Product Code: PM1169
The global advanced composites market size is expected to reach USD 116.76 billion by 2034, according to a new study by Polaris Market Research. The report "Advanced Composites Market Size, Share, Trends, Industry Analysis Report: By Fiber Type (Aramid Fiber, S-Glass Fiber, Carbon Fiber, and Others), Manufacturing Process, End Use, and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Market Forecast, 2025-2034" gives a detailed insight into current market dynamics and provides analysis on future market growth.
Advanced composites are lightweight, strong engineered materials that consist of high-performance reinforcing fibers. They are made by combining a resin with a reinforcement such as carbon fiber, fiberglass, or aramid fiber. The properties of the resulting composite are different than that of the individual components.
Advanced composites are being increasingly used in transportation and aerospace & defense. These composites offer lower weight, high fatigue life, and corrosion resistance in various applications. Also, they can be altered and modified to deliver a wide range of properties and offer customized solutions.
The rising need for lightweight components, especially turbines to increase the efficiency of wind farms, is projected to have a favorable impact on the demand for advanced composites. Composite-based turbines have low wind resistance and rotate easily to produce high amounts of electricity, which is anticipated to boost advanced composites market growth during the forecast period.
The top market participants are undertaking R&D initiatives to enhance their product offerings and boost revenue. Also, they are focusing on offering customized advanced composites to clients. In addition, they are involved in notable collaborations with technology companies and research firms to develop advanced composites.
Advanced Composites Market Report Highlights
Based on fiber type, the carbon fiber segment dominated the advanced composites market revenue with the largest revenue share of 69.33% in 2024, as it offers greater performance under extreme conditions and has high chemical resistance.
Based on manufacturing process, the AFP/ATL segment accounted for a significant market share in 2024, as products made with the manufacturing process offer higher performance while also withstanding physical and chemical influences.
North America dominated the advanced composites market with a revenue share of 41.63% in 2024. The rising automotive penetration and growing demand from the defense & aerospace sector primarily drive the demand for advanced composites in the region.
The Asia Pacific advanced composites market is projected to register the highest CAGR from 2025 to 2034. The rising demand for advanced composites in the automotive and aerospace & defense industries is expected to boost the market growth in Asia Pacific during the forecast period.
A few global key market players include Toray Industries Inc.; Koninklijke Ten Cate B.V.; Mitsubishi Chemical Holding Corporation; Hexcel Corporation; DowAksa Advanced Composites Holdings BV; Huntsman International, LLC.; 3M Company; Honeywell International Inc.; Teijin Limited; PPG Industries; Advanced Composites Inc.; and Axalta Coating Systems, LLC.
Polaris Market Research has segmented the advanced composites market report on the basis of fiber type, manufacturing process, end use, and region:
By Fiber Type Outlook (Revenue - USD Billion, 2020-2034)
- Aramid Fiber
- S-Glass Fiber
- Carbon Fiber
- Others
By Manufacturing Process Outlook (Revenue - USD Billion, 2020-2034)
- Injection Molding Process
- Resin Transfer Molding Process
- Compression Molding Process
- AFP/ATL
- Others
By End Use Outlook (Revenue - USD Billion, 2020-2034)
- Automotive & Transportation
- Sporting Goods
- Wind Energy
- Construction
- Aerospace & Defense
- Medical
- Marine
- Electrical & Electronics
- Others
By Regional Outlook (Revenue - USD Billion, 2020-2034)
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Netherlands
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Malaysia
- South Korea
- Indonesia
- Australia
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Israel
- South Africa
- Rest of Middle East & Africa
- Latin America
- Mexico
- Brazil
- Argentina
- Rest of Latin America
Table of Contents
1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
2. Executive Summary
3. Research Methodology
- 3.1. Overview
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
4. Global Advanced Composites Market Insights
- 4.1. Advanced Composites Market - Market Snapshot
- 4.2. Advanced Composites Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. High Demand from Aerospace Industry
- 4.2.1.2. Advancements in Manufacturing Technologies
- 4.2.2. Restraints and Challenges
- 4.2.2.1. High Product Prices
- 4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry Among Existing Firms (High)
- 4.4. PESTEL Analysis
- 4.5. Advanced Composites Market Trends
- 4.6. Value Chain Analysis
- 4.7. COVID-19 Impact Analysis
5. Global Advanced Composites Market, by Fiber Type
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. Global Advanced Composites Market, by Fiber Type, 2020-2034 (USD Billion)
- 5.3. Aramid Fiber
- 5.3.1. Global Advanced Composites Market, by Aramid Fiber, by Region, 2020-2034 (USD Billion)
- 5.4. S-Glass Fiber
- 5.4.1. Global Advanced Composites Market, by S-Glass Fiber, by Region, 2020-2034 (USD Billion)
- 5.5. Carbon Fiber
- 5.5.1. Global Advanced Composites Market, by Carbon Fiber, by Region, 2020-2034 (USD Billion)
- 5.6. Others
- 5.6.1. Global Advanced Composites Market, by Others, by Region, 2020-2034 (USD Billion)
6. Global Advanced Composites Market, by Manufacturing Process
- 6.1. Key Findings
- 6.2. Introduction
- 6.2.1. Global Advanced Composites Market, by Manufacturing Process, 2020-2034 (USD Billion)
- 6.3. Injection Molding Process
- 6.3.1. Global Advanced Composites Market, by Injection Molding Process, by Region, 2020-2034 (USD Billion)
- 6.4. Resin Transfer Molding Process
- 6.4.1. Global Advanced Composites Market, by Resin Transfer Molding Process, by Region, 2020-2034 (USD Billion)
- 6.5. Compression Molding Process
- 6.5.1. Global Advanced Composites Market, by Compression Molding Process, by Region, 2020-2034 (USD Billion)
- 6.6. AFP/ATL
- 6.6.1. Global Advanced Composites Market, by AFP/ATL, by Region, 2020-2034 (USD Billion)
- 6.7. Others
- 6.7.1. Global Advanced Composites Market, by Others, by Region, 2020-2034 (USD Billion)
7. Global Advanced Composites Market, by End Use
- 7.1. Key Findings
- 7.2. Introduction
- 7.2.1. Global Advanced Composites Market, by End Use, 2020-2034 (USD Billion)
- 7.3. Automotive & Transportation
- 7.3.1. Global Advanced Composites Market, by Automotive & Transportation, by Region, 2020-2034 (USD Billion)
- 7.4. Sporting Goods
- 7.4.1. Global Advanced Composites Market, by Sporting Goods, by Region, 2020-2034 (USD Billion)
- 7.5. Wind Energy
- 7.5.1. Global Advanced Composites Market, by Wind Energy, by Region, 2020-2034 (USD Billion)
- 7.6. Construction
- 7.6.1. Global Advanced Composites Market, by Construction, by Region, 2020-2034 (USD Billion)
- 7.7. Aerospace & Defense
- 7.7.1. Global Advanced Composites Market, by Aerospace & Defense, by Region, 2020-2034 (USD Billion)
- 7.8. Medical
- 7.8.1. Global Advanced Composites Market, by Medical, by Region, 2020-2034 (USD Billion)
- 7.9. Marine
- 7.9.1. Global Advanced Composites Market, by Marine, by Region, 2020-2034 (USD Billion)
- 7.10. Electrical & Electronics
- 7.10.1. Global Advanced Composites Market, by Electrical & Electronics, by Region, 2020-2034 (USD Billion)
- 7.11. Others
- 7.11.1. Global Advanced Composites Market, by Others, by Region, 2020-2034 (USD Billion)
8. Global Advanced Composites Market, by Geography
- 8.1. Key Findings
- 8.2. Introduction
- 8.2.1. Advanced Composites Market Assessment, By Geography, 2020-2034 (USD Billion)
- 8.3. Advanced Composites Market - North America
- 8.3.1. North America: Advanced Composites Market, by Fiber Type, 2020-2034 (USD Billion)
- 8.3.2. North America: Advanced Composites Market, by Manufacturing Process, 2020-2034 (USD Billion)
- 8.3.3. North America: Advanced Composites Market, by End Use, 2020-2034 (USD Billion)
- 8.3.4. Advanced Composites Market - US
- 8.3.4.1. US: Advanced Composites Market, by Fiber Type, 2020-2034 (USD Billion)
- 8.3.4.2. US: Advanced Composites Market, by Manufacturing Process, 2020-2034 (USD Billion)
- 8.3.4.3. US: Advanced Composites Market, by End Use, 2020-2034 (USD Billion)
- 8.3.5. Advanced Composites Market - Canada
- 8.3.5.1. Canada: Advanced Composites Market, by Fiber Type, 2020-2034 (USD Billion)
- 8.3.5.2. Canada: Advanced Composites Market, by Manufacturing Process, 2020-2034 (USD Billion)
- 8.3.5.3. Canada: Advanced Composites Market, by End Use, 2020-2034 (USD Billion)
- 8.4. Advanced Composites Market - Europe
- 8.4.1. Europe: Advanced Composites Market, by Fiber Type, 2020-2034 (USD Billion)
- 8.4.2. Europe: Advanced Composites Market, by Manufacturing Process, 2020-2034 (USD Billion)
- 8.4.3. Europe: Advanced Composites Market, by End Use, 2020-2034 (USD Billion)
- 8.4.4. Advanced Composites Market - UK
- 8.4.4.1. UK: Advanced Composites Market, by Fiber Type, 2020-2034 (USD Billion)
- 8.4.4.2. UK: Advanced Composites Market, by Manufacturing Process, 2020-2034 (USD Billion)
- 8.4.4.3. UK: Advanced Composites Market, by End Use, 2020-2034 (USD Billion)
- 8.4.5. Advanced Composites Market - France
- 8.4.5.1. France: Advanced Composites Market, by Fiber Type, 2020-2034 (USD Billion)
- 8.4.5.2. France: Advanced Composites Market, by Manufacturing Process, 2020-2034 (USD Billion)
- 8.4.5.3. France: Advanced Composites Market, by End Use, 2020-2034 (USD Billion)
- 8.4.6. Advanced Composites Market - Germany
- 8.4.6.1. Germany: Advanced Composites Market, by Fiber Type, 2020-2034 (USD Billion)
- 8.4.6.2. Germany: Advanced Composites Market, by Manufacturing Process, 2020-2034 (USD Billion)
- 8.4.6.3. Germany: Advanced Composites Market, by End Use, 2020-2034 (USD Billion)
- 8.4.7. Advanced Composites Market - Italy
- 8.4.7.1. Italy: Advanced Composites Market, by Fiber Type, 2020-2034 (USD Billion)
- 8.4.7.2. Italy: Advanced Composites Market, by Manufacturing Process, 2020-2034 (USD Billion)
- 8.4.7.3. Italy: Advanced Composites Market, by End Use, 2020-2034 (USD Billion)
- 8.4.8. Advanced Composites Market - Spain
- 8.4.8.1. Spain: Advanced Composites Market, by Fiber Type, 2020-2034 (USD Billion)
- 8.4.8.2. Spain: Advanced Composites Market, by Manufacturing Process, 2020-2034 (USD Billion)
- 8.4.8.3. Spain: Advanced Composites Market, by End Use, 2020-2034 (USD Billion)
- 8.4.9. Advanced Composites Market - Netherlands
- 8.4.9.1. Netherlands: Advanced Composites Market, by Fiber Type, 2020-2034 (USD Billion)
- 8.4.9.2. Netherlands: Advanced Composites Market, by Manufacturing Process, 2020-2034 (USD Billion)
- 8.4.9.3. Netherlands: Advanced Composites Market, by End Use, 2020-2034 (USD Billion)
- 8.4.10. Advanced Composites Market - Russia
- 8.4.10.1. Russia: Advanced Composites Market, by Fiber Type, 2020-2034 (USD Billion)
- 8.4.10.2. Russia: Advanced Composites Market, by Manufacturing Process, 2020-2034 (USD Billion)
- 8.4.10.3. Russia: Advanced Composites Market, by End Use, 2020-2034 (USD Billion)
- 8.4.11. Advanced Composites Market - Rest of Europe
- 8.4.11.1. Rest of Europe: Advanced Composites Market, by Fiber Type, 2020-2034 (USD Billion)
- 8.4.11.2. Rest of Europe: Advanced Composites Market, by Manufacturing Process, 2020-2034 (USD Billion)
- 8.4.11.3. Rest of Europe: Advanced Composites Market, by End Use, 2020-2034 (USD Billion)
- 8.5. Advanced Composites Market - Asia Pacific
- 8.5.1. Asia Pacific: Advanced Composites Market, by Fiber Type, 2020-2034 (USD Billion)
- 8.5.2. Asia Pacific: Advanced Composites Market, by Manufacturing Process, 2020-2034 (USD Billion)
- 8.5.3. Asia Pacific: Advanced Composites Market, by End Use, 2020-2034 (USD Billion)
- 8.5.4. Advanced Composites Market - China
- 8.5.4.1. China: Advanced Composites Market, by Fiber Type, 2020-2034 (USD Billion)
- 8.5.4.2. China: Advanced Composites Market, by Manufacturing Process, 2020-2034 (USD Billion)
- 8.5.4.3. China: Advanced Composites Market, by End Use, 2020-2034 (USD Billion)
- 8.5.5. Advanced Composites Market - India
- 8.5.5.1. India: Advanced Composites Market, by Fiber Type, 2020-2034 (USD Billion)
- 8.5.5.2. India: Advanced Composites Market, by Manufacturing Process, 2020-2034 (USD Billion)
- 8.5.5.3. India: Advanced Composites Market, by End Use, 2020-2034 (USD Billion)
- 8.5.6. Advanced Composites Market - Malaysia
- 8.5.6.1. Malaysia: Advanced Composites Market, by Fiber Type, 2020-2034 (USD Billion)
- 8.5.6.2. Malaysia: Advanced Composites Market, by Manufacturing Process, 2020-2034 (USD Billion)
- 8.5.6.3. Malaysia: Advanced Composites Market, by End Use, 2020-2034 (USD Billion)
- 8.5.7. Advanced Composites Market - Japan
- 8.5.7.1. Japan: Advanced Composites Market, by Fiber Type, 2020-2034 (USD Billion)
- 8.5.7.2. Japan: Advanced Composites Market, by Manufacturing Process, 2020-2034 (USD Billion)
- 8.5.7.3. Japan: Advanced Composites Market, by End Use, 2020-2034 (USD Billion)
- 8.5.8. Advanced Composites Market - Indonesia
- 8.5.8.1. Indonesia: Advanced Composites Market, by Fiber Type, 2020-2034 (USD Billion)
- 8.5.8.2. Indonesia: Advanced Composites Market, by Manufacturing Process, 2020-2034 (USD Billion)
- 8.5.8.3. Indonesia: Advanced Composites Market, by End Use, 2020-2034 (USD Billion)
- 8.5.9. Advanced Composites Market - South Korea
- 8.5.9.1. South Korea: Advanced Composites Market, by Fiber Type, 2020-2034 (USD Billion)
- 8.5.9.2. South Korea: Advanced Composites Market, by Manufacturing Process, 2020-2034 (USD Billion)
- 8.5.9.3. South Korea: Advanced Composites Market, by End Use, 2020-2034 (USD Billion)
- 8.5.10. Advanced Composites Market - Australia
- 8.5.10.1. Australia: Advanced Composites Market, by Fiber Type, 2020-2034 (USD Billion)
- 8.5.10.2. Australia: Advanced Composites Market, by Manufacturing Process, 2020-2034 (USD Billion)
- 8.5.10.3. Australia: Advanced Composites Market, by End Use, 2020-2034 (USD Billion)
- 8.5.11. Advanced Composites Market - Rest of Asia Pacific
- 8.5.11.1. Rest of Asia Pacific: Advanced Composites Market, by Fiber Type, 2020-2034 (USD Billion)
- 8.5.11.2. Rest of Asia Pacific: Advanced Composites Market, by Manufacturing Process, 2020-2034 (USD Billion)
- 8.5.11.3. Rest of Asia Pacific: Advanced Composites Market, by End Use, 2020-2034 (USD Billion)
- 8.6. Advanced Composites Market - Middle East & Africa
- 8.6.1. Middle East & Africa: Advanced Composites Market, by Fiber Type, 2020-2034 (USD Billion)
- 8.6.2. Middle East & Africa: Advanced Composites Market, by Manufacturing Process, 2020-2034 (USD Billion)
- 8.6.3. Middle East & Africa: Advanced Composites Market, by End Use, 2020-2034 (USD Billion)
- 8.6.4. Advanced Composites Market - Saudi Arabia
- 8.6.4.1. Saudi Arabia: Advanced Composites Market, by Fiber Type, 2020-2034 (USD Billion)
- 8.6.4.2. Saudi Arabia: Advanced Composites Market, by Manufacturing Process, 2020-2034 (USD Billion)
- 8.6.4.3. Saudi Arabia: Advanced Composites Market, by End Use, 2020-2034 (USD Billion)
- 8.6.5. Advanced Composites Market - UAE
- 8.6.5.1. UAE: Advanced Composites Market, by Fiber Type, 2020-2034 (USD Billion)
- 8.6.5.2. UAE: Advanced Composites Market, by Manufacturing Process, 2020-2034 (USD Billion)
- 8.6.5.3. UAE: Advanced Composites Market, by End Use, 2020-2034 (USD Billion)
- 8.6.6. Advanced Composites Market - Israel
- 8.6.6.1. Israel: Advanced Composites Market, by Fiber Type, 2020-2034 (USD Billion)
- 8.6.6.2. Israel: Advanced Composites Market, by Manufacturing Process, 2020-2034 (USD Billion)
- 8.6.6.3. Israel: Advanced Composites Market, by End Use, 2020-2034 (USD Billion)
- 8.6.7. Advanced Composites Market - South Africa
- 8.6.7.1. South Africa: Advanced Composites Market, by Fiber Type, 2020-2034 (USD Billion)
- 8.6.7.2. South Africa: Advanced Composites Market, by Manufacturing Process, 2020-2034 (USD Billion)
- 8.6.7.3. South Africa: Advanced Composites Market, by End Use, 2020-2034 (USD Billion)
- 8.6.8. Advanced Composites Market - Rest of Middle East & Africa
- 8.6.8.1. Rest of Middle East & Africa: Advanced Composites Market, by Fiber Type, 2020-2034 (USD Billion)
- 8.6.8.2. Rest of Middle East & Africa: Advanced Composites Market, by Manufacturing Process, 2020-2034 (USD Billion)
- 8.6.8.3. Rest of Middle East & Africa: Advanced Composites Market, by End Use, 2020-2034 (USD Billion)
- 8.7. Advanced Composites Market - Latin America
- 8.7.1. Latin America: Advanced Composites Market, by Fiber Type, 2020-2034 (USD Billion)
- 8.7.2. Latin America: Advanced Composites Market, by Manufacturing Process, 2020-2034 (USD Billion)
- 8.7.3. Latin America: Advanced Composites Market, by End Use, 2020-2034 (USD Billion)
- 8.7.4. Advanced Composites Market - Mexico
- 8.7.4.1. Mexico: Advanced Composites Market, by Fiber Type, 2020-2034 (USD Billion)
- 8.7.4.2. Mexico: Advanced Composites Market, by Manufacturing Process, 2020-2034 (USD Billion)
- 8.7.4.3. Mexico: Advanced Composites Market, by End Use, 2020-2034 (USD Billion)
- 8.7.5. Advanced Composites Market - Brazil
- 8.7.5.1. Brazil: Advanced Composites Market, by Fiber Type, 2020-2034 (USD Billion)
- 8.7.5.2. Brazil: Advanced Composites Market, by Manufacturing Process, 2020-2034 (USD Billion)
- 8.7.5.3. Brazil: Advanced Composites Market, by End Use, 2020-2034 (USD Billion)
- 8.7.6. Advanced Composites Market - Argentina
- 8.7.6.1. Argentina: Advanced Composites Market, by Fiber Type, 2020-2034 (USD Billion)
- 8.7.6.2. Argentina: Advanced Composites Market, by Manufacturing Process, 2020-2034 (USD Billion)
- 8.7.6.3. Argentina: Advanced Composites Market, by End Use, 2020-2034 (USD Billion)
- 8.7.7. Advanced Composites Market - Rest of Latin America
- 8.7.7.1. Rest of Latin America: Advanced Composites Market, by Fiber Type, 2020-2034 (USD Billion)
- 8.7.7.2. Rest of Latin America: Advanced Composites Market, by Manufacturing Process, 2020-2034 (USD Billion)
- 8.7.7.3. Rest of Latin America: Advanced Composites Market, by End Use, 2020-2034 (USD Billion)
9. Competitive Landscape
- 9.1. Expansion and Acquisition Analysis
- 9.1.1. Expansion
- 9.1.2. Acquisitions
- 9.2. Partnerships/Collaborations/Agreements/Exhibitions
10. Company Profiles
- 10.1. Toray Industries Inc.
- 10.1.1. Company Overview
- 10.1.2. Financial Performance
- 10.1.3. Product Benchmarking
- 10.1.4. Recent Development
- 10.2. Koninklijke Ten Cate B.V.
- 10.2.1. Company Overview
- 10.2.2. Financial Performance
- 10.2.3. Product Benchmarking
- 10.2.4. Recent Development
- 10.3. Mitsubishi Chemical Holding Corporation
- 10.3.1. Company Overview
- 10.3.2. Financial Performance
- 10.3.3. Product Benchmarking
- 10.3.4. Recent Development
- 10.4. Hexcel Corporation
- 10.4.1. Company Overview
- 10.4.2. Financial Performance
- 10.4.3. Product Benchmarking
- 10.4.4. Recent Development
- 10.5. DowAksa Advanced Composites Holdings BV
- 10.5.1. Company Overview
- 10.5.2. Financial Performance
- 10.5.3. Product Benchmarking
- 10.5.4. Recent Development
- 10.6. Huntsman International, LLC.
- 10.6.1. Company Overview
- 10.6.2. Financial Performance
- 10.6.3. Product Benchmarking
- 10.6.4. Recent Development
- 10.7. 3M Company
- 10.7.1. Company Overview
- 10.7.2. Financial Performance
- 10.7.3. Product Benchmarking
- 10.7.4. Recent Development
- 10.8. Honeywell International Inc.
- 10.8.1. Company Overview
- 10.8.2. Financial Performance
- 10.8.3. Product Benchmarking
- 10.8.4. Recent Development
- 10.9. Teijin Limited
- 10.9.1. Company Overview
- 10.9.2. Financial Performance
- 10.9.3. Product Benchmarking
- 10.9.4. Recent Development
- 10.10. PPG Industries
- 10.10.1. Company Overview
- 10.10.2. Financial Performance
- 10.10.3. Product Benchmarking
- 10.10.4. Recent Development
- 10.11. Advanced Composites Inc.
- 10.11.1. Company Overview
- 10.11.2. Financial Performance
- 10.11.3. Product Benchmarking
- 10.11.4. Recent Development
- 10.12. Axalta Coating Systems, LLC.
- 10.12.1. Company Overview
- 10.12.2. Financial Performance
- 10.12.3. Product Benchmarking
- 10.12.4. Recent Development