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Composites Market size was valued at USD 99.52 Billion in 2023 and is poised to grow from USD 106.59 Billion in 2024 to USD 184.5 Billion by 2032, growing at a CAGR of 7.1% during the forecast period (2025-2032).

The composites market boasts competitive surroundings characterized by way of the presence of many key players looking to benefit marketplace proportion. Leading players, which include Hexcel Corporation, Torre Industries Inc., Owens Corning, Teijin Ltd., Solway SA dominate the industry with their breadth of products and global attain. These industry leaders put money into research and improvement constantly developing new composite materials, enhancing their mechanical properties. In addition, partnerships, mergers and acquisitions are commonplace techniques amongst businesses to amplify their markets and diversify their offerings. 'Owens corning ', 'Toray industries, inc. ', 'Mitsubishi chemical holdings corporation ', 'Solvay s.a. ', 'Teijin limited ', 'Sgl carbon se ', 'Hexcel corporation ', 'Nippon electric glass co., ltd. ', 'Huntsman international llc ', 'Gurit holding ag ', 'Weyerhaeuser company ', 'China jushi co., ltd. ', 'Agy ', 'Taishan fiberglass inc. (ctg group) ', 'Chongqing polycomp international corp. (cpic) ', 'Saint-gobain ', 'Ineos capital limited ', 'Hexion ', 'Asahi fiber glass co., ltd. ', 'Hyosung advanced materials '

Continued advances in composite technology such as the development of high-performance fibers and resins have expanded the potential applications for structural composites. These new materials have made composites stronger, more durable and more cost-effective improving cost efficiency, and making industries requiring lightweight and robustness more attractive products. 

The Asia-Pacific region dominated the market and accounted for 45.4% of the revenue share. The Asia Pacific region in the market is expected to grow significantly during the forecast period. Asia Pacific will hold the greatest revenue share in the global market. Players in this market can expect to benefit greatly from the rising demand in key sectors including electrical & electronics, aerospace & defence, building & construction, and automotive & transportation. Additionally, the regional market is expected to benefit from the cities' fast urbanization and the presence of numerous manufacturers like Toray Industries Inc.   

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Global Composites Market

Report ID: SQMIG15B2085

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