The global advanced composites market size reached USD 40.9 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 81.7 Billion by 2033, exhibiting a growth rate (CAGR) of 7.6% during 2025-2033.
Report Attribute
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Key Statistics
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Base Year
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2024 |
Forecast Years
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2025-2033
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Historical Years
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2019-2024
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Market Size in 2024 | USD 40.9 Billion |
Market Forecast in 2033 | USD 81.7 Billion |
Market Growth Rate (2025-2033) | 7.6% |
Advanced composites are high-performance materials that possess superior mechanical resistance along with strength and stiffness. These composites are light in weight and have excellent dimensional stability, and thermal and electrical conductivity. Advanced composites are widely employed across verticals like aerospace, automobile, construction, sports and military. As these composites are used for manufacturing blades for wind turbines, an increase in the number of wind power stations around the world has also propelled the sales of advanced composites.
In the aerospace industry, reducing the weight of an aircraft is essential for enhancing its performance and fuel efficiency. As advanced composites are highly durable, have low density and are resistant to chemical corrosion, they are rapidly substituting traditionally used metals for manufacturing aeronautical and aircraft components such as rudders, wings, elaborators, floor beams, landing gear and engine nacelles. These composites are also replacing alloys and metals in the automotive sector. This, coupled with the rising demand for high-performance luxury vehicles, is boosting the growth of the market across the globe. Further, advanced polymer composites, such as HexPly and HexMC, are now being utilized in the production of sports equipment like snowboards, golf shafts, tennis racquets and surfboard fins. Inflating disposable incomes and a rising number of sports enthusiasts are creating strong demand for good quality sports equipment, thereby providing a thrust to the market growth.
IMARC Group provides an analysis of the key trends in each sub-segment of the global advanced composites market report, along with forecasts at the global and regional level from 2025-2033. Our report has categorized the market based on resin type, type of fiber, manufacturing process and application.
Breakup by Resin Type:
Breakup by Type of Fiber:
Glass currently represents the biggest segment.
Breakup by Manufacturing Process:
Breakup by Application:
The aerospace and aviation sector currently represents the largest application area.
Regional Insights:
North America currently represents the largest market.
The report has also analysed the competitive landscape of the market with some of the key players being Arkema S.A., BASF SE, Hexcel Corporation, Cytec Industries Inc., Koninklijke Ten Cate N.V., TPI Composites Inc., Toray Industries Inc., Mitsubishi Rayon Co. Ltd, Teijin Limited., Hexion, SGL Carbon SE, 3B-Fibreglass sprl, Owens Corning Corporation, Huntsman International, LLC, Solvay S.A., Kemrock Industries and Exports Limited, E. I. Du Pont Nemours & Co. and Cristex Ltd.
Report Features | Details |
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Base Year of the Analysis | 2024 |
Historical Period | 2019-2024 |
Forecast Period | 2025-2033 |
Units | Billion USD |
Segment Coverage | Resin Type, Type of Fiber, Manufacturing Process, Application, Region |
Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
Companies Covered | Arkema S.A., BASF SE, Hexcel Corporation, Cytec Industries Inc., Koninklijke Ten Cate N.V., TPI Composites Inc., Toray Industries Inc., Mitsubishi Rayon Co. Ltd, Teijin Limited., Hexion, SGL Carbon SE, 3B-Fibreglass sprl, Owens Corning Corporation, Huntsman International, LLC, Solvay S.A., Kemrock Industries and Exports Limited, E. I. Du Pont Nemours & Co. and Cristex Ltd. |
Customization Scope | 10% Free Customization |
Post-Sale Analyst Support | 10-12 Weeks |
Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
We expect the global advanced composites market to exhibit a CAGR of 7.6% during 2025-2033.
The growing utilization of advanced composites in manufacturing light-weight aircraft, for enhancing its performance and fuel efficiency, is primarily driving the global advanced composites market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary shutdown of various end-use industries for advanced composites.
Based on the resin type, the global advanced composites market has been divided into advanced thermosetting composites and advanced thermoplastic composites. Currently, advanced thermosetting composites exhibit a clear dominance in the market.
Based on the type of fiber, the global advanced composites market can be categorized into glass, carbon, and aramid. Among these, glass holds the majority of the total market share.
Based on the manufacturing process, the global advanced composites market has been segmented into hand layup/spray layup, AFP and ATL, filament winding, injection molding, pultrusion, compression molding, RTM/VARTM, and others. Currently, hand layup/spray layup process represents the largest market share.
Based on the application, the global advanced composites market can be bifurcated into aerospace and aviation, automotive, energy, electronics, marine, and others. Among these, the aerospace and aviation sector accounts for the majority of the total market share.
On a regional level, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where North America currently dominates the global market.
Some of the major players in the global advanced composites market include Arkema S.A., BASF SE, Hexcel Corporation, Cytec Industries Inc., Koninklijke Ten Cate N.V., TPI Composites Inc., Toray Industries Inc., Mitsubishi Rayon Co. Ltd, Teijin Limited., Hexion, SGL Carbon SE, 3B-Fibreglass sprl, Owens Corning Corporation, Huntsman International, LLC, Solvay S.A., Kemrock Industries and Exports Limited, E. I. Du Pont Nemours, & Co., Cristex Ltd, etc.