The Composite Materials Market is to Touch $158 Billion by 2030; Adopting composite materials due to their lightweight properties and Growing global emphasis on sustainability & environmental responsibility propels market growth.

The Composite Materials Market size is estimated to reach $158 billion by 2030, growing at a CAGR of 7.9% during the forecast period 2024-2030, according to a recent report published by IndustryARC, titled, “Composite Materials Market – By Type (FRP Composites (Fiber Reinforcement Polymers), [Glass Fiber Reinforced Polymers (GFRP), Carbon Fiber Reinforced Polymers (CFRP), Aramid Fiber Reinforced Polymers (AFRP), and Others], Matrices [Polymer Matrix Composite (PMC), Metal Matrix Composite (MMC), Ceramic Matrix Composites (CMC)], Resins [Thermoset resins {Epoxy, Vinyl Ester, Polyester, and Others}, Thermoplastic resins], and Others), By Form (Fiber Tow, Unidirectional Tape, Cloth), By Method (Open molding [Hand Lay-Up, Spray-Up, Filament Winding], Closed molding [Compression molding, Pultrusion, Reinforced Reaction Injection molding (RRIM), Resin Transfer molding (RTM), Vacuum Bag Molding, and Others]), By Application (Aerospace, Wind Energy, Automotive, Construction, Electrical, Sporting Goods, Pipes & Tanks, and Others), By Geography - Global Opportunity Analysis & Industry Forecast, 2024-2030”

Expansion in the aerospace & defense sectors and Growth in wind energy applications are expected to create growth opportunities in the market during forecast period.

APAC accounted for the largest share of 35% of the Composite Materials Market in 2023 followed by North America and Europe. With a growing emphasis on technological advancements and innovation, coupled with favorable government policies and investments in research and development, Asia Pacific continues to present significant opportunities for market expansion and diversification, solidifying its position as a powerhouse in the global composite materials market. 

As environmental concerns gain prominence, manufacturers are focusing on developing and utilizing composites made from recycled fibers and resins. This shift is driven by the need to reduce waste, lower carbon footprints, and adhere to stricter environmental regulations. For instance, recycled carbon fibers are being incorporated into automotive and aerospace components, offering a way to mitigate the environmental impact of composite production while maintaining performance standards. Additionally, bio-based composites made from natural fibers like bamboo or hemp are gaining traction in various industries, including construction and consumer goods, due to their reduced environmental impact and renewability.

Nano-composites, which integrate nanoparticles into the composite matrix, are enhancing the mechanical, thermal, and electrical properties of traditional composites. This advancement is particularly relevant in high-tech industries such as aerospace, electronics, and automotive, where performance requirements are stringent. Smart materials, which can respond dynamically to environmental changes (such as temperature or stress), are being increasingly used in applications like self-healing structures, adaptive aerospace components, and advanced sporting equipment. These innovations are driving the evolution of composite materials, offering new possibilities for enhanced functionality and efficiency across various applications.