Composites Market size is estimated to be USD 50.5 Billion in 2024 and is expected to reach USD 78.6 Billion by 2033 at a CAGR of 5.3% from 2026 to 2033.
The global composites market was valued at approximately USD 93.6 billion in 2022 and is projected to grow at a Compound Annual Growth Rate (CAGR) of around 6.7% from 2023 to 2030. North America dominated the market in 2022, accounting for a significant share of the global composites market, with the U.S. being the largest contributor due to the high demand for advanced composite materials in aerospace, automotive, and wind energy sectors. Europe is another key region, where the market was valued at USD 25.5 billion in 2022, driven by the automotive and construction industries, which continue to adopt lightweight materials for improved fuel efficiency and performance. The Asia Pacific region is expected to experience the highest growth, with a CAGR of 7.5% from 2023 to 2030, due to the expanding manufacturing base and increasing demand for composites in the automotive and electrical & electronics sectors in countries like China and India.
The regional analysis highlights the emerging opportunities for composite materials across different sectors. The Middle East and Africa are also poised for considerable growth, especially in oil and gas, construction, and automotive industries, with an expected CAGR of around 5.8% during the forecast period. Latin America is witnessing a moderate increase in demand for composites, particularly in the aerospace and automotive industries, with a steady growth rate of 6.2% expected through 2030. Composites have vast potential across multiple industries, and the growing focus on sustainable development and energy efficiency is likely to further fuel the adoption of advanced composite materials globally, thereby expanding the markets scope and regional reach.
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3M
Acordis BV
Advanced Glass Fibre Yarns
Aertex Group
Axalta Coating Systems
Airbus
AKSA
Asahi Fibreglass
BOC
Braj Binani Group
Formosa Plastics Corporation
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Composites Market
Polymer Matrix Composites (PMC)
Ceramic Matrix Composites (CMC)
Metal Matrix Composites (MMC)
Natural Fiber Composites
Glass Fiber
Carbon Fiber
Aramid Fiber
Basalt Fiber
Natural Fiber
Epoxy
Polyester
Vinyl Ester
Polyurethane
Phenolic
Lay-up Process
Filament Winding
Resin Transfer Molding (RTM)
Compression Molding
Injection Molding
Prepreg Molding
Aerospace & Defense
Automotive
Wind Energy
Construction
Sports & Leisure
Marine
Electrical & Electronics
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Composites Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Composites Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Composites Market, By Type
6. Global Composites Market, By Application
7. Global Composites Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Composites Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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