Advanced Composites Market Size

Advanced Composites Market size is estimated at USD 44.7 billion in 2024 and is anticipated to cross USD 149.8 billion by the end of 2037, witnessing more than 10.6% CAGR during the forecast period i.e., between 2025-2037. In 2025, the industry size of advanced composites is evaluated at USD 49.4 billion.

Advanced composites are a rapidly growing industry, revolutionizing the approach to designing products, manufacturing, and utilization across various fields. Advanced composite materials combine more than two distinct substances to produce a product with special properties, such as increased strength, rigidity, and resistance to corrosion and heat. These materials are increasingly used in a wide range of applications, including aerospace, automotive, construction, sports equipment, wind energy, electronics, medical devices, industrial processes, marine, and consumer goods. As technology is advancing the demand for high-performance and quality materials growing. This can result in significant advanced composites market growth in the forthcoming years.

The market is experiencing steady growth and expansion owing to the growing need for lightweight materials, particularly in the aerospace and automotive industries. In the aerospace industry, advanced composites such as glass fiber-reinforced polymers (GFRP) and carbon fiber-reinforced polymers (CFRP) are used in the body structure of aircraft to mitigate fuel consumption and increase payload capacity. In the automotive sector, these advanced composite materials are utilized to manufacture body panels, engine components, and battery enclosures to enhance vehicle performance and fuel efficiency and decrease vehicle emissions.