SKU: DMR-CM-2026-00010 Global Intelligence Study

Advanced Composites Market

Publishing Date

Jun-26

Report Length

118 Pages

Forecasts Period

2026-2033

market cagr

6.20%

Executive Summary

The global market was valued at USD 6.9 billion in 2025 and is projected to reach USD 11.2 billion by 2033, at a CAGR of 6.2%.

Market Dynamics & Scope

The global advanced composites market was valued at USD 37.7 billion in 2023 and is projected to grow from USD 49.0 billion in 2026 to USD 70.2 billion by 2030, at a CAGR of 9.3% from 2024 to 2030. North America led with a 38.64% revenue share in 2023, while Asia Pacific is the fastest-growing regional market.

Carbon fiber composites accounted for 66.23% of revenue in 2023, and advanced thermosetting resins held the largest resin share. Demand is propelled by commercial aircraft production, defense modernization, wind turbine installations, and automotive lightweighting to meet strict fuel-economy standards.

This report sizes volume (kilotons) and revenue (USD billion) from 2018 to 2030 across product, resin type, application, and region, and profiles 15 leading composite manufacturers.

Key Market Trends & Insights

By product: Carbon fiber led the market with a 66.23% revenue share in 2023 and is projected to grow at the fastest CAGR.
By resin type: Advanced thermosetting composites accounted for the largest revenue share in 2023.
By application: Automotive held a 14.75% revenue share in 2023 and is expected to grow at the fastest CAGR, alongside strong aerospace & defense and wind energy demand.

Regional Highlights

Largest regional market: North America (38.64% revenue share, 2023)
Fastest-growing regional market: Asia Pacific (2024-2030), with India projected at an 11.6% CAGR
By country: U.S. led North America (8.0% CAGR); China held 41.4% of Asia Pacific in 2023; Germany held 33.4% of Europe in 2023

Market Size & Forecasts

Market size in 2023: USD 37.7 Billion
Estimated market size in 2026: USD 49.0 Billion
Projected market size by 2030: USD 70.2 Billion
CAGR (2024-2030): 9.3%

Analyst Perspective

Commercial aircraft build rates, wind turbine blade installations, and vehicle lightweighting are driving rapid expansion in advanced composites. Carbon fiber and thermosetting resins dominate current revenue, while automotive and wind energy applications are broadening volume beyond defense and aerospace. Manufacturers investing in automated layup, customized prepregs, and regional capacity in Asia Pacific are best positioned to capture share.

End-use Insights

Automotive accounted for 14.75% of revenue in 2023 and is projected to grow fastest as OEMs cut vehicle weight to meet emission rules. Aerospace & defense and wind energy remain major demand pillars, driven by rising air passenger traffic, defense budgets, and longer, lighter wind turbine blades.

Product Insights

Product: Carbon fiber dominated with a 66.23% revenue share in 2023 and is the fastest-growing segment due to its high strength-to-weight ratio and impact resistance in aerospace, automotive, sporting goods, and pipes & tanks. Glass fiber composites gain traction in electrical insulation, marine, and corrosive environments, while aramid serves defense and protection.

Formulation Insights

Resin type: Advanced thermosetting composites held the largest revenue share in 2023 thanks to high strength, chemical durability, and moldability into complex aerodynamic shapes, while advanced thermoplastic composites offer faster cycle times and recyclability.

Application Insights

Applications span aerospace & defense, automotive, wind energy, sporting goods, and others (including pipes & tanks and marine). Wind turbine blades rely on composites for low wind resistance and high conversion efficiency, while defense programs drive aramid and carbon composite uptake.

Regional Insights

North America led with 38.64% of global revenue in 2023, anchored by U.S. aircraft, wind, and automotive manufacturing. Asia Pacific is the fastest-growing region, led by China (41.4% regional share in 2023) and India (11.6% CAGR). Europe is supported by wind energy in Germany (33.4% regional share) and Spain and aerospace in the UK (9.1% CAGR).

Market Dynamics

Driver

Rising commercial air passenger traffic and defense spending; rapid global installations of wind energy turbines requiring lightweight blades; strict automotive emission and fuel-economy regulations.

Restraint

High prices of carbon and aramid composite materials compared with conventional metals, alongside strict regulatory and qualification standards governing composite production and structural performance.

Opportunity

Customized composite solutions with high customer switching costs, R&D collaborations with research institutes, and expanding manufacturing hubs in China, India, Brazil, and the Middle East.

Regional & Country Trends

U.S. Market Trends

The U.S. dominates North America and is projected to grow at an 8.0% CAGR through 2030, supported by major commercial aircraft OEMs, defense procurement, mass automotive production, and wind turbine manufacturing.

Europe Market Trends

Germany led Europe with a 33.4% share in 2023, driven by fuel-efficient vehicle production and wind power, while the UK is projected to grow fastest in Europe at a 9.1% CAGR on aerospace and marine demand.

Asia Pacific Market Trends

Asia Pacific is the fastest-growing region. China accounted for 41.4% of regional revenue in 2023 on strong manufacturing and exports, while India is forecast to expand at an 11.6% CAGR across automotive, wind, and pipes & tanks.

Key Company Insights & Competitive Landscape

Key Companies Profiled:

Toray Industries, Inc.; Koninklijke Ten Cate NV; Teijin Limited; Hexcel Corporation; SGL Group; Cytec Solvay Group; Owens Corning; E. I. Dupont De Nemours and Company; Huntsman Corporation; Momentive Performance Materials Inc.; WS Atkins plc; AGY Holdings Corp.; Formosa Plastics Corporation; Plasan Carbon Composites; Strata Manufacturing

The market is fragmented with major global fiber and resin producers competing on R&D, custom prepreg formulations, and long-term OEM supply agreements. Leading players include Toray Industries, Owens Corning, Hexcel, Teijin, and SGL Group.

Recent Industry Developments

June 2022: Hexcel Corporation secured a long-term contract from Sikorsky (Lockheed Martin) to supply composite structures for the CH-53K King Stallion helicopter.
March 2022: Hexcel Corporation announced the expansion of its engineered core manufacturing facility in Morocco.
February 2022: Teijin Automotive Technologies opened a 39,000 sq. m. automotive composites facility in Changzhou, China, and announced a third plant in China.

Global Report Segmentation

Product: Aramid Fiber; Carbon Fiber; Glass Fiber
Resin Type: Advanced Thermosetting Composites; Advanced Thermoplastic Composites
Application: Aerospace & Defense; Automotive; Wind Energy; Sporting Goods; Others
Region: North America (U.S., Canada, Mexico); Europe (UK, Germany, France, Italy); Asia Pacific (China, India, Japan, South Korea); Central & South America (Brazil); Middle East & Africa (Saudi Arabia)

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