Advanced Composites Market is to Touch $65.17 Billion by 2030; The Increasing Demand for Lightweight Materials in the Aerospace Sector and The Demand for Corrosion-Resistant Materials in Marine Applications is Fueling Market Growth.

The Advanced Composites Market size is estimated to reach $65.17  billion by 2030, growing at a CAGR of 9.5% during the forecast period 2024-2030, according to a recent report published by IndustryARC, titled, “Advanced Composites Market – By Fiber Type (Carbon Fiber Composites, Aramid Fiber Composites and S-Glass Composites), By Resin Type (Advanced Thermosetting Composites and Advanced Thermoplastic Composites), By Manufacturing Process (AFP/ATL, Compression Molding Process, Hand Layup/Spray Layup Process, Resin Transfer Molding Process, Filament Winding Process, Injection Molding Process, Pultrusion Process), By End Use Industry (Aerospace and Defense, Wind Energy, Transportation, Sporting Goods, Pipes and Tanks, Marine, Civil Engineering, Electrical and Electronics, Medical), By Geography - Global Opportunity Analysis & Industry Forecast, 2024-2030”

Growing environmental concerns are prompting the adoption of eco-friendly composite materials and Advancements in manufacturing technologies are facilitating the production of high-performance composites are fueling the growth of the Advanced Composites industry during the forecast period.

Europe Dominated the Market in 2023:

Europe accounted for the largest share of 34% of the Advanced Composites Market in 2023. Increasing demand for lightweight materials across various industries, including aerospace, automotive, and construction drive the Advanced Composites market in Europe. Innovations in manufacturing processes and material technologies enhance the performance and durability of composite materials, making them more appealing for high-performance applications. Additionally, stringent environmental regulations push manufacturers to adopt sustainable practices, further promoting the use of advanced composites. Collaborative research initiatives and investments in R&D foster the development of novel applications, contributing to the market's evolution in the region.

The automotive industry's shift toward electric vehicles (EVs) is significantly boosting the demand for lightweight materials in the advanced composites market. In August 2024, the U.S. Department of Energy reported that 147,521 hybrid electric vehicles (HEVs) were sold in the United States, representing a 37.5% increase from August 2023. This transition is driven by the imperative for improved energy efficiency and extended driving range in EVs, achievable through weight reduction. Lightweight materials, including carbon fiber and reinforced plastics, are increasingly preferred due to their exceptional strength-to-weight ratio and durability. Moreover, manufacturers are prioritizing sustainable and recyclable materials to align with environmental regulations and consumer demands. As automakers continue to innovate for enhanced performance while minimizing their environmental impact, the advanced composites market is poised for substantial growth.

The surge in air travel has significantly increased the demand for advanced composites in aircraft manufacturing. As airlines strive to enhance fuel efficiency and reduce operational costs, they are increasingly turning to lightweight composite materials that offer superior strength-to-weight ratios. These advanced materials contribute to the overall performance of aircraft and also improve durability and corrosion resistance, leading to lower maintenance requirements. Furthermore, the emphasis on sustainability in aviation is driving manufacturers to adopt eco-friendly composite options. This shift aligns with environmental goals and also meets the rising consumer demand for greener travel solutions, positioning advanced composites as a vital component in modern aircraft design and production. 

Key companies profiled in the Advanced Composites Market are Arkema S.A., BASF SE, Hexcel Corporation, Solvay S.A. (Cytec Industries Inc.), Koninklijke Ten Cate N.V., TPI Composites Inc. Toray Industries Inc., Mitsubishi Chemical Advanced Materials, Teijin Limited., American Securities LLC (Hexion), SGL Carbon SE and Others.