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Global Advanced Polymer Composites Market Size, Share, Growth, Forecast: By Product: Resins, Fibres, Others; By Application: Auto Parts, Conductors, Tanks and Pipes, Aviation Parts, Wind Blades, Boat Building, Others; Regional Analysis; Market Dynamic; Competitive Landscape; Key Trends and Developments in the Market; 2024-2032
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.
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.
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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.
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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.
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.
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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:
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| Breakup by Product |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Advanced Polymer Composites Market Analysis
8.1 Key Industry Highlights
8.2 Global Advanced Polymer Composites Historical Market (2018-2023)
8.3 Global Advanced Polymer Composites Market Forecast (2024-2032)
8.4 Global Advanced Polymer Composites Market by Product
8.4.1 Resins
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2023)
8.4.1.3 Forecast Trend (2024-2032)
8.4.1.4 Breakup by Type
8.4.1.4.1 Epoxy Resins
8.4.1.4.2 Phenolic Resins
8.4.1.4.3 Polyester Resins
8.4.1.4.4 Others
8.4.2 Fibres
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2023)
8.4.2.3 Forecast Trend (2024-2032)
8.4.2.4 Breakup by Type
8.4.2.4.1 Carbon
8.4.2.4.2 Aramid
8.4.2.4.3 Glass
8.4.2.4.4 Others
8.4.3 Others
8.5 Global Advanced Polymer Composites Market by Application
8.5.1 Auto Parts
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2023)
8.5.1.3 Forecast Trend (2024-2032)
8.5.2 Conductors
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2023)
8.5.2.3 Forecast Trend (2024-2032)
8.5.3 Tanks and Pipes
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2023)
8.5.3.3 Forecast Trend (2024-2032)
8.5.4 Aviation Parts
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2023)
8.5.4.3 Forecast Trend (2024-2032)
8.5.5 Wind Blades
8.5.5.1 Market Share
8.5.5.2 Historical Trend (2018-2023)
8.5.5.3 Forecast Trend (2024-2032)
8.5.6 Boat Building
8.5.6.1 Market Share
8.5.6.2 Historical Trend (2018-2023)
8.5.6.3 Forecast Trend (2024-2032)
8.5.7 Others
8.6 Global Advanced Polymer Composites Market by Region
8.6.1 North America
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2023)
8.6.1.3 Forecast Trend (2024-2032)
8.6.2 Europe
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2023)
8.6.2.3 Forecast Trend (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2023)
8.6.3.3 Forecast Trend (2024-2032)
8.6.4 Latin America
8.6.4.1 Market Share
8.6.4.2 Historical Trend (2018-2023)
8.6.4.3 Forecast Trend (2024-2032)
8.6.5 Middle East and Africa
8.6.5.1 Market Share
8.6.5.2 Historical Trend (2018-2023)
8.6.5.3 Forecast Trend (2024-2032)
9 North America Advanced Polymer Composites Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2023)
9.1.3 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2023)
9.2.3 Forecast Trend (2024-2032)
10 Europe Advanced Polymer Composites Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2023)
10.1.3 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2023)
10.2.3 Forecast Trend (2024-2032)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2023)
10.3.3 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2023)
10.4.3 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Advanced Polymer Composites Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2023)
11.1.3 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2023)
11.2.3 Forecast Trend (2024-2032)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2023)
11.3.3 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2023)
11.4.3 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2023)
11.5.3 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Advanced Polymer Composites Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2023)
12.1.3 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2018-2023)
12.2.3 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2018-2023)
12.3.3 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Advanced Polymer Composites Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2023)
13.1.3 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2023)
13.2.3 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Market Share
13.3.2 Historical Trend (2018-2023)
13.3.3 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2018-2023)
13.4.3 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 BASF SE
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Arkema
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Owens Corning
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 3B-the fiberglass Company
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Solvay S.A.
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Cristex Ltd
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 SGL Carbon SE
16.2.7.1 Company Overview
16.2.7.2 Product Portfolio
16.2.7.3 Demographic Reach and Achievements
16.2.7.4 Certifications
16.2.8 Hexcel Corporation
16.2.8.1 Company Overview
16.2.8.2 Product Portfolio
16.2.8.3 Demographic Reach and Achievements
16.2.8.4 Certifications
16.2.9 DuPont de Nemours, Inc.
16.2.9.1 Company Overview
16.2.9.2 Product Portfolio
16.2.9.3 Demographic Reach and Achievements
16.2.9.4 Certifications
16.2.10 Toray TCAC Holding B.V
16.2.10.1 Company Overview
16.2.10.2 Product Portfolio
16.2.10.3 Demographic Reach and Achievements
16.2.10.4 Certifications
16.2.11 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Advanced Polymer Composites Market: Key Industry Highlights, 2018 and 2032
2. Global Advanced Polymer Composites Historical Market: Breakup by Product (USD Billion), 2018-2023
3. Global Advanced Polymer Composites Market Forecast: Breakup by Product (USD Billion), 2024-2032
4. Global Advanced Polymer Composites Historical Market: Breakup by Application (USD Billion), 2018-2023
5. Global Advanced Polymer Composites Market Forecast: Breakup by Application (USD Billion), 2024-2032
6. Global Advanced Polymer Composites Historical Market: Breakup by Region (USD Billion), 2018-2023
7. Global Advanced Polymer Composites Market Forecast: Breakup by Region (USD Billion), 2024-2032
8. North America Advanced Polymer Composites Historical Market: Breakup by Country (USD Billion), 2018-2023
9. North America Advanced Polymer Composites Market Forecast: Breakup by Country (USD Billion), 2024-2032
10. Europe Advanced Polymer Composites Historical Market: Breakup by Country (USD Billion), 2018-2023
11. Europe Advanced Polymer Composites Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Asia Pacific Advanced Polymer Composites Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Asia Pacific Advanced Polymer Composites Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Latin America Advanced Polymer Composites Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Latin America Advanced Polymer Composites Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Middle East and Africa Advanced Polymer Composites Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Middle East and Africa Advanced Polymer Composites Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Global Advanced Polymer Composites Market Structure
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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