In-Depth Analysis Of The Global Composites Market: Key Drivers, Trends, Growth Opportunities, And Forecast 2025-2034
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Composites Global Market Report 2025 – Market Size, Trends, And Global Forecast 2025-2034
LONDON, GREATER LONDON, UNITED KINGDOM, February 4, 2025 /EINPresswire.com/ -- Updated 2025 Market Reports Released: Trends, Forecasts to 2034 – Early Purchase Your Competitive Edge Today!
The composites market has experienced significant growth in recent years. It is projected to expand from $105.74 billion in 2024 to $116.25 billion in 2025, at a compound annual growth rate (CAGR) of 9.9%. This growth can be attributed to increasing awareness of the environmental advantages of composites, rising demand for fuel-efficient vehicles, greater use of composites in the construction sector, the growth of wind energy, and the need for corrosion resistance in the chemical industry.
How Big Is the Global Composites Market Expected to Grow, and What Is Its Annual Growth Rate?
The composites market is expected to experience robust growth in the coming years, reaching $169.92 billion in 2029 at a compound annual growth rate (CAGR) of 10.0%. This growth is driven by the expansion of electric vehicles, infrastructure renewal, growing use in the marine industry, space exploration efforts, and increasing demand for composites in the defense sector. Key trends for the forecast period include bio-based composites, smart composites, recycling and the circular economy, digital twin technology, and hybrid composites.
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What Is Driving the Growth of the Composites Market?
The growth of the automotive and aerospace industries is expected to drive the expansion of the composites market. In these sectors, composites are utilized to enhance performance, offer corrosion resistance, and achieve fuel savings.
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Which Leading Companies Are Driving The Growth Of The Composites Market Share?
Major companies operating in the composites market include General Electric Company, Rolls-Royce plc, SGL Carbon Graphite Technic Co. Ltd., Axiom Materials Inc.
What Are The Key Trends Driving The Growth Of The Composites Market Size?
Leading companies in the composites market are concentrating on technological innovations, like lightweight and high-strength composite materials, to serve industries such as aerospace, automotive, and renewable energy. HexForce 1K woven reinforcement fabric is a high-performance composite material known for its increased strength and durability, commonly used in industries like aerospace and automotive.
How Is the Global Composites Market Segmented?
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
The Leading Region in the Composites Market is:
Asia-Pacific was the largest region in the composites market in 2024 and is also expected to be the fastest-growing region in the forecast period.
What Is the Composites Market?
Composites are materials made by combining two substances with distinct physical and chemical properties, offering excellent strength-to-weight ratios and durability. They are stronger than the individual materials alone, resistant to corrosion, long-lasting, and lighter than most metals.
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