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Composites Market Forecast: What Value Will The Market Reach By 2030?
The composites market size has seen robust growth in recent years. It is anticipated to expand from $114.49 billion in 2025 to $125.61 billion in 2026, at a compound annual growth rate (CAGR) of 9.7%. The growth observed in the historic period can be attributed to early adoption in aerospace and defense, growth of automotive and transportation sectors, demand for corrosion-resistant and durable materials, development of advanced carbon and glass fiber technologies, and early use in wind energy and construction applications.
The composites market size is anticipated to undergo significant expansion in the coming years, with projections indicating it will reach $178 billion by 2030, demonstrating a compound annual growth rate (CAGR) of 9.1%. This expected growth during the forecast period is driven by factors such as the increasing demand for automotive lightweighting, a rise in renewable energy projects, broader applications in marine and pipe & tank sectors, escalating investments in smart and multifunctional composites, and increased adoption across electrical and electronics industries. Prominent trends throughout this period include the expanding use of lightweight and high-strength composites, the greater uptake of automated composite manufacturing processes, a growing need for smart composites equipped with embedded sensors, the extension of digital twin and IoT integration within composites production, and the increasing application of AI in material design and process optimization.
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Composites Market Growth Catalysts And Demand Drivers
The escalating need for renewable energy is projected to stimulate the growth of the composites market in the forthcoming years. Renewable energy constitutes power derived from naturally replenished and non-depleting resources like sunshine, water, wind, geothermal heat, and biomass. The inherent properties of composites, including their exceptional strength, resistance to corrosion, lightweight nature, and durability, position them as an attractive option for various components and structures utilized in renewable energy sources. For instance, in March 2025, according to the International Renewable Energy Agency (IRENA), a UAE-based international body focused on fostering collaboration, renewable power capacity saw an increase in 2024, reaching 4 448 gigawatts (GW). Moreover, the 585 GW added last year accounted for a 92.5% share of the total capacity expansion and signified a record annual growth rate of 15.1%. Hence, the increasing demand for renewable energy is propelling the composites market forward.
Composites Market Segment Analysis And Revenue Potential
The composites market covered in this report is segmented –
1) By Product: Carbon Fiber, Glass Fiber
2) By Manufacturing Process: Layup Process, Filament Winding Process, Injection Molding Process, Pultrusion Process, Compression Molding Process, Resin Transfer Molding Process, Other Processes
3) By Resin Type: Thermoset Composites, Thermoplastic Composites
4) By End-Use Industry: Aerospace and defense, Wind Energy, Automotive and Transportation, Construction & Infrastructure, Marine, Pipe and Tank, Electrical and Electronics, Other End-Users
Subsegments:
1) By Carbon Fiber: Prepreg Carbon Fiber, Continuous Carbon Fiber, Short Carbon Fiber
2) By Glass Fiber: E-Glass Fiber, S-Glass Fiber, C-Glass Fiber
Composites Market Trends Shaping Long-Term Demand
Major companies within the composites market are prioritizing technological advancements, particularly in the development of lightweight and high-strength composite materials, to meet the demands of industries such as aerospace, automotive, and renewable energy. The HexForce 1K woven reinforcement fabric represents a high-performance composite material engineered for enhanced strength and durability, finding typical application across various industrial sectors like aerospace and automotive. For instance, in September 2024, Hexcel Corporation, a US-based manufacturer specializing in reinforcement products, composite materials, and engineered products, unveiled its new HexForce 1K woven reinforcement fabric. This lightweight fabric incorporates Hexcel’s proprietary HexTow AS4C 1K carbon fiber, enabling the creation of composite materials that offer both high strength and low weight. These fabrics are exceptionally well-suited for diverse industrial uses, including golf shafts, hockey sticks, and automotive components.
Composites Market Industry Leaders And Competitive Landscape
Major companies operating in the composites market report are SGL Carbon Graphite Technic Co. Ltd., Axiom Materials Inc., Mitsubishi Rayon Carbon Fiber & Composites Inc., Johns Manville International Inc., Asahi Fibreglass Company, Owens Corning Fiberglass Company, China Fibreglass Company, Teijin Limited, Taishan Fibreglass SA, Kuraray Co. Ltd., Formosa Plastic Corp., Toray Industries Inc., DuPont de Nemours Inc., KCC Corporation, SAERTEX Wagener GmbH & Co. KG, Taiwan Glass Industry Corporation, Solvay SA, BASF SE, Huntsman Corporation LLC, TPI Composites Inc., Gurit Holding AG
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Composites Market Regional Analysis And Leading Geography
Asia-Pacific was the largest region in the composites market in 2025 and is also expected to be the fastest-growing region in the forecast period. The regions covered in the composites market are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Wasay has over a decade of experience in market research, data modelling, and analytics, with prior experience at GlobalData and Decision Tree Consulting Services. At The Business Research Company , he leads research operations across syndicated studies, customized consulting engagements, and the Global Market Model platform. His professional experience includes supporting organizations such as Boston Consulting Group, KPMG, and Ernst & Young. Wasay holds a degree in Electronics and Communications Engineering, postgraduate management qualifications from International Management Institute Belgium and Indian School of Business and Entrepreneurship, and completed the Integrated Program in Business Analytics from Indian Institute of Management Indore.
