Composites Market Report: Key Growth Drivers in the US & UK

The composites market has experienced significant growth in recent years, driven by increasing demand across various industries, including aerospace, automotive, construction, and wind energy. Composites, made from a combination of two or more distinct materials, offer superior properties such as high strength-to-weight ratio, corrosion resistance, and durability. This article provides an in-depth analysis of the composites industry, focusing on composites  market trends, regional demand in the US and UK, and key players driving innovation and expansion.

Market Overview and Growth Trends

The global composite market size was valued at approximately USD 108.8 billion in 2023 and is expected to reach to reach USD 181.7 billion by 2028, projecting a CAGR of 10.8%  during the forecast period between 2023 and 2028. The global composites market was valued at approximately $90 billion in 2023 and is expected to witness steady growth, driven by advancements in material science and increased adoption in lightweight applications. The demand for composites is particularly strong in sectors requiring high-performance materials, such as aerospace, renewable energy, and automotive manufacturing.

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Key growth factors include:

• Rising adoption of lightweight materials to improve fuel efficiency in vehicles and aircraft.
• Increasing investments in wind energy, where composites are widely used in turbine blades.
• Growing infrastructure and construction activities requiring high-strength and durable materials.
• Advancements in recycling technologies to promote sustainable composite solutions.

US Composites Market Demand and Growth

The United States is one of the largest consumers of composite materials, driven by its well-established aerospace, defence, and automotive industries. The country's focus on sustainability and energy-efficient solutions has further propelled the adoption of composites in various applications.

Key Factors Driving Demand in the US:

• Aerospace and Defense: Companies like Boeing and Lockheed Martin are integrating composites in aircraft structures to reduce weight and enhance fuel efficiency.
• Automotive Sector: Increasing use of carbon fiber-reinforced composites in electric vehicles (EVs) to improve battery performance and reduce weight.
• Wind Energy: Government policies and incentives supporting renewable energy have boosted the production of wind turbines, where composites play a crucial role.
• Infrastructure Development: The construction sector is incorporating fiber-reinforced composites for bridges and buildings due to their durability and corrosion resistance.

UK Composites Market Demand and Growth

The United Kingdom is also a prominent player in the global composites market, with increasing adoption in industries such as aerospace, automotive, and renewable energy. The UK government’s initiatives towards net-zero emissions by 2050 have accelerated the demand for lightweight and sustainable composite materials.

Key Factors Driving Demand in the UK:

• Aerospace Industry: Home to leading aerospace manufacturers like BAE Systems and Rolls-Royce, the UK heavily invests in composite materials for aircraft efficiency.
• Sustainable Mobility: The UK automotive industry is witnessing a shift towards electric and hybrid vehicles, increasing the use of composites in battery enclosures and body panels.
• Construction Sector: The push for modern, energy-efficient buildings is driving the demand for composite-based insulation and structural materials.
• Marine and Defense: The Royal Navy and commercial marine industries are integrating composites for shipbuilding due to their lightweight and anti-corrosive properties.

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Key Players in the Composites Market

Several multinational companies and regional manufacturers contribute to the expansion of the composites market. Some of the leading players include:

⏩ Hexcel Corporation (US) – A key supplier of advanced composite materials for aerospace and industrial applications.

⏩ Toray Industries Inc. (Japan/US Presence) – A major producer of carbon fiber composites used in automotive and aerospace sectors.

⏩ Solvay (Belgium/UK Presence) – A global leader in high-performance thermoset and thermoplastic composites.

⏩ SGL Carbon (Germany/UK Presence) – A renowned supplier of carbon-based composite solutions.

⏩ Teijin Limited (Japan/US & UK Presence) – Specializes in carbon fiber composites for automotive and aerospace industries.

⏩ Owens Corning (US) – Leading producer of fiberglass composites for construction and industrial applications.

⏩ Gurit Holding AG (Switzerland/UK Presence) – A significant provider of composite solutions for wind energy, marine, and automotive sectors.

Toray Industries, Inc

 Toray Industries Inc. is a multinational corporation headquartered in Japan and is one of the largest manufacturers of industrial materials in the world. Toray has grown into a diversified company with operations spanning various sectors, including fibers and textiles, plastics and chemicals, IT-related products, carbon fiber composite materials, and life science products. Toray's business encompasses a wide range of industries, including automotive, aerospace, electronics, healthcare, and environmental solutions. With a strong focus on innovation and sustainability, Toray is a leading producer of carbon fiber composite materials used in aerospace, automotive, and sporting goods industries, providing lightweight, high-strength solutions.Toray Industries, Inc.'s subsidiary, Zoltek Composites, Inc. (US) offers carbon composites for the automotive, maritime, commercial, and mobility industries. The company has manufacturing and research facilities in North America, Latin America, Europe, Africa, Asia, and other regions and operates in 29 countries. It has 283 subsidiaries, with 103 in Japan and 180 overseas.

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Teijin Limited

Teijin Limited is a Japanese chemical, pharmaceutical, and information technology company involved in the manufacture, processing, and selling of chemical products. Its main fields of operations are high-performance fibers such as aramid, carbon fibers & composites, healthcare, films, resin & plastic processing, polyester fibers, product converting, and IT products. The company offers advanced solutions having applications in the transportation, electronics, energy, and healthcare sectors. Teijin has a wide geographical presence with manufacturing facilities in North America, Europe, and the Asia Pacific, covering over 20 countries.

Outlook

The future of the composites market looks promising, with continuous advancements in material science, sustainability initiatives, and increasing industry adoption. The US and UK markets will continue to be significant contributors to the industry’s growth, with key drivers including:

• Expansion of electric vehicle production incorporating lightweight composites.
• Increased investments in aerospace and defense applications.
• Government policies supporting green energy and sustainable construction.
• Innovations in bio-based and recyclable composite materials.

Conclusion

The composites industry is poised for substantial growth, with rising demand across multiple sectors in the US and UK. As technology advances and sustainability becomes a key focus, composite materials will play a vital role in shaping the future of manufacturing, infrastructure, and energy solutions. Industry leaders and innovators will continue to drive market expansion, making composites a critical component of modern industrial applications.