Green Composites Market Size

Green Composites Market size was over USD 30.07 Billion in 2023 and is likely to reach USD 76.07 Billion by the end of 2036, growing at around 7.4% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of green composites is assessed at USD 32.07 Billion. Governments around the world are introducing regulations to reduce carbon emissions and encourage the use of environmentally friendly materials. These regulations and initiatives consist of tax benefits, subsidies, and incentives for industry players to adopt eco-friendly sustainable solutions such as green composites. For instance, the European Union has set a goal of reducing greenhouse gas emissions by 55% by 2030, and using eco-friendly composite materials can help achieve these goals.

Consumers are becoming increasingly aware of the environmental impact of the products they use. Therefore, nowadays consumers are highly watchful of what they are purchasing and consuming. As a result, there is a growing demand for sustainable and environmentally friendly products, including eco-friendly composite materials. Also, manufacturers and producers are responding to this demand of customers and as a result, they implementing green composites in their products as per customer preference. Research shows that 60% of consumers worldwide consider sustainability when making purchasing decisions.