Mexico Composites Market Size & Outlook, 2024-2030
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Mexico composites market highlights
- The Mexico composites market generated a revenue of USD 3,823.8 million in 2023 and is expected to reach USD 5,807.9 million by 2030.
- The Mexico market is expected to grow at a CAGR of 6.3% from 2024 to 2030.
- In terms of segment, glass fiber was the largest revenue generating product in 2023.
- Carbon Fiber is the most lucrative product segment registering the fastest growth during the forecast period.
Composites market data book summary
| Market revenue in 2023 | USD 3,823.8 million |
| Market revenue in 2030 | USD 5,807.9 million |
| Growth rate | 6.3% (CAGR from 2024 to 2030) |
| Largest segment | Glass fiber |
| Fastest growing segment | Carbon Fiber |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Carbon Fiber, Glass Fiber |
| Key market players worldwide | Teijin Ltd, Toray Industries Inc, Owens-Corning Inc, PPG Industries Inc, Huntsman Corp, SGL Group, Hexcel Corp, DuPont de Nemours Inc, Compagnie de Saint-Gobain SA, Weyerhaeuser Co, Cytec Industries, Jushi, KINECO, Momentive, Veplas Group |
Other key industry trends
- In terms of revenue, Mexico accounted for 3.9% of the global composites market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. composites market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 3,046.2 million by 2030.
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Composites Market Scope
Composites Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Jushi | View profile | 5001-10000 | Tongxiang, Zhejiang, China, Asia | https://jushi.com/ |
| Veplas Group | View profile | - | Velenje, Velenje Urban Commune, Slovenia, Europe | https://www.veplasgroup.com |
| Momentive | View profile | 5001-10000 | Schenectady, New York, United States, North America | https://www.momentive.com/ |
| KINECO | View profile | 251-500 | Pilerne, Goa, India, Asia | https://www.kinecogroup.com |
| Weyerhaeuser Co | View profile | 9318 | 220 Occidental Avenue South, Seattle, WA, United States, 98104-7800 | https://www.weyerhaeuser.com |
| PPG Industries Inc | View profile | 53000 | One PPG Place, Pittsburgh, PA, United States, 15272 | https://www.ppg.com |
| Owens-Corning Inc | View profile | 18000 | One Owens Corning Parkway, Toledo, OH, United States, 43659 | https://www.owenscorning.com |
| Cytec Industries | View profile | 1001-5000 | Little Falls, New Jersey, United States, North America | http://cytec.com |
| SGL Group | View profile | 11-50 | Adelaide, South Australia, Australia, Oceania | https://www.sglgroup.net |
| Hexcel Corp | View profile | 5590 | 281 Tresser Boulevard, Two Stamford Plaza, 16th Floor, Stamford, CT, United States, 06901 | https://www.hexcel.com |
| Teijin Ltd | View profile | 24499 | 6-7, Minami Hommachi 1-chome, Chuo-ku, Osaka, Japan, 541-8587 | http://www.teijin.co.jp |
| Toray Industries Inc | View profile | 48682 | Nihonbashi Mitsui Tower 2-1-1, Nihonbashi Muromach, Chuo-ku, Tokyo, Japan, 103-8666 | http://www.toray.co.jp |
| DuPont de Nemours Inc | View profile | 24000 | 974 Centre Road, Building 730, Wilmington, DE, United States, 19805 | https://www.dupont.com |
| Compagnie de Saint-Gobain SA | View profile | 168508 | 12, Place de l'Iris, Tour Saint-Gobain, Courbevoie, France, 92400 | http://www.saint-gobain.com |
| Huntsman Corp | View profile | 6000 | 10003 Woodloch Forest Drive, The Woodlands, TX, United States, 77380 | https://www.huntsman.com |
Mexico composites market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to composites market will help companies and investors design strategic landscapes.
Glass fiber was the largest segment with a revenue share of 53.63% in 2023. Horizon Databook has segmented the Mexico composites market based on carbon fiber, glass fiber covering the revenue growth of each sub-segment from 2018 to 2030.
Ongoing research and development activities and mounting awareness towards fuel efficiency are generating a favorable environment for the automobile market in Mexico. Moreover, the presence of multinational automakers in the country coupled with the growing trends for lightweight vehicles for increased fuel economy is expected to increase the utilization of composites in the country.
According to American Industries Group, in 2021 Mexico is the primary motor vehicle exporter to the U.S. and is the 5th largest producer of auto-parts in the world. The automotive industry in Mexico is expected to witness high growth owing to large investments from automotive manufacturers.
Chrysler, Ford, GM, Mazda, Honda, Nissan, Toyota, and Volkswagen are the major players in this region. Manufacturers including Bavarian Motor Works and KIA have invested in manufacturing facilities in Mexico.
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Target buyers of Mexico composites market databook
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Our clientele includes a mix of composites market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the Mexico composites market , including forecasts for subscribers. This country databook contains high-level insights into Mexico composites market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Mexico composites market size, by product, 2018-2030 (US$M)
Mexico Composites Market Outlook Share, 2023 & 2030 (US$M)
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