Advanced Composites Market Summary
As per MRFR Analysis, the Global Advanced Composites Market was valued at 39.69 USD Billion in 2023 and is projected to grow to 75.0 USD Billion by 2035, reflecting a CAGR of 5.45% from 2025 to 2035. The market is driven by increasing demand from aerospace, automotive, and construction sectors, focusing on lightweight materials to enhance fuel efficiency and reduce emissions. Technological advancements in manufacturing processes and rising investments in R&D are further propelling market growth.
Key Market Trends & Highlights
The Advanced Composites Market is witnessing significant trends that reflect evolving industry dynamics.
- Aerospace segment expected to grow from 10.0 USD Billion in 2024 to 18.0 USD Billion by 2035.
- Automotive sector projected to rise from 9.0 USD Billion in 2024 to 16.0 USD Billion by 2035.
- Wind energy sector's installed capacity increased to over 740 GW, driving demand for advanced composites.
Market Size & Forecast
2023 Market Size: USD 39.69 Billion
2024 Market Size: USD 41.85 Billion
2035 Market Size: USD 75.0 Billion
CAGR (2025-2035): 5.45%
Largest Regional Market Share in 2024: North America.
Major Players
Key players include Solvay, Teijin Limited, Hexion, SABIC, Mitsubishi Chemical, Hexcel Corporation, Lanxess, Toray Industries, Cytec, Momentive Performance Materials, I. du Pont de Nemours and Company, DSM, LG Chem, BASF, and 3M.
Key Advanced Composites Market Trends Highlighted
A number of key factors, including the growing need for lightweight materials across sectors, are causing a major shift in the Advanced Composites Market. The demand for improved fuel economy and lower emissions, especially in the automobile and aerospace industries, is a major driver of this change.
Market dynamics are also being shaped by continuous innovation in materials and production techniques, such as the emergence of automation and additive manufacturing. As environmental concerns continue to rise, there are opportunities to investigate, such as the creation of bio-based and sustainable composite materials.
By investing in greener technologies that not only satisfy legal requirements but also appeal to consumers who care about the environment, manufacturers are attempting to take advantage of this trend. Advanced composites are increasingly used in athletic goods and construction, where durability and performance are critical factors, according to recent developments.
As more sectors realize the benefits of advanced composites in their particular settings, these applications are becoming more and more popular. Collaboration between industries, including businesses and research institutes, has also significantly increased in an effort to spur innovation and solve issues related to the scalability of these materials.
While emerging economies are accelerating their use of advanced composites to increase their competitive advantage, regions such as North America and Europe are concentrating on bolstering their manufacturing capabilities.
Another trend influencing the Advanced Composites Market is the move towards automation and smart manufacturing in these areas, which places an emphasis on production processes' accuracy, efficiency, and quality.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Advanced Composites Market Drivers
Increasing Demand for Lightweight Materials
The Advanced Composites Market is driven significantly by the increasing demand for lightweight materials across various sectors, especially in the aerospace and automotive industries. According to the International Air Transport Association, the aviation sector aims to reduce fuel usage by 1.5% per year until 2020 and a goal to cut emissions to 50% by 2050 compared to 2005 levels.
Lightweight materials such as advanced composites contribute to these goals by minimizing the weight of aircraft and vehicles, thereby enhancing fuel efficiency and reducing overall emissions.
Major aerospace companies like Boeing and Airbus are at the forefront of this trend, focusing on materials like carbon fiber composites to meet these stringent environmental standards. This trend suggests a sustained growth trajectory for advanced composites as sectors increasingly focus on sustainability and efficiency.
Technological Advancements in Manufacturing Processes
The Advanced Composites Market is greatly supported by ongoing technological advancements in manufacturing processes. Innovations such as automated fiber placement and 3D printing for composite materials have revolutionized how these materials are produced.
The U.S. Department of Energy's Oak Ridge National Laboratory has reported that 3D printing technologies can potentially reduce material waste by 50%, optimizing production efficiency.
Companies utilizing advanced manufacturing techniques, such as Hexcel and Toray Industries, have driven down production costs while improving material properties. This drive towards advanced manufacturing technologies is crucial for ensuring the Advanced Composites Market remains agile and responsive to industry demands, ultimately fueling market growth.
Rising Demand in Renewable Energy Sector
The Advanced Composites Market is experiencing a significant boost from the rising demand in the renewable energy sector, particularly in wind energy applications. According to the Global Wind Energy Council, the global installed wind power capacity reached approximately 743 GW by the end of 2020, with a forecast of surpassing 1,000 GW by 2025.
Advanced composites are used in wind turbine blades due to their strength-to-weight ratio, enabling longer and more efficient blades.
Companies like Siemens Gamesa and Vestas are increasingly adopting advanced composite materials in their turbine designs, aligning with global renewable energy targets. The investment in wind energy not only supports environmental sustainability but also creates a robust demand for advanced composites, positioning the market for substantial growth.
Advanced Composites Market Segment Insights
Advanced Composites Market Application Insights
The Advanced Composites Market, focusing on the Application segment, is poised for substantial growth, driven by various industrial demands and technological advancements.
In 2024, the sector generated significant revenues, with the Aerospace Application valued at 12.5 USD Billion and expected to reach 23.0 USD Billion by 2035, highlighting its importance in minimizing weight and increasing fuel efficiency in aircraft design.
Similarly, the Automotive Application, valued at 10.5 USD Billion in 2024, is forecast to grow to 20.0 USD Billion in 2035, primarily due to the rising need for lightweight materials for enhanced performance and fuel economy in vehicles.
The Construction Application, valued at 8.0 USD Billion in 2024, anticipates growth to 15.0 USD Billion by 2035, indicating its role in developing durable, energy-efficient building solutions to meet modern sustainability standards.
The Electronics sector contributed a valuation of 7.0 USD Billion in 2024, with an increase to 10.5 USD Billion expected by 2035, as advanced composites help improve device performance and longevity in a competitive market.
Lastly, the Marine Application, valued at 3.85 USD Billion in 2024 and expected to reach 6.5 USD Billion in 2035, showcased the growing demand for lightweight and corrosion-resistant materials to enhance boat and ship performance.
The market dynamics suggested that the Aerospace and Automotive Applications held a majority share of the Advanced Composites Market revenue, with both sectors being pivotal in driving innovation and product development, thus reinforcing the market's significance.
As these applications advance, the industry witnessed a trend toward incorporating sustainable practices and enhancing composite performance, creating substantial opportunities for further growth and market expansion across global regions.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Advanced Composites Market Type Insights
The Advanced Composites Market, particularly focusing on the Type segment, is a dynamic area marked by a variety of materials with unique properties and applications. Among the various types, Carbon Fiber Composites are renowned for their exceptional strength-to-weight ratio, making them a preferred choice in industries such as aerospace and automotive.
Glass Fiber Composites are widely recognized for their cost-effectiveness and versatility, catering to sectors ranging from building and construction to sporting goods. Aramid Fiber Composites offer superior resistance to abrasion and impact, making them integral to protective clothing and military applications.
Natural Fiber Composites, comprising materials like hemp and jute, are gaining traction due to their eco-friendliness and sustainability, appealing to various environmentally conscious markets. Additionally, Hybrid Composites leverage the benefits of different fibers, providing a balance of lightweight properties and enhanced strength, which is critical in high-performance applications.
As the Advanced Composites Market statistics illustrate, the demand for these diverse materials continues to shape the industry, driven by innovation, technological advancements, and increasing applications across multiple sectors. The ongoing trends emphasize sustainability and efficiency, further broadening the scope and potential of the Advanced Composites Market.
Advanced Composites Market Manufacturing Process Insights
The Advanced Composites Market, particularly in the Manufacturing Process segment, is poised for substantial growth. Prominent manufacturing techniques such as Layup, Filament Winding, Pultrusion, Resin Infusion, and Out-of-Autoclave play crucial roles in this sector.
Layup and Filament Winding are particularly significant due to their ability to create highly efficient structures for applications in aerospace and automotive industries where weight reduction and strength are critical. Pultrusion serves as a vital process for manufacturing continuous lengths of composite parts, offering consistency and durability.
Resin Infusion has gained traction for its efficiency in producing large components while minimizing waste, which is important in an industry increasingly focused on sustainability. Out-of-autoclave techniques have emerged as a cost-effective alternative to manufacturing complex shapes without the need for expensive autoclave processing.
The growth of the Advanced Composites Market is further spurred by technological advancements that enhance the performance and versatility of these manufacturing processes, while challenges such as raw material costs and the need for specialized skill sets persist. Overall, the Manufacturing Process segment is pivotal in driving market growth and meets the diverse needs of various industries worldwide.
Advanced Composites Market Matrix Type Insights
The Advanced Composites Market, particularly focusing on the Matrix Type segment, is poised for significant growth. This segment is critical as it encompasses various composite materials that are extensively utilized across diverse industries.
Within this segment, Thermosetting Polymers and Thermoplastic Polymers are vital due to their robust mechanical properties and high-temperature resistance, making them ideal for aerospace and automotive applications. Meanwhile, Metal Matrix and Ceramic Matrix composites offer enhanced strength and thermal stability, making them indispensable in specialized sectors such as defense and electronics.
The demand for lightweight and high-performance materials is driving the adoption of these matrix types, contributing to the overall Advanced Composites Market revenue. Market growth is influenced by advancements in production technologies, increasing environmental regulations, and evolving consumer preferences for sustainable materials.
However, challenges like high manufacturing costs and the need for skilled labor may impede growth. The Advanced Composites Market statistics show a promising trajectory, with ongoing Research and Development efforts aiming to innovate and improve these composite materials further.
Advanced Composites Market Regional Insights
North America led with a valuation of 12.5 USD Billion in 2024, emphasizing its significance and dominance in aerospace and automotive sectors, supported by continuous investments in Research and Development. Europe followed closely with a market valuation of 10.5 USD Billion in 2024, strengthened by a robust manufacturing base and stringent regulations driving the demand for lightweight materials.
Asia Pacific, valued at 14.0 USD Billion in 2024, emerged as a critical player due to its rapid industrialization and increasing demand in the transportation sector, highlighting its market growth potential.
Meanwhile, South America, with a value of 2.0 USD Billion, slowly gained traction as industries sought to enhance their production capabilities. The Middle East and Africa, valued at 3.85 USD Billion, witnessed gradual advancements in composite technology, focusing on oil and gas applications.
Each region contributed significantly to the Advanced Composites Market revenue, particularly North America and Asia Pacific, which dominated the market due to favorable government initiatives and technological advancements.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Advanced Composites Market Key Players and Competitive Insights
The Advanced Composites Market is characterized by its dynamic landscape, driven by innovative technologies and heightened demand across various industries, including aerospace, automotive, and construction.
As the market evolves, competitive insights reveal that organizations are leveraging advancements in material science to enhance product performance, reduce weight, and improve durability. The growing need for high-performance materials has led to strategic collaborations, mergers, and acquisitions among key players, enabling them to expand their market presence and diversify their product offerings.
In this competitive environment, companies are focusing on research and development to sustain their competitive advantage and meet the evolving needs of customers across global markets.
Kering SA has established a notable presence in the Advanced Composites Market through its commitment to sustainability and innovation. The company emphasizes eco-conscious practices while delivering high-quality composite materials that cater to a wide range of applications.
With a strong focus on brand reputation, Kering SA leverages its strengths in design and creativity to introduce advanced composite solutions that align with modern consumer preferences for lightweight and durable products.
The firm's strategic initiatives have enabled it to forge valuable partnerships, thus enhancing its market reach and establishing itself as a leader in sustainability within the composites sector.
DuPont de Nemours has a substantial footprint in the Advanced Composites Market, known for its diverse range of specialized products and exceptional material performance. The company is recognized for its innovations in composite technology, particularly in areas such as aerospace and high-performance automotive applications.
DuPont de Nemours offers key products that include advanced composite solutions with superior thermal stability and mechanical properties, positioning itself as a vital player in the industry. The company has pursued strategic mergers and acquisitions to bolster its product portfolio and expand its market presence globally.
This focus on growth, coupled with a commitment to research and development, has solidified DuPont de Nemours as a competitive force, allowing it to respond effectively to market demands and trends.
Key Companies in the Advanced Composites Market Include
- Kering SA
- DuPont de Nemours
- Teijin Limited
- Mitsubishi Chemical Corporation
- Toray Industries
- BASF SE
- Hexcel Corporation
- Hexion Inc.
- Cytec Industries
- Royal DSM
- Scott Bader Company
- 3M Company
- Solvay SA
- Owens Corning
- SABIC
Advanced Composites Market Developments
The Advanced Composites Market has seen significant developments, particularly in growth and corporate movements.
The global demand for advanced composites in industries such as aerospace and automotive continues to drive market valuation, with expectations revealing a growth trend fueled by the increasing adoption of carbon fiber and thermoplastics, enhancing performance characteristics in applications.
Major players, including Mitsubishi Chemical Corporation and Toray Industries, are similarly investing in sustainable production processes, which are becoming integral as regulatory frameworks evolve to address environmental concerns.
This focus on innovation in composite technology is reshaping market dynamics, presenting both opportunities and challenges for existing companies.
Advanced Composites Market Segmentation Insights
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Advanced Composites Market Application Outlook
- Aerospace
- Automotive
- Construction
- Electronics
- Marine
-
Advanced Composites Market Type Outlook
- Carbon Fiber Composites
- Glass Fiber Composites
- Aramid Fiber Composites
- Natural Fiber Composites
- Hybrid Composites
-
Advanced Composites Market Manufacturing Process Outlook
- Layup
- Filament Winding
- Pultrusion
- Resin Infusion
- Out-of-Autoclave
-
Advanced Composites Market Matrix Type Outlook
- Thermosetting Polymer
- Thermoplastic Polymer
- Metal Matrix
- Ceramic Matrix
-
Advanced Composites Market Regional Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
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Report Attribute/Metric
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Details
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Market Size 2023
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39.69(USD Billion)
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Market Size 2024
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41.85(USD Billion)
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Market Size 2035
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75.0(USD Billion)
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Compound Annual Growth Rate (CAGR)
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5.45% (2025 - 2035)
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Report Coverage
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Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
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Base Year
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2024
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Market Forecast Period
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2025 - 2035
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Historical Data
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2019 - 2024
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Market Forecast Units
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USD Billion
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Key Companies Profiled
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Kering SA, DuPont de Nemours, Teijin Limited, Mitsubishi Chemical Corporation, Toray Industries, BASF SE, Hexcel Corporation, Hexion Inc., Cytec Industries, Royal DSM, Scott Bader Company, 3M Company, Solvay SA, Owens Corning, SABIC
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Segments Covered
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Application, Type, Manufacturing Process, Matrix Type, Regional
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Key Market Opportunities
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Increased demand in the aerospace sector, Growth in renewable energy applications, Rising automotive lightweighting initiatives, Expansion in defense and military use, Advancements in manufacturing processes
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Key Market Dynamics
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rising demand in the aerospace industry, increasing focus on lightweight materials, growing automotive sector applications, advancements in manufacturing technologies, expanding end-use industries
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Countries Covered
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North America, Europe, APAC, South America, MEA
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Advanced Composites Market Highlights:
Frequently Asked Questions (FAQ) :
The Advanced Composites Market was valued at 41.85 USD Billion in 2024.
By 2035, the Advanced Composites Market is projected to reach a value of 75.0 USD Billion.
The CAGR for the Advanced Composites Market is expected to be 5.45% from 2025 to 2035.
North America held the largest market share in the Advanced Composites Market, valued at 12.5 USD Billion in 2024.
The Automotive application segment of the Advanced Composites Market was valued at 10.5 USD Billion in 2024.
Key players in the Advanced Composites Market include DuPont de Nemours, Toray Industries, and BASF SE, among others.
The Aerospace application segment is expected to reach a market value of 23.0 USD Billion by 2035.
The Asia Pacific region is expected to grow to a market value of 24.0 USD Billion in the Advanced Composites Market by 2035.
The Electronics application segment held a market size of 7.0 USD Billion in 2024.
The Construction application segment is expected to reach a market value of 15.0 USD Billion by 2035.
