Advanced Composites Market Size Worth USD 116.76 Billion by 2034 | CAGR: 9.3%

The global advanced composites market size is expected to reach USD 116.76 billion by 2034, according to a new study by Polaris Market Research. The report “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” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Advanced composites are lightweight, strong engineered materials that consist of high-performance reinforcing fibers. They are made by combining a resin with a reinforcement such as carbon fiber, fiberglass, or aramid fiber. The properties of the resulting composite are different than that of the individual components.

Advanced composites are being increasingly used in transportation and aerospace & defense. These composites offer lower weight, high fatigue life, and corrosion resistance in various applications. Also, they can be altered and modified to deliver a wide range of properties and offer customized solutions.

The rising need for lightweight components, especially turbines to increase the efficiency of wind farms, is projected to have a favorable impact on the demand for advanced composites. Composite-based turbines have low wind resistance and rotate easily to produce high amounts of electricity, which is anticipated to boost advanced composites market growth during the forecast period.

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The top market participants are undertaking R&D initiatives to enhance their product offerings and boost revenue. Also, they are focusing on offering customized advanced composites to clients. In addition, they are involved in notable collaborations with technology companies and research firms to develop advanced composites.

Advanced Composites Market Report Highlights

• Based on fiber type, the carbon fiber segment dominated the advanced composites market revenue with the largest revenue share of 69.33% in 2024, as it offers greater performance under extreme conditions and has high chemical resistance.
• Based on manufacturing process, the AFP/ATL segment accounted for a significant market share in 2024, as products made with the manufacturing process offer higher performance while also withstanding physical and chemical influences.
• North America dominated the advanced composites market with a revenue share of 41.63% in 2024. The rising automotive penetration and growing demand from the defense & aerospace sector primarily drive the demand for advanced composites in the region.
• 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 industries is expected to boost the market growth in Asia Pacific during the forecast period.
• A few global key market players include 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.

Polaris Market Research has segmented the advanced composites market report on the basis of fiber type, manufacturing process, end use, and region:

By Fiber Type Outlook (Revenue – USD Billion, 2020–2034)

• Aramid Fiber
• S-Glass Fiber
• Carbon Fiber
• Others

By Manufacturing Process Outlook (Revenue – USD Billion, 2020–2034)

• Injection Molding Process
• Resin Transfer Molding Process
• Compression Molding Process
• AFP/ATL
• Others

By End Use Outlook (Revenue – USD Billion, 2020–2034)

• Automotive & Transportation
• Sporting Goods
• Wind Energy
• Construction
• Aerospace & Defense
• Medical
• Marine
• Electrical & Electronics
• Others

By Regional Outlook (Revenue – USD Billion, 2020–2034)

• 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