Composite Market is estimated to be valued at USD 115.39 Bn in 2025 and is expected to reach USD 188.96 Bn in 2032, exhibiting a compound annual growth rate (CAGR) of 7.3% from 2025 to 2032.
Composite Market is witnessing significant growth, due to the consistent demand for high strength-to-weight ratio materials in the aerospace, automotive, and construction industries. For instance, Boeing in 2024 increased the use of carbon fiber reinforced composites in the aircraft for weight reduction and improved fuel efficiency. With the further evolution of technology in the production of composites, as well as the need for sustainable materials, their market penetration is further accelerating.
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Automotive Industry Electric Vehicle Transition |
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Renewable Energy Infrastructure Acceleration |
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The global composite materials market, valued at $115.2 billion in 2023, is projected to grow at a CAGR of 8.3% through 2030. Pricing varies widely by fiber type, resin system, and end-use industry.
Glass fiber composites, the largest segment (70% by volume), range from $1.80–$4.80/kg for standard E-glass to $7.20–$15.00/kg for high-performance S-glass. Carbon fiber composites command significantly higher prices, with standard modulus grades at $25–$55/kg and high-modulus variants reaching $85/kg. Aramid fiber composites are priced between $16–$35/kg.
Resin systems also influence costs: polyester resins average $2.00–$3.80/kg, epoxy resins $4.50–$9.20/kg, and high-performance thermoplastics like PEEK exceed $85/kg.
End-user applications drive further differentiation. Aerospace and defense sectors exhibit the highest finished-part prices due to precision engineering and certification requirements—commercial aircraft CFRP components range from $150–$320/kg, while specialized defense materials can exceed $500/kg.
Overall, composite pricing reflects the interplay between material performance, manufacturing complexity, and end-user quality demands, with aerospace, defense, and advanced automotive segments sustaining premium market positions.
Manufacturers are increasingly investigating composites to meet rising demands for materials with superior strength-to-weight ratio that composites provide. Carbon fiber composites, a key segment of composite materials, benefit significantly from technological innovations reshaping production and performance.
Advanced manufacturing techniques such as Automated Fiber Placement (AFP) and Automated Tape Laying (ATL) enhance precision in fiber orientation, reducing waste and improving structural integrity. The integration of robotics accelerates production, enabling manufacturers to produce complex shapes at scale.
3D printing with composite materials, especially carbon fiber composites, enables lightweight, strong components with intricate geometries, advancing rapid prototyping and customized applications in aerospace and automotive sectors.
Next-generation materials, including thermoplastic composites and bio-based composites, improve recyclability and environmental sustainability, addressing industry concerns. Nanocomposites incorporating carbon nanotubes and graphene further push performance boundaries by enhancing mechanical and thermal properties.
Smart composites embedded with sensors allow real-time structural health monitoring, boosting safety and reducing maintenance costs. Digital manufacturing integration using AI and digital twins optimizes production, improves quality control, and accelerates innovation cycles.
Together, these technologies are positioning composites as critical materials that combine high strength-to-weight ratio that composites offer with multifunctional capabilities, transforming market dynamics and expanding applications across industries.
Other fiber composites accounted for the largest revenue share 59.3% in 2025 as is expected to maintain its dominance over the forecast period. Wide application demand from construction, wind energy, electrical & electronics and automotive & transportation industries is expected to ascend the demand for glass fibers.
Technological developments for enhancements in strength and durability of these composites have increased penetration in pipe manufacturing application. Moreover, rise in demand for high strength materials in automotive and aerospace industries are expected to support the market in the estimated time.
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Asia Pacific leads the global composites market, commanding 46.00% of worldwide revenue in 2025. The region is expected to witness rapid expansion throughout the forecast period, supported by strong demand from end-use sectors such as automotive, construction, aerospace, and electronics.
Key manufacturing hubs in China, India, and Japan offer a favorable ecosystem with abundant raw material availability, cost-effective labor, and advanced production capabilities. These factors make Asia Pacific one of the most lucrative regions for composite manufacturers. Furthermore, rising infrastructure investments, increasing vehicle production, and growing emphasis on lightweight materials to improve fuel efficiency are accelerating market adoption across the region.
China dominates regional composites demand with its massive automotive, construction, and electronics industries. Government policies promoting advanced manufacturing and lightweight material adoption further strengthen its leadership.
India’s composites market is expanding rapidly due to growth in infrastructure projects, booming automotive production, and rising aerospace investments. Competitive manufacturing costs also attract global players to establish production bases in the country.
Japan remains a technological leader in high-performance composites, driven by its strong aerospace, electronics, and automotive sectors. Continuous R&D investment ensures high-quality and innovative material offerings.
| Report Coverage | Details | ||
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| Base Year: | 2024 | Market Size in 2025: | USD 115.39 Bn |
| Historical Data for: | 2020 To 2024 | Forecast Period: | 2025 To 2032 |
| Forecast Period 2025 to 2032 CAGR: | 7.3% | 2032 Value Projection: | USD 188.96 Bn |
| Geographies covered: |
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| Companies covered: |
Companies de, Saint-Gobain S.A., Momentive Performance Materials, Inc., Kineco Limited, Veplas Group, China Jushi Group Co., Ltd., Braj Binani Group, Guardian Fibre Glass. |
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Increasing demand for composites in the automotive industry is anticipated to boost the market growth over the forecast period. Rising fuel prices have triggered the need for fuel-efficient vehicles. Composites are most widely utilized as the replacement for aluminum, wood, and steel on account of their higher strength to weight ratio.
Growing environmental concerns and stringent regulations regarding pollution control have forced automotive manufacturers to enhance their technologies and develop vehicles having low pollution. One of the most important factors affecting fuel efficiency and vehicular pollution is the overall weight of the vehicle.
The presence of stringent environmental regulations in Europe and the U.S. has forced automotive manufacturers to include composites in automotive production. Globally, especially in Europe, regulations are forcing OEMs to significantly reduce the CO2 emissions caused by vehicles.
For instance, in Europe, regulations to reduce the annual average emission from vehicles about 140 g of CO2 per km to 95 g CO2 per km is expected to benefit the adoption of composites. The U.S. Environmental Protection Agency (EPA) and the Department of Transportation National Highway Traffic Safety Administration (NHTSA) have also set standards to reduce automotive greenhouse gas emissions and increase fuel efficiency which is expected to drive the industry growth.
Composites are produced using a combination of fibers and matrices. Matrices are generally made of resins including thermoplastics, epoxy, or polyester. One of the major advantages of high-performance composites is their lower mass content as compared to steel and iron. Due to this, a fewer number of materials such as fasteners and joints are required to hold the product together. This not only decreases the overall weight of the product but also increases its stiffness, making it stronger.
High-performance composites are characterized by a low CTE (coefficient of thermal expansion), which means their performances are not impacted by extreme temperatures and pressures. This property is of particular importance in industrial applications where machines are subjected to extremely high temperatures.
The commercial aviation industry has increased the utilization of composites to around 50% of the total aircraft weight. For instance, Airbus A350 is built utilizing 52% CFRP, while Boeing 787 Dreamliner is built using 50% CFRP by weight. The surge in demand for commercial aviation is expected to drive the global market over the forecast period.
The automotive industry's increasing use of carbon fibre parts, particularly in the electric vehicle category, is anticipated to present the composites market with several opportunities. Electric vehicles are becoming more popular and in demand on the worldwide automobile market. By significantly decreasing car pollution, renowned automakers want to adhere to environmental regulations and emission requirements. As a result, battery-powered vehicles like automobiles and small trucks are becoming more and more popular all over the world.
The global production of electric vehicles witnessed a significant growth of 19.3% in 2019 with a production of over 2 million units and a growth of 22.7% in 2020 with a production of over 2.4 million units and is expected to rise at a considerable rate over the forecast period, which is expected to drive the demand for composites used in niche applications and car parts.
The usage of composites in the aerospace industry has been grown, the Aircraft Manufactures are taking steps to enlarge the primary Structures in thermoplastics both for business jets as well as commercial aircraft. Thermoplastics also provide a high level of toughness, which translates into lower-weight structures with improved damage tolerance.
For example, in February 2020, Marshall Advanced Composites won a £9.5 million contract from Lockheed Martin to manufacture cockpit trim panels (Nomex honeycomb core) for its C-130J Super Hercules airlifted for the next five years.
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About Author
Vidyesh Swar is a seasoned Consultant with a diverse background in market research and business consulting. With over 6 years of experience, Vidyesh has established a strong reputation for his proficiency in market estimations, supplier landscape analysis, and market share assessments for tailored research solution. Using his deep industry knowledge and analytical skills, he provides valuable insights and strategic recommendations, enabling clients to make informed decisions and navigate complex business landscapes.
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