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Report Highlights
The global market for composites is expected to grow from $126.8 billion in 2024 and is projected to reach $183.1 billion by the end of 2029, at a compound annual growth rate (CAGR) of 7.6% during the forecast period of 2024 to 2029.
Report Includes
- 108 data tables and 87 additional tables
- An overview of the global market for composites
- Analyses of global market trends, with market revenue data from 2023, estimates for 2024, and projected CAGRs through 2029
- Estimate of the current market size and revenue prospects, along with a market share analysis by type (and subtype), application and region/country
- Discussion of the market dynamics, technological advances, regulations, and the macroeconomic factors influencing the industry
- A Porter’s Five Forces model, and global supply chain and SWOT analyses of the composites market
- Overview of sustainability trends and ESG developments, with emphasis on consumer attitudes, ESG score analysis, and the ESG practices of leading companies
- An update on recent patents
- Analysis of the industry structure, including company market shares, strategic alliances, M&A activity and a venture funding outlook
- Profiles of leading players, including Toray Industries Inc., Owens Corning, Hexcel Corp., SGL Carbon SE, and Mitsubishi Chemical Group Corp.
Report Scope
The scope of this report is extensive, as it covers a variety of composites that are used globally. The market for composites is analyzed by dividing it based on five major types and subtypes. BCC Research analyzed essential categories and regions to determine the present and future composites market status. The report also discusses market strategies, ESG development, emerging trends, regulatory landscape, key players, and market driving forces. The base year for the market study is 2023, and the estimates and forecasts are for 2024 through 2029. Market estimates are in U.S. dollars (millions). The report concentrates on composite products and technologies currently in commercial use; while promising, other products that are not likely to make out of the laboratory are not covered in scope. Moreover, the market size includes the revenue that composite-producing companies generate by incorporating industrial-scale technologies.
The global composites market is segmented into:
- Reinforcement Materials – By Type: fibrous, nonfibrous; By Application: aerospace and defense, automotive, wind energy, construction, consumer goods, marine, plastics, energy, rubber, paint and coatings, electrical and electronics, ceramics, sporting goods, pipes and tanks, medical and healthcare, and others; By Region: North America, Europe, Asia-Pacific, South America, and Rest of the World; By Fibrous Type of Reinforcement: glass fiber, ceramic fiber, aramid fiber, carbon fiber, boron fiber, epoxy/vinyl ester, and others (basalt fiber, quartz fibers, fiber hybrids; By Nonfibrous Type of Reinforcement: silicas, talcs, mica, wollastonite.
- Resins – By Type: thermosets, thermoplastics; By Application: pipes and tanks, construction, marine, electrical and electronics, aerospace and defense, automotive, wind energy, and others; By Region: North America, Europe, Asia-Pacific, South America, and Rest of the World.
- Fillers – By Type: calcium carbonate, ATH (alumina trihydrate) and others {calcium sulphate, magnesium hydroxide and synthetic silicas); By Application: automotive, pipes and tanks, consumer goods, marine, construction, electrical and electronics, and others; By Region: North America, Europe, Asia-Pacific, South America, and Rest of the World.
- Nanocomposites – By Type: nanoclays, carbon nanotubes, nanofibers, metal oxides, graphene, and others (green polymer nanocomposites, hybrid nanocomposites, silicon dioxide nanoparticles); By Application: automotive, packaging, electrical and electronics, medical and healthcare, aerospace and defense, energy, paint and coatings, adhesives and sealants, sporting goods, textiles, construction, chemicals, filtration, photovoltaics, and others; By Region: North America, Europe, Asia-Pacific, South America, and Rest of the World.
- Natural Fibers – By Type: wood fiber, hemp, flax, others (kenaf, rice husk fiber, abaca fiber); By Application: construction, automotive, consumer goods, others; By Region: North America, Europe, Asia-Pacific, South America, and Rest of the World.
Report Synopsis
| Report Metrics | Details | ||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Base year considered | 2023 | ||||||||||||||||||||||||||
| Forecast period considered | 2024-2029 | ||||||||||||||||||||||||||
| Base year market size | $122.1 billion | ||||||||||||||||||||||||||
| Market size forecast | $183.1 billion | ||||||||||||||||||||||||||
| Growth rate | CAGR of 7.6% for the forecast period of 2024-2029 | ||||||||||||||||||||||||||
| Units considered | $ Millions | ||||||||||||||||||||||||||
| Segments covered | Type, Application, and Region | ||||||||||||||||||||||||||
| Regions covered | North America, Europe, Asia-Pacific, South America, and Rest of the World | ||||||||||||||||||||||||||
| Key Market Drivers |
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| Companies studied |
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Frequently Asked Questions (FAQs)
- Growing demand for advanced composites in the electrical and electronics sector.
- Rising adoption of composites in aerospace industry.
- Advances in energy sector.
- Growing usage of composites in the automotive sector.
- Reinforcement Materials (By Type: Fibrous, Nonfibrous), (By Application: Aerospace and defense, Automotive, Wind energy, Construction, Consumer goods, Marine, Plastics, Energy, Rubber, Paint and coatings, Electrical and electronics, Ceramics, Sporting goods, Pipes and tanks, Medical and healthcare and others), (By Region: North America, Europe, Asia-Pacific, South America and Rest of the World), (By Fibrous Type of Reinforcement: Glass fiber, Ceramic fiber, Aramid fiber, Carbon fiber, Boron fiber, Epoxy/vinyl ester and others (basalt fiber, quartz fibers, fiber hybrids)). (By Nonfibrous Type of Reinforcement: Silicas, Talcs, Mica, Wollastonite).
- Resins (By Type: Thermosets, Thermoplastics), (By Application: Pipes and tanks, Construction, Marine, Electrical and electronics, Aerospace and defense, Automotive, Wind energy, and Others, (By Region: North America, Europe, Asia-Pacific, South America and Rest of the World).
- Fillers (By Type: Calcium carbonate, ATH {alumina trihydrate and Others {calcium sulphate, magnesium hydroxide, and synthetic silicas}). (By Application: Automotive, Pipes and tanks, Consumer goods, Marine, Construction, Electrical and electronics, and Others), (By Region: North America, Europe, Asia-Pacific, South America and Rest of the World).
- Nanocomposites (By Type: Nanoclays, Carbon nanotubes, Nanofibers, Metal oxides, Graphene and Others (green polymer nanocomposites, hybrid nanocomposites, silicon dioxide nanoparticles)), (By Application: Automotive, Packaging, Electrical and electronics, Medical and healthcare, Aerospace and defense, Energy, Paint and coatings, Adhesives and sealants, Sporting goods, Textiles, Construction, Chemicals, Filtration, Photovoltaics and Others), (By Region: North America, Europe, Asia-Pacific, South America and Rest of the World). Natural Fibers (By Type: Wood fiber, Hemp, Flax, Others (Kenaf, Rice husk fiber, Abaca fiber)), (By Application: Construction, Automotive, Consumer goods, Others), (By Region: North America, Europe, Asia-Pacific, South America and Rest of the World).
Analyst Credentials
BCC Research Team possesses expertise and experience in life and physical science domains. They specialize in offering valuable business insights, including industry analysis, competitor intelligence, strategic and financial analysis, and opportunity assessment. The team has in-depth knowledge of various sectors, including healthcare, biotechnology, pharmaceuticals, IT, automation, advanced materials, and energy. They are proficient in qualitative and quantitative market intelligence providing clients with actionable insights. With a vast understanding of the competitive landscape, the team can support clients in making data-driven decisions to help them achieve a competitive edge in their respective markets.
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Report Highlights
The global market for composites is estimated to increase from $111.2 billion in 2021 to $161.0 billion in 2026 at a compound annual growth rate (CAGR) of 7.7% during the forecast period of 2021-2026.
Report Includes
- 110 data tables and 40 additional tables
- An up-to-date overview and analysis of the global market for composites
- Analyses of the global market trends, with data from 2020 and 2021, with projections of compound annual growth rates (CAGRs) through 2026
- Evaluation and forecast the global composites market size in value and volumetric terms, projected market trends, and corresponding market share analysis by type of resins, fillers, reinforcements, natural fibers and nanocomposites; application; and region
- Assessment of the market growth opportunities, SWOT analysis of composites market, emerging trends and technology developments, along with the COVID-19 implications on the marketplace
- In-depth information about the resin and the manufacturing process of composite materials
- Review of latest technological advancements in the composites market and awards won by composite materials and parts manufacturers
- Discussion of the competitive landscape featuring key composites manufacturers, their financial performance and market share analysis based on the segmental revenues, and related supply chain analyses
- Descriptive company profiles of the industry leading participants, including Ashland Specialty Chemical Co., DSM Engineering Plastics, LyondellBasell, Mitsubishi Chemical Corp., Owens Corning, SGL Carbon Group, Solvay, Toray Industries Inc.
Report Highlights
The global market for composites should grow from $102.0 billion in 2017 to $145.7 billion by 2022, with a compound annual growth rate (CAGR) of 7.4% for the period of 2017-2022.
Report Includes
- 107 data tables
- An overview of the global market for composites, including resins, fillers, reinforcements, natural fibers, and nanocomposites
- Analyses of global market trends, with data from 2016, 2017, and projections of compound annual growth rates (CAGRs) through 2022
- Segmentation of the major components of this market into five major types and further breakdown by their subtypes, application markets, regional markets, and major players in each of these submarkets
- Coverage of major end-user industries and applications, including construction/infrastructure; transportation; marine markets; electrical/electronic parts/components; appliances; and consumer products (sport and leisure, lawn and garden products, etc.)
- Analysis of the market's dynamics, specifically growth drivers, inhibitors, and opportunities
- Company profiles of major players in the market, including Advanced Composites Inc., DIC Corp., GE Inc., Hexion Inc., and Toray Industries Inc.
Report Highlights
The global reinforced plastic composite market will grow from 14.8 billion pounds in 2015 to about 17.6 billion pounds by 2020, with a compound annual growth rate (CAGR) of 3.5% for the period of 2015-2020.
Report Includes
- An overview of the global market for reinforced plastic composites including resins, fillers, reinforcements, natural fibers & nanocomposites.
- Analyses of global market trends, with data from 2014, 2015, and projections of compound annual growth rates (CAGRs) through 2020.
- Segmentation of the major components of this market into its resin, technology, and applications components.
- Coverage of relevant applications including automotive; construction/infrastructure including anti-corrosion and panel products; marine markets; aerospace; electronic parts/components; appliances; consumer products (sport and leisure, lawn/garden products, etc.); and a miscellaneous category.
- Analysis of the market's dynamics, specifically growth drivers, inhibitors, and opportunities.
- Profiles of major players in the industry.
Report Highlights
The global reinforced plastic composite market is estimated to total 13.6 billion pounds in 2013, 14.3 billion pounds in 2014 and is expected to increase to nearly 17.2 billion pounds by 2019. This market is expected to show a compound annual growth rate (CAGR) of 3.7% through the forecast period of 2014 to 2019.
Report Includes
- An overview of the global market for reinforced plastic composites including resins, fillers, reinforcements, natural fibers & nanocomposites.
- Analyses of global market trends, with data from 2013, estimates for 2014, and projections of compound annual growth rates (CAGRs) through 2019.
- Segmentation of the major components of this market into its resin, technology, and applications components.
- Coverage of relevant applications including automotive; construction/infrastructure including anti-corrosion and panel products; marine markets; aerospace; electronic parts/components; appliances; consumer products (sport and leisure, lawn/garden products, etc.); and a miscellaneous category.
Report Highlights
The North American fiber-reinforced plastic/composite market is estimated at 2.7 billion pounds in 2010 and is expected to increase to about 3.1 billion by 2015, reflecting a 2.8% compound annual growth rate (CAGR).
Report Highlights
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The U.S. market for composites increased from 2.7 billion pounds in 2006 to an estimated 2.8 billion pounds in 2007. It should reach over 3.3 billion by 2012, a compound annual growth rate of 3.3%.
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Construction/Infrastructure and automotive products are the key applications since they comprise about 60% of total volume, followed by marine, electronic components and consumer products.
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The largest growth will be experienced by the low volume aerospace market led by the introduction of composite commercial aircraft exterior parts such as fuselages and wings.
Report Highlights
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The fiber-reinforced plastic market is estimated at almost 2.3 billion pounds in 2002 and, rising at an average annual growth rate (AAGR) of 3%, is expected to reach 2.64 billion pounds by 2007.
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Automotive applications account for 719 million pounds and are expected to rise at an AAGR of 2.5% to 814 million pounds by 2007.
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Construction applications will rise at an AAGR of 2.7% to 688 million pounds by 2007.
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Marine and electronic components applications, rising at AAGRs of 3.5% and 4.5% respectively, are the fastest growing.
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Thermosets accounted for about 62% of total volume in 2002 and will maintain that position over the next five years.
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Nanocomposites are in the very early stages of development and, with regard to fiber-reinforced plastics, initially will make an impact in the automotive market.
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