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Report Overview

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

Global Advanced Polymer Composites Market Outlook

The global advanced polymer composites market size reached a value of approximately USD 20.01 billion in 2023. The market is assessed to grow at a CAGR of 6.2% between 2024 and 2032, reaching a value of nearly USD 34.28 billion by 2032.

Global Advanced Polymer Composites Market Report Summary Description Value
Base Year USD Billion 2023
Historical Period USD Billion 2018-2023
Forecast Period USD Billion 2024-2032
Market Size 2023 USD Billion 20.01
Market Size 2032 USD Billion 34.28
CAGR 2018-2023 Percentage XX%
CAGR 2024-2032 Percentage 6.2%
CAGR 2024-2032 - Market by Region Asia Pacific 6.9%
CAGR 2024-2032 - Market by Country India 7.4%
CAGR 2024-2032 - Market by Country Canada 7.0%
CAGR 2024-2032 - Market by Product Resins 6.8%
CAGR 2024-2032 - Market by Application Auto Parts 7.1%
Market Share by Country 2023 Australia 2.6%

Key Trends in the Market

Advanced polymer composites are innovative materials made by combining reinforcement materials with resins. Pultrusion, resin injection, resin transfer moulding (RTM), and filament winding are a few popular production processes. These composites are versatile and chemical-resistant, due to which they are widely used in diverse end-use sectors.

Global Advanced Polymer Composites Market

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  • The growing demand for lightweight and high-performance materials is one of the main factors driving the market for advanced polymer composites. Due to their distinctive qualities like a high strength-to-weight ratio, corrosion resistance, and durability, advanced polymer composites are highly valued in a variety of sectors. The market is anticipated to expand as companies are attempting to reduce costs, boost performance, and increase efficiency by utilising lightweight materials.
  • The advanced polymer composites market demand is surging due to the increasing requirement to reduce the weight of components utilised in the automotive sector. Moreover, with the increasing focus on the development of lightweight electric vehicles, the market is anticipated to further grow in the forecast period.
  • In order to lower maintenance costs and increase the lifespan of structures, the construction sector is increasingly adopting advanced polymer composites in infrastructure applications including bridges, tunnels, and highways.

Market Analysis

Based on product, the advanced polymer composites market is segmented into resins and fibres, among others. While the resins segment is further divided by type into epoxy resins, phenolic resins, and polyester resins, among others, fibres are classified into carbon, aramid, and glass, among others.

Global Advanced Polymer Composites Market

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On the basis of application, the market can be divided into auto parts, conductors, tanks and pipes, aviation parts, wind blades, and boat building, among others. The major regional markets for advanced polymer composites can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

CAGR 2024-2032 - Market by Country
India 7.4%
Canada 7.0%
China 6.6%
UK 6.3%
Saudi Arabia 6.0%
USA XX%
Germany 5.7%
Italy XX%
Japan XX%
Australia XX%
Brazil XX%
Mexico XX%
France 5.4%

The comprehensive EMR report provides an in-depth assessment of the market based on Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global advanced polymer composites market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments and expansion plans.

  • BASF SE
  • Arkema
  • Owens Corning
  • 3B-the fiberglass Company
  • Solvay S.A.
  • Cristex Ltd
  • SGL Carbon SE
  • Hexcel Corporation
  • DuPont de Nemours, Inc.
  • Toray TCAC Holding B.V
  • Others

Market Share by Application

With the flourishing aerospace sector, the advanced polymer composites market demand is surging to support the development of lightweight aviation parts. This is aided by rising attempts to reduce greenhouse gas emissions from aircraft by utilising lightweight materials.

Due to increasing launches of new vehicles, the auto part market is also anticipated to experience significant growth. During the forecast period, the market for advanced polymer composites is anticipated to grow amid the increasing preference for strong, lightweight, and conductive materials in the automotive sector.

Market Share by Region

Owing to the increasing demand for the product in the automotive, aerospace, and defence sectors in North America, the region represents a significant share in the global advanced polymer composites market. North America’s automotive industry is well-established, with United States being one of the top vehicle producers. The high consumer disposable incomes, increasing manufacturing of automobiles, and the growing availability of a wide range of auto parts are positively impacting the demand for advanced polymer composites in the region.

Global Advanced Polymer Composites Market

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Competitive Landscape

BASF SE is a major player in the chemical industry, headquartered in Ludwigshafen, Germany, and established in 1865. BASF is one of the largest chemical producers in the world, with operations in over 80 countries and customers in almost every industry. BASF produces a wide range of chemicals, including plastics, coatings, solvents, and catalysts.

Arkema is a French multinational company that specialises in the production and distribution of speciality chemicals and advanced materials. The company was created in 2004 as a spin-off from the French oil and gas company Total, and is headquartered in Colombes, a suburb of Paris, France. Arkema's products and services are divided into three main business segments including high performance materials, industrial chemicals, and coating solutions.

Owens Corning is a multinational company engaged in developing and producing various building materials such as insulation, roofing, and fibreglass composites. The company is headquartered in Ohio, United States has been operating in the market since 1938. The company follows sustainability as a core value, and it makes significant investments in research and development for the creation of sustainable products. Through its durable, energy efficient, and sustainable solutions, the company aims to drive sustainability.

Other players in the advanced polymer composites market include 3B-the fiberglass Company, Solvay S.A., Cristex Ltd, SGL Carbon SE, Hexcel Corporation, DuPont de Nemours, Inc., and Toray TCAC Holding B.V., among others.

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Product
  • Application
  • Region
Breakup by Product
  • Resins
  • Fibres
  • Others
Breakup by Application
  • Auto Parts
  • Conductors
  • Tanks and Pipes
  • Aviation Parts
  • Wind Blades
  • Boat Building
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • BASF SE
  • Arkema
  • Owens Corning
  • 3B-the fiberglass Company
  • Solvay S.A.
  • Cristex Ltd
  • SGL Carbon SE
  • Hexcel Corporation
  • DuPont de Nemours, Inc.
  • Toray TCAC Holding B.V
  • Others

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

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Key Questions Answered in the Report

In 2023, the market reached an approximate value of USD 20.01 billion.

The market is projected to grow at a CAGR of 6.2% between 2024 and 2032.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach around USD 34.28 billion by 2032.

The growing demand for lightweight and high-performance materials and the increasing focus on reducing maintenance costs of vehicles are the major market drivers.

The development of lightweight electric vehicle components utilising advanced polymer composites and the surging use of advanced polymer composites in the aviation and defence sectors are key trends guiding the market growth.

The major regional markets include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The significant products considered in the market report are resins, and fibres, among others.

The major applications of advanced polymer composites include auto parts, conductors, tanks and pipes, aviation parts, wind blades, and boat building, among others.

The key players in the market for advanced polymer composites include BASF SE, Arkema, Owens Corning, 3B-the fiberglass Company, Solvay S.A., Cristex Ltd, SGL Carbon SE, Hexcel Corporation, DuPont de Nemours, Inc., and Toray TCAC Holding B.V, among others.

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63 Fiona Drive, Tamworth, NSW

+61-448-061-727

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+91-858-608-1494

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