Key Takeaways
- Global composites market size reached USD 109.6 billion in 2022 and is projected to grow to USD 168.8 billion by 2030 at a CAGR of 5.6%.
- The North American composites market was valued at USD 17.2 billion in 2022, expected to reach USD 25.8 billion by 2030 with a CAGR of 5.2%.
- Asia-Pacific composites market accounted for 42% of global share in 2022, driven by automotive and construction sectors.
- U.S. composites industry output reached 5.2 million metric tons in 2022.
- China produced 2.1 million tons of carbon fiber composites in 2023, leading global production.
- Europe manufactured 1.8 million tons of glass fiber reinforced polymers (GFRP) in 2022.
- Automotive sector consumed 1.2 million tons of composites globally in 2023.
- Wind turbine blades used 450,000 tons of composites in 2023 worldwide.
- Aerospace primary structures made with 52% composites by weight in Boeing 787.
- Recyclable thermoplastic composites adoption in automotive interiors rose 15% YoY in 2023.
- Continuous fiber reinforced thermoplastic (CFRT) processing speeds increased to 10m/min in 2023 presses.
- Nano-enhanced composites improved tensile strength by 30% in lab tests 2023.
- U.S. composites employment totaled 105,000 jobs in 2023.
- Germany exported USD 2.1 billion in composites in 2022.
- India composites market grew 12% to USD 1.5 billion in FY2023.
The global composites industry is growing strongly, driven by diverse sectors like aerospace, automotive, and construction.
Application Statistics
- Automotive sector consumed 1.2 million tons of composites globally in 2023.
- Wind turbine blades used 450,000 tons of composites in 2023 worldwide.
- Aerospace primary structures made with 52% composites by weight in Boeing 787.
- Construction industry utilized 25% of global composites output in 2022 for rebar and panels.
- Marine composites market for boats and yachts reached 180,000 tons in 2023.
- Electrical and electronics used 350,000 tons of composites in 2023.
- Rail transport composites weight reduction averaged 20% in new trains 2023.
- Oil & gas sector deployed 500,000 tons of composite pipes in 2023.
- Consumer goods composites market for furniture hit USD 2.3 billion.
- Defense applications used 15% composites by weight in fighter jets 2023.
- Building & construction composites 2.8 million tons consumption 2023.
- Bicycle frames 70% carbon composites by volume in high-end market.
- Hydrogen storage tanks 90% composite materials by weight.
- Solar panel frames used 120,000 tons composites 2023.
- Medical prosthetics composites market USD 800 million 2023.
- Aerospace 50% of high-performance composites demand.
- Automotive lightweighting saved 500 kg CO2/vehicle with composites.
- Bridge decks 15% composites in U.S. infrastructure projects.
- UAVs 80% composites by airframe weight average.
- Sporting goods rackets 65% carbon fiber composites.
Application Statistics Interpretation
Market Statistics
- Global composites market size reached USD 109.6 billion in 2022 and is projected to grow to USD 168.8 billion by 2030 at a CAGR of 5.6%.
- The North American composites market was valued at USD 17.2 billion in 2022, expected to reach USD 25.8 billion by 2030 with a CAGR of 5.2%.
- Asia-Pacific composites market accounted for 42% of global share in 2022, driven by automotive and construction sectors.
- Wind energy composites segment generated USD 12.4 billion in revenue in 2023 globally.
- Aerospace composites market size was USD 28.5 billion in 2023, projected CAGR 7.8% to 2030.
- European composites market valued at EUR 12.5 billion in 2022.
- Global thermoset composites dominated with 65% market share in 2023.
- Thermoplastic composites market projected to grow at 9.1% CAGR to 2030.
- Pressure vessel composites segment grew 11% in 2023 to USD 1.2 billion.
- Sports and recreation composites revenue hit USD 4.8 billion in 2023.
- Global composites market CAGR forecast 6.2% from 2023-2028.
- Natural fiber composites market size USD 5.6 billion in 2023.
- CFRP market valued at USD 32.4 billion in 2023 globally.
- GFRP pipes market projected USD 4.5 billion by 2030.
- Recycled composites market grew to USD 1.1 billion in 2023.
- Advanced composites market USD 45.2 billion in 2023 forecast.
- Polymer matrix composites 85% of total market volume 2023.
- Metal matrix composites niche USD 650 million 2023.
- Ceramic matrix composites for engines USD 1.8 billion.
- Hybrid composites market growing at 10.5% CAGR to 2030.
Market Statistics Interpretation
Production Statistics
- U.S. composites industry output reached 5.2 million metric tons in 2022.
- China produced 2.1 million tons of carbon fiber composites in 2023, leading global production.
- Europe manufactured 1.8 million tons of glass fiber reinforced polymers (GFRP) in 2022.
- Global carbon fiber production capacity hit 180,000 metric tons per year in 2023.
- U.S. pultrusion production volume grew 4.5% to 450,000 tons in 2023.
- Pipe and tank composites production reached 800,000 tons globally 2023.
- Filament winding machines produced 250,000 composite cylinders in 2023.
- Sheet molding compound (SMC) output was 1.1 million tons in 2022.
- Prepreg consumption totaled 320,000 tons worldwide in 2023.
- Compression molded parts production up 6% to 900,000 tons in 2023.
- Vacuum infusion production volume 550,000 tons in Europe 2023.
- Hand lay-up still 35% of total composites fabrication globally.
- Resin infusion processes output increased 7% to 400,000 tons.
- Braided composites production up 12% for aerospace tubes.
- Foam core sandwich panels produced 280,000 cubic meters 2023.
- Autoclave-cured parts still 45% aerospace composites production.
- Pultruded profiles output 600,000 tons global 2023.
- Centrifugal casting for pipes 150,000 tons annually.
- Towpreg processing for preforms up 18% volume.
- Wrap-and-inject molding new for 200,000 parts/year.
Production Statistics Interpretation
Regional Statistics
- U.S. composites employment totaled 105,000 jobs in 2023.
- Germany exported USD 2.1 billion in composites in 2022.
- India composites market grew 12% to USD 1.5 billion in FY2023.
- Japan holds 45% of global carbon fiber production capacity at 80,000 tons/year.
- Brazil composites production increased 9% to 120,000 tons in 2023.
- Middle East composites market grew 8% to USD 1.8 billion in 2023.
- South Korea carbon fiber production capacity at 25,000 tons/year 2023.
- Australia wind composites manufacturing up 14% to 50,000 tons.
- Russia composites output reached 85,000 tons amid sanctions 2023.
- Canada exported CAD 1.2 billion in composites products 2023.
- Africa composites market emerging at USD 500 million 2023.
- UK composites turnover GBP 2.2 billion with 28,000 employees.
- France GFRP production 450,000 tons leading EU producer.
- Mexico automotive composites hub produced 80,000 tons 2023.
- Turkey exports USD 300 million composites annually 2023.
- Southeast Asia composites market USD 3.2 billion 2023.
- Spain wind blade production 25,000 tons/year capacity.
- Italy marine composites leader at 50,000 tons output.
- Poland construction composites grew 20% to 40,000 tons.
- Argentina aerospace composites exports USD 150 million.
Regional Statistics Interpretation
Technological Advancements
- Recyclable thermoplastic composites adoption in automotive interiors rose 15% YoY in 2023.
- Continuous fiber reinforced thermoplastic (CFRT) processing speeds increased to 10m/min in 2023 presses.
- Nano-enhanced composites improved tensile strength by 30% in lab tests 2023.
- Resin transfer molding (RTM) cycle times reduced to under 5 minutes for automotive parts in 2023.
- Bio-based resins accounted for 8% of composites formulations in Europe 2023.
- Out-of-autoclave (OOA) processes now 40% of aerospace composites production.
- 3D-printed continuous fiber composites parts increased 25% in volume 2023.
- Hybrid yarn technology boosted impact resistance by 40% in 2023 studies.
- Automated fiber placement (AFP) machines produced 60% more parts in 2023.
- Self-healing composites prototypes repaired 80% of damage autonomously.
- High-temperature thermoplastics withstand 350°C in new composites.
- Fiber-reinforced 3D printing resolution improved to 50 microns.
- Graphene-infused composites conductivity up 5000% vs standard.
- Laser-assisted tape placement speeds hit 50m/min in 2023.
- Flame-retardant bio-resins met UL94 V-0 standards widely 2023.
- AI-optimized layup designs reduced waste 25% in 2023.
- Recyclable epoxy resins via vitrimers commercialized 2023.
- Basalt fiber production scaled to 300,000 tons capacity.
- Electromagnetic shielding composites for EVs up 200% efficacy.
- Multi-axial fabrics reduced labor 30% in hand layup.
Technological Advancements Interpretation
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