Epoxy Composite Market

• Growing construction activities boost the market growth.

Demand for epoxy in various sectors is a crucial driver of the market. Automotive, transportation and aerospace markets will have more need for this material. Heat resistance, chemical resistance, exceptional adhesion, and UV resistance are qualities of epoxy composite. These features of the epoxy composite will attract many end-users to the market.

Especially, aerospace applications require composites with high chemical resistance. High mechanical strength is required in aerospace sectors for safety reasons. The adoption rate of epoxy chemicals will be massive in the forecast period. Further, demand from emerging nations is another crucial driver of this market. Industrialization in emerging markets is another factor driving demand. Due to industrialization production in aerospace, sporting, electronic goods, transportation, and construction industry will rise. 

Additionally, New manufacturing technologies are improving in this region. The production of high-quality composites is surging. It is a major reason that increases the growth of the overall epoxy composite market. The growth of the building, marine, pipe, and electronics industries is surging. The growing awareness about epoxy composite is a crucial driver of this market. In recent years, the industry has had exposure to this material. All these factors will cause an exceptional growth rate for this market.In October 2023, Gurit recently revealed that they have signed supply agreements for core material kits with two Wind Turbine OEMs.

The first agreement is for a four-year term and covers supply to one customer, while the second agreement is for three years, covering another customer.

The Global Epoxy Composite Market Industry is characterized by dynamic trends and projections that indicate a promising future. The market is expected to reach a value of 39.9 USD Billion in 2024, with a significant increase to 84.3 USD Billion by 2035. This growth trajectory suggests a compound annual growth rate of 7.05% from 2025 to 2035, reflecting the increasing adoption of epoxy composites across various industries. Factors such as technological advancements, rising demand in automotive and aerospace applications, and infrastructure development are likely to drive this growth, positioning epoxy composites as a key material in future industrial applications.

The aerospace sector significantly influences the Global Epoxy Composite Market Industry, as these materials are essential for manufacturing lightweight yet strong components. Epoxy composites are utilized in aircraft structures, interiors, and various components, enhancing performance and fuel efficiency. The increasing focus on reducing aircraft weight to improve fuel economy drives the adoption of epoxy composites. This trend is expected to contribute to the market's expansion, with projections indicating a market value of 84.3 USD Billion by 2035. The aerospace industry's commitment to innovation and performance optimization positions epoxy composites as a critical material in future aircraft designs.

The Global Epoxy Composite Market Industry experiences a notable surge in demand from the automotive sector, driven by the need for lightweight materials that enhance fuel efficiency and reduce emissions. Epoxy composites are increasingly utilized in manufacturing components such as body panels and structural parts, contributing to the overall performance of vehicles. As the automotive industry shifts towards electric vehicles, the demand for advanced materials like epoxy composites is expected to grow. This trend aligns with the projected market value of 39.9 USD Billion in 2024, indicating a robust growth trajectory fueled by technological advancements and sustainability initiatives.

The Global Epoxy Composite Market Industry benefits from the ongoing infrastructure development projects worldwide, as epoxy composites are increasingly used in construction and civil engineering applications. Their superior mechanical properties, resistance to corrosion, and lightweight nature make them ideal for various structural applications, including bridges, buildings, and pipelines. The growing emphasis on sustainable construction practices further drives the demand for epoxy composites, as they contribute to energy efficiency and durability. This trend indicates a robust market potential, as infrastructure investments continue to rise globally, supporting the overall growth of the epoxy composite sector.

Innovations in manufacturing technologies are reshaping the Global Epoxy Composite Market Industry, enabling the production of high-performance composites with enhanced properties. Techniques such as automated fiber placement and 3D printing are becoming more prevalent, allowing for precise control over material properties and reduced production costs. These advancements not only improve the efficiency of manufacturing processes but also expand the application range of epoxy composites across various industries. As a result, the market is poised for growth, with a projected compound annual growth rate of 7.05% from 2025 to 2035, reflecting the increasing adoption of advanced manufacturing techniques.

The Global Epoxy Composite Market Industry is significantly influenced by stringent environmental regulations and the growing emphasis on sustainability. Governments worldwide are implementing policies that encourage the use of eco-friendly materials, prompting industries to adopt epoxy composites due to their lower environmental impact compared to traditional materials. This shift towards sustainable practices is likely to enhance the demand for epoxy composites across various sectors, including automotive, aerospace, and construction. As industries strive to meet regulatory requirements and consumer expectations for sustainability, the epoxy composite market is expected to witness substantial growth in the coming years.

By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. Asia Pacific dominated the market and accounted for more than 36% of the revenue share in 2020. It is projected to expand further at the fastest CAGR of over 7% from 2021 to 2028 retaining its dominant position. This growth is attributed to high growth opportunities exhibited by the region owing to rapidly rising aircraft production, and ambitious electrical & electronics capacity addition targets by various companies.

The emergence of the Philippines, Indonesia, Singapore, Malaysia, and Vietnam as major shipbuilding centers in the Asia Pacific is also expected to drive the demand for composites in the region over the forecast period. Asia Pacific is the largest market for transportation ly and the presence of numerous automotive manufacturers coupled with steady growth in automobile production is expected to propel the regional market growth over the forecast period.

Figure 3:  EPOXY COMPOSITE MARKET SHARE BY REGION 2023 (%)

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

North America is also expected to witness considerable growth from 2021 to 2028 owing to the growing number of air passengers, the rise in the demand for private helicopters, and increasing investments in military space programs. Space exploration missions by NASA, SpaceX – a booming private sector space program in the U.S., and other space tourism expeditions, are anticipated to have a positive impact on the regional market. In addition, the emerging trend of renewable energy generation is also expected to drive product demand in the region.

Major market players are spending a lot of money on R&D to increase their product lines, which will help the Epoxy Composite market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Epoxy Composite industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.

The major market players are investing a lot of money in R&D to expand their product lines, which will spur further market growth for Epoxy Composite. With significant market development like new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their presence. To grow and thrive in a market climate that is becoming more competitive and growing, competitors in the Epoxy Composite industry must offer affordable products.

Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the Epoxy Composite industry to benefit customers and expand the market sector. The Low-Profile Additives market has recently given medicine some of the most important advantages. Major Epoxy Composite market players, including Axiom Materials, Barr day, Hexcel Corporation, Mitsubishi Chemical Corporation, and others, are attempting to increase market demand by funding R&D initiatives.

Axiom Materials is a manufacturer of composite materials and engineered products. It offers film adhesives, unidirectional tapes, polyesters, fiberglass, etc. The company caters to the aerospace, military, automotive, industrial, sports, and medical industries.

Also, Barrday is an advanced material solutions company whose product lines encompass applications for the composite, energy, and protective markets. It has expertise in fiber reinforcement, prepregs and laminates, coatings, adhesives, sealants, and core materials. The company offers research, development, testing, and other services.Westlake Chemical Corporation announced on November 2021 that it would acquire Hexion’s global epoxy business based out of Rotterdam, Netherlands; the deal was valued at around $1.2bn USD, according to sources close to the matter.