Innovation led by technological advancements for low-cost carbon fiber composites is projected to fuel the growth of the Thermoplastic Composites Market at a CAGR of 8.31% during the forecast period 2024 to 2032

Market Research Future (MRFR) has published a cooked research report on the “Global Thermoplastic Composites Market” that contains the information from 2018 to 2032.

The Thermoplastic Composites Market is estimated to register a CAGR of 8.31% during the forecast period of 2024 to 2032.

MRFR recognizes the following companies as the key players in the global Thermoplastic Composites Market— BASF SE, Toray Advanced Composites, Arkema, LANXESS, Celanese Corporation, Hexcel Corporation, SABIC, Avient Corporation, SGL Carbon, Solvay.

Market Highlights

The global Thermoplastic Composites Market is accounted for to register a CAGR of 8.31% during the forecast period and is estimated to reach USD  59,260.3  Million by 2032.

The global thermoplastic composites market is foreseen to grow during the forecast period 2024-2032 due to the developments in carbon fibre composites that are driving down their costs. High-end carbon fibre manufacturers such as Teijin Limited (Japan), Solvay (Belgium), BASF SE (Germany), Hexcel Corporation (US), Toray Industries, SGL Carbon (Bieberich, Germany), Mitsubishi Chemical, Cytec Engineered Materials, Toho Tenax (US), and Hexcel are all steadily coming out with new materials, organic and inorganic resins, and manufacturing processes to drive down manufacturing costs, processing temperatures, and recycle carbon fibre composites into greener forms. Teijin Limited finally achieved a breakthrough in mass producing carbon fibre-reinforced thermoplastics (CFRTP) at low costs and, within last year, it intensified its production, resulting in a new round of price decreases for thermoplastic polymers. Committed to supplying advanced materials for carbon fibre composites, Solvay has added to its portfolio of high-performance thermoplastic resins optimised for this groundbreaking class of materials: this new product offers improvements in mechanical performance and processability, as well as the potential for easy recycling.

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Segment Analysis

The global Thermoplastic Composites Market has been segmented based on Resin Type, Application, Product Type, Fiber Type and Region.

The global Thermoplastic Composites Market segmentation, based on Resin Type has been segmented as Polyamide, Polypropylene , PEEK, Hybrid , Others. Among these, the Polyamide segment is anticipated to dominate the global Thermoplastic Composites Market revenue through the projected period as estimated by MRFR analysts. In composite materials, polyamide serves as a matrix that can be reinforced with fibers such as glass, carbon, or aramid to enhance specific properties like stiffness and heat resistance. Polyamide composites are known for their low moisture absorption, chemical resistance, and good dimensional stability.

In the Fiber Type segment, the market is categorized as Glass Fiber, Carbon Fiber, Others. Out of which the Glass Fiber segment held the maximum share in the base year market and is also expected to be holding a significant share in the forecasted period as well.  Glass fiber composites are known for their cost-effectiveness, corrosion resistance, and electrical insulation properties. Advances in glass fiber technology, such as the development of continuous glass fiber composites, have improved the performance and processing capabilities of these materials.

The global Thermoplastic Composites Market segmentation, based on Product Type has been segmented as SFT, LFT,CFT, GMT. Among these, the SFT segment is anticipated to dominate the global Thermoplastic Composites Market. They are cost-effective and relatively easy to process, making them suitable for applications that require enhanced performance at a lower cost, such as automotive components, electronic enclosures, and consumer goods.

The global Thermoplastic Composites Market segmentation, based on Application has been segmented as Aerospace & Défense, Automotive & Transportation, Consumer Goods, Other. Among these, the Aerospace & Défense segment is anticipated to dominate the global Thermoplastic Composites Market. The product provide excellent impact resistance and can withstand extreme temperatures, making them suitable for critical structural components like wings, fuselage sections, and rotor blades. Additionally, thermoplastic composites offer improved corrosion resistance and reduced maintenance requirements compared to traditional materials, ensuring longer service life for aerospace and defense equipment.

Regional Analysis

By Region, the Thermoplastic Composites Market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. The Asia Pacific Thermoplastic Composites Market holds a considerable market share and is also forecasted to hold the largest share during the forecast period. The automotive sector in Asia Pacific with leading manufacturers such as Toyota, Hyundai, and Honda, is increasingly utilizing thermoplastic composites to produce lighter, more fuel-efficient vehicles that comply with stringent emissions regulations. In aerospace, companies like COMAC and Mitsubishi are incorporating thermoplastic composites into their aircraft designs to improve performance and reduce weight. The construction industry in Asia Pacific is also a major consumer of these materials, leveraging their durability, thermal insulation properties, and ease of installation for various building projects.

Key Findings of the Study

• The global Thermoplastic Composites Market is expected to reach USD 59,260.3 Million by 2032, at a CAGR of 8.31% during the forecast period.


• The Asia Pacific region accounted for the fastest-growing global market.


• Based on Resin Type, the Polyamide segment was attributed to holding the largest market in 2023.


• Based on Application, the Aerospace & Défense segment was attributed to holding the largest market in 2023.


• Based on Fiber Type, the Glass Fiber segment was attributed to holding the largest market in 2023.


• Based on Product Type, the SFT segment was attributed to holding the largest market in 2023.


• BASF SE, Toray Advanced Composites, Arkema, LANXESS, Celanese Corporation, Hexcel Corporation, SABIC, Avient Corporation, SGL Carbon, Solvay are the key market players.