASF SE
- 9.4.10. PPG Industries, Inc.

10. Appendix

10.1. Research Methodology
10.2. Report Assumptions
10.3. Acronyms and Abbreviations

Composites Market Insights, Competitive Landscape, and Market Forecast - 2033