Report Details:
15 Companies Covered
128 Pages
Technological Advancements and Innovation to Fuel the Thermoplastic Composites Market Advancement at a CAGR of 8.31% through the Forecast Period 2025 to 2035
Overview of the Thermoplastic Composite Market
The global thermoplastic composites market continues to gain momentum, driven by rising demand for lightweight, high-performance materials across aerospace, automotive, consumer goods, and industrial applications.
The market was valued at 31.29 USD million in 2024 and is projected to reach 75.31 USD million by 2035, expanding at a CAGR of 8.31% during 2025–2035. Growth is fueled by rapid industrial adoption of recyclable composites, the shift toward sustainable manufacturing, and increasing regulatory emphasis on reducing carbon emissions.
North America remained the leading region, supported by strong aerospace and automotive production, while Asia-Pacific was the fastest-growing hub, driven by large-scale industrialization and expanding composite manufacturing capabilities.
As industries prioritize lightweighting, performance, and sustainability, thermoplastic composites are emerging as a preferred material for next-generation engineering applications.
Segment Insights
The thermoplastic composites market exhibits a diverse segmentation across resin types, fibers, product categories, and applications. Polyamide represents the dominant resin type due to its superior mechanical strength, heat resistance, and broad applicability in automotive and industrial components.
In contrast, polypropylene is the fastest-growing resin, favored for its lightweight, cost-effective profile and increasing integration into consumer goods and mobility solutions. Other resins, such as PEEK and hybrid formulations, cater to specialized high-performance environments.
By fiber type, glass fiber accounts for the largest market share, supported by a balanced cost-to-performance ratio that makes it suitable for mass-market automotive, construction, and electrical applications.
Carbon fiber, meanwhile, is growing at an accelerated pace, propelled by surging adoption in aerospace, electric vehicles, and high-performance sporting goods due to its exceptional strength-to-weight ratio.
In product type analysis, short fiber thermoplastics (SFT) dominate the market as a result of their versatility and affordability in high-volume automotive and electronics manufacturing.
Long fiber thermoplastics (LFT) and continuous fiber thermoplastics (CFT), however, are witnessing rapid demand growth as industries seek next-level performance characteristics, especially for lightweight structural parts.
In application segmentation, aerospace and defense remain the largest sector, driven by demand for fuel-efficient aircraft structures and compliance with stringent safety standards.
Automotive and transportation is the fastest-growing segment, benefiting from electric vehicle adoption, emission-reduction mandates, and the need for thermally stable, lightweight components.
Regional Insights
North America was the largest market for thermoplastic composites, holding approximately 40% of the global share. The region’s growth is driven by rising demand across aerospace, automotive, and construction, supported by regulations that encourage the adoption of lightweight, high-performance materials.
The US and Canada dominated regional consumption, benefiting from advanced manufacturing ecosystems, sustainability initiatives, and strong R&D infrastructure.
Key players such as Toray Industries, BASF SE, and Hexcel Corporation significantly contribute to innovation, while government support for advanced materials further strengthens North America’s leadership position.
Europe stood as the second-largest regional market, accounting for nearly 30% of the global share. Its growth trajectory is shaped by strict environmental policies, rapid adoption of sustainable materials, and widespread deployment of thermoplastic composites in automotive lightweighting and next-generation aircraft platforms.
Germany and France remained pivotal markets, driven by strong industrial bases and continuous investment in composite R&D. The EU’s Green Deal and long-term climate-neutrality targets further accelerate the region’s transition to advanced composite materials, reinforcing Europe’s role as a global sustainability leader.
The Asia-Pacific held close to 25% of the global market and represents the fastest-growing region. Its expansion was underpinned by large-scale industrialization, increasing adoption of lightweight composites in vehicles and electronics, and strong government support for manufacturing development.
China led regional demand due to its extensive industrial infrastructure, while India and Japan show growing interest in advanced materials innovation.
Companies such as Teijin Limited and Mitsubishi Chemical Corporation continue expanding regional footprints, while local manufacturers intensify competition and diversify supply capabilities.
The Middle East and Africa region accounted for roughly 5% of the global share and is gradually emerging as a strategic growth arena. Infrastructure expansion, construction investment, and industrial diversification, particularly in GCC countries, are creating new opportunities for composite adoption.
The UAE and Saudi Arabia led regional development, supported by evolving regulations and an increasing focus on modern materials in the automotive and construction sectors. The presence of major players like SABIC strengthens competitive dynamics and supports wider adoption of thermoplastic composites.
Key Players
Key players in the Thermoplastic Composites Market include Toray Industries, BASF SE, SABIC, Solvay SA, Teijin Limited, Mitsubishi Chemical Corporation, Hexcel Corporation, Celanese Corporation, and DSM.
Industry Developments
· In April 2025, BASF SE qualified its Elastollan® FC thermoplastic polyurethane food-contact grade at its Shanghai plant and showcased the new material at CHINAPLAS 2025.
· In June 2025, BASF SE launched its #OurPlasticsJourney initiative, introducing the rPCF portfolio featuring reduced-carbon-footprint engineering and thermoplastic polyurethane materials.
· In June 2025, Toray Industries introduced new thermoplastic composite grades, Toray Cetex® TC1130 PESU and TC915 PA+, and reinforced its aerospace strategy at the 2025 Paris Air Show.
· In April 2025, Toray, in partnership with Daher and Tarmac Aerosave, launched a joint end-of-life aircraft recycling program to recover thermoplastic composites.
Key Findings
· The global thermoplastic composites market reached USD 31.29 million in 2024. The sector promises to reach USD 75.31 million by 2035, adhering to an impressive CAGR of 8.31%.
· Polyamide remained the dominant resin type, while polypropylene was the fastest-growing.
· Glass fiber held the largest share, while carbon fiber was expanding rapidly. SFT led the product segment, supported by mass-market adoption.
· The aerospace and defense category was the largest application area, with automotive and transportation growing the fastest.
· North America led the market, while Asia-Pacific demonstrated the strongest growth trajectory.
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