The global Advanced Composites Market is witnessing significant expansion, backed by increasing applications across aerospace, automotive, wind energy, construction, and marine sectors. According to the latest industry insights published by Kings Research, the market, valued at USD 36.14 billion in 2023, is projected to reach USD 84.52 billion by 2031, growing at a CAGR of 11.26% during the forecast period (2024–2031). The exceptional mechanical performance, durability, and lightweight nature of advanced composites are key attributes fueling this market trajectory.
Market Overview
Advanced composites, including carbon fiber-reinforced polymer (CFRP), aramid fiber-reinforced polymer (AFRP), and glass fiber-reinforced polymer (GFRP), are widely utilized in high-performance applications requiring strength, heat resistance, and minimal weight. These materials offer exceptional stiffness-to-weight and strength-to-weight ratios, making them ideal for use in demanding environments. Their adoption is rapidly expanding in sectors where energy efficiency, fuel economy, and environmental compliance are critical.
One of the major driving forces for the market is the aerospace and defense sector. Commercial aircraft manufacturers such as Boeing and Airbus have increasingly integrated carbon fiber composites in structural components to reduce aircraft weight and fuel consumption. Likewise, automakers are replacing metal components with composites to meet stringent emission standards and achieve vehicle weight reduction. The growing shift toward electric vehicles (EVs) has further intensified the demand for lightweight, high-strength materials.
Market Trends
Several trends are shaping the future of the advanced composites industry. The shift toward sustainable and recyclable composite materials is gaining traction, particularly in Europe and North America. With increasing environmental regulations and consumer awareness, manufacturers are investing in green composite materials and innovative recycling technologies.
Another notable trend is the integration of smart composite structures equipped with sensors and self-healing capabilities. These “intelligent” composites are gaining interest in sectors like aerospace and defense for real-time health monitoring of structural components.
The development of low-cost manufacturing techniques, such as automated fiber placement (AFP) and resin transfer molding (RTM), is also making advanced composites more accessible to mass-market industries like automotive and construction. Moreover, technological advancements in thermoplastic composites are opening new avenues due to their recyclability and faster production cycles compared to thermoset composites.
Market Demand
Demand for advanced composites is being bolstered by the ongoing transformation in various industries. In aerospace, the increasing backlog of commercial aircraft orders and rising global air passenger traffic are propelling demand. Automotive manufacturers are using composites to produce lighter and more fuel-efficient vehicles, especially in luxury and electric vehicle segments.
The wind energy sector is another significant demand driver. The growth of wind farms, particularly offshore installations, necessitates the use of high-strength, corrosion-resistant materials. Wind turbine blades are being manufactured using carbon fiber composites to withstand extreme stress and environmental conditions.
In the sports and leisure segment, the demand for lightweight, durable, and high-performance equipment, such as bicycles, tennis rackets, and golf clubs, continues to rise. Moreover, infrastructure projects are integrating advanced composites in bridges and buildings for their corrosion resistance and longer lifecycle.
Market Dynamics
The growth of the advanced composites market is influenced by several dynamic factors. On the positive side, regulatory support for lightweight materials, fuel economy norms, and green building codes are driving adoption. The enhanced performance benefits, coupled with increasing R&D investments, are also contributing to widespread commercialization across end-use industries.
However, challenges such as high material and production costs, limited availability of skilled labor, and recycling complexity are restraining market growth. The capital-intensive nature of composite production lines and the need for specialized equipment and expertise can act as entry barriers for new players.
Furthermore, supply chain disruptions, particularly in the sourcing of raw materials like carbon fiber and resin systems, have emerged as challenges post-COVID-19. Companies are actively exploring localized supply chains and alternate materials to mitigate such risks in the future.
Future Outlook
The future of the advanced composites market looks promising, with expanding applications in emerging sectors such as urban air mobility (UAM), hydrogen storage, and space exploration. The rise of electric vertical takeoff and landing (eVTOL) aircraft is expected to open up a new frontier for ultra-lightweight composites.
Government initiatives worldwide supporting renewable energy and green mobility are likely to further accelerate market growth. Collaborations between material manufacturers and OEMs (Original Equipment Manufacturers) are expected to increase, leading to the development of application-specific composite solutions.
In the long run, the advent of 3D printing for composite parts, combined with artificial intelligence (AI)-based design and simulation tools, will revolutionize the manufacturing and customization of advanced composites. The market is also likely to benefit from increased focus on circular economy principles, with emphasis on material reuse, recycling, and eco-design.
Key Players
The global advanced composites market is moderately consolidated, with a mix of large multinational corporations and regional players competing on the basis of innovation, product quality, and cost. Prominent players identified in the Kings Research report include:
Toray Industries, Inc.
Teijin Limited
Hexcel Corporation
Solvay S.A.
Mitsubishi Chemical Group Corporation
SGL Carbon SE
Gurit Holding AG
Owens Corning
Huntsman Corporation
DuPont de Nemours, Inc.
These players are investing heavily in R&D to improve production efficiency, develop next-gen composites, and reduce overall costs. Strategic collaborations, mergers and acquisitions, and geographic expansions are key strategies adopted by market leaders to strengthen their market positions.
Market Segmentation
According to Kings Research, the advanced composites market is segmented based on product type, resin type, manufacturing process, end-user industry, and region.
By Product Type:
Carbon Fiber Composites
Aramid Fiber Composites
Glass Fiber Composites
Others
Carbon fiber composites dominate the market due to their superior strength-to-weight ratio and wide usage in aerospace and high-end automotive sectors.
By Resin Type:
Thermoset Composites
Epoxy
Polyester
Vinyl Ester
Thermoplastic Composites
Polyether Ether Ketone (PEEK)
Polyphenylene Sulfide (PPS)
Others
Thermoset resins, particularly epoxy, account for the largest share owing to their extensive use in aerospace and wind energy applications.
By Manufacturing Process:
Filament Winding
Pultrusion
Resin Transfer Molding (RTM)
Lay-Up Process
Injection Molding
Others
By End-Use Industry:
Aerospace & Defense
Automotive
Wind Energy
Construction
Marine
Electrical & Electronics
Sporting Goods
Others
Among these, aerospace and defense continue to be the leading segment, driven by high adoption of lightweight materials for fuel efficiency and performance.
Recent Developments
The advanced composites industry has witnessed a series of strategic developments aimed at capacity expansion, innovation, and sustainability:
In June 2023, Toray Industries announced the launch of a new ultra-high-strength carbon fiber composite for next-generation aerospace applications.
Hexcel Corporation entered a partnership with Lavoisier Composites in 2024 to develop carbon fiber recycling technologies.
Solvay S.A. introduced a new range of bio-based thermoplastic composites in 2023 to reduce environmental impact.
Teijin Limited expanded its production capacity in North America in early 2024 to cater to increasing demand from the automotive sector.
These developments underscore the industry's focus on strengthening supply chains, enhancing sustainability, and supporting innovation in emerging applications.
Regional Analysis
Regionally, North America holds a dominant share in the global advanced composites market, primarily due to the presence of leading aerospace companies, strong demand from automotive OEMs, and well-established R&D infrastructure. The U.S. is the largest consumer of advanced composites, driven by defense contracts and technological innovation.
Europe is another significant market, led by countries such as Germany, the UK, and France. Strict environmental regulations, emphasis on carbon neutrality, and a mature wind energy sector are the major drivers in the region. European companies are also at the forefront of sustainable and recyclable composite development.
Asia-Pacific is projected to register the highest growth rate during the forecast period. The region is witnessing rapid industrialization, expansion of aerospace and automotive manufacturing, and rising investments in renewable energy infrastructure. Countries like China, Japan, South Korea, and India are making significant strides in composites production and consumption.
Latin America and the Middle East & Africa (MEA) are emerging markets with growing interest in composites for infrastructure and energy applications. While these regions currently represent smaller shares, increasing foreign investments and infrastructure projects are expected to boost market penetration.
Get Full Detailed PDF Report- https://www.kingsresearch.com/advanced-composites-market-2196
Conclusion
The Advanced Composites Market is set to enter a transformative phase, driven by the confluence of technological innovation, environmental consciousness, and industrial diversification. As manufacturers continue to invest in new materials and production technologies, the scope of applications for advanced composites will broaden across established and emerging industries alike.
With strong growth forecast through 2031 and rising demand from sectors ranging from aerospace to renewable energy, stakeholders across the value chain—manufacturers, suppliers, investors, and policymakers—are well-positioned to capitalize on the immense potential of this dynamic market.
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