Composites Market Trends

ID: MRFR/CnM/3956-CR

111 Pages

Chitranshi Jaiswal

February 2022

Composites Market Research Report Information By Type (Glass Fiber, Carbon Fiber, and Others), By Resin Type (Thermoplastic Composites, and Thermosetting Composites), By Process (Layup Process, Injection Molding Process, Filament Winding Process, Pultrusion Process, Compression Molding Process, and Others), By End-use(Aerospace & Defense, Automotive & Transportation, Electrical & Electronics, Building & Construction, Wind Energy, Marine) And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) - Forecast Till 2035.

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Market Trends

Key Emerging Trends in the Composites Market

In recent years, there has been a shift across different industries, which can best be defined as dynamic trends observed in the composite sector worldwide. Composites refer to a combination of two or more different materials having different physical properties or chemical compositions, thereby becoming lighter, stronger, corrosion-resistant materials. Among notable developments in this line include the demand for greater quantities of these substances from the aviation industry, among others. Also significant within automotive manufacturing trends are changes that have seen this industry emerge as a key driver for composite use. Consequently, car manufacturers are progressively taking up compositional elements to increase fuel economy while reducing total vehicle mass. The move not only ensures enhanced sustainability but also falls perfectly into place with global calls for more electric cars. In addition, adoption by automakers has caused an increase in automotive applications such as interior parts and structural components using these materials. The construction industry, too,, has not been left behind when it comes to utilizing composites in its undertakings. The need for durable, corrosion-resistant, and lightweight materials in construction projects has fueled the adoption of composites for various applications. On the other hand, we see increased use of composites during construction, which involves even designing bridges, buildings, and other infrastructure elements. Another significant player affecting the composites market is the renewable energy sector. In particular, wind energy has increased the demand for large, lightweight components which can withstand harsh environmental conditions. These are made with high strength-to-weight ratio composites. This trend will continue as there is an intensifying global drive towards clean energy, thus further developments on composite materials that match the specific requirements of the renewable energy sector. However, recycling and sustainability pose a number of challenges in the composites marketplace. Despite their performance benefits, however, concerns have been raised over how these composites are disposed of at their end-of-life. The aim here is the development of more sustainable composite materials as well as improved recycling processes. In addition, there is a growing awareness of the environmental costs associated with composites, as evidenced by market trends that have shown an increase in research and development activities aimed at eco-friendly substitutes. Geographical trends for Asia-Pacific show its emergence as a powerhouse for composite products globally. The region's strong manufacturing base, especially in China, has led to increased demand for composites across many sectors. North America and Europe remain important players focusing on technological advancements coupled with sustainable practices.

Market Highlights

Author

Chitranshi Jaiswal

Research Analyst Level I

In her 3 years of experience in the market research field, she has handled critical cross-domain projects. She has an in-depth knowledge of market estimation & analysis, problem-solving, primary as well as secondary research, and team management.She holds an engineering degree and is an MBA professional from a well-known university, capable of evaluating the market and competitive conditions. An exceptional strategist with excellent communication skills and a passion for delivering cutting-edge & practical insights for the market. Proficient in multi-tasking, and can successfully deal with competing demands, while maintaining complete confidentiality. Generated business through active client and project development, networking, and high-quality responses. Her knowledge and skills have helped in making solid business decisions, securing funding from investors, and avoiding business failures.

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FAQs

What is the current valuation of the Composites Market as of 2024?

The Composites Market was valued at 133.55 USD Billion in 2024.

What is the projected market valuation for the Composites Market in 2035?

The projected valuation for the Composites Market in 2035 is 331.95 USD Billion.

What is the expected CAGR for the Composites Market during the forecast period 2025 - 2035?

The expected CAGR for the Composites Market during the forecast period 2025 - 2035 is 8.63%.

Which segment of the Composites Market is expected to have the highest valuation in 2035?

The Thermosetting Composites segment is projected to reach between 93.55 and 231.95 USD Billion by 2035.

How does the valuation of Glass Fiber compare to Carbon Fiber in the Composites Market?

Glass Fiber is expected to range from 70.0 to 170.0 USD Billion, while Carbon Fiber is projected to be between 40.0 and 100.0 USD Billion.

What are the key end-use industries driving the Composites Market?

Key end-use industries include Automotive & Transportation, projected to reach 30.0 to 80.0 USD Billion, and Aerospace & Defense, expected to range from 20.0 to 50.0 USD Billion.

1. Market Overview

2. Market Trends

3. Market Segment Insights

4. Key Players and Competitive Insights

5. Industry Developments

6. Market Segmentation

7. Report Scope

8. Market Highlights

9. FAQs

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Market Summary

As per Market Research Future analysis, the Composites Market Size was estimated at 133.55 USD Billion in 2024. The Composites industry is projected to grow from 145.07 USD Billion in 2025 to 331.95 USD Billion by 2035, exhibiting a compound annual growth rate (CAGR) of 8.63% during the forecast period 2025 - 2035

Key Market Trends & Highlights

The Composites Market is poised for robust growth driven by sustainability and technological advancements.

North America remains the largest market for composites, driven by strong demand in aerospace and automotive sectors. Asia-Pacific is emerging as the fastest-growing region, fueled by increasing industrialization and infrastructure development. Glass fiber composites dominate the market, while carbon fiber composites are experiencing rapid growth due to their lightweight properties. Key market drivers include the rising focus on renewable energy and advancements in manufacturing technologies, particularly in automotive applications.

Market Size & Forecast

2024 Market Size	133.55 (USD Billion)
2035 Market Size	331.95 (USD Billion)
CAGR (2025 - 2035)	8.63%
Largest Regional Market Share in 2024	Asia Pacific

Major Players

Hexcel Corporation (US), Toray Industries Inc. (JP), Teijin Limited (JP), SGL Carbon SE (DE), Mitsubishi Chemical Corporation (JP), Solvay SA (BE), Owens Corning (US), BASF SE (DE), 3M Company (US), DuPont de Nemours Inc. (US)

Market Trends

The Composites Market is currently experiencing a dynamic evolution, driven by advancements in material science and increasing demand across various industries. The integration of composite materials into sectors such as aerospace, automotive, and construction appears to be reshaping traditional manufacturing processes. This shift is likely influenced by the need for lightweight, durable, and corrosion-resistant materials that enhance performance while reducing overall weight. Furthermore, sustainability concerns are prompting manufacturers to explore eco-friendly composite solutions, which may lead to innovative product developments and applications. In addition, the Composites Market is witnessing a surge in research and development activities aimed at improving the properties of existing materials. This focus on innovation suggests a potential for enhanced functionality and versatility in composite applications. As industries continue to prioritize efficiency and sustainability, the market may see a broader adoption of advanced composites, which could further drive growth and diversification. Overall, the Composites Market is poised for significant transformation, reflecting the interplay of technological advancements and evolving consumer preferences.

Sustainability Initiatives

The emphasis on sustainable practices within the Composites Market is becoming increasingly pronounced. Manufacturers are exploring bio-based composites and recycling methods to minimize environmental impact. This trend indicates a shift towards greener alternatives, aligning with global sustainability goals.

Technological Advancements

Innovations in manufacturing techniques, such as additive manufacturing and automated processes, are reshaping the Composites Market. These advancements may enhance production efficiency and reduce costs, potentially leading to wider adoption across various sectors.

Customization and Specialization

There is a growing trend towards customized composite solutions tailored to specific industry needs. This focus on specialization suggests that manufacturers are responding to unique challenges faced by different sectors, thereby expanding the range of applications for composite materials.

Composites Market Market Drivers

Rising Focus on Renewable Energy

The shift towards renewable energy sources is significantly influencing the Composites Market. Wind energy, in particular, is a sector where composite materials are extensively utilized, especially in the production of turbine blades. The demand for larger and more efficient wind turbines is driving the need for advanced composite materials that can withstand harsh environmental conditions. Reports suggest that the wind energy composites market could exceed 10 billion USD by 2025, reflecting a robust growth trajectory. This trend highlights the potential for the Composites Market to play a crucial role in supporting the global transition to sustainable energy solutions, as manufacturers seek to develop innovative materials that enhance the performance and longevity of renewable energy systems.

Expansion in Automotive Applications

The automotive industry is undergoing a transformation, with a marked shift towards lightweight materials to improve fuel efficiency and reduce emissions. The Composites Market is poised to capitalize on this trend, as manufacturers increasingly incorporate composite materials into vehicle designs. For instance, the use of composites in electric vehicles is projected to grow significantly, driven by the need for lighter components that enhance battery efficiency. Reports indicate that the automotive composites market could reach around 20 billion USD by 2025, reflecting a compound annual growth rate of over 10%. This expansion underscores the potential of the Composites Market to meet the evolving demands of the automotive sector, particularly in the context of sustainability and performance.

Growing Applications in Construction

The construction industry is increasingly recognizing the advantages of composite materials, which are being integrated into various applications such as infrastructure and building components. The Composites Market is likely to benefit from this trend, as composites offer durability, corrosion resistance, and lightweight properties that traditional materials cannot match. The use of composites in construction is projected to grow, with estimates indicating a market size of over 5 billion USD by 2026. This growth is driven by the need for sustainable building practices and the desire for materials that can withstand extreme weather conditions. As the construction sector continues to evolve, the Composites Market is well-positioned to provide innovative solutions that meet the demands of modern architecture and infrastructure.

Increasing Demand in Aerospace Sector

The aerospace sector is experiencing a notable surge in demand for lightweight and high-strength materials, which positions the Composites Market favorably. Composites Market, particularly carbon fiber reinforced polymers, are increasingly utilized in aircraft manufacturing due to their superior strength-to-weight ratio. This trend is evidenced by the projected growth of the aerospace composites market, which is anticipated to reach approximately 30 billion USD by 2026. The shift towards fuel-efficient aircraft designs further propels the adoption of composite materials, as they contribute to reduced fuel consumption and lower emissions. Consequently, the Composites Market is likely to benefit from this growing demand, as manufacturers seek innovative solutions to enhance performance and sustainability in aerospace applications.

Advancements in Manufacturing Technologies

Technological advancements in manufacturing processes are reshaping the landscape of the Composites Market. Innovations such as automated fiber placement and 3D printing are enhancing the efficiency and precision of composite production. These technologies not only reduce production costs but also enable the creation of complex geometries that were previously unattainable. As a result, manufacturers are increasingly adopting these advanced techniques to meet the growing demand for customized composite solutions. The integration of smart manufacturing technologies is also expected to drive growth in the Composites Market, as companies seek to optimize their operations and improve product quality. This trend indicates a promising future for the industry, as it aligns with the broader movement towards Industry 4.0.

Market Segment Insights

By Type: Glass Fiber (Largest) vs. Carbon Fiber (Fastest-Growing)

In the Composites Market, Glass Fiber holds the largest share due to its widespread applications in construction, automotive, and aerospace sectors. Its cost-effectiveness and excellent mechanical properties make it the preferred choice for manufacturers. On the other hand, <a href="https://www.marketresearchfuture.com/reports/carbon-fiber-market-7607">Carbon Fiber</a>, while currently smaller in market share, is rapidly gaining traction owing to its unmatched strength-to-weight ratio and superior performance in high-end applications, especially in the automotive and sports industries. This shift is indicative of evolving market demands for lightweight and high-performance materials.

Glass Fiber (Dominant) vs. Carbon Fiber (Emerging)

Glass Fiber has established itself as the dominant player in the Composites Market, primarily due to its affordability and versatility. Used extensively in industries such as construction and marine, it offers excellent resistance to corrosion and high temperatures. In contrast, Carbon Fiber, although emerging, is carving a niche in sectors demanding advanced performance, such as aerospace and high-performance automobiles. Carbon Fiber's ability to provide lightweight yet strong components is driving its adoption. As industries lean towards more efficient materials, Carbon Fiber is expected to witness exponential growth, positioning itself as a key player in the future of composite materials.

By Resin Type: Thermoplastic Composites Market (Largest) vs. Thermosetting Composites Market (Fastest-Growing)

In the Composites Market, the distribution of market share between Resin Types reveals that <a href="https://www.marketresearchfuture.com/reports/thermoplastic-composites-market-4244">Thermoplastic Composites Market</a> are currently the largest segment, celebrated for their versatility and ease of processing. In contrast, Thermosetting Composites Market are capturing attention as the fastest-growing segment, driven by their superior mechanical properties and thermal resistance, making them highly desirable in applications that demand durability and performance. Recent trends suggest that industries such as aerospace and automotive are increasingly leaning towards Thermosetting Composites Market, fostering their growth as manufacturers seek materials that offer not just strength, but also weight reduction and design flexibility. As the Composites Market continues to evolve, the growth of Thermosetting Composites Market is bolstered by technological innovations and increased adoption in high-performance applications. The ability of these materials to withstand extreme conditions while providing excellent dimensional stability is a key driver. Meanwhile, sustainability considerations are pushing manufacturers to explore eco-friendly formulations within the Thermosetting space, further escalating the segment’s momentum. Overall, both Thermoplastic and Thermosetting segments will crucially shape the future landscape of the composites market, fostering innovation and competition across the board.

Resin Type: Thermoplastic Composites Market (Dominant) vs. Thermosetting Composites Market (Emerging)

Thermoplastic Composites Market are recognized as the dominant force in the Composites Market, characterized by their ability to be remolded and easily processed, which allows for recycling and reduced waste. Their applications span various sectors, including automotive, <a href="https://www.marketresearchfuture.com/reports/construction-equipment-market-1963">construction</a>, and consumer goods, where high strength-to-weight ratios and ease of manufacturing are paramount. On the other hand, Thermosetting Composites Market are emerging strongly due to their inherent properties such as excellent thermal stability and resistance to deformation under heat. This makes them a preferred choice in demanding applications like aerospace and electronics. The distinct characteristics of both segments underscore their unique advantages and applications within the market, fostering a competitive yet complementary relationship.

By Process: Layup Process (Largest) vs. Injection Molding Process (Fastest-Growing)

In the Composites Market, the market share distribution reveals that the Layup Process stands out as the largest contributor, primarily due to its widespread adoption in the aerospace and automotive industries. This traditional method is favored for its ability to produce high-quality composite parts, which fuels its dominance over other processes. Meanwhile, the Injection Molding Process is gaining traction, especially in the production of complex shapes and high-volume components, appealing to manufacturers looking for efficiency and precision.

Layup Process (Dominant) vs. Injection Molding Process (Emerging)

The Layup Process is recognized as the dominant technique in the Composites Market, widely used for creating large and intricate parts, especially in sectors like aerospace and automotive. Its ability to produce components with excellent mechanical properties gives it a strong market position. Conversely, the Injection Molding Process is emerging as a fast-growing alternative, particularly due to advancements that enable the production of complex geometries and faster cycle times. This process is increasingly favored in applications requiring mass production and intricate designs, showcasing its potential to reshape market dynamics.

By End-Use: Aerospace & Defense (Largest) vs. Automotive & Transportation (Fastest-Growing)

In the Composites Market, the distribution of market share among various end-use sectors reveals that Aerospace & Defense holds a significant portion, driven by the need for lightweight, high-strength materials in aircraft and military applications. Following closely is the Automotive & Transportation sector, which is increasingly adopting composite materials for their superior performance and fuel efficiency. This shift indicates a trend toward lightweighting across various transport modalities, aiming to enhance efficiency and reduce emissions. As we analyze the growth trends, Automotive & Transportation emerges as the fastest-growing segment, influenced by increased production of electric vehicles and stringent regulations on emissions. Moreover, advancements in composite manufacturing technologies are driving innovation, enabling broader applications in this sector. Meanwhile, Aerospace & Defense continues to expand, albeit at a slower pace, as the demand for advanced materials in aircraft manufacturing and defense mechanisms remains robust.

Aerospace & Defense (Dominant) vs. Automotive & Transportation (Emerging)

The Aerospace & Defense segment is characterized by its need for high-performance composites that enhance the overall efficiency and effectiveness of aircraft and military equipment. Composites Market in this field are essential for achieving weight reductions while maintaining structural integrity, which is critical for safety and performance. On the other hand, the Automotive & Transportation segment is witnessing a surge in the use of composites as manufacturers seek to innovate and comply with growing environmental regulations. This segment is emerging rapidly, primarily driven by the electric vehicle market, where lightweight materials are vital for extending range and improving energy efficiency. As the demand for more sustainable transportation solutions grows, the Automotive & Transportation segment is expected to capture a larger slice of the composites market, highlighting the dynamic interplay between these two pivotal sectors.

Get more detailed insights about Composites Market Research Report—Global Forecast till 2028

Regional Insights

By Region, the study segments the market into North America, Europe, Asia-Pacific, Latin America and Middle East & Africa. Asia-Pacific Composites Market accounted for USD 43.71 billion in 2021 and is expected to exhibit an 8.47% CAGR during the study period. This is attributed to growth in the aerospace & defence, and electrical & electronics industry in the region.

Further, the major countries studied are: The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Europe Composites Market accounts for the second-largest market share due to the EU proposal for tightening its 2030 target for new car CO2 emissions to 50% below 2021 levels, up from 37.5 per cent. Automobile manufacturers impose various requirements such as resistance to temperature changes, vibration resistance, operational reliability at different temperatures, and durability on the power electronics systems based on an electric vehicle's application scenario. Moreover, Germany Composites Market held the largest market share and was the fastest-growing market in the European region

The North America Composites Market is expected to grow at a CAGR of 7.46% from 2022 to 2030. This is due to growth in the automotive & transportation industry. Further, the USA Composites Market held the largest market share and was the fastest-growing market in the region.

Key Players and Competitive Insights

The Composites Market is characterized by the presence of , regional, and local players. The market is highly consolidated, with all the players competing to gain significant market share. The key market players of Composites Market compete based on cost, product quality, availability of raw materials, and durability of the product. There has been substantial revenue growth for selected composite companies, particularly those located in Asia or those with major operations in Asia. This is the result of an increased domestic demand within Asian countries, as well as an overall rise in composite demand across the globe.
However, some major companies produce more than one of the composites. A clear example is Teijin, which produces carbon fiber as well as aramid fiber.
PPG Industries, Inc. (US), Hexion (US), Jushi Group Co., Ltd (China), Toray Industries Inc. (Japan), Owens Corning (US), Teijin Limited (Japan), Hexcel Corporation (US), SGL Carbon (Germany), Mitsubishi Chemicals Corporation (Japan), Solvay (Belgium), and Huntsman International LLC (US) are the key players operating in the Composites Market. The Composites Market remains highly fragmented with the majority of tier-1 players, with leaders, including PPG INDUSTRIES INC, Teijin Limited, Mitsubishi Chemical Corporation, Solvay, and Toray Industries Inc., accounting for the largest market share. Players in this market adopted various strategies to expand their footprint and augment their market share.
PPG Industries, Inc. (PPG), a leader in transportation and industrial coatings, is engaged in the production and distribution of a broad range of paints, coatings, and specialty materials. It caters to customers operating in a wide array of end-use industries, including automotive, aerospace, marine, and construction. PPG operates through two business segments, namely, performance and industrial coating. PPG manufactures an extensive portfolio of coatings systems through 156 manufacturing facilities and has a presence in over 39 countries across the globe and sales in more than 70 countries.
The company offers flooring coating products under the protective coating solutions offered by its performance coatings business segment.
Also, Hexion is engaged in the manufacturing of advanced specialty chemicals and performance materials. It is a leading manufacturer of adhesives and epoxy resins, and coatings. It operates through business segments, namely epoxy, phenolic and coating resins, and forest products resins. The epoxy, phenolic, and coating resins segment accounted for around USD 2,052 million by the end of 2017. The company serves diverse markets, such as architectural and industrial paints, packaging, consumer goods, automotive coatings, aviation, energy, oil & gas, and electrical composites.
Hexion has a worldwide network with production facilities in more than 90 countries severing to over 3,000 customers. Its customers include Akzo Nobel N.V., 3M, BASF, Bayer, Dow, Monsanto, PPG Industries, Owens Corning, Valspar, and Weyerhaeuser.

Key Companies in the Composites Market include

Industry Developments

Q2 2024: Hexcel to Open New Carbon Fiber Plant in France to Meet Aerospace Demand Hexcel Corporation announced the opening of a new carbon fiber manufacturing facility in Les Avenières, France, aimed at supporting growing demand from the aerospace and defense sectors.
Q2 2024: Toray Industries Launches Next-Generation Thermoplastic Composite for Automotive Sector Toray Industries unveiled a new thermoplastic composite material designed for lightweight automotive applications, targeting electric vehicle manufacturers seeking improved performance and sustainability.
Q2 2024: Solvay and Safran Announce Strategic Partnership for Advanced Aerospace Composites Market Solvay and Safran entered a multi-year partnership to co-develop advanced composite materials for next-generation aircraft engines, focusing on sustainability and performance.
Q3 2024: SGL Carbon Wins Major Contract to Supply Composite Battery Enclosures for European EV Maker SGL Carbon secured a multi-year contract to supply composite battery enclosures to a leading European electric vehicle manufacturer, expanding its footprint in the automotive composites market.
Q3 2024: Owens Corning Acquires Composite Solutions Business from Ahlstrom Owens Corning completed the acquisition of Ahlstrom’s composite solutions business, strengthening its position in the global glass fiber composites market.
Q3 2024: Teijin Appoints New CEO to Drive Global Composites Market Expansion Teijin Limited announced the appointment of a new Chief Executive Officer, with a mandate to accelerate the company’s global composites business and pursue new growth opportunities.
Q4 2024: Hexcel and Arkema Open Joint R&D Center for Thermoplastic Composites Market in France Hexcel and Arkema inaugurated a joint research and development center in France dedicated to advancing thermoplastic composite technologies for aerospace and automotive applications.
Q4 2024: Spirit AeroSystems Secures $250 Million Contract for Composite Fuselage Sections Spirit AeroSystems was awarded a $250 million contract to manufacture composite fuselage sections for a new commercial aircraft program, reinforcing its leadership in aerospace composites.
Q1 2025: Mitsubishi Chemical Group Launches Recyclable Carbon Fiber Composite for Wind Turbines Mitsubishi Chemical Group introduced a new recyclable carbon fiber composite material designed for wind turbine blades, supporting the renewable energy sector’s sustainability goals.
Q1 2025: BASF and BMW Group Announce Partnership on Lightweight Composite Materials BASF and BMW Group entered a partnership to develop and implement lightweight composite materials for next-generation electric vehicles, aiming to improve efficiency and reduce emissions.
Q2 2025: Gurit Opens New Composite Manufacturing Facility in India Gurit announced the opening of a new composite manufacturing plant in India to meet rising demand from the wind energy and transportation sectors in the Asia-Pacific region.
Q2 2025: Archer Materials Raises $100 Million to Scale Graphene Composite Production Archer Materials completed a $100 million funding round to expand its graphene composite manufacturing capabilities, targeting applications in electronics and advanced manufacturing.

Future Outlook

Composites Market Future Outlook

The Composites Market is projected to grow at an 8.63% CAGR from 2025 to 2035, driven by advancements in manufacturing technologies, increasing demand in automotive, and aerospace sectors.

New opportunities lie in:

Development of bio-based composite materials for sustainable applications.
Expansion into emerging markets with tailored composite solutions.
Investment in advanced recycling technologies for composite waste management.

By 2035, the Composites Market is expected to achieve substantial growth, driven by innovation and strategic investments.

Market Segmentation

Composites Market Type Outlook

Glass Fiber
Carbon Fiber
Others

Composites Market End-Use Outlook

Aerospace & Defense
Automotive & Transportation
Electrical & Electronics
Building & Construction
Wind Energy
Marine
Others

Composites Market Process Outlook

Layup Process
Injection Molding Process
Filament Winding Process
Pultrusion Process
Compression Molding Process
Others

Composites Market Resin Type Outlook

Thermoplastic Composites
Thermosetting Composites

Report Scope

MARKET SIZE 2024	133.55(USD Billion)
MARKET SIZE 2025	145.07(USD Billion)
MARKET SIZE 2035	331.95(USD Billion)
COMPOUND ANNUAL GROWTH RATE (CAGR)	8.63% (2025 - 2035)
REPORT COVERAGE	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
BASE YEAR	2024
Market Forecast Period	2025 - 2035
Historical Data	2019 - 2024
Market Forecast Units	USD Billion
Key Companies Profiled	Hexcel Corporation (US), Toray Industries Inc. (JP), Teijin Limited (JP), SGL Carbon SE (DE), Mitsubishi Chemical Corporation (JP), Solvay SA (BE), Owens Corning (US), BASF SE (DE), 3M Company (US), DuPont de Nemours Inc. (US)
Segments Covered	Type, Resin Type, Process, End-use, Region
Key Market Opportunities	Growing demand for lightweight materials in automotive and aerospace sectors drives innovation in the Composites Market.
Key Market Dynamics	Rising demand for lightweight materials drives innovation and competition in the composites market across various industries.
Countries Covered	North America, Europe, APAC, South America, MEA