Global Textile Composites Market Size study, by Fiber Type (Carbon Fiber, Glass Fiber, Aramid Fiber, Polyethylene Fiber (UHMWPE), Basalt Fiber, Others), by Textile Type (Woven, Non-Woven), by Application (Automotive, Aerospace, Construction, Marine, Sport

Global Textile Composites Market Size study, by Fiber Type (Carbon Fiber, Glass Fiber, Aramid Fiber, Polyethylene Fiber (UHMWPE), Basalt Fiber, Others), by Textile Type (Woven, Non-Woven), by Application (Automotive, Aerospace, Construction, Marine, Sports Equipment, Industrial Insulation, Others) and Regional Forecasts 2022-2032

The Global Textile Composites Market was valued at approximately USD 7.91 billion in 2023 and is expected to grow at a robust CAGR of 6.9% from 2024 to 2032. Textile composites refer to materials that combine textiles with other substances, creating a composite with superior properties. These materials leverage the strengths of textiles and the additional binding material, typically a polymer matrix or resin, resulting in improved mechanical, thermal, or other characteristics. This market is driven by the increasing demand for lightweight, high-strength materials across various industries including aerospace, automotive, and sports equipment. In textile composites, the textile component often serves as a reinforcement, providing strength and flexibility, while the additional material binds the structure together. This results in a composite tailored to meet specific performance requirements. Applications of textile composites span across aerospace, automotive, construction, sports equipment, and protective gear, where their lightweight and high-strength characteristics are highly valued.

The primary driver of the textile composites market is the rising demand for materials with a high strength-to-weight ratio. Industries such as aerospace and automotive constantly seek solutions to reduce weight while maintaining or enhancing strength. Textile composites, reinforced with fibers such as carbon, glass, or aramid, provide a viable solution for manufacturing complex shapes and components. These composites contribute to fuel efficiency in transportation and improved performance in sports equipment. Technological advancements play a crucial role in propelling the textile composites market. Continuous R&D efforts focus on enhancing the properties of textile composites, such as mechanical strength, durability, and environmental resistance. Innovations like nanocomposites, incorporating nanoparticles into textile structures, expand the performance capabilities of textile composites, driving market growth. However, the high costs associated with manufacturing and implementing these materials pose significant challenges, limiting widespread adoption, especially in cost-sensitive industries.

Key regions considered in the Global Textile Composites Market study include North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The Asia-Pacific region held the dominant share of the textile composites market in 2023 and is projected to grow at the highest CAGR during the forecast period. This growth is driven by the significant increase in demand for aircraft for both commercial and defence purposes. The lightweight and high-strength properties of textile composites make them increasingly valuable in aerospace applications, contributing to the robust market growth in this region.

Major market players included in this report are:

Saertex Group

Hyosung Tnc

Toray Industries, Inc.

Composite Fabrics Of America

Hexcel Corporation

Owens Corning

BGF Industries

Sigmatex

Chomarat

Teijin Limited

Mitsubishi Chemical Holdings Corporation

Saertex GmbH & Co. KG

Park Aerospace Corp.

Solvay S.A.

Royal DSM N.V.

The detailed segments and sub-segment of the market are explained below:

By Fiber Type

Carbon Fiber

Glass Fiber

Aramid Fiber

Polyethylene Fiber (UHMWPE)

Basalt Fiber

Others

By Textile Type

Woven

Non-Woven

By Application

Automotive

Aerospace

Construction

Marine

Sports Equipment

Industrial Insulation

Others

By Region:

North America

U.S.

Canada

Europe

Germany

UK

France

Spain

Italy

Rest of Europe

Asia Pacific

China

India

Japan

South Korea

Australia

Rest of Asia-Pacific

Latin America

Brazil

Mexico

Rest of Latin America

Middle East and Africa:

Saudi Arabia

South Africa

Rest of Middle East and Africa

Years considered for the study are as follows:

Historical year – 2022

Base year – 2023

Forecast period – 2024 to 2032

Key Takeaways:

Market Estimates & Forecast for 10 years from 2022 to 2032.

Annualized revenues and regional level analysis for each market segment.

Detailed analysis of geographical landscape with Country level analysis of major regions.

Competitive landscape with information on major players in the market.

Analysis of key business strategies and recommendations on future market approach.

Analysis of competitive structure of the market.

Demand side and supply side analysis of the market.