The Global Textile Composites Market was valued at approximately USD 7.91 billion in 2023 and is expected to grow at a robust CAGR of 6.9% from 2024 to 2032. Textile composites refer to materials that combine textiles with other substances, creating a composite with superior properties. These materials leverage the strengths of textiles and the additional binding material, typically a polymer matrix or resin, resulting in improved mechanical, thermal, or other characteristics. This market is driven by the increasing demand for lightweight, high-strength materials across various industries including aerospace, automotive, and sports equipment. In textile composites, the textile component often serves as a reinforcement, providing strength and flexibility, while the additional material binds the structure together. This results in a composite tailored to meet specific performance requirements. Applications of textile composites span across aerospace, automotive, construction, sports equipment, and protective gear, where their lightweight and high-strength characteristics are highly valued.
The primary driver of the textile composites market is the rising demand for materials with a high strength-to-weight ratio. Industries such as aerospace and automotive constantly seek solutions to reduce weight while maintaining or enhancing strength. Textile composites, reinforced with fibers such as carbon, glass, or aramid, provide a viable solution for manufacturing complex shapes and components. These composites contribute to fuel efficiency in transportation and improved performance in sports equipment. Technological advancements play a crucial role in propelling the textile composites market. Continuous R&D efforts focus on enhancing the properties of textile composites, such as mechanical strength, durability, and environmental resistance. Innovations like nanocomposites, incorporating nanoparticles into textile structures, expand the performance capabilities of textile composites, driving market growth. However, the high costs associated with manufacturing and implementing these materials pose significant challenges, limiting widespread adoption, especially in cost-sensitive industries.
Key regions considered in the Global Textile Composites Market study include North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The Asia-Pacific region held the dominant share of the textile composites market in 2023 and is projected to grow at the highest CAGR during the forecast period. This growth is driven by the significant increase in demand for aircraft for both commercial and defence purposes. The lightweight and high-strength properties of textile composites make them increasingly valuable in aerospace applications, contributing to the robust market growth in this region.
Major market players included in this report are:
- Saertex Group
- Hyosung Tnc
- Toray Industries, Inc.
- Composite Fabrics Of America
- Hexcel Corporation
- Owens Corning
- BGF Industries
- Sigmatex
- Chomarat
- Teijin Limited
- Mitsubishi Chemical Holdings Corporation
- Saertex GmbH & Co. KG
- Park Aerospace Corp.
- Solvay S.A.
- Royal DSM N.V.
The detailed segments and sub-segment of the market are explained below:
By Fiber Type
- Carbon Fiber
- Glass Fiber
- Aramid Fiber
- Polyethylene Fiber (UHMWPE)
- Basalt Fiber
- Others
By Textile Type
By Application
- Automotive
- Aerospace
- Construction
- Marine
- Sports Equipment
- Industrial Insulation
- Others
By Region:
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- Rest of Asia-Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East and Africa:
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa
Years considered for the study are as follows:
- Historical year - 2022
- Base year - 2023
- Forecast period - 2024 to 2032
Key Takeaways:
- Market Estimates & Forecast for 10 years from 2022 to 2032.
- Annualized revenues and regional level analysis for each market segment.
- Detailed analysis of geographical landscape with Country level analysis of major regions.
- Competitive landscape with information on major players in the market.
- Analysis of key business strategies and recommendations on future market approach.
- Analysis of competitive structure of the market.
- Demand side and supply side analysis of the market.
Table of Contents
Chapter 1. Global Textile Composites Market Executive Summary
- 1.1. Global Textile Composites Market Size & Forecast (2022-2032)
- 1.2. Regional Summary
- 1.3. Segmental Summary
- 1.3.1. By Fiber Type
- 1.3.2. By Textile Type
- 1.3.3. By Application
- 1.4. Key Trends
- 1.5. Recession Impact
- 1.6. Analyst Recommendation & Conclusion
Chapter 2. Global Textile Composites Market Definition and Research Assumptions
- 2.1. Research Objective
- 2.2. Market Definition
- 2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
- 2.3.3.1. Availability
- 2.3.3.2. Infrastructure
- 2.3.3.3. Regulatory Environment
- 2.3.3.4. Market Competition
- 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
- 2.3.4.1. Regulatory frameworks
- 2.3.4.2. Technological Advancements
- 2.3.4.3. Environmental Considerations
- 2.3.4.4. Consumer Awareness & Acceptance
- 2.4. Estimation Methodology
- 2.5. Years Considered for the Study
- 2.6. Currency Conversion Rates
Chapter 3. Global Textile Composites Market Dynamics
- 3.1. Market Drivers
- 3.1.1. Demand for Lightweight and High-Strength Materials
- 3.1.2. Advancements in Material Technologies
- 3.2. Market Challenges
- 3.2.1. High Manufacturing Costs
- 3.2.2. Limited Adoption in Cost-Sensitive Industries
- 3.3. Market Opportunities
- 3.3.1. Aerospace Industry Demand
- 3.3.2. Innovations in Manufacturing Processes
Chapter 4. Global Textile Composites Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
- 4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
- 4.3. Top investment opportunity
- 4.4. Top winning strategies
- 4.5. Disruptive Trends
- 4.6. Industry Expert Perspective
- 4.7. Analyst Recommendation & Conclusion
Chapter 5. Global Textile Composites Market Size & Forecasts by Fiber Type 2022-2032
- 5.1. Segment Dashboard
- 5.2. Global Textile Composites Market: Fiber Type Revenue Trend Analysis, 2022 & 2032 (USD Million)
- 5.2.1. Carbon Fiber
- 5.2.2. Glass Fiber
- 5.2.3. Aramid Fiber
- 5.2.4. Polyethylene Fiber (UHMWPE)
- 5.2.5. Basalt Fiber
- 5.2.6. Others
Chapter 6. Global Textile Composites Market Size & Forecasts by Textile Type 2022-2032
- 6.1. Segment Dashboard
- 6.2. Global Textile Composites Market: Textile Type Revenue Trend Analysis, 2022 & 2032 (USD Million)
- 6.2.1. Woven
- 6.2.2. Non-Woven
Chapter 7. Global Textile Composites Market Size & Forecasts by Application 2022-2032
- 7.1. Segment Dashboard
- 7.2. Global Textile Composites Market: Application Revenue Trend Analysis, 2022 & 2032 (USD Million)
- 7.2.1. Automotive
- 7.2.2. Aerospace
- 7.2.3. Construction
- 7.2.4. Marine
- 7.2.5. Sports Equipment
- 7.2.6. Industrial Insulation
- 7.2.7. Others
Chapter 8. Global Textile Composites Market Size & Forecasts by Region 2022-2032
- 8.1. North America Textile Composites Market
- 8.1.1. U.S. Textile Composites Market
- 8.1.1.1. Fiber Type breakdown size & forecasts, 2022-2032
- 8.1.1.2. Textile Type breakdown size & forecasts, 2022-2032
- 8.1.1.3. Application breakdown size & forecasts, 2022-2032
- 8.1.2. Canada Textile Composites Market
- 8.1.2.1. Fiber Type breakdown size & forecasts, 2022-2032
- 8.1.2.2. Textile Type breakdown size & forecasts, 2022-2032
- 8.1.2.3. Application breakdown size & forecasts, 2022-2032
- 8.1.3. Mexico Textile Composites Market
- 8.1.3.1. Fiber Type breakdown size & forecasts, 2022-2032
- 8.1.3.2. Textile Type breakdown size & forecasts, 2022-2032
- 8.1.3.3. Application breakdown size & forecasts, 2022-2032
- 8.2. Europe Textile Composites Market
- 8.2.1. Germany Textile Composites Market
- 8.2.2. U.K. Textile Composites Market
- 8.2.3. France Textile Composites Market
- 8.2.4. Spain Textile Composites Market
- 8.2.5. Italy Textile Composites Market
- 8.2.6. Rest of Europe Textile Composites Market
- 8.3. Asia-Pacific Textile Composites Market
- 8.3.1. China Textile Composites Market
- 8.3.2. India Textile Composites Market
- 8.3.3. Japan Textile Composites Market
- 8.3.4. Australia Textile Composites Market
- 8.3.5. South Korea Textile Composites Market
- 8.3.6. Rest of Asia Pacific Textile Composites Market
- 8.4. Latin America Textile Composites Market
- 8.4.1. Brazil Textile Composites Market
- 8.4.2. Mexico Textile Composites Market
- 8.4.3. Rest of Latin America Textile Composites Market
- 8.5. Middle East & Africa Textile Composites Market
- 8.5.1. Saudi Arabia Textile Composites Market
- 8.5.2. South Africa Textile Composites Market
- 8.5.3. Rest of Middle East & Africa Textile Composites Market
Chapter 9. Competitive Intelligence
- 9.1. Key Company SWOT Analysis
- 9.2. Top Market Strategies
- 9.3. Company Profiles
- 9.3.1. Saertex Group
- 9.3.1.1. Key Information
- 9.3.1.2. Overview
- 9.3.1.3. Financial (Subject to Data Availability)
- 9.3.1.4. Product Summary
- 9.3.1.5. Market Strategies
- 9.3.2. Hyosung Tnc
- 9.3.3. Toray Industries, Inc.
- 9.3.4. Composite Fabrics Of America
- 9.3.5. Hexcel Corporation
- 9.3.6. Owens Corning
- 9.3.7. BGF Industries
- 9.3.8. Sigmatex
- 9.3.9. Chomarat
- 9.3.10. Teijin Limited
- 9.3.11. Mitsubishi Chemical Holdings Corporation
- 9.3.12. Saertex GmbH & Co. KG
- 9.3.13. Park Aerospace Corp.
- 9.3.14. Solvay S.A.
- 9.3.15. Royal DSM N.V.
Chapter 10. Research Process
- 10.1. Research Process
- 10.1.1. Data Mining
- 10.1.2. Analysis
- 10.1.3. Market Estimation
- 10.1.4. Validation
- 10.1.5. Publishing
- 10.2. Research Attributes