Advanced Composites Market Analysis

ID: MRFR/CnM/3257-HCR

200 Pages

Chitranshi Jaiswal

October 2025

Advanced Composites Market Research Report By Application (Aerospace, Automotive, Construction, Electronics, Marine), By Type (Carbon Fiber Composites, Glass Fiber Composites, Aramid Fiber Composites, Natural Fiber Composites, Hybrid Composites), By Manufacturing Process (Layup, Filament Winding, Pultrusion, Resin Infusion, Out-of-Autoclave), By Matrix Type (Thermosetting Polymer, Thermoplastic...

Summary Table of Contents Segmentation Download PDF

Market Analysis

Advanced Composites Market (Global, 2024)

Introduction

The advanced composites market is set to undergo a significant transformation as the need for lightweight, high-strength materials that improve performance and efficiency continues to grow. The advanced composites market comprises a wide range of materials, including carbon, glass and aramid fibre composites. It is driven by the growing demand from a range of end-use industries, such as aerospace, automobiles, construction and renewable energy. The unique properties of advanced composites, such as their resistance to corrosion, their high strength and their design flexibility, make them the ideal material for applications that require superior performance under challenging conditions. Moreover, as the advanced composites market grows, the industry is set to focus on the development of new manufacturing techniques and the use of sustainable processes. This dynamic industry presents both challenges and opportunities for the companies operating in it, such as the need to comply with regulations and to find cost-effective solutions in an increasingly competitive environment.

PESTLE Analysis

Political: In 2024, government policy increasingly favors the use of high-tech composites, especially in the military and aeronautical sectors. For example, the U.S. Department of Defense allocates some $ 1.2 billion for the development of new materials, including composites, to enhance military capabilities. The European Union, moreover, adopts regulations promoting sustainable materials, and sets a goal that by 2025, at least 30% of all public procurements should be in advanced composites.
Economic: In 2024, the global economy is characterized by a projected increase in manufacturing. The International Monetary Fund estimates a 3.5% growth rate in the manufacturing sector. This growth will mainly affect the demand for advanced composites in the automotive and aeronautical industries, where the combined spending on lightweight materials is expected to reach 15 billion dollars. In addition, the rising cost of traditional materials, steel for example, which will average 800 dollars a ton, will push manufacturers to look for cheaper composite alternatives.
Social: A survey conducted in the developed countries shows that 68 per cent of consumers are willing to pay a premium for products made from advanced composites. This trend is especially visible in the automobile industry, where manufacturers are increasingly turning to composites to reduce the weight of their vehicles and thus improve fuel efficiency. And with growing awareness of the environment, more and more companies are investing in advanced composites. By 2024, the investment in sustainable composites is expected to reach $500 million.
Technological: The production of advanced composites is advancing rapidly. The introduction of automation has made it possible to produce large quantities. By 2024 it is expected that 40 per cent of the production of advanced composites will be automated, reducing production time and costs. Also, 3D printing of composites is gaining in importance, and by 2024 the market for 3D printed composites is expected to reach $1.5 billion. These developments in technology will broaden the field of applications for advanced composites.
Legal: In 2024 the regulatory framework for the use of advanced composites is becoming more and more strict, especially in the field of aeronautics and automobiles. In the United States, the Federal Aviation Administration has issued new guidelines that by 2024, in order to ensure the safety and performance of new aircraft, the composite content of all new parts should be increased from 25% to 50%. It is becoming mandatory for manufacturers to comply with international standards such as ISO 9001, and in this sense about 60% of advanced composites companies are seeking certification to meet the legal requirements.
Environmental: In the field of environment, the study of the recyclability and life cycle assessment of advanced composites is carried out. It is estimated that by 2024 about twenty per cent of the advanced composites produced will be made from recycled materials, thereby demonstrating a growing concern for the environment. In addition, the carbon footprint of composite production is being addressed by measures to reduce emissions by fifteen per cent by 2025. The industry is investing in the development of eco-friendly production methods, and it is estimated that in the coming year about $300 million will be spent on research into biodegradable composites.

Porter's Five Forces

Threat of New Entrants: In 2024, the threat of new entrants to the Advanced Composites Market is moderate. There are high barriers to entry, including high capital requirements, and a need for specialized technology and expertise. Also, economies of scale and strong brand recognition, which the established companies benefit from, can act as a deterrent to newcomers. However, technological developments can lower some of these barriers, thereby making it easier for niche players to enter the market.
Bargaining Power of Suppliers: The bargaining power of suppliers in the market for advanced composites is medium. It is based on a limited number of suppliers of raw materials such as carbon fibres and resins, which gives the suppliers some leverage. However, the growing number of alternative materials and the potential for vertical integration in the supply chain may reduce this power. The increasing diversification of companies’ supply chains may also reduce the suppliers’ overall power.
Bargaining Power of Buyers: High - The buyers in the advanced composites market have high bargaining power due to the many alternatives and the relative ease of changing suppliers. These buyers, from industries such as aeronautics, automobiles and construction, are more and more demanding cost-effective and high-performance materials, which gives them a strong hand in negotiations. In addition, the trend towards more sustainable and lightweight materials makes it easier for buyers to choose the best option.
Threat of Substitutes: The threat of substitutes in the advanced composites market is medium. In spite of the unique properties of advanced composites such as high strength-to-weight ratios, there are alternatives such as metals, plastics, and traditional composites which can be used in similar applications. In the long term, however, the development of substitute materials will be a challenge.
Competitive Rivalry: Competition in the advanced composites market is high, mainly due to the presence of several established players and the rapid advancement of technology. Competition is therefore intense, as companies are constantly striving to improve the performance and reduce the cost of their products. The market is characterized by frequent takeovers and mergers, as companies try to increase their capabilities and market share. This intense competition often leads to price wars and increased marketing expenditure, which further intensifies competition.

SWOT Analysis

Strengths

High strength-to-weight ratio, making advanced composites ideal for aerospace and automotive applications.
Growing demand for lightweight materials to improve fuel efficiency and reduce emissions.
Technological advancements in manufacturing processes, enhancing product quality and reducing costs.

Weaknesses

High initial costs associated with raw materials and production processes.
Limited recycling options for certain composite materials, raising environmental concerns.
Complexity in design and manufacturing can lead to longer lead times.

Opportunities

Increasing investments in renewable energy sectors, such as wind and solar, driving demand for advanced composites.
Emerging markets in Asia-Pacific and Latin America presenting new growth avenues.
Potential for innovation in biocomposites and sustainable materials to meet regulatory requirements.

Threats

Intense competition from traditional materials like metals and plastics.
Economic fluctuations impacting manufacturing and supply chain stability.
Regulatory challenges related to environmental impact and material safety.

Summary

The advanced composites market in 2024 is characterized by significant advantages, such as high performance and technological development, but also by difficulties, such as high costs and the environment. Opportunities for growth are significant, especially in the field of green energy and emerging countries, but competition and regulations can affect the market structure. Companies must therefore be aware of innovation and sustainability as a strategic priority.

Market Highlights

Author

Chitranshi Jaiswal

Research Analyst Level I

In her 3 years of experience in the market research field, she has handled critical cross-domain projects. She has an in-depth knowledge of market estimation & analysis, problem-solving, primary as well as secondary research, and team management.She holds an engineering degree and is an MBA professional from a well-known university, capable of evaluating the market and competitive conditions. An exceptional strategist with excellent communication skills and a passion for delivering cutting-edge & practical insights for the market. Proficient in multi-tasking, and can successfully deal with competing demands, while maintaining complete confidentiality. Generated business through active client and project development, networking, and high-quality responses. Her knowledge and skills have helped in making solid business decisions, securing funding from investors, and avoiding business failures.

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FAQs

What was the market size of the Advanced Composites Market in 2024?

The Advanced Composites Market was valued at 41.85 USD Billion in 2024.

What will the market size of the Advanced Composites Market be like by 2035?

By 2035, the Advanced Composites Market is projected to reach a value of 75.0 USD Billion.

What is the expected compound annual growth rate (CAGR) for the Advanced Composites Market from 2025 to 2035?

The CAGR for the Advanced Composites Market is expected to be 5.45% from 2025 to 2035.

Which region held the largest market share in the Advanced Composites Market in 2024?

North America held the largest market share in the Advanced Composites Market, valued at 12.5 USD Billion in 2024.

What was the market value of the Automotive application segment in 2024?

The Automotive application segment of the Advanced Composites Market was valued at 10.5 USD Billion in 2024.

Which key players are prominent in the Advanced Composites Market?

Key players in the Advanced Composites Market include DuPont de Nemours, Toray Industries, and BASF SE, among others.

What is the expected market value for the Aerospace application segment by 2035?

The Aerospace application segment is expected to reach a market value of 23.0 USD Billion by 2035.

How much is the Asia Pacific region expected to grow in the Advanced Composites Market by 2035?

The Asia Pacific region is expected to grow to a market value of 24.0 USD Billion in the Advanced Composites Market by 2035.

What was the market size for the Electronics application segment in 2024?

The Electronics application segment held a market size of 7.0 USD Billion in 2024.

What is the expected market value for the Construction application segment in 2035?

The Construction application segment is expected to reach a market value of 15.0 USD Billion by 2035.

1. Market Overview

2. Market Trends

3. Market Segment Insights

4. Key Players and Competitive Insights

5. Industry Developments

6. Market Segmentation

7. Report Scope

8. Market Highlights

9. FAQs

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Market Summary

As per MRFR analysis, the Advanced Composites Market Size was estimated at 41.85 USD Billion in 2024. The Advanced Composites industry is projected to grow from 44.13 USD Billion in 2025 to 75.03 USD Billion by 2035, exhibiting a compound annual growth rate (CAGR) of 5.45 during the forecast period 2025 - 2035.

Key Market Trends & Highlights

The Advanced Composites Market is poised for substantial growth driven by sustainability and technological innovations.

North America remains the largest market for advanced composites, particularly in the aerospace sector. Asia-Pacific is emerging as the fastest-growing region, fueled by increasing demand in the automotive industry. The aerospace segment continues to dominate, while the automotive segment is experiencing rapid growth due to evolving technologies. Key market drivers include rising demand in the aerospace sector and the transformation of the automotive industry.

Advanced Composites Market

CAGR

5.45%

Market Size & Forecast

2024 Market Size	41.85 (USD Billion)
2035 Market Size	75.03 (USD Billion)
CAGR (2025 - 2035)	5.45%
Largest Regional Market Share in 2024	North America

Major Players

Hexcel Corporation (US), Toray Industries, Inc. (JP), SGL Carbon SE (DE), Mitsubishi Chemical Corporation (JP), Teijin Limited (JP), Cytec Industries Inc. (US), Solvay S.A. (BE), 3M Company (US), BASF SE (DE)

Market Trends

The Advanced Composites Market is currently experiencing a transformative phase, driven by the increasing demand for lightweight and high-performance materials across various industries. This market encompasses a diverse range of materials, including carbon fiber, glass fiber, and aramid fiber composites, which are utilized in sectors such as aerospace, automotive, and construction. The emphasis on sustainability and energy efficiency is prompting manufacturers to innovate and develop advanced composite solutions that not only enhance performance but also reduce environmental impact. As industries strive for greater efficiency and lower emissions, the Advanced Composites Market is poised for substantial growth, reflecting a shift towards more sustainable practices. In addition to sustainability, technological advancements play a crucial role in shaping the landscape of the Advanced Composites Market. Innovations in manufacturing processes, such as automated fiber placement and additive manufacturing, are enabling the production of complex geometries and tailored properties. This evolution is likely to enhance the performance characteristics of composite materials, making them more appealing to end-users. Furthermore, the integration of smart technologies into composite materials is emerging as a notable trend, potentially leading to the development of self-sensing and self-repairing composites. Overall, the Advanced Composites Market appears to be on a trajectory of growth, driven by a combination of sustainability, technological innovation, and evolving consumer preferences.

Sustainability Initiatives

The Advanced Composites Market is increasingly influenced by sustainability initiatives, as industries seek to minimize their environmental footprint. Manufacturers are focusing on developing eco-friendly materials and processes, which may lead to a rise in the use of bio-based composites and recycling technologies. This trend reflects a broader commitment to sustainable practices across various sectors.

Technological Advancements

Technological advancements are reshaping the Advanced Composites Market, with innovations in manufacturing techniques and material properties. The adoption of automated processes and advanced manufacturing methods is likely to enhance production efficiency and material performance. This evolution may result in composites that are lighter, stronger, and more versatile.

Integration of Smart Technologies

The integration of smart technologies into composite materials is emerging as a significant trend within the Advanced Composites Market. This development could lead to the creation of self-sensing and self-repairing composites, which may enhance the functionality and longevity of products. Such innovations are expected to attract interest from various industries seeking advanced solutions.

The Global Advanced Composites Market is poised for growth, driven by increasing demand for lightweight materials across various industries, which enhances performance and efficiency.

U.S. Department of Energy

Advanced Composites Market Market Drivers

Military and Defense Applications

The military and defense sectors are increasingly turning to advanced composites for their unique properties, including high strength-to-weight ratios and resistance to harsh environments. The advanced composites market is likely to see substantial growth as defense contractors seek to enhance the performance and durability of military vehicles, aircraft, and naval vessels. Recent estimates suggest that the defense sector's investment in advanced composites could exceed several billion dollars in the coming years, driven by the need for advanced materials that can withstand extreme conditions while maintaining operational efficiency. This trend indicates a robust demand for advanced composites, positioning the market as a critical component in the modernization of defense capabilities.

Rising Demand in Aerospace Sector

The aerospace sector is experiencing a notable surge in demand for advanced composites, driven by the need for lightweight materials that enhance fuel efficiency and performance. Advanced composites market is projected to witness a compound annual growth rate of approximately 8% over the next five years, as manufacturers increasingly adopt these materials to meet stringent regulatory standards and consumer expectations. The integration of advanced composites in aircraft structures not only reduces weight but also improves durability and resistance to environmental factors. As airlines focus on reducing operational costs and enhancing sustainability, the adoption of advanced composites is likely to become a pivotal strategy. This trend indicates a robust growth trajectory for the advanced composites market, as aerospace manufacturers invest in research and development to innovate and optimize composite materials.

Automotive Industry Transformation

The automotive industry is undergoing a significant transformation, with advanced composites playing a crucial role in the development of lighter, more fuel-efficient vehicles. The advanced composites market is expected to benefit from the increasing emphasis on electric vehicles (EVs) and hybrid models, which require materials that can reduce weight without compromising safety. Recent data suggests that the use of advanced composites in automotive applications could lead to weight reductions of up to 50%, thereby enhancing vehicle performance and range. As manufacturers strive to meet evolving consumer preferences and regulatory requirements, the integration of advanced composites is likely to accelerate. This shift not only supports the automotive industry's sustainability goals but also positions the advanced composites market as a key player in the future of transportation.

Emerging Applications in Consumer Goods

The advanced composites market is witnessing emerging applications in consumer goods, particularly in sports equipment, electronics, and high-performance consumer products. As manufacturers seek to enhance product performance and durability, the integration of advanced composites is becoming increasingly prevalent. For instance, the use of advanced composites in sporting goods can lead to lighter and more resilient products, appealing to performance-oriented consumers. Market data suggests that the consumer goods sector's adoption of advanced composites could grow significantly, potentially reaching a multi-billion dollar valuation by the end of the decade. This trend highlights the versatility of advanced composites and their potential to revolutionize various consumer markets, further driving the growth of the advanced composites market.

Growth in Renewable Energy Applications

The renewable energy sector is increasingly adopting advanced composites for various applications, particularly in wind turbine blades and solar panels. The advanced composites market is projected to expand as the demand for efficient and durable materials rises in the renewable energy landscape. Wind energy, for instance, has seen a significant increase in the use of advanced composites, with blades made from these materials offering improved performance and longevity. Reports indicate that the market for composite materials in wind energy could reach several billion dollars by 2026, reflecting a growing recognition of their benefits. This trend underscores the potential for the advanced composites market to contribute to The Advanced Composites.

Market Segment Insights

By Application: Aerospace (Largest) vs. Automotive (Fastest-Growing)

In the Advanced Composites Market, the application segment exhibits diverse distribution across sectors, with Aerospace holding the largest share due to its demand for lightweight and high-strength materials. The Automotive sector, while smaller currently, is rapidly evolving as manufacturers seek advanced composites to enhance fuel efficiency and performance. As electric and autonomous vehicles become more prevalent, the shift towards composite materials in automotive applications is gaining momentum.

Aerospace (Dominant) vs. Automotive (Emerging)

Aerospace remains the dominant application for advanced composites, characterized by its stringent performance requirements and stringent safety standards. This segment necessitates materials that provide high strength-to-weight ratios, thermal stability, and resistance to fatigue, making advanced composites essential for aircraft structures. Conversely, the automotive industry is emerging as a significant growth sector, driven by innovations in electric vehicles and a push towards sustainability. Automotive manufacturers are increasingly integrating advanced composites into their designs to achieve enhanced performance metrics and reduce overall weight, supporting the transition to greener technologies.

By Type: Carbon Fiber Composites (Largest) vs. Glass Fiber Composites (Fastest-Growing)

In the Advanced Composites Market, carbon fiber composites hold the largest market share, recognized for their superior strength-to-weight ratio and corrosion resistance. <a href="https://www.marketresearchfuture.com/reports/glass-fiber-reinforced-concrete-market-6220">Glass fiber</a> composites follow, offering a balance of cost and performance across various applications. These materials serve growing sectors such as aerospace, automotive, and construction, driving competition among these two prominent segments. The market for glass fiber composites is experiencing rapid growth, fueled by their increasing adoption in wind energy, transportation, and consumer goods. Innovations in manufacturing processes and enhanced material properties are key drivers, enabling the glass fiber segment to capture a larger share of the market. As industries continue to seek lightweight and durable solutions, the potential for both carbon and glass fiber composites remains strong.

Carbon Fiber Composites (Dominant) vs. Aramid Fiber Composites (Emerging)

Carbon fiber composites dominate the Advanced Composites Market, renowned for their impressive tensile strength and lightweight nature, making them ideal for high-performance applications like aerospace and motorsport. Their extensive use in the manufacture of semi-structures, as well as increasing investments in carbon fiber production, bolster their market position. On the other hand, aramid fiber composites, particularly known for their resistance to impact and high temperatures, represent an emerging segment with growing applications in protective gear and automotive components. Though they currently hold a smaller market share, advancements in production technologies and broadening application horizons in sectors such as military and aerospace highlight their potential for rapid growth.

By Manufacturing Process: Layup (Largest) vs. Resin Infusion (Fastest-Growing)

The Advanced Composites Market showcases a diverse array of manufacturing processes, with Layup commanding significant market share due to its established applications across various industries including aerospace and automotive. This traditional method has been a prominent choice for fabricating composite materials given its simplicity and versatility. In contrast, Resin Infusion is emerging rapidly, appealing to manufacturers for its efficiency and ability to produce high-quality, complex geometries with enhanced performance characteristics.

Layup (Dominant) vs. Resin Infusion (Emerging)

Layup remains the dominant process in the Advanced Composites Market, particularly favored for its effectiveness in producing large parts across diverse applications. It involves manually laying composite sheets into molds, making it highly adaptable to different designs and specifications. Additionally, Layup’s extensive industry use underscores its reliability and cost-effectiveness. On the other hand, Resin Infusion is positioned as an emerging favorite due to its ability to achieve optimal fiber wet-out and eliminate voids within the composite structure. This method is increasingly preferred in sectors that require precision-engineered parts, contributing to its rapid growth as sustainability and efficiency become pivotal for manufacturers.

By Matrix Type: Thermosetting Polymer (Largest) vs. Thermoplastic Polymer (Fastest-Growing)

In the Advanced Composites Market, the matrix type segment exhibits a diverse distribution among its core components: Thermosetting Polymers, Thermoplastic Polymers, Metal Matrix Composites, and <a href="https://www.marketresearchfuture.com/reports/ceramic-matrix-composites-market-6045">Ceramic Matrix Composites</a>. Thermosetting Polymers hold the largest share of the market, favored for their strength and thermal stability, while Thermoplastic Polymers are noted for their growing popularity, attributed to their recyclability and ease of processing. Metal and Ceramic Matrix Composites also maintain significant roles but are characterized by specific applications rather than widespread dominance. Growth trends in this segment are driven by advancements in manufacturing processes and an increasing demand for lightweight and high-performance materials across various industries, including aerospace and automotive. Thermoplastic Polymers are gaining traction as they offer versatility in applications and sustainability aspects, making them the fastest-growing segment in the matrix type category. Meanwhile, Thermosetting Polymers continue to be a dependable choice, supporting substantial market expansion as their applications broaden across innovative engineering solutions.

Thermosetting Polymer (Dominant) vs. Metal Matrix (Emerging)

Thermosetting Polymers are the dominant force in the Advanced Composites Market, widely appreciated for their excellent mechanical properties, heat resistance, and dimensional stability. These materials are extensively used in applications requiring rigid structures, such as automotive parts and aerospace components. In contrast, Metal Matrix Composites, categorized as an emerging segment, are gaining attention for their lightweight and high-strength characteristics, often used in specialized applications like defense and space. The growing interest in these composites is fueled by advances in metal matrix technologies that enhance performance attributes, positioning them as a viable alternative to traditional materials for innovative engineering applications.

Get more detailed insights about Advanced Composites Market Research Report - Forecast till 2035

Regional Insights

North America led with a valuation of 12.5 USD Billion in 2024, emphasizing its significance and dominance in aerospace and automotive sectors, supported by continuous investments in Research and Development. Europe followed closely with a market valuation of 10.5 USD Billion in 2024, strengthened by a robust manufacturing base and stringent regulations driving the demand for lightweight materials.

Asia Pacific, valued at 14.0 USD Billion in 2024, emerged as a critical player due to its rapid industrialization and increasing demand in the transportation sector, highlighting its market growth potential.

Meanwhile, South America, with a value of 2.0 USD Billion, slowly gained traction as industries sought to enhance their production capabilities. The Middle East and Africa, valued at 3.85 USD Billion, witnessed gradual advancements in composite technology, focusing on oil and gas applications.

Each region contributed significantly to the Advanced Composites Market revenue, particularly North America and Asia Pacific, which dominated the market due to favorable government initiatives and technological advancements.

Advanced Composites Market Regional Insights

Source: Primary Research, Secondary Research, Market Research Future Database and Analyst Review

Key Players and Competitive Insights

The Advanced Composites Market is characterized by its dynamic landscape, driven by innovative technologies and heightened demand across various industries, including aerospace, automotive, and construction.

As the market evolves, competitive insights reveal that organizations are leveraging advancements in material science to enhance product performance, reduce weight, and improve durability. The growing need for high-performance materials has led to strategic collaborations, mergers, and acquisitions among key players, enabling them to expand their market presence and diversify their product offerings.

In this competitive environment, companies are focusing on research and development to sustain their competitive advantage and meet the evolving needs of customers across global markets.

Kering SA has established a notable presence in the Advanced Composites Market through its commitment to sustainability and innovation. The company emphasizes eco-conscious practices while delivering high-quality composite materials that cater to a wide range of applications.

With a strong focus on brand reputation, Kering SA leverages its strengths in design and creativity to introduce advanced composite solutions that align with modern consumer preferences for lightweight and durable products.

The firm's strategic initiatives have enabled it to forge valuable partnerships, thus enhancing its market reach and establishing itself as a leader in sustainability within the composites sector.

DuPont de Nemours has a substantial footprint in the Advanced Composites Market, known for its diverse range of specialized products and exceptional material performance. The company is recognized for its innovations in composite technology, particularly in areas such as aerospace and high-performance automotive applications.

DuPont de Nemours offers key products that include advanced composite solutions with superior thermal stability and mechanical properties, positioning itself as a vital player in the industry. The company has pursued strategic mergers and acquisitions to bolster its product portfolio and expand its market presence globally.

This focus on growth, coupled with a commitment to research and development, has solidified DuPont de Nemours as a competitive force, allowing it to respond effectively to market demands and trends.

Key Companies in the Advanced Composites Market market include

Industry Developments

Q2 2024: Solvay opens new composite materials facility in South Korea to support aerospace growth Solvay inaugurated a new advanced composites manufacturing plant in Gunsan, South Korea, aimed at supplying lightweight materials for aerospace and defense customers in Asia.
Q2 2024: Toray Industries announces partnership with Boeing for next-generation carbon fiber composites Toray Industries signed a multi-year agreement with Boeing to co-develop advanced carbon fiber composite materials for use in future commercial aircraft.
Q2 2024: Hexcel launches new HexPly® M51 prepreg for high-rate aerospace manufacturing Hexcel introduced HexPly® M51, a new prepreg system designed to enable faster production rates and improved performance for aerospace composite structures.
Q2 2024: Teijin acquires Renegade Materials to expand aerospace composites portfolio Teijin Limited completed the acquisition of Renegade Materials, a US-based supplier of heat-resistant composite materials, strengthening its position in the aerospace sector.
Q3 2024: SGL Carbon secures multi-year contract with BMW for carbon fiber automotive components SGL Carbon signed a multi-year supply agreement with BMW to provide carbon fiber composite materials for use in electric vehicle chassis and body panels.
Q3 2024: Spirit AeroSystems opens new composites manufacturing center in Malaysia Spirit AeroSystems launched a new composites manufacturing facility in Subang, Malaysia, to support growing demand from commercial aerospace customers in the Asia-Pacific region.
Q3 2024: Toray Industries unveils new thermoplastic composite for hydrogen storage tanks Toray Industries announced the launch of a new thermoplastic composite material designed for lightweight, high-pressure hydrogen storage tanks used in fuel cell vehicles.
Q4 2024: Hexcel and Safran sign partnership to develop next-generation engine composites Hexcel and Safran entered a strategic partnership to co-develop advanced composite materials for use in next-generation aircraft engine components.
Q4 2024: Mitsubishi Chemical Group wins contract to supply composites for Airbus A350 Mitsubishi Chemical Group secured a contract to supply advanced composite materials for the production of Airbus A350 aircraft, expanding its footprint in the aerospace sector.
Q1 2025: Hexcel Corporation appoints Tom Gentile as new CEO Hexcel Corporation announced the appointment of Tom Gentile as Chief Executive Officer, effective January 2025, to lead the company’s growth in advanced composites.
Q1 2025: Spirit AeroSystems wins contract for composite wing structures for new Boeing model Spirit AeroSystems was awarded a major contract to manufacture composite wing structures for Boeing’s upcoming commercial aircraft program.
Q2 2025: Teijin launches new carbon fiber composite for wind turbine blades Teijin introduced a new carbon fiber composite material specifically engineered for use in next-generation wind turbine blades, targeting the renewable energy market.

Future Outlook

Advanced Composites Market Future Outlook

The Advanced Composites Market is projected to grow at a 5.45% CAGR from 2024 to 2035, driven by innovations in manufacturing processes, increasing demand in aerospace, and automotive sectors.

New opportunities lie in:

Development of bio-based composite materials for sustainable applications.Expansion into emerging markets with tailored composite solutions.Investment in advanced recycling technologies for composite materials.

By 2035, the Advanced Composites Market is expected to achieve substantial growth, reflecting evolving industry demands.

Market Segmentation

Advanced Composites Market Type Outlook

Carbon Fiber Composites
Glass Fiber Composites
Aramid Fiber Composites
Natural Fiber Composites
Hybrid Composites

Advanced Composites Market Application Outlook

Aerospace
Automotive
Construction
Electronics
Marine

Advanced Composites Market Matrix Type Outlook

Thermosetting Polymer
Thermoplastic Polymer
Metal Matrix
Ceramic Matrix

Advanced Composites Market Manufacturing Process Outlook

Layup
Filament Winding
Pultrusion
Resin Infusion
Out-of-Autoclave

Report Scope

MARKET SIZE 2024	41.85(USD Billion)
MARKET SIZE 2025	44.13(USD Billion)
MARKET SIZE 2035	75.03(USD Billion)
COMPOUND ANNUAL GROWTH RATE (CAGR)	5.45% (2024 - 2035)
REPORT COVERAGE	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
BASE YEAR	2024
Market Forecast Period	2025 - 2035
Historical Data	2019 - 2024
Market Forecast Units	USD Billion
Key Companies Profiled	Market analysis in progress
Segments Covered	Market segmentation analysis in progress
Key Market Opportunities	Growing demand for lightweight materials in aerospace and automotive sectors drives Advanced Composites Market expansion.
Key Market Dynamics	Rising demand for lightweight materials drives innovation and competition in the Advanced Composites Market.
Countries Covered	North America, Europe, APAC, South America, MEA