Composites Market by Fiber Type (Glass Fiber Composites, Carbon Fiber Composites, Natural Fiber Composites), Resin Type (Thermoset Composites, Thermoplastic Composites), Manufacturing Process, End-use Industry, and Region - Global Forecast to 2028

Composites Market by Fiber Type (Glass Fiber Composites, Carbon Fiber Composites, Natural Fiber Composites), Resin Type (Thermoset Composites, Thermoplastic Composites), Manufacturing Process, End-use Industry, and Region - Global Forecast to 2028



The global composites market size is projected to grow from 108.8 USD billion in 2023 and is estimated to reach 181.7 USD billion by 2028., at a CAGR of 10.8% between 2023 and 2028. Composite materials are transforming numerous industries by integrating different materials to form an enhanced composite. These materials provide exceptional versatility, allowing customization of characteristics such as durability, rigidity, electrical conductivity, and heat tolerance through careful selection and combination of components. Often presenting a substantial reduction in weight compared to traditional metals or materials, composites are perfectly suited for use in sectors like aerospace, transportation, and sports equipment.

“Carbon fiber composites are the fastest-growing fiber type of composites market in terms of value.”

Carbon fiber composites are projected to register the highest CAGR in terms of value between 2023 and 2028.Carbon fiber is renowned for its exceptional strength and lightweight properties, making it a superior. carbon fiber finds extensive application in industries such as aerospace, automotive, sports equipment, and construction due to its ability to enhance the performance and efficiency of products. In the aerospace industry, for instance, the use of carbon fiber composites contributes to significant weight savings, leading to improved fuel efficiency and reduced emissions.

“Thermoplastic composites is the fastest-growing resin type of composites, in terms of value.”

Thermoplastic composites have emerged as the most rapidly expanding category of resin types. In recent times, there has been a notable surge in the utilization of thermoplastic resins within the realm of fiber-reinforced composites. This type of resin, when combined with continuous fiber, yields structural composite products. A key benefit of employing thermoplastic resin as a matrix substance is its ability to be remolded and reused, distinguishing it from thermoset resin. As a result, composites made from thermoplastic resin are easily recyclable, leading to a significant rise in their adoption over the past decade.

“Resin Transfer Molding (RTM) manufacturing process is the second fastest-growing manufacturing process of composites, in terms of value.”

RTM utilizes a rigid, yet flexible, counter mold to enhance surface compression during the vacuum-assisted resin transfer process. This method leads to superior strength-to-weight ratios, increased laminate compaction, and elevated glass-to-resin ratios. It is primarily used for molding large, complexly shaped parts with a high-quality finish. Such components are typically found in automotive, construction, infrastructure, and aerospace sectors. The RTM technique is anticipated to see significant growth over the next five years, particularly due to its expanding use in the automotive and construction sectors within emerging markets.

“Wind energy is the second fastest-growing end-use industry of composites, in terms of value.”

The wind energy sector is forecasted to experience the second-highest compound annual growth rate (CAGR) over the next five years. Composite materials, known for their remarkable tensile strength, play a crucial role in constructing wind turbines, facilitating the production of large blades and increased energy output. Approximately 70–75% of the weight of wind blades consists of fiber reinforcement, typically combined with epoxy or unsaturated polymer resins. Fiberglass, renowned for its robust tensile strength, aids manufacturers in achieving larger blades and maximizing energy production. Moreover, fiberglass enhances the wind energy industry's resilience by enabling turbines to operate effectively in harsh environments, thanks to its corrosion-resistant properties.

“Asia Pacific is the fastest-growing composites market.”

The Asia Pacific region is forecasted to experience the highest compound annual growth rate (CAGR) in the composites sector in terms of value over the upcoming five years. This region holds significant potential for growth in the electrical and electronics industry. The continuous expansion of technologically advanced electronic devices has generated a substantial need for lightweight and strong electronic products. This escalating demand for cutting-edge electronic products across diverse applications has spurred innovations and advancements in the composites industry within Asia Pacific.

This study has been validated through primary interviews conducted with various industry experts globally. These primary sources have been divided into the following three categories:

By Company Type - Tier 1- 40%, Tier 2- 33%, and Tier 3- 27%

By Designation - C Level- 50%, Director Level- 30%, and Executives- 20%

By Region - North America- 15%, Europe- 50%, Asia Pacific- 20%, Middle East & Africa (MEA)-10%, Latin America-10%

The report provides a comprehensive analysis of company profiles listed below:

Owens Corning (US)

Toray Industries, Inc. (Japan)

Teijin Limited (Japan)

Mitsubishi Chemical Holdings Corporation (Japan)

Hexcel Corporation (US)

SGL Group (Germany)

Nippon Electric Glass Co. Ltd. (Japan)

Huntsman International LLC. (US)

Solvay S.A. (Belgium)

Research Coverage

This report covers the global composites market and forecasts the market size until 2028. The report includes the market segmentation – Fiber Type (Glass Fiber Composites, Carbon Fiber Composites, Natural Fiber Composites, and Other), Resin Type (Thermoset Composites and Thermoplastic Composites), Manufacturing process (Lay-up, filament winding, injection molding, pultrusion, compression molding, RTM, and others), End-use Industry (Aerospace & Defense, Wind Energy, Automotive & Transportation, Construction & Infrastructure, Marine, Pipes, Tanks & Pressure vessels, Electrical & Electronics, and Others) and Region (Europe, North America, Asia Pacific, South America, and Middle East & Africa). Porter’s Five Forces analysis, along with the drivers, restraints, opportunities, and challenges, are discussed in the report. It also provides company profiles and competitive strategies adopted by the major players in the global composites market.

Key benefits of buying the report:

The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall composites market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:

Analysis of key drivers ( Increasing demand from aerospace applications

Extensive use of composites in construction & infrastructure industry, Growing demand from satellite parts manufacturing, Stringent eco-friendly regulations to drive adoption of composites in automotive applications, Increasing use of ATF and AFP technologies for manufacturing aircraft primary structures, Increasing focus on lightweight and high-performance materials), restraints (High processing and manufacturing costs, Lack of standardization in manufacturing technologies

Limitations in use of carbon fiber composites in high-temperature aerospace applications), opportunities ( High demand for environmentally friendly electric vehicles, Growing adoption of natural fiber composites, Growing penetration of natural fiber composites and carbon fiber composites in emerging applications, Reduction of carbon fiber composite costs, Increasing use of carbon fiber composites in 3D printing, Increasing number of wind energy capacity installations

Development of advanced software tools for prepreg product development, High demand for carbon fiber composite in CNG and hydrogen storage.,) and challenges (Developing low-cost technologies,Issues related to recycling) influencing the growth of the composite market

Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the composite market

Market Development: Comprehensive information about lucrative markets – the report analyses the composite market across varied regions.

Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the composite market

Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players like Owens Corning (US), Toray Industries, Inc. (Japan), Teijin Limited (Japan), Mitsubishi Chemical Holdings Corporation (Japan), Hexcel Corporation (US), SGL Group (Germany), Nippon Electric Glass Co. Ltd. (Japan), Huntsman International LLC. (US), Solvay S.A. (Belgium) among others in the composite market.


1 Introduction
1.1 Study Objectives
1.2 Market Definition
1.3 Inclusions & Exclusions
1.4 Market Scope
Figure 1 Composites Market Segmentation
1.4.1 Regions Covered
1.4.2 Years Considered
1.5 Currency Considered
1.6 Units Considered
1.7 Limitations
1.8 Stakeholders
1.9 Summary Of Changes
2 Research Methodology
2.1 Research Data
Figure 2 Composites Market: Research Design
2.1.1 Secondary Data
2.1.2 Primary Data
2.1.2.1 Key Primary Participants
2.1.2.2 Breakdown Of Interviews With Experts
2.1.2.3 Key Industry Insights
2.2 Impact Of Recession
2.3 Market Size Estimation
2.3.1 Bottom-up Approach
Figure 3 Composites Market: Bottom-up Approach
2.3.2 Top-down Approach
Figure 4 Composites Market: Top-down Approach
2.4 Base Number Calculation
2.4.1 Approach 1: Supply-side Analysis
2.4.2 Approach 2: Demand-side Analysis
2.5 Market Forecast Approach
2.5.1 Supply Side
2.5.2 Demand Side
2.6 Data Triangulation
Figure 5 Composites Market: Data Triangulation
2.7 Factor Analysis
2.8 Research Assumptions
2.9 Research Limitations
3 Executive Summary
Figure 6 Glass Fiber Composites Dominated Market In 2022
Figure 7 Thermoset Composites Dominated Market In 2022
Figure 8 Lay-up Manufacturing Process Accounted For Largest Share Of Composites Market In 2022
Figure 9 Automotive And Transportation Led Market In 2022
Figure 10 Asia Pacific To Record Highest Growth During Forecast Period
4 Premium Insights
4.1 Attractive Opportunities For Players In Composites Market
Figure 11 Significant Growth Expected In Composites Market Between 2023 And 2028
4.2 Composites Market, By Fiber Type
Figure 12 Glass Fiber Composites Dominated Market In 2022
4.3 Composites Market, By Resin Type
Figure 13 Thermoset Composites Accounted For Largest Share In 2022
4.4 Composites Market, By Manufacturing Process
Figure 14 Lay-up Was Largest Manufacturing Process In 2022
4.5 Composites Market, By End-use Industry
Figure 15 Automotive & Transportation Industry Dominated Market In 2022
4.6 Composites Market, By Region
Figure 16 Asia Pacific Dominated Market In 2022
4.7 Composites Market, By Key Country
Figure 17 China To Record Fastest Growth During Forecast Period
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
Figure 18 Drivers, Restraints, Opportunities, And Challenges In Composites Market
5.2.1 Drivers
5.2.1.1 Increasing Demand For Composites In Aerospace Industry
Table 1 Orders Of Different Boeing Planes
5.2.1.2 Extensive Use Of Fiberglass Composites In Construction & Infrastructure Industry
5.2.1.3 Wide Deployment Of Carbon Fiber In Satellite Components
5.2.1.4 Rising Demand For Fiberglass In Automotive Applications
5.2.1.5 Increasing Use Of Atf And Afp Technologies In Primary Aircraft Structures
5.2.1.6 Rising Focus On Lightweight And High-performance Materials
5.2.2 Restraints
5.2.2.1 High Processing And Manufacturing Costs
5.2.2.2 Lack Of Standardization In Manufacturing Technologies
5.2.2.3 Limited Application Of Carbon Fiber Composites In High-temperature Aerospace Applications
5.2.3 Opportunities
5.2.3.1 High Demand For Electric Vehicles
5.2.3.2 Rising Adoption Of Natural Composites
5.2.3.3 Pressing Need For Natural And Carbon Fiber Composites In Emerging Applications
5.2.3.4 Reduction In Cost Of Carbon Fiber Composites
5.2.3.5 Increasing Use Of Carbon Fiber Composites In 3d Printing
5.2.3.6 Increasing Number Of Wind Energy Capacity Installations
Table 2 Estimated Global Wind Energy Installations, 2021–2030
5.2.3.7 Development Of Advanced Software Tools For Prepreg Product Development
5.2.3.8 High Demand For Carbon Fiber Composites In Cng And Hydrogen Storage
5.2.4 Challenges
5.2.4.1 Developing Low-cost Technologies
5.2.4.2 Obstacles In Recycling Composites
5.3 Porter's Five Forces Analysis
Figure 19 Composites Market: Porter's Five Forces Analysis
5.3.1 Threat Of New Entrants
5.3.2 Threat Of Substitutes
5.3.3 Bargaining Power Of Buyers
5.3.4 Bargaining Power Of Suppliers
5.3.5 Intensity Of Competitive Rivalry
Table 3 Composites Market: Porter's Five Forces Analysis
5.4 Ecosystem Map
Figure 20 Key Players In Composite Market Ecosystem
Figure 21 Ecosystem Analysis: Composites Market
5.5 Pricing Analysis
5.5.1 Average Selling Price, By End-use Industry (Key Players)
Figure 22 Average Selling Price Of Composites Offered By Key Players For Top Three End-use Industries (Usd/Kg)
5.5.2 Average Selling Price, By Fiber Type
Figure 23 Average Selling Price Based On Fiber Type (Usd/Kg)
5.5.3 Average Selling Price, By Resin Type
Figure 24 Average Selling Price Based On Resin Type (Usd/Kg)
5.5.4 Average Selling Price, By Region
Table 4 Average Selling Price Of Composites, By Region
5.6 Supply Chain Analysis
5.7 Value Chain Analysis
Figure 25 Composites Market: Value Chain Analysis
5.7.1 Raw Materials
Figure 26 Leading Composite Raw Material Manufacturers And Suppliers
5.7.2 Intermediates
Figure 27 Leading Composite Intermediate Manufacturers
5.7.3 Molders
Figure 28 Leading Molders In Composites Market
5.7.4 Oem/Assembly
Figure 29 Major End Users Of Composite Products
5.7.5 Distribution Channel
5.8 Trade Analysis
5.8.1 Export Scenario For Hs Code 7019
Figure 30 Export Of Glass Fibers, By Key Country, 2018–2022 (Usd Thousand)
Table 5 Top 10 Exporting Countries In 2022
5.8.2 Import Scenario For Hs Code 7019
Figure 31 Import Of Glass Fibers, By Key Country, 2018–2022 (Usd Thousand)
Table 6 Top 10 Importing Countries In 2022
5.8.3 Export Scenario For Hs Code 681511
Table 7 Top 15 Exporting Countries In 2022
5.8.4 Import Scenario For Hs Code 681511
Table 8 Top 15 Importing Countries In 2022
5.9 Technology Analysis
Table 9 Comparative Study Of Major Composite Manufacturing Processes
5.9.1 Key Technology Analysis For Glass Fiber Composites
5.9.2 Key Technology Analysis For Carbon Fiber Composites
5.9.3 Complementary Technology For Latest Manufacturing Process Of Carbon Fibers
5.9.4 Key Technology Analysis For Natural Fiber Composites
Table 10 Comparative Study Of Major Natural Fiber Composite Manufacturing Processes
5.9.5 Key Stakeholders & Buying Criteria
5.9.5.1 Key Stakeholders In Buying Process
Figure 32 Influence Of Stakeholders On Buying Process For Top Three End-use Industries
Table 11 Influence Of Stakeholders On Buying Process For Top Three End-use Industries
5.9.6 Buying Criteria
Figure 33 Key Buying Criteria For Top Three End-use Industries
Table 12 Key Buying Criteria For Top Three End-use Industries
5.10 Patent Analysis
5.10.1 Introduction
5.10.2 Methodology
5.10.3 Document Types
Table 13 Composites Market: Global Patents
Figure 34 Global Patent Analysis, By Document Type
Figure 35 Global Patent Publication Trend Analysis, Last 5 Years
5.10.4 Insights
5.10.5 Legal Status Of Patents
Figure 36 Composites Market: Legal Status Of Patents
5.10.6 Jurisdiction Analysis
Figure 37 Global Jurisdiction Analysis
5.10.7 Top Applicant Analysis
Figure 38 University Of Tiajin Accounted For Highest Number Of Patents
5.10.8 Patents By Boeing
5.10.9 Patents By University Of Tiajin
5.10.10 Patents By State Grid Corp China
5.10.11 Top 10 Patent Owners (Us) In Last 10 Years
5.11 Tariffs And Regulations
5.11.1 Regulatory Bodies, Government Agencies, And Other Organizations
Table 14 North America: Regulatory Bodies, Government Agencies, And Other Organizations
Table 15 Europe: List Of Regulatory Bodies, Government Agencies, And Other Organizations
Table 16 Asia Pacific: List Of Regulatory Bodies, Government Agencies, And Other Organizations
Table 17 Rest Of The World: List Of Regulatory Bodies, Government Agencies, And Other Organizations
5.11.2 Standards In Composites Market
Table 18 Current Standard Codes For Automotive Composites
Table 19 Current Standard Codes For Construction Composites
5.12 Key Conferences & Events In 2023–2024
Table 20 Composites Market: Key Conferences & Events, 2023–2024
5.13 Case Study Analysis
5.14 Trends And Disruptions Impacting Customer Business
Figure 39 Revenue Shift And New Revenue Pockets In Composites Market
5.15 Composites Investment Landscape
Figure 40 Investor Deals And Funding In Composites Market Soared In 2023
5.16 Application Of Composites
5.16.1 Composites In Electric-powered Aircraft
5.16.2 Emerging Need For Composites In Urban Taxis
5.16.3 Application Of Composites In Sensor Position Optimization
5.16.4 Composites For Hypersonic Aircraft
6 Composites Market, By Manufacturing Process
6.1 Introduction
Figure 41 Lay-up Manufacturing Process To Dominate Market During Forecast Period
Table 21 Composites Market, By Manufacturing Process, 2020–2022 (Usd Million)
Table 22 Composites Market, By Manufacturing Process, 2020–2022 (Kiloton)
Table 23 Composites Market, By Manufacturing Process, 2023–2028 (Usd Million)
Table 24 Composites Market, By Manufacturing Process, 2023–2028 (Kiloton)
6.2 Lay-up Process
6.2.1 Demand From Aerospace & Defense Sector To Drive Market
Figure 42 Asia Pacific To Account For Largest Market Share During Forecast Period
6.2.2 Lay-up Process: Composites Market, By Region
Table 25 Lay-up Process: Composites Market, By Region, 2020–2022 (Usd Million)
Table 26 Lay-up Process: Composites Market, By Region, 2020–2022 (Kiloton)
Table 27 Lay-up Process: Composites Market, By Region, 2023–2028 (Usd Million)
Table 28 Lay-up Process: Composites Market, By Region, 2023–2028 (Kiloton)
6.3 Filament Winding Process
6.3.1 High Deployment In Marine And Construction End-use Industries To Drive Market
Figure 43 Asia Pacific To Lead Filament Winding Process Segment During Forecast Period
6.3.2 Filament Winding Process: Composites Market, By Region
Table 29 Filament Winding Process: Composites Market, By Region, 2020–2022 (Usd Million)
Table 30 Filament Winding Process: Composites Market, By Region, 2020–2022 (Kiloton)
Table 31 Filament Winding Process: Composites Market, By Region, 2023–2028 (Usd Million)
Table 32 Filament Winding Process: Composites Market, By Region, 2023–2028 (Kiloton)
6.4 Injection Molding Process
6.4.1 Large Production Volume And Low Costs To Drive Market
Figure 44 North America To Be Largest Market For Injection Molding Process During Forecast Period
6.4.2 Injection Molding Process: Composites Market, By Region
Table 33 Injection Molding Process: Composites Market, By Region, 2020–2022 (Usd Million)
Table 34 Injection Molding Process: Composites Market, By Region, 2020–2022 (Kiloton)
Table 35 Injection Molding Process: Composites Market, By Region, 2023–2028 (Usd Million)
Table 36 Injection Molding Process: Composites Market, By Region, 2023–2028 (Kiloton)
6.5 Pultrusion Process
6.5.1 Low-cost Production Method To Boost Market
Figure 45 Asia Pacific To Be Fastest-growing Market During Forecast Period
6.5.2 Pultrusion Process: Composites Market, By Region
Table 37 Pultrusion Process: Composites Market, By Region, 2020–2022 (Usd Million)
Table 38 Pultrusion Process: Composites Market, By Region, 2020–2022 (Kiloton)
Table 39 Pultrusion Process: Composites Market, By Region, 2023–2028 (Usd Million)
Table 40 Pultrusion Process: Composites Market, By Region, 2023–2028 (Kiloton)
6.6 Compression Molding Process
6.6.1 Low Investment And Minimal Maintenance To Drive Market
Figure 46 Asia Pacific To Be Largest Market For Compression Molding Process
6.6.2 Compression Molding Process: Composites Market, By Region
Table 41 Compression Molding Process: Composites Market, By Region, 2020–2022 (Usd Million)
Table 42 Compression Molding Process: Composites Market, By Region, 2020–2022 (Kiloton)
Table 43 Compression Molding Process: Composites Market, By Region, 2023–2028 (Usd Million)
Table 44 Compression Molding Process: Composites Market, By Region, 2023–2028 (Kiloton)
6.7 Resin Transfer Molding (Rtm) Process
6.7.1 Demand For Complex Structures From Automotive And Aerospace Industry To Drive Market
Figure 47 Asia Pacific To Be Largest Market For Resin Transfer Molding Process
6.7.2 Rtm Process: Composites Market, By Region
Table 45 Rtm Process: Composites Market, By Region, 2020–2022 (Usd Million)
Table 46 Rtm Process: Composites Market, By Region, 2020–2022 (Kiloton)
Table 47 Rtm Process: Composites Market, By Region, 2023–2028 (Usd Million)
Table 48 Rtm Process: Composites Market, By Region, 2023–2028 (Kiloton)
6.8 Other Manufacturing Processes
Figure 48 Asia Pacific To Lead Market During Forecast Period
6.8.1 Other Manufacturing Processes: Composites Market, By Region
Table 49 Other Manufacturing Processes: Composites Market, By Region, 2020–2022 (Usd Million)
Table 50 Other Manufacturing Processes: Composites Market, By Region, 2020–2022 (Kiloton)
Table 51 Other Manufacturing Processes: Composites Market, By Region, 2023–2028 (Usd Million)
Table 52 Other Manufacturing Processes: Composites Market, By Region, 2023–2028 (Kiloton)
7 Composites Market, By Fiber Type
7.1 Introduction
Figure 49 Glass Fiber Composites To Dominate Market
Table 53 Composites Market, By Fiber Type, 2020–2022 (Usd Million)
Table 54 Composites Market, By Fiber Type, 2020–2022 (Kiloton)
Table 55 Composites Market, By Fiber Type, 2023–2028 (Usd Million)
Table 56 Composites Market, By Fiber Type, 2023–2028 (Kiloton)
7.2 Glass Fiber Composites
Figure 50 Asia Pacific To Be Largest Glass Fiber Composites Market During Forecast Period
7.2.1 Glass Fiber: Composites Market, By Region
Table 57 Glass Fiber: Composites Market, By Region, 2020–2022 (Usd Million)
Table 58 Glass Fiber: Composites Market, By Region, 2020–2022 (Kiloton)
Table 59 Glass Fiber: Composites Market, By Region, 2023–2028 (Usd Million)
Table 60 Glass Fiber: Composites Market, By Region, 2023–2028 (Kiloton)
7.3 Carbon Fiber Composites
Figure 51 Asia Pacific To Record Fastest Growth During Forecast Period
7.3.1 Carbon Fiber: Composites Market, By Region
Table 61 Carbon Fiber: Composites Market, By Region, 2020–2022 (Usd Million)
Table 62 Carbon Fiber: Composites Market, By Region, 2020–2022 (Kiloton)
Table 63 Carbon Fiber Composites Market, By Region, 2023–2028 (Usd Million)
Table 64 Carbon Fiber: Composites Market, By Region, 2023–2028 (Kiloton)
7.4 Natural Fiber Composites
Table 65 Natural Fiber Composites In Automotive Sector, By Different Manufacturers
7.4.1 Natural Fiber Composites Market, By Region
Table 66 Natural Fiber: Composites Market, By Region, 2020–2022 (Usd Million)
Table 67 Natural Fiber: Composites Market, By Region, 2020–2022 (Kiloton)
Table 68 Natural Fiber: Composites Market, By Region, 2023–2028 (Usd Million)
Table 69 Natural Fiber: Composites Market, By Region, 2023–2028 (Kiloton)
7.5 Other Fiber Types
7.5.1 Basalt Fiber Composites
7.5.2 Aramid Fiber Composites
7.5.3 Boron Fiber Composites
7.5.4 Hybrid Fiber Composites
7.5.5 Ultra-high-molecular-weight Polyethylene (Uhmwpe) Fiber Composites
7.5.6 Other Fiber Types: Composites Market, By Region
Table 70 Other Fiber Types: Composites Market, By Region, 2020–2022 (Usd Million)
Table 71 Other Fiber Types: Composites Market, By Region, 2020–2022 (Kiloton)
Table 72 Other Fiber Types: Composites Market, By Region, 2023–2028 (Usd Million)
Table 73 Other Fiber Types: Composites Market, By Region, 2023–2028 (Kiloton)
8 Composites Market, By Resin Type
8.1 Introduction
Figure 52 Thermoset Composites To Dominate Market During Forecast Period
Table 74 Composites Market, By Resin Type, 2020–2022 (Usd Million)
Table 75 Composites Market, By Resin Type, 2020–2022 (Kiloton)
Table 76 Composites Market, By Resin Type, 2023–2028 (Usd Million)
Table 77 Composites Market, By Resin Type, 2023–2028 (Kiloton)
8.2 Thermoset Composites
8.2.1 Increasing Demand From End-use Industries In Asia Pacific To Drive Market
8.2.2 Epoxy Resin
8.2.3 Polyester Resin
8.2.4 Vinyl Ester Resin
8.2.5 Polyurethane Resin
8.2.6 Other Thermoset Composites
Figure 53 Asia Pacific To Be Largest Thermoset Composites Market
8.2.7 Thermoset Composites Market, By Region
Table 78 Thermoset Composites Market, By Region, 2020–2022 (Usd Million)
Table 79 Thermoset Composites Market, By Region, 2020–2022 (Kiloton)
Table 80 Thermoset Composites Market, By Region, 2023–2028 (Usd Million)
Table 81 Thermoset Composites Market, By Region, 2023–2028 (Kiloton)
8.3 Thermoplastic Composites
8.3.1 Increasing Demand From Aerospace & Transportation Industries To Drive Market
8.3.2 Polycarbonates
8.3.3 Polypropylene
8.3.4 Polyphenylene Sulfide
8.3.5 Polyetherimide
8.3.6 Polyetheretherketone
8.3.7 Polyamide
8.3.8 Other Thermoplastic Composites
Figure 54 Asia Pacific To Be Largest Thermoplastic Composites Market
8.3.9 Thermoplastic Composites Market, By Region
Table 82 Thermoplastic Composites Market, By Region, 2020–2022 (Usd Million)
Table 83 Thermoplastic Composites Market, By Region, 2020–2022 (Kiloton)
Table 84 Thermoplastic Composites Market, By Region, 2023–2028 (Usd Million)
Table 85 Thermoplastic Composites Market, By Region, 2023–2028 (Kiloton)
9 Composites Market, By End-use Industry
9.1 Introduction
Figure 55 Transportation Industry To Dominate Composites Market During Forecast Period
Table 86 Composites Market, By End-use Industry, 2020–2022 (Usd Million)
Table 87 Composites Market, By End-use Industry, 2020–2022 (Kiloton)
Table 88 Composites Market, By End-use Industry, 2023–2028 (Usd Million)
Table 89 Composites Market, By End-use Industry, 2023–2028 (Kiloton)
9.2 Aerospace & Defense
9.2.1 Increasing Demand For Carbon Composites In Airframe Structures To Drive Market
9.2.2 Civil
9.2.3 Defense
Table 90 Number Of New Commercial Airplane Deliveries, By Region (2023–2042)
Figure 56 Europe To Witness Highest Demand For Composites From Aerospace & Defense End-use Industry
9.2.4 Aerospace & Defense: Composites Market, By Region
Table 91 Aerospace & Defense: Composites Market, By Region, 2020–2022 (Usd Million)
Table 92 Aerospace & Defense: Composites Market, By Region, 2020–2022 (Kiloton)
Table 93 Aerospace & Defense: Composites Market, By Region, 2023–2028 (Usd Million)
Table 94 Aerospace & Defense: Composites Market, By Region, 2023–2028 (Kiloton)
9.3 Wind Energy
9.3.1 Pressing Need For Fiber Glass In Wind Turbines To Drive Market
Figure 57 Asia Pacific To Witness Highest Demand From Wind Energy Industry
9.3.2 Wind Energy: Composites Market, By Region
Table 95 Wind Energy: Composites Market, By Region, 2020–2022 (Usd Million)
Table 96 Wind Energy: Composites Market, By Region, 2020–2022 (Kiloton)
Table 97 Wind Energy: Composites Market, By Region, 2023–2028 (Usd Million)
Table 98 Wind Energy: Composites Market, 2023–2028 (Kiloton)
9.4 Automotive & Transportation
9.4.1 Increasing Demand From Automotive Sector To Boost Market
Table 99 Cost Benefits Of Composite Parts Vs. Steel Parts
9.4.2 Automotive
9.4.3 Recreational Vehicles
9.4.4 Bus, Trucks, And Other Heavy Vehicles
9.4.5 Metros And Monorails
9.4.6 Passenger Rails
9.4.7 High-speed And Bullet Trains
Figure 58 Asia Pacific To Lead Market In Automotive & Transportation Industry
9.4.8 Automotive & Transportation: Composites Market, By Region
Table 100 Automotive & Transportation: Composites Market, By Region, 2020–2022 (Usd Million)
Table 101 Automotive & Transportation: Composites Market, By Region, 2020–2022 (Kiloton)
Table 102 Automotive & Transportation: Composites Market, By Region, 2023–2028 (Usd Million)
Table 103 Automotive & Transportation: Composites Market, By Region, 2023–2028 (Kiloton)
9.5 Construction & Infrastructure
9.5.1 Wide Use Of Composites In Concrete Structures To Boost Market
Figure 59 Asia Pacific To Be Largest Market For Composites In Construction & Infrastructure End-use Industry
9.5.2 Construction & Infrastructure: Composites Market, By Region
Table 104 Construction & Infrastructure: Composites Market, By Region, 2020–2022 (Usd Million)
Table 105 Construction & Infrastructure: Composites Market, By Region, 2020–2022 (Kiloton)
Table 106 Construction & Infrastructure: Composites Market, By Region, 2023–2028 (Usd Million)
Table 107 Construction & Infrastructure: Composites Market, By Region, 2023–2028 (Kiloton)
9.6 Pipes
9.6.1 Increasing Demand From Oil & Gas Industry To Boost Market
Figure 60 Asia Pacific To Be Largest Market For Composites In Pipes End-use Industry
9.6.2 Pipes: Composites Market, By Region
Table 108 Pipes: Composites Market, By Region, 2020–2022 (Usd Million)
Table 109 Pipes: Composites Market, By Region, 2020–2022 (Kiloton)
Table 110 Pipes: Composites Market, By Region, 2023–2028 (Usd Million)
Table 111 Pipes: Composites Market, By Region, 2023–2028 (Kiloton)
9.7 Marine
9.7.1 Increasing Use Of Composites In Yachts And Catamarans To Boost Market
9.7.2 Powerboat
9.7.3 Sailboat
9.7.4 Cruise Ship
9.7.5 Others
Figure 61 North America To Be Largest Market Composites In Marine End-use Industry
9.7.6 Marine: Composites Market, By Region
Table 112 Marine: Composites Market, By Region, 2020–2022 (Usd Million)
Table 113 Marine: Composites Market, By Region, 2020–2022 (Kiloton)
Table 114 Marine: Composites Market, By Region, 2023–2028 (Usd Million)
Table 115 Composites Market In Marine End-use Industry, By Region, 2023–2028 (Kiloton)
9.8 Tanks & Pressure Vessels
9.8.1 Wide Deployment Of Composite Vessels In Water Distribution Networks To Drive Market
Figure 62 Asia Pacific To Be Largest Market For Composites In Tanks & Pressure Vessel End-use Industry
9.8.2 Tanks & Pressure Vessels: Composites Market, By Region
Table 116 Tanks & Pressure Vessels: Composites Market, By Region, 2020–2022 (Usd Million)
Table 117 Tanks & Pressure Vessels: Composites Market, By Region, 2020–2022 (Kiloton)
Table 118 Tanks & Pressure Vessels: Composites Market, By Region, 2023–2028 (Usd Million)
Table 119 Tanks & Pressure Vessels: Composites Market, By Region, 2023–2028 (Kiloton)
9.9 Electrical & Electronics
9.9.1 Application Of Composites In Printed Circuit Boards And Computer Terminal Housings To Drive Market
Figure 63 Asia Pacific To Be Largest Market For Composites In Electrical & Electronics End-use Industry
9.9.2 Electrical & Electronics: Composites Market, By Region
Table 120 Electrical & Electronics: Composites Market, By Region, 2020–2022 (Usd Million)
Table 121 Electrical & Electronics: Composites Market, By Region, 2020–2022 (Kiloton)
Table 122 Electrical & Electronics: Composites Market, By Region, 2023–2028 (Usd Million)
Table 123 Electrical & Electronics: Composites Market, By Region, 2023–2028 (Kiloton)
9.10 Other End-use Industries
9.10.1 Industrial
9.10.2 Healthcare
9.10.3 Sporting Goods
Figure 64 Asia Pacific To Record Highest Cagr During Forecast Period
9.10.4 Other End-use Industries: Composites Market, By Region
Table 124 Other End-use Industries: Composites Market, By Region, 2020–2022 (Usd Million)
Table 125 Other End-use Industries: Composites Market, By Region, 2020–2022 (Kiloton)
Table 126 Other End-use Industries: Composites Market, By Region, 2023–2028 (Usd Million)
Table 127 Other End-use Industries: Composites Market, By Region, 2023–2028 (Kiloton)
10 Composites Market, By Region
10.1 Introduction
Figure 65 China To Be Fastest-growing Composites Market During Forecast Period
Table 128 Composites Market, By Region, 2020–2022 (Usd Million)
Table 129 Composites Market, By Region, 2020–2022 (Kiloton)
Table 130 Composites Market, By Region, 2023–2028 (Usd Million)
Table 131 Composites Market, By Region, 2023–2028 (Kiloton)
10.2 North America
10.2.1 Recession Impact
Figure 66 North America: Composites Market Snapshot
10.2.2 North America: Composites Market, By Fiber Type
Table 132 North America: Composites Market, By Fiber Type, 2020–2022 (Usd Million)
Table 133 North America: Composites Market, By Fiber Type, 2020–2022 (Kiloton)
Table 134 North America: Composites Market, By Fiber Type, 2023–2028 (Usd Million)
Table 135 North America: Composites Market, By Fiber Type, 2023–2028 (Kiloton)
10.2.3 North America: Composites Market, By Manufacturing Process
Table 136 North America: Composites Market, By Manufacturing Process, 2020–2022 (Usd Million)
Table 137 North America: Composites Market, By Manufacturing Process, 2020–2022 (Kiloton)
Table 138 North America: Composites Market, By Manufacturing Process, 2023–2028 (Usd Million)
Table 139 North America: Composites Market, By Manufacturing Process, 2023–2028 (Kiloton)
10.2.4 North America: Composites Market, By Resin Type
Table 140 North America: Composites Market, By Resin Type, 2020–2022 (Usd Million)
Table 141 North America: Composites Market, By Resin Type, 2020–2022 (Kiloton)
Table 142 North America: Composites Market, By Resin Type, 2023–2028 (Usd Million)
Table 143 North America: Composites Market, By Resin Type, 2023–2028 (Kiloton)
10.2.5 North America: Composites Market, By End-use Industry
Table 144 North America: Composites Market, By End-use Industry, 2020–2022 (Usd Million)
Table 145 North America: Composites Market, By End-use Industry, 2020–2022 (Kiloton)
Table 146 North America: Composites Market, By End-use Industry, 2023–2028 (Usd Million)
Table 147 North America: Composites Market, By End-use Industry, 2023–2028 (Kiloton)
10.2.6 North America: Composites Market, By Country
Table 148 North America: Composites Market, By Country, 2020–2022 (Usd Million)
Table 149 North America: Composites Market, By Country, 2020–2022 (Kiloton)
Table 150 North America: Composites Market, By Country, 2023–2028 (Usd Million)
Table 151 North America: Composites Market, By Country, 2023–2028 (Kiloton)
10.2.6.1 Us
10.2.6.1.1 Rising Demand For Commercial & Next-generation Aircraft To Boost Market
Table 152 Us: Composites Market, By End-use Industry, 2020–2022 (Usd Million)
Table 153 Us: Composites Market, By End-use Industry, 2020–2022 (Kiloton)
Table 154 Us: Composites Market, By End-use Industry, 2023–2028 (Usd Million)
Table 155 Us: Composites Market, By End-use Industry, 2023–2028 (Kiloton)
Table 156 Us: New Wind Energy Installations, 2010–2022 (Mw)
10.2.6.2 Canada
10.2.6.2.1 Demand From Aerospace Industry To Drive Market
Table 157 Canada: Composites Market, By End-use Industry, 2020–2022 (Usd Million)
Table 158 Canada: Composites Market, By End-use Industry, 2020–2022 (Kiloton)
Table 159 Canada: Composites Market, By End-use Industry, 2023–2028 (Usd Million)
Table 160 Canada: Composites Market, By End-use Industry, 2023–2028 (Kiloton)
10.3 Europe
10.3.1 Recession Impact
Figure 67 Europe: Composites Market Snapshot
10.3.2 Europe: Composites Market, By Fiber Type
Table 161 Europe: Composites Market, By Fiber Type, 2020–2022 (Usd Million)
Table 162 Europe: Composites Market, By Fiber Type, 2020–2022 (Kiloton)
Table 163 Europe: Composites Market, By Fiber Type, 2023–2028 (Usd Million)
Table 164 Europe: Composites Market, By Fiber Type, 2023–2028 (Kiloton)
10.3.3 Europe: Composites Market, By Manufacturing Process
Table 165 Europe: Composites Market, By Manufacturing Process, 2020–2022 (Usd Million)
Table 166 Europe: Composites Market, By Manufacturing Process, 2020–2022 (Kiloton)
Table 167 Europe: Composites Market, By Manufacturing Process, 2023–2028 (Usd Million)
Table 168 Europe: Composites Market, By Manufacturing Process, 2023–2028 (Kiloton)
10.3.4 Europe: Composites Market, By Resin Type
Table 169 Europe: Composites Market, By Resin Type, 2020–2022 (Usd Million)
Table 170 Europe: Composites Market, By Resin Type, 2020–2022 (Kiloton)
Table 171 Europe: Composites Market, By Resin Type, 2023–2028 (Usd Million)
Table 172 Europe: Composites Market, By Resin Type, 2023–2028 (Kiloton)
10.3.5 Europe: Composites Market, By End-use Industry
Table 173 Europe: Composites Market, By End-use Industry, 2020–2022 (Usd Million)
Table 174 Europe: Composites Market, By End-use Industry, 2020–2022 (Kiloton)
Table 175 Europe: Composites Market, By End-use Industry, 2023–2028 (Usd Million)
Table 176 Europe: Composites Market, By End-use Industry, 2023–2028 (Kiloton)
10.3.6 Europe: Composites Market, By Country
Table 177 Europe: Composites Market, By Country, 2020–2022 (Usd Million)
Table 178 Europe: Composites Market, By Country, 2020–2022 (Kiloton)
Table 179 Europe: Composites Market, By Country, 2023–2028 (Usd Million)
Table 180 Europe: Composites Market, By Country, 2023–2028 (Kiloton)

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook
Cookie Settings