Top Advanced Composites Companies

Advanced Composites Market size was valued at USD 42.83 Billion in 2023 and is poised to grow from USD 47.52 Billion in 2024 to USD 109.21 Billion by 2032, growing at a CAGR of 10.96% during the forecast period (2025-2032).

Global advanced composites market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. 'Toray Industries, Inc. ', 'Teijin Limited ', 'Mitsubishi Chemical Holdings Corporation ', 'SGL Group ', 'Koninklijke Ten Cate BV ', 'Huntsman International, LLC ', 'Solvay ', 'Hexcel Corporation ', 'Hexion ', 'Owens Corning ', 'BASF SE ', 'Gurit ', 'AGY ', 'Dowaksa ', 'Honeywell International Inc. ', 'Advanced Composites Inc. ', 'Kineco-Kaman ', 'Henkel AG & Co. KGaA ', 'Gaffco Ballistics ', 'Nippon Graphite Fiber Co., Ltd.'

The effectiveness of advanced composite materials is being recognised and appreciated by an increasing number of industry sectors. Composites are giving industries that previously relied on steel or aluminium constructions a competitive advantage. Its applications are no longer restricted to aerospace, high-performance yachting, and wind energy. Building facades, medical applications, truck cabins, and a wide range of other applications use advanced composites, resulting in driving the growth of the advanced composites market.

Engine parts made of ceramic matrix advanced composites include combustor liners, blades, nozzles, and shrouds. The aircraft's operational and administrative costs are decreasing as a result of improving fuel economy. In addition to high urbanisation, industrialization, and rising income levels, China, India, and other countries high economic processes playing a significant role in the acceptance of fuel-efficient cost-cutting machinery.

North America is expected to dominate the market during the forecast period, with a sizable market share due to rising demand in the automotive, aerospace, and defence industries. North America's automotive sector is one of the largest in the world, with the United States being one of the largest automobile producers. The US market has grown as a result of its large market size and significant disposable income of consumers, as well as its ability to mass produce and offer a wide range of products.