Composites Market Analysis

End-user (Electrical & Electronics, Automotive & Transportation, Wind Energy, Aerospace & Defense)

The composites market is segmented and analysed for demand and supply by end use into electrical & electronics, automotive & transportation, wind energy, aerospace & defense, pipes & tanks, and construction & infrastructure. Out of which, automotive & transportation segment is anticipated to garner the largest revenue by the end of 2037. The growth of this segment is anticipated by growing automotive industry. Also there has been growing investment made in automotive industry which is also expected to boost the market growth. For instance, between April 2000 and March 2022, the automotive industry attracted about USD 30 Billion worth of FDI in equity, or approximately 5% of all FDI in equity during that time.

Major Macro-Economic Indicators Impacting the Market Growth

The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Program), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labor as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.

Our in-depth analysis of the global market includes the following segments:

By Fiber Type	Glass Fiber Composites Carbon Fiber Composites Natural Fiber Composites
By Resin	Thermoplastic Thermosetting
By Manufacturing Process	Injection Molding Process Resin Transfer Molding Process Pultrusion Process Layup Process Filament Winding Process Compression Molding Process
By End Use	Electrical & Electronics Automotive & Transportation Wind Energy Aerospace & Defense Pipes & Tanks Construction & Infrastructure

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of composites is evaluated at USD 121.01 billion.

The composites market size was valued at USD 114.68 billion in 2024 and is likely to exceed USD 272.06 billion by the end of 2037, expanding at over 6.9% CAGR during the forecast period i.e., between 2025-2037. The market growth is driven by growing infrastructure activities of roads and bridges, surge in usage of composites in aerospace, rise in aging infrastructure, and others.

Asia Pacific is set to hold largest industry share by 2037, owing to growing disposable income in the region.

The major players in the market include Huntsman Corporation LLC, SGL Carbon, Teijin Limited, PPG Industries, Inc., Toray Industries, Inc., Owens Corning, Hexcel Corporation, DuPont, Momentive Performance Materials, Inc., China Jushi Group Co., Ltd.

Composites Market Analysis