Composites Market Report Scope & Overview:

The Composites Market Size was valued at USD 116.75 billion in 2022, and expected to reach USD 216.09 billion by 2030, and grow at a CAGR of 8% over the forecast period 2023-2030.

Composites are created by microscopic interactions between two or more chemically different phases of materials. Composites are divided into polymer, metal, ceramic, carbon, and graphite categories depending on the matrix. Due to its improved desired characteristics, it can be used in a variety of industries, including aerospace & military and construction.

Composites Market Revenue Analysis

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Market Dynamics:


  • After COVID-19, the composites market will be driven by government stimulus programmes.

  • Utilization and demand for composites are both on the rise.


  • Manufacturing technology are not standardised.

  • High Prices


  • Rising demand in developing nations

  • Knowledge and Replacement


  • Creating inexpensive technology

  • Issues with Recycling and Standardization

Impact of COVID-19:

Due to lockdowns implemented in the majority of regions to stop the spread of COVID-19, the global composites market is currently experiencing a severe downturn. Because of this, the demand has essentially decreased for the time being and is unlikely to go up again until governments all over the world abandon their restrictive measures. The demand for composites has decreased globally as a result of the closure of production facilities by major composites users in the automotive, aerospace, and construction industries. Due to their acquisition operations, sector and geographic mix, and trends, the separate corporations have displayed a variety of tendencies.

Polyester, epoxies, vinyl ester, phenolic, polyurethane, thermoplastic resin, fillers, fibreglass, aramid, carbon, pigments, flame retardants, and titanium dioxide are important raw ingredients used in the production of composites. Due to the COVID-19 outbreak, the bulk of raw materials providers in this market were forced to close their operational facilities. The major providers changed their attention from battling the virus to providing relief from the pandemic. Due to trade restrictions and the global shutdown of numerous operations, obtaining raw materials has grown challenging. Additionally, the pandemic-related shutdown and the drop in oil prices combined have made the oversupply problem worse. It has also affected the suppliers' ability to maintain price margins during challenging times. However, these enterprises have resumed operations, and various international limitations have been eliminated, making it easier to travel and conduct business around the world. The use of masks, hand washing, sanitising, social seclusion, temperature monitoring, regular cleaning, and disinfection within facilities are just a few of the important precautions that suppliers are adhering to.

Market Segmentation:

By Fiber Type

  • Glass Fiber Composites

  • Carbon Fiber Composites

  • Natural Fiber Composites

  • Other Fiber Composites

By Resin Type

  • Thermoset Composites

  • Thermoplastic Composites

By end-use industry

  • Aerospace & defense

  • Wind Energy

  • Automotive & Transportation

  • Construction & Infrastructure

  • Marine

  • Pipe & Tank

  • Electrical & Electronics

  • Others

By Manufacturing Process

  • Lay-up

  • Filament Winding

  • Injection Molding

  • Pultrusion

  • Compression Molding

  • RTM

  • Others

Composites Market Segmentation Analysis

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Regional Analysis:

The booming aerospace, defence, and wind energy industries in North America are what are driving demand. Additionally, the U.S. car manufacturing industries have shown a significant penetration of composites for the production of essential vehicle parts and are projected to increase demand over the anticipated time.

The primary factors affecting the market in Europe include increasing demand from the automotive sector, rising defence spending across several nations, and rising demand from the electronics industry. Additionally, it is projected that growing manufacturer awareness of the advantages the product offers would provide the market expansion in the area new impetus. One of the most difficult markets for composites is Central and South America. The region's political and economic unrest has significantly hampered industry expansion during the past ten years. The demand is projected to be supported by rising investments in the area's auto manufacturing sector.


  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • south Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

Key Players:

Solvay (Belgium), Hexion (US), Toray Industries Inc. (Japan), Jushi Group Co., Ltd (China), Hexcel Corporation (US), Owens Corning (US), Teijin Limited (Japan), PPG Industries, Inc. (US), SGL Carbon (Germany), Mitsubishi Chemicals Corporation (Japan), Huntsman International LLC (US).

Hexcel Corporation (US)-Company Financial Analysis


Composites Market Report Scope:
Report Attributes Details
Market Size in 2022 US$ 116.75 Billion
Market Size by 2030 US$ 216.09  Billion
CAGR CAGR of 8.2% From 2023 to 2030
Base Year 2022
Forecast Period 2023-2030
Historical Data 2019-2021
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By Fiber Type (Glass Fiber Composites, Carbon Fiber Composites, Natural Fiber Composites, Other Fiber Composites)
• By Resin Type (Thermoset Composites, Thermoplastic  Composites)
• By end-use industry (Aerospace & defense,Wind Energy, Automotive & Transportation, Constr, ction & Infrastructure, Marine, Pipe & Tan, Electrical & Electronics, Others)
• By Manufacturing Process (Lay-up, Filament Winding, Injection Molding, Pultrusion, Compression Molding, RTM, Others)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles Solvay (Belgium), Hexion (US), Toray Industries Inc. (Japan), Jushi Group Co., Ltd (China), Hexcel Corporation (US), Owens Corning (US), Teijin Limited (Japan), PPG Industries, Inc. (US), SGL Carbon (Germany), Mitsubishi Chemicals Corporation (Japan), Huntsman International LLC (US).
DRIVERS • After COVID-19, the composites market will be driven by government stimulus programmes.
• Utilization and demand for composites are both on the rise.
Restraints • Manufacturing technology are not standardised.
• High Prices

Frequently Asked Questions

Ans: Key stakeholders considered in the study:
Raw material vendors
regulatory authorities, including government agencies and NGO
commercial research & development (r&d) institutions
importers and exporters
government organizations, research organizations, and consulting firms
trade/industrial associations
end-use industries are the stake holder of this report

Ans: Manufacturers, Consultant, aftermarket players, association, Research institute, private and universities libraries, suppliers and distributors of the product.

Ans: Solvay (Belgium), Hexion (US), Toray Industries Inc. (Japan), Jushi Group Co., Ltd (China), Hexcel Corporation (US), Owens Corning (US), Teijin Limited (Japan), PPG Industries, Inc. (US), SGL Carbon (Germany), Mitsubishi Chemicals Corporation (Japan) and Huntsman International LLC (US) are the major key players of Composites Market.

Ans: Manufacturing technology are not standardised and High Prices are the restraints for Composites Market.

Ans: Composites Market Size was valued at USD 116.75 billion in 2022, and expected to reach USD 216.09 billion by 2030, and grow at a CAGR of 8% over the forecast period 2023-2030.

Table of Contents

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

2. Research Methodology

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

4. Impact Analysis

4.1 COVID 19 Impact Analysis

4.2 Impact of Ukraine-Russia War

5. Value Chain Analysis

6. Porter’s 5 forces model

7.  PEST Analysis

8.Composites Market Segment, By Fiber Type

8.1 Glass Fiber Composites

8.2 Carbon Fiber Composites

8.3 Natural Fiber Composites

8.4 Other Fiber Composites

9.Composites Market Segment, By Resin Type

9.1 Thermoset Composites

9.2 Thermoplastic  Composites

10.Composites Market Segment, By end-use industry

10.1 Aerospace & defense

10.2 Wind Energy

10.3 Automotive & Transportation

10.4 Construction & Infrastructure

10.5 Marine

10.6 Pipe & Tank

10. 7 Electrical & Electronics

10.8 Others

11.Composites Market Segment, By Manufacturing Process

11.1 Lay-up

11.2 Filament Winding

11.3 Injection Molding

11.4 Pultrusion

11.5 Compression Molding

11.6 RTM

11.7 Others

12. Regional Analysis

12.1 Introduction

12.2 North America

12.2.1 USA

12.2.2 Canada

12.2.3 Mexico

12.3 Europe

12.3.1 Germany

12.3.2 UK

12.3.3 France

12.3.4 Italy

12.3.5 Spain

12.3.6 The Netherlands

12.3.7 Rest of Europe

12.4 Asia-Pacific

12.4.1 Japan

12.4.2 South Korea

12.4.3 China

12.4.4 India

12.4.5 Australia

12.4.6 Rest of Asia-Pacific

12.5 The Middle East & Africa

12.5.1 Israel

12.5.2 UAE

12.5.3 South Africa

12.5.4 Rest

12.6 Latin America

12.6.1 Brazil

12.6.2 Argentina

12.6.3 Rest of Latin America

13. Company Profile

13.1 Solvay (Belgium)

13.1.1 Financial

13.1.2 Products/ Services Offered

13.1.3 SWOT Analysis

13.1.4 The SNS view

13.2 Hexion (US)

13.3 Toray Industries Inc. (Japan)

13.4 Jushi Group Co., Ltd (China)

13.5 Hexcel Corporation (US)

13.6 Owens Corning (US)

13.7 Teijin Limited (Japan)

13.8 PPG Industries, Inc. (US)

13.9 SGL Carbon (Germany)

13.10 Mitsubishi Chemicals Corporation (Japan)

13.11 Huntsman International LLC (US).

14.Competitive Landscape

14.1 Competitive Benchmark

14.2 Market Share analysis

14.3 Recent Developments

15. Conclusion

An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.

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The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.

Secondary Research

Step 2: Primary Research

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We at SNS Insider have divided Primary Research into 2 parts.

Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.

This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.

Primary Research

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Data Bank Validation

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