Composites Market Size To Reach $212.06 Billion By 2033

Composites Market Growth and Trends 

The global composites market size is expected to reach USD 212.06 billion by 2033, registering a CAGR of 8.4% from 2026 to 2033, according to a new report by Grand View Research, Inc. The demand for composites is expected to witness significant growth owing to the rising fuel prices and stringent government regulations have shifted automobile manufacturers focus on light-weighted components which would further propel the market demand over the forecast period.

Composite products play an essential role in the manufacturing of automotive and aircraft parts. The growing concerns regarding fuel consumption and CO₂ emission levels have prompted the manufacturers to use carbon fiber composite materials as substitutes for metal components. Technological innovations to minimize the manufacturing cycle time is expected to propel the usage of composites in the automotive sector.

The high cost of composites has limited their application scope to premium segment cars. However, key players are conducting extensive R&D activities to develop low-cost composite grades with similar mechanical properties as that of the high-cost variants. This is expected to spur the demand for the product in the automotive industry over the forecast period.

Aerospace is one of the fastest-growing sectors in the global composites market. High-performance materials are required to be used in aircraft, rockets, satellites, and missiles in the aerospace industry. The consumption of composites in the aerospace industry is increasing owing to their lightweight and high rigidity. The U.S. and Europe are the key markets in the aerospace & defense sector with the demand being driven by aircraft manufacturers such as Boeing and Airbus.

Major players have established a strong distribution network and product brands in the global composites market. Companies such as Teijin Limited, Toray Industries, Owens Corning, and PPG Industries Inc. acquired a large share of the market globally. The ongoing research & development activities in the composites market present several growth and expansion opportunities to market players, which in turn are projected to positively influence the overall composites market.

Manufacturers are aiming to achieve optimum business growth and a strong market position through the implementation of various strategies such as integration, through acquisition, joint ventures, production capacity expansion, new product development, promotion of key product brands, and significant investments in research & development.

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Composites Market Report Highlights

• The glass fiber segment held the largest revenue market share of 58.5% in 2025, primarily due to its cost efficiency and versatility across a wide range of end-use industries.

• The layup segment held the largest revenue market share of 36.7% in 2025, owing to its simplicity, design flexibility, and cost-effective production.

• The automotive & transportation segment held the largest revenue market share of 21.0% in 2025, driven by strict emission norms and the need for lightweight vehicle components.

• The composites industry in the Asia Pacific dominated the global market and accounted for the largest revenue share of 46.6% in 2025, due to rapid industrialization and large-scale manufacturing activities.

Composites Market Segmentation

Grand View Research has segmented the global composites market on the basis of product, application, manufacturing process, and region:

Composites Product Outlook (Volume, Kilotons; Revenue, USD Billion; 2021 - 2033)

• Carbon Fiber

• Glass Fiber

• Others

Composites Manufacturing Process Outlook (Volume, Kilotons; Revenue, USD Billion; 2021 - 2033)

• Layup

• Filament

• Injection Molding

• Pultrusion

• Compression Molding

• RTM

• Others

Composites Application Outlook (Volume, Kilotons; Revenue, USD Billion; 2021 - 2033)

• Automotive & Transportation

• Wind Energy

• Electrical & Electronics

• Construction & Infrastructure

• Pipes & Tanks

• Marine

• Others

Composites Regional Outlook (Volume, Kilotons; Revenue, USD Billion; 2021 - 2033)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • France

  • Italy

  • UK

  • Spain

• Asia Pacific

  • China

  • India

  • Japan

  • South Korea

• Central & South America

  • Brazil

  • Argentina

• Middle East & Africa

List of Key Players in the Composites Market

• Teijin Ltd.

• Owens Corning

• DuPont

• PPG Industries, Inc.

• Toray Industries, Inc.

• Huntsman Corporation LLC

• SGL Group

• Hexcel Corporation

• Compagnie de Saint-Gobain S.A.

• Weyerhaeuser Company

• Momentive Performance Materials, Inc.

• Cytec Industries (Solvay, S.A.)

• China Jushi Co., Ltd.

• Kineco Limited

• Veplas Group