Advanced Polymer Composites Market Size & Share 2022 to 2030
Market Size by Product (Resin, Fiber, Others), by Application (Resin, Fiber, Others) & Forecast.
Report ID: GMI1175
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Published Date: August 2022
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Report Format: PDF
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Authors:
Kiran Pulidindi, Akshay Prakash
Advanced Polymer Composites Market Size
Advanced Polymer Composites Market size was valued at over USD 10.5 billion in 2021 and is estimated to record around 5.9% CAGR during the forecast period 2022-2030.
Advanced polymer composites are innovative materials that find wide applications in several domains, such as automotive, construction, aerospace, marine, and biomedicine. They are highly versatile and suited for use in distinct working conditions. Some of the benefits offered by these composites include great durability, high stiffness, superior strength-to-weight ratio, and resistance to corrosion, harsh chemicals & environmental elements. Advanced polymers can replace conventional materials such as wood and metal, depending on the end-use.
There is an increased demand for advanced composites from the automotive sector, as the materials can help reduce the weight of various components to enhance the fuel efficiency of vehicles. Most automakers are seeking new methods to develop lightweight parts for upcoming EV models. For example, in January 2021, automaker Jaguar Land Rover (JLR) joined U.K.’s Tucana consortium. The 4-year project will give the manufacturer an opportunity to explore the applications and benefits of advanced composite materials to produce more lightweight electric cars.
The high cost of product development and production, due to complex processes involved and raw material acquisition, could impede the advanced polymer composites market forecast. Manufacturing advanced composites can require a lot of time and increase the labor costs. However, the growing material demand from aerospace, automotive and wind energy sectors will help to tackle these market restraints over the next few years.
Advanced Polymer Composites Market Analysis
Based on the product type, the advanced polymer composites market is divided into fiber, resin, and other materials. Resin segment is set to surpass USD 6 billion by 2030. Many resins are resistant to high flames & electricity and possess superior mechanical strength. They can be used in metal bonding as well as carbon and electrical materials. With these characteristic advantages, resin-based polymers are suitable for auto components and aviation parts. A consistent rise in air traffic across emerging economies over the next few years will fuel the demand for aircrafts, impacting advanced polymer composites development.
The advanced polymer composites industry share from the carbon fiber segment will record a 6.6% CAGR through 2022-2030. Carbon fiber has excellent rigidity along with great tensile strength, which makes it useful in automotive, marine, and aerospace applications. Also, the material is highly suited for weight reduction of wind blades. Continuous government efforts to support renewable energy development will positively influence the market trends. For example, in May 2022 the authorities in Norway present an initiative to strengthen offshore wind power generation, which can enhance the regional access to renewables for private and commercial use.
Global advanced polymer composites market share from the auto parts application is predicted to exceed USD 3.2 billion by 2030. The growing disposable income, easy credit facility, and increasing demand for vehicles will fuel the production of auto components. Nearly 1.6 million new motor vehicles were registered in Canada during 2021, which was a 6.5% increase from 2020. This indicates the high demand for vehicles and a positive impact on advanced polymer composites application, as car manufacturers can produce lighter yet stronger auto parts. Gradual surge in EV adoption in developing regions will reinforce the need for polymer composites.
Europe advanced polymer composites market share will surpass USD 5 billion in value by 2030. Increasing EV production and research activities by leading companies will be beneficial for the regional industry statistics. Government policies to support the production of electric vehicles (EVs) will also spur the demand for advanced polymer composites. For instance, the French government announced a USD 8.2 billion rescue plan for the country’s auto sector in May 2020. It also included giving individual grants to encourage the purchase of green vehicles, with more than USD 3,000 being offered as bonuses to people who buy lesser polluting automobiles.
Advanced Polymer Composites Market Share
are among the leading companies in the global advanced polymer composites market. Strategic alliances, acquisitions, and mergers will help these organizations expand business opportunities, make effective use of advanced composites and bolster customer base across regions. For example, in July 2022, Arkema acquired Polimeros Especiales, a leading emulsion resins producer in Mexico. The planned acquisition will strengthen Arkema’s position in the fast-growing regional market.
COVID-19 Impact
The COVID-19 pandemic had a negative influence on the development of global advanced polymer composites market. Several sectors, including automotive, construction, and aerospace witnessed a steep decline in production due to lockdowns & travel restrictions. The lack of adequate manpower and raw materials impacted the industry trends. However, as these sectors recover with decreasing coronavirus cases worldwide, the consumption of advanced polymer composites will increase. Consistent development of renewable energy projects to meet an increased power demand will drive wind blade production, influencing the demand for composite materials.
The Advanced Polymer Composites Market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilo Tons and revenue in USD Million from 2018 to 2030, for the following segments:
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By Product
By Application
The above information is provided on a regional and country basis for the following:
Research methodology, data sources & validation process
This report draws on a structured research process built around direct industry conversations, proprietary modelling, and rigorous cross-validation and not just desk research.
Our 6-step research process
1. Research design & analyst oversight
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2. Primary research
Primary research forms the backbone of our methodology, contributing nearly 80% to overall insights. It involves direct engagement with industry participants to ensure accuracy and depth in analysis. Our structured interview program covers regional and global markets, with inputs from C-suite executives, directors, and subject matter experts. These interactions provide strategic, operational, and technical perspectives, enabling well-rounded insights and reliable market forecasts.
3. Data mining & market analysis
Data mining is a key part of our research process, contributing nearly 20% to the overall methodology. It involves analysing market structure, identifying industry trends, and assessing macroeconomic factors through revenue share analysis of major players. Relevant data is collected from both paid and unpaid sources to build a reliable database. This information is then integrated to support primary research and market sizing, with validation from key stakeholders such as distributors, manufacturers, and associations.
4. Market sizing
Our market sizing is built on a bottom-up approach, starting with company revenue data gathered directly through primary interviews, alongside production volume figures from manufacturers and installation or deployment statistics. These inputs are then pieced together across regional markets to arrive at a global estimate that stays grounded in actual industry activity.
5. Forecast model & key assumptions
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✓ Key growth drivers and their assumed impact
✓ Restraining factors and mitigation scenarios
✓ Regulatory assumptions and policy change risk
✓ Technology adoption curve parameter
✓ Macroeconomic assumptions (GDP growth, inflation, currency)
✓ Competitive dynamics and market entry/exit expectations
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Verified data sources
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GMI archive
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