Advanced Composites Market Size, Share, Trends, Industry Analysis Report: By Fiber Type (Aramid Fiber, S-Glass Fiber, Carbon Fiber, and Others), Manufacturing Process, End Use, and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Market Forecast, 2025–2034
- Published Date:Feb-2025
- Pages: 120
- Format: PDF
- Report ID: PM1169
- Base Year: 2024
- Historical Data: 2020-2023
Advanced Composites Market Overview
The global advanced composites market size was valued at USD 43.51 billion in 2024. The market is projected to grow from USD 47.96 billion in 2025 to USD 116.76 billion by 2034, exhibiting a CAGR of 9.3% from 2025 to 2034.
Advanced composites are strong, lightweight materials that have high fatigue life and corrosion resistance. The composites are utilized in applications requiring greater freedom of design, easier handling and assembly, reduced replacement costs, minimum maintenance requirements, and long service life. They are used in diverse industries such as transportation, electronics, aerospace & defense, marine, and wind energy.
The increased demand for advanced composites from the transportation and aerospace & defense sectors due to rapid urbanization and industrialization is one of the key factors driving the advanced composites market growth. In addition, rising environmental concerns and the implementation of strict government regulations have led to a growing emphasis on the usage of wind energy and power generated from renewable energy sources, thereby driving the adoption of advanced composites in the renewable energy sector.
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Growing investments in research and development, technological advancements, and rising applications of advanced composites are the key trends anticipated to drive the advanced composites market expansion during the forecast period. The increased need for compact and intricate material designs is anticipated to create lucrative market opportunities during 2025–2034.
Advanced Composites Market Dynamics
High Demand from Aerospace Industry
The aerospace industry has always been at the forefront of the technological revolution. Also, it has been the promoter of the development of advanced engineering materials. Aircraft components, which are often exposed to extreme conditions such as high temperature and pressure, need materials with properties such as high strength, damage tolerance, and corrosion resistance. The numerous benefits of advanced composites, such as lightweight, high strength, excellent fatigue and fracture properties, and multifunctional performances, make them suitable for a wide range of aerospace applications. Thus, the high demand from the aerospace industry is a key driver of the advanced composites market development.
Advancements in Manufacturing Technologies
Advancements in manufacturing technologies are another major advanced composites market revenue contributor. Innovations in manufacturing technologies such as 3D printing, additive manufacturing, and automated fiber placement (AFP) enable rapid and precise manufacturing of advanced composites with minimal waste. Also, these manufacturing methods improve scalability, making it easy for manufacturers to cater to the growing demand for advanced composites across diverse industries. In addition, these manufacturing processes allow for the development of lighter and more durable composites, opening new applications and further driving their adoption in various sectors.
Advanced Composites Market Segmentation
Advanced Composites Market Outlook Based on Fiber Type
The advanced composites market, based on fiber type, is segmented into aramid fiber, S-glass fiber, carbon fiber, and others. The carbon fiber segment dominated the market with the largest revenue share of 69.33% in 2024. Carbon fiber composites are known for their high strength and flexibility. Also, they offer greater performance under extreme conditions and have high chemical resistance. The increasing use of carbon fiber in automotive and aerospace components drives the growth of the segment. In addition, the use of carbon fiber composites is increasing significantly in pipes & tanks, sporting equipment, and the automotive industry, further having a favorable impact on the segment growth.
Advanced Composites Market Assessment Based on Manufacturing Process
The advanced composites market, based on manufacturing process, is segmented into injection molding process, resin transfer molding process, compression molding process, AFP/ATL, and others. The AFP/ATL segment accounted for a significant market share in 2024. The AFP/ATL manufacturing process is used to develop lightweight, durable, and superior products to be used in diverse industries such as aerospace, healthcare, and electronics. These products offer higher performance while withstanding physical and chemical influences.
Advanced Composites Market Insights Based on End Use
The advanced composites market, based on end use, is segmented into automotive and transportation, sporting goods, wind energy, construction, aerospace & defense, medical, marine, electrical & electronics, and others. The aerospace & defense segment is projected to register a significant CAGR from 2025 to 2034. Advanced composite products provide strong bonds, high heat, chemical resistance, reduced weight, and improved fuel efficiency, which are crucial in the aerospace & defense sector. Besides, governments worldwide are making significant investments in the development of aerospace equipment, further driving the segment growth.
Advanced Composites Market Regional Analysis
The market report offers advanced composites market insights into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America dominated the market with a revenue share of 41.63% in 2024. The rapid industrialization, rising automotive production, and growing demand from the defense & aerospace sector primarily drive the advanced composites market expansion in the region. Besides, rising R&D initiatives, technological advancements, and the presence of major market participants contribute to the regional market growth.
The Asia Pacific advanced composites market is projected to register the highest CAGR from 2025 to 2034. The rising demand for advanced composites in the automotive and aerospace & defense industry is expected to boost the market growth in the region. Further, the rapidly growing economies and rising investments by major manufacturers in countries such as China and India are expected to have a positive impact on regional advanced composites market demand.
Advanced Composites Market – Key Players and Competitive Insights
The advanced composites market is characterized by intense competition, driven by factors such as innovative product offerings, technological advancements, mergers and acquisitions, and other strategic partnerships. Key players in the market strive to differentiate themselves in terms of pricing, quality, offering, and customer service. Also, they are making significant investments in R&D initiatives to introduce new composites to cater to diverse consumer needs.
Several advanced composites market participants are prioritizing the development of sustainable and eco-friendly composites that comply with stringent government regulations. The advanced composites market research report offers a market assessment of all the major players, including Toray Industries Inc.; Koninklijke Ten Cate B.V.; Mitsubishi Chemical Holding Corporation; Hexcel Corporation; DowAksa Advanced Composites Holdings BV; Huntsman International, LLC.; 3M Company; Honeywell International Inc.; Teijin Limited; PPG Industries; Advanced Composites Inc.; and Axalta Coating Systems, LLC.
List of Key Companies in Advanced Composites Market
- Toray Industries Inc.
- Koninklijke Ten Cate B.V.
- Mitsubishi Chemical Holding Corporation
- Hexcel Corporation
- DowAksa Advanced Composites Holdings BV
- Huntsman International, LLC.
- 3M Company
- Honeywell International Inc.
- Teijin Limited
- PPG Industries
- Advanced Composites Inc.
- Axalta Coating Systems, LLC.
Advanced Composites Industry Developments
June 2022: Hexcel Corporation announced its agreement with Sikorsky to supply advanced composite structures for the CH-53K King Stallion heavy lift helicopter program. Hexcel stated that the agreement will have a significant impact on the expansion of its composite content on the helicopter.
February 2022: Teijin Limited inaugurated a new composites manufacturing facility in the Wujin National Hi-Tech Industrial Zone based in Changzhou, Jiangsu province, China. The company stated that the new facility has 39,000 square meters of work area.
Advanced Composites Market Segmentation
- Aramid Fiber
- S-Glass Fiber
- Carbon Fiber
- Others
By Manufacturing Process Outlook
- Injection Molding Process
- Resin Transfer Molding Process
- Compression Molding Process
- AFP/ATL
- Others
By End Use Outlook
- Automotive & Transportation
- Sporting Goods
- Wind Energy
- Construction
- Aerospace & Defense
- Medical
- Marine
- Electrical & Electronics
- Others
By Regional Outlook
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Netherlands
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Malaysia
- South Korea
- Indonesia
- Australia
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Israel
- South Africa
- Rest of Middle East & Africa
- Latin America
- Mexico
- Brazil
- Argentina
- Rest of Latin America
Advanced Composites Market Report Scope
|
Report Attributes |
Details |
|
Market Size Value in 2024 |
USD 43.51 billion |
|
Market Size Value in 2025 |
USD 47.96 billion |
|
Revenue Forecast by 2034 |
USD 116.76 billion |
|
CAGR |
9.3% from 2025 to 2034 |
|
Base Year |
2020 |
|
Historical Data |
2020–2023 |
|
Forecast Period |
2025–2034 |
|
Quantitative Units |
Revenue in USD billion and CAGR from 2025 to 2034 |
|
Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
|
|
Regional Scope |
|
|
Competitive Landscape |
|
|
Report Format |
|
|
Customization |
Report customization as per your requirements with respect to countries, regions, and segmentation. |
FAQ's
The market size was valued at USD 43.51 billion in 2024 and is projected to grow to USD 116.76 billion by 2034.
The market is projected to register a CAGR of 9.3% from 2025 to 2034
North America accounted for the largest region-wise market size in 2024.
A few key players in the market are Toray Industries Inc.; Koninklijke Ten Cate B.V.; Mitsubishi Chemical Holding Corporation; Hexcel Corporation; DowAksa Advanced Composites Holdings BV; Huntsman International, LLC.; 3M Company; Honeywell International Inc.; Teijin Limited; PPG Industries; Advanced Composites Inc.; and Axalta Coating Systems, LLC
The AFP/ATL segment accounted for a significant market share.
The aerospace & defense segment is projected to register a significant CAGR from 2025 to 2034.
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