What is the global market size of Advanced Composites Market?

Global Advanced Composites Market size was valued at USD 31.73 billion in 2021 and is poised to grow from USD 34.65 billion in 2022 to USD 76.51 billion by 2030, growing at a CAGR of 9.2% in the forecast period (2023-2030).

Who are the key vendors in the Global Advanced Composites Market?

Global advanced composites market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. 'Toray Industries, Inc.', 'Teijin Limited', 'Hexcel Corporation', 'Owens Corning', 'SGL Group', 'Solvay S.A.', 'Mitsubishi Chemical Corporation', 'Huntsman Corporation', 'Cytec Industries Inc.', 'Koninklijke Ten Cate bv', 'Gurit Holding AG', 'TPI Composites, Inc.', 'Mitsubishi Rayon Co. Ltd.', 'Zoltek Companies, Inc.', 'Kineco Kaman Composites - India Pvt Ltd.', 'BASF SE', 'E. I. du Pont de Nemours and Company', 'Evonik Industries AG', 'Renegade Materials Corporation', 'Axiom Materials, Inc.'.

Advanced Composites Market Size, Share, Growth Analysis, By Fiber Type (Carbon Fiber Composites, Aramid Fiber Composites), By Resin Type (Advanced Thermosetting Composites, Advanced Thermoplastic Composites), By Region - Industry Forecast 2025-2032

Report ID: SQMIG15B2033 | Region: Global | Published Date: November, 2024
Pages: 242 | Tables: 91 | Figures: 76

Advanced Composites Market Regional Insights

North America is expected to dominate the market during the forecast period, with a sizable market share due to rising demand in the automotive, aerospace, and defence industries. North America's automotive sector is one of the largest in the world, with the United States being one of the largest automobile producers. The US market has grown as a result of its large market size and significant disposable income of consumers, as well as its ability to mass produce and offer a wide range of products.

The European advanced composites market is expected to grow significantly during the forecast period, accounting for a significant revenue share in 2021. The growing demand for sustainable renewable energy, combined with the increased installation of wind turbines in Spain, Germany, and the United Kingdom, is expected to boost demand. The regional market is expected to grow due to the rapid growth of the industry and the increasing installation of onshore and offshore wind energy plants.

Advanced Composites Market Report Snapshots

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Global Advanced Composites Market size was valued at USD 38.60 billion in 2022 and is poised to grow from USD 42.83 billion in 2023 to USD 98.42 billion by 2031, growing at a CAGR of 10.96% during the forecast period (2024-2031).

Global advanced composites market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. 'Toray Industries, Inc. ', 'Teijin Limited ', 'Mitsubishi Chemical Holdings Corporation ', 'SGL Group ', 'Koninklijke Ten Cate BV ', 'Huntsman International, LLC ', 'Solvay ', 'Hexcel Corporation ', 'Hexion ', 'Owens Corning ', 'BASF SE ', 'Gurit ', 'AGY ', 'Dowaksa ', 'Honeywell International Inc. ', 'Advanced Composites Inc. ', 'Kineco-Kaman ', 'Henkel AG & Co. KGaA ', 'Gaffco Ballistics ', 'Nippon Graphite Fiber Co., Ltd.'

The effectiveness of advanced composite materials is being recognised and appreciated by an increasing number of industry sectors. Composites are giving industries that previously relied on steel or aluminium constructions a competitive advantage. Its applications are no longer restricted to aerospace, high-performance yachting, and wind energy. Building facades, medical applications, truck cabins, and a wide range of other applications use advanced composites, resulting in driving the growth of the advanced composites market.

Engine parts made of ceramic matrix advanced composites include combustor liners, blades, nozzles, and shrouds. The aircraft's operational and administrative costs are decreasing as a result of improving fuel economy. In addition to high urbanisation, industrialization, and rising income levels, China, India, and other countries high economic processes playing a significant role in the acceptance of fuel-efficient cost-cutting machinery.

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Advanced Composites Market Size, Share, Growth Analysis, By Fiber Type (Carbon Fiber Composites, Aramid Fiber Composites), By Resin Type (Advanced Thermosetting Composites, Advanced Thermoplastic Composites), By Region - Industry Forecast 2025-2032

Advanced Composites Market Regional Insights

Advanced Composites Market Report Snapshots

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What is the global market size of Advanced Composites Market?

Who are the key vendors in the Advanced Composites Market?

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