The global composite materials market is valued at approximately USD 105.2 billion in 2024, driven by surging adoption across aerospace composites, automotive composite materials, construction industry composites, marine composites, wind energy composite materials, sports & recreation composites, electronics & electrical composites, and infrastructure composites sectors. North America and Western Europe maintain premium pricing due to advanced composite materials development, stringent quality standards, certifications, and OEM-integrated supply chains, while Asia-Pacific leverages cost-efficient, high-volume production, capturing about 45% of global revenues in 2024. Regional trends highlight strong adoption of lightweight composites for automotive and aerospace applications, expanded use of carbon fiber reinforced plastics (CFRP), glass fiber composites, and thermoplastic vs thermoset composites innovations, alongside growing demand for biodegradable and sustainable composite materials. Supply dynamics are influenced by raw materials for composites, including resins, fibers, and additives, as well as energy and logistics costs.
Composite Materials overview
Published by MMR Statistics Research Team, Updated