Fiber Reinforced Composites Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | > 7.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Fiber Reinforced Composites Market Analysis
The global fiber reinforced composites market is expected to grow at with a CAGR greater than 7% during the forecast period. Major driving factors of the market studied are the beneficial properties of fiber reinforced composites like high strength to weight ratio, corrosion resistance, energy absorption on impact, moisture and chemical resistance. However, high cost of raw materials is hindering the growth of the market studied.
- North America accounts for the highest share of the market studied currently and is expected to dominate the market during the forecast period.
- Another major driver of the market studied is the increasing demand from the aerospace industry.
Fiber Reinforced Composites Market Trends
This section covers the major market trends shaping the Fiber Reinforced Composites Market according to our research experts:
Aerospace Industry is likely to Witness the Highest Growth
- The demand for fuel-efficient and long haul aircraft is the major driving factor for the carbon fiber composite industry.
- Use of carbon fiber composites in wings can reduce the weight of the aircraft by around 50,000 pounds. It offers superior strength to weight ratio, high chemical resistance, high stiffness and low thermal expansion. Also, its mechanical properties can be tailored to the application.
- The use of composite materials in commercial transport aircraft is lucrative as the reduced airframe weight enables better fuel economy and therefore lowers operating costs.
- Reduced maintenance and longer design life, fewer parts, and reduced tooling and assembly costs are some of the reasons driving the market for carbon fiber in the aerospace industry.
- Hence, owing to the above-mentioned reasons, aerospace industry is expected to witness the highest growth during the forecast period.
North America to Dominate the Market
- North America has emerged as one of the largest fiber reinforced composites markets in the recent years.
- The building & construction industry represents the major outlet for fiber reinforced composite(FRC)s and is expected to provide the best opportunities for the growth of the market during the forecast period.
- This region is expected to register the highest demand for FRC, owing to the increasing demand from aerospace and defense , wind turbine, and sports/leisure industries.
- Large concentration of aircraft makers such as Airbus and automobile giants in this region are expected to drive the market in this region.
- Hence, owing to the above-mentioned factors, North America is expected to dominate the market during the forecast period.
Fiber Reinforced Composites Industry Overview
The global fiber reinforced composites market is moderately fragmented as the market share is divided between many players. Key players in the market include Toray Industries, Inc., Hexcel Corporation, Solvay, SABIC, and PolyOne Corporation, among others.
Fiber Reinforced Composites Market Leaders
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TORAY INDUSTRIES, INC
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Hexcel Corporation
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Solvay
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SABIC
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PolyOne Corporation
*Disclaimer: Major Players sorted in no particular order
Fiber Reinforced Composites Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Assumptions
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1.2 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Drivers
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4.1.1 High Strength to Weight Ratio, Corrosion Resistance, Moisture & Chemical Resistance of Fiber Reinforced Composites
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4.1.2 Growing Demand from the Aerospace Industry
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4.1.3 Other Drivers
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4.2 Restraints
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4.2.1 High Cost of Raw Materials
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4.2.2 Other Restraints
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4.3 Industry Value-chain Analysis
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4.4 Porter's Five Forces Analysis
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4.4.1 Bargaining Power of Suppliers
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4.4.2 Bargaining Power of Consumers
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4.4.3 Threat of New Entrants
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4.4.4 Threat of Substitute Products and Services
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4.4.5 Degree of Competition
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5. MARKET SEGMENTATION
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5.1 Fiber Type
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5.1.1 Carbon Fibers
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5.1.2 Fiberglass
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5.1.3 Aramid Fibers
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5.1.4 Boron Fibers
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5.2 Matrix
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5.2.1 Polymer Matrix Composites
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5.2.2 Metal Matrix Composites
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5.2.3 Ceramic Composites
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5.2.4 Carbon-Carbon Composites
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5.2.5 Hybrid Composites
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5.3 End-user Industry
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5.3.1 Building & Construction
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5.3.2 Automotive
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5.3.3 Electrical & Electronics
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5.3.4 Aerospace & Defense
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5.3.5 Sporting goods
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5.3.6 Wind Energy
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5.3.7 Others
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5.4 Geography
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5.4.1 Asia-Pacific
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5.4.1.1 China
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5.4.1.2 India
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5.4.1.3 Japan
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5.4.1.4 South Korea
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5.4.1.5 ASEAN Countries
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5.4.1.6 Rest of Asia-Pacific
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5.4.2 North America
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5.4.2.1 United States
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5.4.2.2 Canada
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5.4.2.3 Mexico
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5.4.3 Europe
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5.4.3.1 Germany
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5.4.3.2 United Kingdom
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5.4.3.3 France
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5.4.3.4 Italy
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5.4.3.5 Rest of Europe
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5.4.4 South America
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5.4.4.1 Brazil
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5.4.4.2 Argentina
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5.4.4.3 Rest of South America
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5.4.5 Middle-East & Africa
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5.4.5.1 Saudi Arabia
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5.4.5.2 South Africa
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5.4.5.3 Rest of Middle-East & Africa
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6. COMPETITIVE LANDSCAPE
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6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
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6.2 Market Share/Ranking Analysis**
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6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
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6.4.1 TORAY INDUSTRIES, INC.
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6.4.2 Hexcel Corporation
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6.4.3 Solvay
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6.4.4 SABIC
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6.4.5 PolyOne Corporation
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6.4.6 TPI Composites.
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6.4.7 Plasan Carbon Composites
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Fiber Reinforced Composites Industry Segmentation
The Fiber Reinforced Composites market report includes:
| Fiber Type | |
| Carbon Fibers | |
| Fiberglass | |
| Aramid Fibers | |
| Boron Fibers |
| Matrix | |
| Polymer Matrix Composites | |
| Metal Matrix Composites | |
| Ceramic Composites | |
| Carbon-Carbon Composites | |
| Hybrid Composites |
| End-user Industry | |
| Building & Construction | |
| Automotive | |
| Electrical & Electronics | |
| Aerospace & Defense | |
| Sporting goods | |
| Wind Energy | |
| Others |
| Geography | ||||||||
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Fiber Reinforced Composites Market Research FAQs
What is the current Fiber Reinforced Composites Market size?
The Fiber Reinforced Composites Market is projected to register a CAGR of greater than 7% during the forecast period (2024-2029)
Who are the key players in Fiber Reinforced Composites Market?
TORAY INDUSTRIES, INC, Hexcel Corporation , Solvay, SABIC and PolyOne Corporation are the major companies operating in the Fiber Reinforced Composites Market.
Which is the fastest growing region in Fiber Reinforced Composites Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Fiber Reinforced Composites Market?
In 2024, the North America accounts for the largest market share in Fiber Reinforced Composites Market.
What years does this Fiber Reinforced Composites Market cover?
The report covers the Fiber Reinforced Composites Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Fiber Reinforced Composites Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Fiber Reinforced Composites Industry Report
Statistics for the 2024 Fiber Reinforced Composites market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. Fiber Reinforced Composites analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
