Composites Market Size, Share & Trends Report

Composites Market Size, Share & Trends Analysis Report By Product Type (Carbon Fiber, Glass Fiber), By Manufacturing Process (Layup, Filament, Injection Molding, Pultrusion), By End-use, By Region And Segment Forecasts, 2023 - 2030

Report ID: 978-1-68038-917-3
Number of Pages: 167
Format: Electronic (PDF)

Historical Range: 2018 - 2022
Industry: Advanced Materials

Market Segmentation

Composites Manufacturing Process Outlook (Volume, Kilotons; Revenue, USD Billion, 2018 - 2030)
- Layup Process
- Filament Winding Process
- Injection Molding Process
- Pultrusion Process
- Compression Molding Process
- Resin Transfer Molding Process
- Others
Composites Product Outlook (Volume, Kilotons; Revenue, USD Billion, 2018 - 2030)
- Carbon Fiber
- Glass Fiber
- Others
Composites End-use Outlook (Volume, Kilotons; Revenue, USD Billion, 2018 - 2030)
- Automotive & Transportation
- Electrical & Electronics
- Wind Energy
- Construction & Infrastructure
- Pipes & Tanks
- Marine
- Others
Composites Regional Outlook (Volume, Kilotons; Revenue, USD Billion, 2018 - 2030)
- North America
  - North America Composites Market, By Product
    - Carbon Fiber Composites
    - Glass Fiber Composites
    - Others
  - North America Composites Market, By Manufacturing Process
    - Layup Process
    - Filament Winding Process
    - Injection Molding Process
    - Pultrusion Process
    - Compression Molding Process
    - Resin Transfer Molding Process
    - Others
  - North America Composites Market, By End-Use
    - Automotive & Transportation
    - Electrical & Electronics
    - Wind Energy
    - Construction & Infrastructure
    - Pipes & Tanks
    - Marine
    - Others
  - U.S.
    - U.S. Composites Market, By Product
      - Carbon Fiber Composites
      - Glass Fiber Composites
      - Others
    - U.S. Composites Market, By Manufacturing Process
    - U.S. Composites Market, By End-Use
      - Automotive & Transportation
      - Electrical & Electronics
      - Wind Energy
      - Construction & Infrastructure
      - Pipes & Tanks
      - Marine
      - Others
  - Canada
    - Canada Composites Market, By Product
      - Carbon Fiber Composites
      - Glass Fiber Composites
      - Others
    - Canada Composites Market, By Manufacturing Process
      - Layup Process
      - Filament Winding Process
      - Injection Molding Process
      - Pultrusion Process
      - Compression Molding Process
      - Resin Transfer Molding Process
      - Others
    - Canada Composites Market, By End-Use
      - Automotive & Transportation
      - Electrical & Electronics
      - Wind Energy
      - Construction & Infrastructure
      - Pipes & Tanks
      - Marine
      - Others
  - Mexico
    - Mexico Composites Market, By Product
      - Carbon Fiber Composites
      - Glass Fiber Composites
      - Others
    - Mexico Composites Market, By Manufacturing Process
      - Layup Process
      - Filament Winding Process
      - Injection Molding Process
      - Pultrusion Process
      - Compression Molding Process
      - Resin Transfer Molding Process
      - Others
    - Mexico Composites Market, By End-Use
      - Automotive & Transportation
      - Electrical & Electronics
      - Wind Energy
      - Construction & Infrastructure
      - Pipes & Tanks
      - Marine
      - Others
- Europe
  - Europe Composites Market, By Product
    - Carbon Fiber Composites
    - Glass Fiber Composites
    - Others
  - Europe Composites Market, By Manufacturing Process
    - Layup Process
    - Filament Winding Process
    - Injection Molding Process
    - Pultrusion Process
    - Compression Molding Process
    - Resin Transfer Molding Process
    - Others
  - Europe Composites Market, By End-Use
    - Automotive & Transportation
    - Electrical & Electronics
    - Wind Energy
    - Construction & Infrastructure
    - Pipes & Tanks
    - Marine
    - Others
  - Germany
    - Germany Composites Market, By Product
      - Carbon Fiber Composites
      - Glass Fiber Composites
      - Others
    - Germany Composites Market, By Manufacturing Process
      - Layup Process
      - Filament Winding Process
      - Injection Molding Process
      - Pultrusion Process
      - Compression Molding Process
      - Resin Transfer Molding Process
      - Others
    - Germany Composites Market, By End-Use
      - Automotive & Transportation
      - Electrical & Electronics
      - Wind Energy
      - Construction & Infrastructure
      - Pipes & Tanks
      - Marine
      - Others
  - U.K.
    - U.K. Composites Market, By Product
      - Carbon Fiber Composites
      - Glass Fiber Composites
      - Others
    - U.K. Composites Market, By Manufacturing Process
      - Layup Process
      - Filament Winding Process
      - Injection Molding Process
      - Pultrusion Process
      - Compression Molding Process
      - Resin Transfer Molding Process
      - Others
    - U.K. Composites Market, By End-Use
      - Automotive & Transportation
      - Electrical & Electronics
      - Wind Energy
      - Construction & Infrastructure
      - Pipes & Tanks
      - Marine
      - Others
  - France
    - France Composites Market, By Product
      - Carbon Fiber Composites
      - Glass Fiber Composites
      - Others
    - France Composites Market, By Manufacturing Process
      - Layup Process
      - Filament Winding Process
      - Injection Molding Process
      - Pultrusion Process
      - Compression Molding Process
      - Resin Transfer Molding Process
      - Others
    - France Composites Market, By End-Use
      - Automotive & Transportation
      - Electrical & Electronics
      - Wind Energy
      - Construction & Infrastructure
      - Pipes & Tanks
      - Marine
      - Others
  - Italy
    - Italy Composites Market, By Product
      - Carbon Fiber Composites
      - Glass Fiber Composites
      - Others
    - Italy Composites Market, By Manufacturing Process
      - Layup Process
      - Filament Winding Process
      - Injection Molding Process
      - Pultrusion Process
      - Compression Molding Process
      - Resin Transfer Molding Process
      - Others
    - Italy Composites Market, By End-Use
      - Automotive & Transportation
      - Electrical & Electronics
      - Wind Energy
      - Construction & Infrastructure
      - Pipes & Tanks
      - Marine
      - Others
  - Spain
    - Spain Composites Market, By Product
      - Carbon Fiber Composites
      - Glass Fiber Composites
      - Others
    - Spain Composites Market, By Manufacturing Process
      - Layup Process
      - Filament Winding Process
      - Injection Molding Process
      - Pultrusion Process
      - Compression Molding Process
      - Resin Transfer Molding Process
      - Others
    - Spain Composites Market, By End-Use
      - Automotive & Transportation
      - Electrical & Electronics
      - Wind Energy
      - Construction & Infrastructure
      - Pipes & Tanks
      - Marine
      - Others
- Asia Pacific
  - Asia Pacific Composites Market, By Product
    - Carbon Fiber Composites
    - Glass Fiber Composites
    - Others
  - Asia Pacific Composites Market, By Manufacturing Process
    - Layup Process
    - Filament Winding Process
    - Injection Molding Process
    - Pultrusion Process
    - Compression Molding Process
    - Resin Transfer Molding Process
    - Others.
  - Asia Pacific Composites Market, By End-Use
    - Automotive & Transportation
    - Electrical & Electronics
    - Wind Energy
    - Construction & Infrastructure
    - Pipes & Tanks
    - Marine
    - Others
  - China
    - China Composites Market, By Product
      - Carbon Fiber Composites
      - Glass Fiber Composites
      - Others
    - China Composites Market, By Manufacturing Process
      - Layup Process
      - Filament Winding Process
      - Injection Molding Process
      - Pultrusion Process
      - Compression Molding Process
      - Resin Transfer Molding Process
      - Others
    - China Composites Market, By End-Use
      - Automotive & Transportation
      - Electrical & Electronics
      - Wind Energy
      - Construction & Infrastructure
      - Pipes & Tanks
      - Marine
      - Others
  - India
    - India Composites Market, By Product
      - Carbon Fiber Composites
      - Glass Fiber Composites
      - Others
    - India Composites Market, By Manufacturing Process
      - Layup Process
      - Filament Winding Process
      - Injection Molding Process
      - Pultrusion Process
      - Compression Molding Process
      - Resin Transfer Molding Process
      - Others
    - India Composites Market, By End-Use
      - Automotive & Transportation
      - Electrical & Electronics
      - Wind Energy
      - Construction & Infrastructure
      - Pipes & Tanks
      - Marine
      - Others
  - Japan
    - Japan Composites Market, By Product
      - Carbon Fiber Composites
      - Glass Fiber Composites
      - Others
    - Japan Composites Market, By Manufacturing Process
      - Layup Process
      - Filament Winding Process
      - Injection Molding Process
      - Pultrusion Process
      - Compression Molding Process
      - Resin Transfer Molding Process
      - Others
    - Japan Composites Market, By End-Use
      - Automotive & Transportation
      - Electrical & Electronics
      - Wind Energy
      - Construction & Infrastructure
      - Pipes & Tanks
      - Marine
      - Others
  - South Korea
    - South Korea Composites Market, By Product
      - Carbon Fiber Composites
      - Glass Fiber Composites
      - Others
    - South Korea Composites Market, By Manufacturing Process
      - Layup Process
      - Filament Winding Process
      - Injection Molding Process
      - Pultrusion Process
      - Compression Molding Process
      - Resin Transfer Molding Process
      - Others
    - South Korea Composites Market, By End-Use
      - Automotive & Transportation
      - Electrical & Electronics
      - Wind Energy
      - Construction & Infrastructure
      - Pipes & Tanks
      - Marine
      - Others
- Central & South America
  - Central & South America Composites Market, By Product
    - Carbon Fiber Composites
    - Glass Fiber Composites
    - Others
  - Central & South America Composites Market, By Manufacturing Process
    - Layup Process
    - Filament Winding Process
    - Injection Molding Process
    - Pultrusion Process
    - Compression Molding Process
    - Resin Transfer Molding Process
    - Others
  - Central & South America Composites Market, By End-Use
    - Automotive & Transportation
    - Electrical & Electronics
    - Wind Energy
    - Construction & Infrastructure
    - Pipes & Tanks
    - Marine
    - Others
  - Brazil
    - Brazil Composites Market, By Product
      - Carbon Fiber Composites
      - Glass Fiber Composites
      - Others
    - Brazil Composites Market, By Manufacturing Process
      - Layup Process
      - Filament Winding Process
      - Injection Molding Process
      - Pultrusion Process
      - Compression Molding Process
      - Resin Transfer Molding Process
      - Others
    - Brazil Composites Market, By End-Use
      - Automotive & Transportation
      - Electrical & Electronics
      - Wind Energy
      - Construction & Infrastructure
      - Pipes & Tanks
      - Marine
      - Others
  - Argentina
    - Argentina Composites Market, By Product
      - Carbon Fiber Composites
      - Glass Fiber Composites
      - Others
    - Argentina Composites Market, By Manufacturing Process
      - Layup Process
      - Filament Winding Process
      - Injection Molding Process
      - Pultrusion Process
      - Compression Molding Process
      - Resin Transfer Molding Process
      - Others
    - Argentina Composites Market, By End-Use
      - Automotive & Transportation
      - Electrical & Electronics
      - Wind Energy
      - Construction & Infrastructure
      - Pipes & Tanks
      - Marine
      - Others
- Middle East & Africa
  - Middle East & Africa Composites Market, By Product
    - Carbon Fiber Composites
    - Glass Fiber Composites
    - Others
  - Middle East & Africa Composites Market, By Manufacturing Process
    - Layup Process
    - Filament Winding Process
    - Injection Molding Process
    - Pultrusion Process
    - Compression Molding Process
    - Resin Transfer Molding Process
    - Others
  - Middle East & Africa Composites Market, By End-Use
    - Automotive & Transportation
    - Electrical & Electronics
    - Wind Energy
    - Construction & Infrastructure
    - Pipes & Tanks
    - Marine
    - OthersCentral & South America

Composites Market Dynamics

Driver: Growing demand for lightweight material from the automotive sector

Increasing demand for composites in the automotive industry is anticipated to boost market growth. Rising fuel prices have triggered the need for fuel-efficient vehicles. Composites are most widely utilized as the replacement for aluminum, wood, and steel on account of their higher strength-to-weight ratio. Growing environmental concerns and stringent regulations regarding pollution control have forced automotive manufacturers to enhance their technologies and develop vehicles having low pollution. One of the most important factors affecting fuel efficiency and vehicular pollution is the overall weight of the vehicle. The presence of stringent environmental regulations in Europe and the U.S. has forced automotive manufacturers to include composites in automotive production. Globally, especially in Europe, regulations are forcing OEMs to significantly reduce the CO2 emissions caused by vehicles. This is expected to benefit the adoption of composites.

Restraint: High costs of manufacturing and processing

The need for fuel-efficient vehicles and aircraft has triggered the demand for composites in these sectors. The established and proposed governmental regulations regarding pollution caused by automobiles are expected to propel the demand for composites in the automotive sector. Despite the extraordinary benefits offered by composites, their high cost has restrained their penetration in various application segments. CFRP structures weigh half of their steel counterparts and around one-third of aluminum. Although CFRP is more expensive than metals, it is preferred over metals owing to its lighter weight. However, its utilization is limited to high-performance vehicles such as jet fighters, spacecraft, racecars, racing yachts, exotic sports cars, and notably, the latest Airbus and Boeing airliners on account of the high prices of composites. High raw material cost directly reciprocates the total CFRP cost as CFRP manufacturing is an energy-intensive process. The conversion process involves non-conventional manufacturing processes, which add up to the total cost of CFRP. In the best-case scenario, 2 kg of PAN yields 1 kg of carbon fiber, which gives a conversion efficiency of only 50%. Lower raw material conversion efficiency has been a major factor adding up to the total cost.

Opportunity: Growing market for electric vehicles

The growing utilization of carbon fiber components in the automotive industry, especially in the electric vehicle segment, is expected to offer a wide opportunity to the composites market. The global automotive market is witnessing growing popularity and demand for EVs. Prominent vehicle manufacturers are aiming to comply with environmental standards and emission norms by reducing vehicle pollutants at a significant level. Consumer spending on electric vehicles is increasing, with the global consumer spending on electric vehicle purchases in 2021 reaching USD 250 billion. The composites are majorly deployed for battery enclosures owing to properties like fire and heat resistance. Furthermore, the composites' capacity to produce more complicated shapes would present designers with chances to distinguish their platforms and enhance user experiences.

Simultaneously, the production for these vehicles has gained high momentum in the past few years with leading automotive manufacturers such as Ford Motors, Toyota, and General Motors, turning to the introduction of electric vehicles to their portfolio and the emergence of pure-play electric vehicle manufacturing companies like Tesla Motors. Moreover, the production of high-performance vehicles with fuel-efficient capability has increased the utilization of lightweight components; thus, composites are widely being accepted in automotive production.

What Does This Report Include?

This section will provide insights into the contents included in this composites market report and help gain clarity on the structure of the report to assist readers in navigating smoothly.

Composites market qualitative analysis

Industry overview
Industry trends
Market drivers and restraints
Market size
Growth prospects
Porter’s analysis
PESTEL analysis
Key market opportunities prioritized
Competitive landscape
- Company overview
- Financial performance
- Product benchmarking
- Latest strategic developments

Composites market quantitative analysis

Market size, estimates, and forecast from 2018 to 2030
Market estimates and forecast for product segments up to 2030
Regional market size and forecast for product segments up to 2030
Market estimates and forecast for application segments up to 2030
Regional market size and forecast for application segments up to 2030
Company financial performance

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