Global Composite Material Market Growth, Share, Size, Trends and Forecast (2025 - 2031)

• In February 2024 - Owens Corning acquired USD 3.9 billion of Masonite. This acquisition would strengthen the company's position in building and construction materials and the glass reinforcement business within its Composites segment.
• In June 2023 - Solvay is collaborating with Spirit AeroSystems. Both companies will engage in composite development. This merger would lead to collaborative research into sustainable aircraft technologies and processes with Spirit’s industrial, academic, and supply-chain partners.

The Global Composite Material Market is segmented across several key dimensions, starting with resin types, which include thermoset and thermoplastic resins. Thermoset resins, such as epoxy, polyester, and vinyl ester, are widely preferred for their exceptional mechanical strength, heat resistance, and durability, making them ideal for high-performance applications in sectors like aerospace, automotive, and construction. In contrast, thermoplastic resins, such as polyamide and polypropylene, offer advantages in terms of flexibility, ease of processing, and recyclability. These materials are gaining traction in industries that prioritize cost efficiency, fast production rates, and the ability to reshape and reuse materials, particularly in automotive and electronics sectors.

In addition to resin types, the market is segmented by coating materials, which include gel coats and surface veils. Gel coats provide a smooth, aesthetically appealing finish, while also offering protection from UV rays, moisture, and abrasion. These are particularly popular in the marine, automotive, and construction industries. Surface veils, often used in high-performance applications, offer additional protection, enhancing durability and resistance to environmental stress. When combined with different fiber types, such as glass fiber, carbon fiber, and aramid fiber, these coatings contribute to the overall strength, lightweight properties, and impact resistance of composite materials. Carbon fiber, known for its high strength-to-weight ratio, is increasingly utilized in industries like aerospace and automotive, while glass and aramid fibers are common in construction and defense sectors.

The market is further segmented by adhesives, including epoxies, bismaleimides, cyanate esters, modified acrylics, polyurethanes, and silicones. These adhesives are crucial for bonding composite materials in various applications, with each type offering specific advantages depending on the environment and requirements. For example, epoxies are favored in high-performance sectors for their strength and resistance, while silicones provide flexibility and heat resistance, making them ideal for electronics and automotive. The end-user industries driving demand for composite materials include construction, transportation, electronics & electrical, healthcare, power generation, industrial, aerospace & defense, and marine. The growth in these sectors is fueled by the increasing need for lightweight, durable, and energy-efficient materials, with composites being integral to improving performance, reducing weight, and enhancing sustainability in industries ranging from construction to aerospace.

Global Composite Material Segment Analysis

In this report, the Global Composite Material Market has been segmented by Resin, Coating, Fiber Type, Adhesives, End-user Industry, and Geography.

Global Composite Material Market, Segmentation by Resin

The Global Composite Material Market is segmented by Resin into Thermoset Resin and Thermoplastic Resin.

The Global Composite Material Market is segmented by resin type, with two primary categories: thermoset resin and thermoplastic resin. Thermoset resins are widely used in the composite material industry due to their ability to undergo a chemical reaction during curing, resulting in a permanent, rigid structure that provides excellent mechanical strength and heat resistance. Common thermoset resins such as epoxy, polyester, and vinyl ester are employed in applications that demand high performance and durability, including aerospace, automotive, and construction. Their ability to maintain structural integrity under extreme conditions makes them ideal for industries that require reliable, long-lasting materials.

Thermoplastic resins, on the other hand, are gaining popularity due to their flexibility and ease of processing. Unlike thermosets, thermoplastic resins can be heated and reformed multiple times, making them suitable for applications that require reshaping or recycling. These resins, such as polyamide (PA), polypropylene (PP), and polyetheretherketone (PEEK), are increasingly used in industries such as automotive, aerospace, and electronics, where lightweight, high-strength materials are needed. The ability to process thermoplastics at lower temperatures and faster production rates enhances their appeal, particularly for high-volume manufacturing and cost-effective production.

Both thermoset and thermoplastic resins offer distinct advantages depending on the application. Thermoset resins are favored for their superior mechanical properties and resistance to heat and chemicals, making them ideal for high-performance sectors. Thermoplastics, with their recyclability and processing advantages, are becoming a key focus in industries aiming for sustainability and cost-efficiency. The growing demand for lightweight, durable, and high-performance materials across a variety of sectors, including automotive, aerospace, and electronics, continues to drive the expansion of both resin segments in the global composite material market.

Global Composite Material Market, Segmentation by Coating

The Global Composite Material Market is segmented by coating into Gel Coat and Surface Veil.

Gel Coat is a key component used to provide a durable and aesthetically pleasing finish to composite materials. It is commonly employed in applications where a high-quality surface finish is required, such as in marine, automotive, and aerospace industries. Gel Coats are known for their excellent resistance to environmental factors like UV radiation, moisture, and chemicals, enhancing the longevity and performance of composite products.

Surface Veil is another important coating type used in the composite materials market. It is applied as a thin layer on the surface of composite materials to improve their overall surface properties. Surface Veils are designed to enhance the surface finish, provide additional protection against abrasion, and improve the bond strength of composites. They are often used in applications requiring high-quality surfaces with minimal defects, such as in high-end consumer goods and industrial components.

Both Gel Coat and Surface Veil coatings play crucial roles in the composite materials market by offering distinct benefits tailored to various applications. The choice between these coatings depends on the specific requirements of the end-use application, including the need for durability, appearance, and environmental resistance.

Global Composite Material Market, Segmentation by Fiber Type

The Global Composite Material Market is segmented by fiber type into Glass Fiber, Carbon Fiber, Aramid Fiber, and Others.

Glass fiber, known for its affordability and versatility, is widely used in applications ranging from automotive to construction. Carbon fiber, with its high strength-to-weight ratio, finds extensive use in aerospace and sports equipment.

Aramid fiber, recognized for its durability and resistance to heat, is commonly utilized in military and protective gear. The Others category includes fibers such as basalt and natural fibers, each offering unique properties tailored to specific industrial needs. This segmentation highlights the diverse range of composite materials available to meet varying performance requirements.

Global Composite Material Market, Segmentation by Adhesives

The Global Composite Material Market is segmented by Adhesives into Epoxies, Bismaleimide, Cyanate Ester, Modified Acrylics, Polyurethanes, and Silicones.

The Global Composite Material Market is categorized by adhesives, which play a critical role in bonding composite materials for various applications. Epoxies are one of the leading adhesive types due to their exceptional strength, resistance to environmental factors, and ability to provide a strong bond in high-performance composites. They are widely used in aerospace, automotive, and construction industries. Bismaleimide adhesives are also gaining traction due to their high-temperature resistance and superior mechanical properties, making them ideal for aerospace and military applications where extreme conditions are prevalent.

Cyanate ester adhesives are recognized for their outstanding thermal stability and excellent dielectric properties. These adhesives are primarily used in electronics, telecommunications, and other industries where materials need to withstand high temperatures and electrical stresses. Modified acrylics are another important adhesive type in the market, known for their fast curing times, ease of application, and ability to bond dissimilar materials. This makes them a popular choice in automotive and industrial applications where efficiency and strength are critical. Polyurethanes, offering flexibility and toughness, are commonly used in applications such as construction and marine, where resistance to impact and moisture is crucial.

Silicones, the final category of adhesives in the global composite material market, are valued for their high heat and chemical resistance, making them suitable for extreme environments like automotive, electronics, and construction. They provide excellent adhesion to a wide range of materials and are used in applications where flexibility and long-term durability are important. The increasing demand for advanced composite materials in industries like aerospace, automotive, and construction, driven by the need for lightweight, high-performance materials, continues to drive the growth of various adhesive segments in the composite material market. Each adhesive type offers unique advantages, catering to different industry needs and boosting the overall growth of the market.

Global Composite Material Market, Segmentation by End-user Industry

The Global Composite Material Market is segmented by End-user Industry into Construction, Transportation, Electronics & Electrical, Healthcare, Power Generation, Industrial, Aerospace & Defense, Marine, and Others.

The Global Composite Material Market is segmented by end-user industry, with significant demand coming from construction, transportation, and electronics & electrical sectors. In the construction industry, composite materials are increasingly being used for their strength, durability, and thermal insulation properties, particularly in building facades, roofing systems, and insulation panels. In the transportation sector, composites are valued for their lightweight yet strong characteristics, which help in reducing vehicle weight, improving fuel efficiency, and enhancing performance, especially in automobiles, trains, and ships. The electronics and electrical industry also relies on composites for their electrical insulation properties, lightweight nature, and resistance to heat and moisture, making them ideal for electronic components and circuit boards.

The healthcare sector is another growing segment within the composite material market, where materials are used in medical devices, prosthetics, and imaging equipment. Composites in healthcare offer benefits like biocompatibility, lightweight, and strength, essential for making durable medical devices and implants. The power generation industry uses composites for wind turbine blades, as these materials help improve energy efficiency and performance due to their high strength-to-weight ratios and resistance to environmental wear. Similarly, in the industrial sector, composite materials are utilized for manufacturing a wide range of durable, high-performance components, including those in machinery, pipes, and tanks, where resistance to corrosion, temperature, and pressure is critical.

The aerospace & defense and marine industries are also major contributors to the growth of the composite materials market. In aerospace, composites are crucial for reducing the weight of aircraft and improving fuel efficiency, while maintaining high strength and durability. They are used in fuselage, wings, and structural components. Similarly, in the marine industry, composites are used to manufacture boats, ships, and offshore structures, offering resistance to corrosion and providing lighter, more durable vessels. The "others" category includes niche applications such as sports equipment, wind energy, and other specialized industries. The diverse uses of composites across these various sectors reflect the material’s adaptability and growing importance in modern engineering and manufacturing.

Global Composite Material Market, Segmentation by Geography

In this report, the Global Composite Material Market has been segmented by Geography into five regions; North America, Europe, Asia Pacific, Middle East and Africa and Latin America.

Global Composite Material Market Share (%), by Geographical Region, 2024

The Global Composite Material Market is segmented by geography into several key regions, each with distinct market dynamics. North America, a leading region, benefits from advanced manufacturing capabilities and a robust aerospace and automotive sector, driving significant demand for composite materials. The market here is characterized by a strong presence of key industry players and substantial investments in research and development.

In Europe, the market is influenced by stringent regulations and a focus on sustainability, which drive the adoption of advanced composite materials in various sectors including automotive, aerospace, and construction. The region’s emphasis on reducing environmental impact and enhancing material performance contributes to its substantial market share.

Asia-Pacific is experiencing rapid growth due to its expanding industrial base, increasing infrastructure projects, and a booming automotive industry. The region’s growing demand for lightweight, durable materials, combined with rising investments in manufacturing facilities, supports the rising adoption of composite materials. Meanwhile, Latin America and the Middle East & Africa are emerging markets where increasing construction activities and infrastructure development are expected to boost market growth.