High Performance Composites Market To Reach $111.4 Billion By 2030

High Performance Composites Market Growth & Trends

The global high performance composites market size is expected to reach USD 111.4 billion by 2030, registering a CAGR of 9.1% from 2024 to 2030, according to a new report by Grand View Research, Inc. Growing demand for high performance composites from aerospace & defense sectors is expected to play a key role in the growth of the market over the forecast period.

The products possess superior mechanical properties including high chemical resistance and stiffness, courtesy which they have witnessed an increase in demand in construction, consumer goods, and energy sectors. Increasing consumption in the automobile industry, as an alternative to traditional materials such as steel and aluminum, is also expected to be one of the key drivers of the market.

The Asia Pacific was the largest market for high performance composites in 2023. This region, with growing consumption from the above-mentioned industries, is also expected to witness the highest growth in this market over the next eight years. China and Japan, which are home to some of the largest electronics and automobile companies, dominated the Asia Pacific market in 2023.

 Request a free sample copy or view report summary: High Performance Composites Market Report

High Performance Composites Market Report Highlights

• The global high performance composites market size was valued at USD 60.9 billion in 2023 and is projected to grow at a CAGR of 9.1% from 2024 to 2030.

• Resins dominated the market and accounted for the largest revenue share of 55.7% in 2023 and the fibers are anticipated to experience significant growth over the forecast period.

• Automotive applications led the market and accounted for the largest revenue share in 2023. This segment is driven by growing demand from pressure vessel and passenger car manufacturers.

• The Asia Pacific high-performance composites market dominated the global market and accounted for the largest revenue share of 40.8% in 2023. This region is characterized by a growing demand for composites from the automobile and construction sectors in emerging countries.

High Performance Composites Market Segmentation

Grand View Research has segmented the global high performance composites market report based on material, application, and region:

High Performance Composites Material Outlook (Volume, Kilotons; Revenue, USD Billion, 2018 - 2030)

• Resins

• Fibers

High Performance Composites Application Outlook (Volume, Kilotons; Revenue, USD Billion, 2018 - 2030)

• Aerospace

• Automotive & Industrial

• Energy

• Consumer Goods

• Defense

• Electronics

• Construction

• Others

High Performance Composites Regional Outlook (Volume, Kilotons; Revenue, USD Billion, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

• Asia Pacific

  • China

  • Japan

  • India

  • South Korea

• Latin America

  • Brazil

• Middle East and Africa (MEA)

  • Saudi Arabia

List of Key Players of High Performance Composites Market

• BASF

• Arkema

• Hexcel Corporation

• Solvay

• TenCate Protective Fabrics

• SGL Carbon

• Owens Corning.

• TPI Composites

• DuPont.

• SABIC