Industry: Advanced Materials & Composites (Chemicals & Materials)
Source: https://www.mordorintelligence.com/industry-reports/composite-material-market
Scraped Date: 2026-09-17
| Market Metric | Details |
|---|---|
| Base Market Size | USD 70.94 billion |
| Projected Forecast (2031) | USD 70.94 billion |
| Growth Rate (CAGR) | 4.86 % |
| Largest Market Region | N/A |
| Fastest-Growing Region | N/A |
!Major players in Composite Material industry
!Composite Material Market Size
!Composite Material Market Share by Matrix Material, 2025
!Composite Material Market Share by End-use Industry, 2025
!Composite Material Market Growth Rate by Region
!Composite Material Market Concentration
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Market OverviewStudy Period | 2020 - 2031 |
Market Size (2026) | USD 70.94 Billion |
Market Size (2031) | USD 89.93 Billion |
Growth Rate (2026 - 2031) | 4.86 % |
Fastest Growing Market | Asia Pacific |
Largest Market | Asia Pacific |
Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order
Image © Vijeron Intelligence. Reuse requires attribution under CC BY 4.0.
|
Composite Material Market Analysis by Vijeron IntelligenceThe Composite Material market size is expected to grow from USD 67.65 billion in 2025 to USD 70.94 billion in 2026 and is forecast to reach USD 89.93 billion by 2031 at 4.86% CAGR over 2026-2031. Robust demand for lightweight, high-performance materials in transportation, energy, infrastructure and electronics is widening the application portfolio, while continuous process automation is lowering cycle times and defects. Asia-Pacific, holding 45.12% of global revenue in 2024, remains the epicenter of volume growth as wind-turbine expansion, electrification programs and large-scale infrastructure projects accelerate regional consumption. Rapid progress in ceramic matrix technologies, steady substitution of metals by polymer matrix grades and an improving supply base for specialty reinforcements are strengthening competitive barriers for late entrants. Recycling limitations, however, continue to cloud long-term circularity targets and could restrain adoption if end-of-life solutions do not keep pace with installation rates.
Key Report Takeaways* By matrix material, polymer matrix composites commanded 55.62% of the composites market share in 2025, while ceramic matrix composites are poised to climb at an 8.84% CAGR through 2031.
Market Trends and InsightsDrivers Impact Analysis of Composite Material Market*Driver | (~) % Impact on CAGR Forecast | Geographic Relevance | Impact Timeline |
Electrification-driven carbon-fiber demand in e-mobility | +1.5% | Asia-Pacific, North America, Europe | Medium term (2-4 years) |
Increasing usage in the manufacturing of wind turbine blades | +1.8% | Europe, Asia-Pacific, North America | Long term (≥ 4 years) |
Growing adoption of thermoplastic composites in mass-production automotive | +1.4% | North America, Europe, Asia-Pacific | Medium term (2-4 years) |
Increasing use of composites in the aerospace and defense industry | +1.6% | North America, Europe, Asia-Pacific | Long term (≥ 4 years) |
Technological Advancement in the Field of Material Science | +1.2% | Global | Long term (≥ 4 years) |
Source: Vijeron Intelligence |
Competitive Landscape
The composites market is fragmented, with global leaders integrating fiber production, fabric manufacturing, and part fabrication to streamline raw material access and certification timelines. Mergers and acquisitions, such as Owens Corning’s USD 755 million divestiture of its glass-reinforcements business to Praana Group, drive scale and portfolio realignment. SGL Carbon’s 2025 restructuring of its Carbon Fibers unit highlights wind sector demand volatility and high capital requirements. Technology investments in automation, resin infusion, and rapid-cycle materials, like Toray’s acquisition of Gordon Plastics’ assets, enhance competitiveness. Companies like Syensqo focus on thermoplastic innovations to capture OEM value. Sustainability is a key growth area, with start-ups like Pond Biomaterials and Composite Recycling advancing bio-based resins and fiber recovery. Collaborations on self-healing and multifunctional laminates, alongside intellectual property in nano-fillers and graphene coatings, are expected to strengthen pricing power and raise entry barriers despite rising demand.
Composite Material Industry Leaders* Owens Corning
Image © Vijeron Intelligence. Reuse requires attribution under CC BY 4.0.
This market is defined as the revenue generated from composite materials that combine a matrix (polymer, metal, or ceramic) with a reinforcement (such as fibers), supplied into major industrial uses worldwide and measured in value terms.
Scope exclusions: We exclude metal alloys and monolithic plastics that do not use a composite structure, along with lab-scale materials that are not yet commercialized.
The composites market is valued at USD 70.94 billion in 2026 and is projected to reach USD 89.93 billion by 2031.
Asia-Pacific leads with 44.85% of global revenue and is also the fastest-growing region at a 7.45% CAGR through 2031.
CMCs can operate above 1 600 °C, enabling lighter, more efficient jet-engine and energy-system components and are forecast to expand at an 8.84% CAGR.
High material cost and limited large-scale recycling options remain the primary challenges constraining wider penetration into cost-sensitive sectors.
Rapid-cycle thermoplastic techniques such as automated tape laying, compression molding and injection over-molding are now aligning with mass-production takt times.