Composites Market Size

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. In the year 2025, the industry size of composites is evaluated at USD 121.01 billion.. The growth of the market can be attributed to rising demand for chemical and corrosion resistance material. These corrosion resistance material includes platinum and more. Platinum is known to be the least reactive metals and hence they are in high demand. Palladium was in high demand in North America in 2018 with approximate 65,000 ounces needed for the chemical industry.

Additionally, growing chemical industry is anticipated to be the another major factor expected to boost the growth of the market. For instance, India currently has an approximately USD 175 Billion for chemicals and petrochemicals, and by 2025, it is anticipated to reach about USD 299 Billion.