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Fiber-Reinforced Polymers (FRP) And Composites Market Size Outlook: How Quickly Will Revenue Expand Through 2030?
The fiber-reinforced polymers (FRP) and composites market has experienced robust expansion in recent times. This market is projected to expand from $83.46 billion in 2025 to reach $88.75 billion by 2026, exhibiting a compound annual growth rate (CAGR) of 6.3%. Historically, this growth has stemmed from factors such as increasing steel cost, growth of aerospace manufacturing, infrastructure development, demand for lightweight materials, and the expansion of the construction industry.
The fiber-reinforced polymers (FRP) and composites market is projected to experience substantial expansion in the coming years, reaching $114.5 billion by 2030, demonstrating a compound annual growth rate (CAGR) of 6.6%. This anticipated growth stems from factors such as the increasing replacement of metals with composites, a heightened need for corrosion-resistant structures, the proliferation of large-scale infrastructure developments, advancements in aerospace and defense systems, and progress in composite recycling methods. Key developments during this period are expected to include the expanded application of FRP composites in aerospace and defense components, their growing integration into civil construction for reinforcement and retrofitting, increased demand for marine corrosion-resistant materials, the wider use of lightweight substitutes in automotive designs, and the evolution of sophisticated resin infusion and pultrusion manufacturing processes.
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Fiber-Reinforced Polymers (FRP) And Composites Market Growth Catalysts And Demand Drivers
The expanding integration of electric vehicles is anticipated to drive the fiber-reinforced polymers (FRP) and composites market forward. Electric vehicles (EVs) are automobiles powered by electric motors, drawing energy from rechargeable batteries, thus presenting a cleaner option compared to internal combustion engine vehicles. The surge in EV adoption stems from supportive governmental policies and increasing environmental awareness aimed at mitigating carbon emissions. Fiber-reinforced polymers and composites facilitate electric vehicle uptake by enabling lightweight vehicle designs, which in turn improve energy efficiency, extend driving range, and enhance overall vehicle performance while preserving strength and durability. For instance, in April 2024, the International Energy Agency, a France-based intergovernmental organization, indicated that global electric car sales approached 14 million units in 2023, signifying a 35% increase compared to 2022, with electric vehicles constituting around 18% of total car sales. Therefore, the heightened adoption of electric vehicles is propelling the growth of the fiber-reinforced polymers (FRP) and composites market.
Fiber-Reinforced Polymers (FRP) And Composites Market Segmentation: How Does The Market Break Down By Category?
The fiber-reinforced polymers (FRP) and composites market covered in this report is segmented –
1) By Product Material: Glass Fiber Reinforced Polymer (GFRP) Composites, Carbon Fiber Reinforced Polymer (CFRP) Composites, Basalt Fiber Reinforced Polymer (BFRP) Composites, Aramid Fiber Reinforced Polymer (AFRP) Composites
2) By Resin Type: Thermoset, Thermoplastic
3) By Application Material: Automotive, Construction, Electronic, Defense, Other Application Materials
Subsegments:
1) By Glass Fiber Reinforced Polymer Composites: E Glass Fiber Reinforced Polymer, S Glass Fiber Reinforced Polymer, Alkali Resistant Glass Fiber Reinforced Polymer, High Strength Glass Fiber Reinforced Polymer
2) By Carbon Fiber Reinforced Polymer Composites: Standard Modulus Carbon Fiber Reinforced Polymer, Intermediate Modulus Carbon Fiber Reinforced Polymer, High Modulus Carbon Fiber Reinforced Polymer, Ultra High Modulus Carbon Fiber Reinforced Polymer
3) By Basalt Fiber Reinforced Polymer Composites: Continuous Basalt Fiber Reinforced Polymer, Chopped Basalt Fiber Reinforced Polymer, Woven Basalt Fiber Reinforced Polymer, Unidirectional Basalt Fiber Reinforced Polymer
4) By Aramid Fiber Reinforced Polymer Composites: Para Aramid Fiber Reinforced Polymer, Meta Aramid Fiber Reinforced Polymer, Hybrid Aramid Fiber Reinforced Polymer, Woven Aramid Fiber Reinforced Polymer
Fiber-Reinforced Polymers (FRP) And Composites Market Trends Shaping Long-Term Demand
Leading companies in the fiber-reinforced polymers (FRP) and composites market are concentrating on technological advancements, such as advanced thermoplastic composite materials, to satisfy the escalating demand for lightweight, high-strength, and recyclable materials across automotive, aerospace, and industrial uses. Advanced thermoplastic composites are fiber-reinforced substances that employ thermoplastic resins as their matrix, delivering improved impact resistance, quicker processing cycles, and better recyclability compared to conventional thermoset-based composites. For example, in September 2024, Toray Industries, Inc., a Japan-based advanced materials manufacturer, unveiled Toray Cetex TC1130 PESU thermoplastic composite, a high-performance product crafted for aerospace interior and structural applications. Composed of polyethersulfone (PESU) resin strengthened with continuous carbon fiber, it provides outstanding flame retardancy, thermal stability, and mechanical strength. The material supports efficient manufacturing through thermoforming and welding, complies with rigorous fire, smoke, and toxicity (FST) standards, and aids in weight reduction, thereby boosting its suitability for sophisticated aerospace components.
Fiber-Reinforced Polymers (FRP) And Composites Market Competitive Overview And Top Companies
Major companies operating in the fiber-reinforced polymers (FRP) and composites market are BASF SE, Compagnie de Saint-Gobain S.A., Mitsubishi Chemical Group Corporation, Toray Industries Inc., Evonik Industries AG, DuPont de Nemours Inc., Owens Corning, LANXESS AG, Teijin Limited, Nippon Electric Glass Co. Ltd., Hexcel Corporation, SGL Carbon SE, Kordsa Teknik Tekstil A.S., Gurit Holding AG, RTP Company, SAERTEX GmbH & Co. KG, China Jushi Co. Ltd., Strongwell Corporation, Norplex-Micarta, Engineered Composites Ltd., American Grating LLC.
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Fiber-Reinforced Polymers (FRP) And Composites Market Leading Geography: Which Region Contributes The Most Revenue?
North America was the largest region in the fiber-reinforced polymers (FRP) and composites market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the fiber-reinforced polymers (FRP) and composites market report 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.