Asia Pacific Composites Market
Asia Pacific Composites Market by Fiber Type (Glass Fiber Composites, Carbon Fiber Composites, Natural Fiber Composites), Resin Type (Thermoset Composites, Thermoplastic Composites), Manufacturing Process (Layup, Compression Molding, Injection Molding, RTM, Filament Winding, Pultrusion), End-use Industry (Aerospace & Defense, Wind Energy, Automotive & Transportation, Construction & Infrastructure, Marine, Pipes, Tanks & Pressure Vessels, Electrical & Electronics), and Country - Forecast to 2030
OVERVIEW
Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis
The Asia Pacific composites market is estimated to be USD 43.25 billion in 2024 and is expected to reach USD 83.78 billion by 2030, at a CAGR of 11.6% during the forecast period. With significant producers of glass fiber and carbon fiber in China and Japan, as well as emerging economies in India and China, the Asia Pacific region has the lion's share of the global composites market. Notably, the region is seeing tremendous expansion in the wind energy sector, which is a major user of composites.
KEY TAKEAWAYS
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BY COUNTRYBy country, China accounted for a 51.4% share of the Asia Pacific composites market in 2024.
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BY FIBER TYPEBy fiber type, the carbon fiber segment is expected to register the highest CAGR of 13.9% during the forecast period.
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BY RESIN TYPEBy resin type, the thermoplastic segment is projected to grow at the fastest rate from 2025 to 2030.
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BY MANUFACTURING PROCESSBy manufacturing process, the layup manufacturing process segment accounted for the highest market share in 2024.
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BY END-USE INDUSTRYBy end-use industry, the wind energy segment is expected to continue its dominance during forecast period.
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COMPETITIVE LANDSCAPECompaniesAtomic-6, Antefil Composite Tech AG, RRTC, Inc., and Nove Carbon, among others, have distinguished themselves among startups and SMEs by securing strong footholds in specialized niche areas, underscoring their potential as market leaders.
The Asia Pacific region is seeing a noticeable growth in the transportation industry, which is another significant consumer of composites. This growth is driven by OEMs placing a greater emphasis on the manufacture of electric vehicles. All of these elements work together to fuel the region's growing need for composites. The growing focus of the region on renewable energy resources has increased wind turbine installations, further leading to the composites market growth. The ever-increasing electric vehicles market is among the key factors fostering the demand for composites in the transportation end-use industry.
TRENDS & DISRUPTIONS IMPACTING CUSTOMERS' CUSTOMERS
Changes in customer trends or disruptions affect consumers' businesses. These shifts influence the revenues of end users. As a result, the revenue changes for end users are likely to impact the revenues of composite suppliers, which in turn, affect the revenues of composite manufacturers.
Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis
MARKET DYNAMICS
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Strong manufacturing ecosystem and global leadership in composite production
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Extensive use of fiberglass composites in construction & infrastructure industry
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Lack of standardization in manufacturing technologies
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High processing and manufacturing cost
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Rapid expansion in electric vehicles and battery applications
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Increasing number of wind energy capacity installations
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Increasing environmental regulations & composite waste management issues
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Developing low-cost technologies
Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis
Driver: Strong manufacturing ecosystem and global leadership in composite production
The composites manufacturing ecosystem is one of the most developed and integrated in the world. In Asia, China is the largest producer of both glass fibers and carbon fibers; Japan and South Korea are manufacturers of the highest-performing carbon fiber technologies used in various industries (aerospace, automobile, industrial). The presence of established (OEMs), well-established supply chains and continual investments into developing material science create an environment for increased use of composite materials within the wind power, automobile, electronics and building industries. The strength of manufacturing in Asia creates a structure that will provide the lowest cost, largest capability, and highest speed when developing and implementing new composite materials in that region.
Restraint: Lack of standardization in manufacturing technologies
The adoption of composites in consumer products, marine, and recreational goods is still hampered by non-recurring development and manufacturing expenses. The three key issues are maintenance technology, process standardization, and design consistency. In the automobile and aerospace industries, mass production and economic viability are hampered by manufacturers' preference for conservative designs due to the lack of standardized materials and procedures. Furthermore, the absence of standards pushes producers to stick with traditional goods rather than investigating composites for a range of uses. Additionally, a barrier to the wider adoption of composites is the lack of human resources with the necessary training and experience.
Opportunity: Rapid expansion in electric vehicles and battery applications
China is the major production hub for electric vehicles, and Japan and South Korea are technology frontrunners in batteries. This represents a significant opportunity for composite material in light weight body, battery casing, heat management and structural reinforcement parts. As producers move to make electric vehicles more fuel efficient and safer, the need for composites that offer lightweighting, strength and fire resistance is also growing. The governments' push towards EV adoption augments the opportunity for composite suppliers.
Challenge: Increasing environmental regulations & composite waste management issues
The Asian Pacific region is rapidly tightening its environmental and industrial waste regulations, particularly in terms of composite material waste from wind turbine blades, automotive parts, and industrial manufacturing equipment. The technology for recycling composites remains relatively immature, and the disposal of carbon fiber-reinforced composites presents both environmental, financial, and logistical challenges. China has increased its environmentally-focused policies to the extent that OEM manufacturers are facing increasing pressure to establish their own facilities that provide recycling services, and to undertake the development of facilities that manufacture low-emission products, particularly given the increasing emphasis placed on Circular Economy principles in Japan and South Korea. The cost implications of meeting compliance requirements, as well as the slower adoption of recycling in specific applications, will create obstacles to the expansion of the Asian Pacific composites market.
asia-pacific-composites-market: COMMERCIAL USE CASES ACROSS INDUSTRIES
| COMPANY | USE CASE DESCRIPTION | BENEFITS |
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Use of carbon-fiber-reinforced polymers (CFRP) and glass-fiber composites in vehicle body panels, interior structural reinforcements, EV battery enclosures, and aerodynamic components; Toyota deploys advanced composites in hybrid and electric cars to achieve weight reduction and higher fuel efficiency while meeting stringent safety standards. | Improves vehicle range and fuel economy through lightweighting; enhances crash safety due to high-impact strength; supports thermal stability for EV batteries; reduces manufacturing cycle time with advanced molding processes |
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Application of composites in electronics casings, foldable device hinges, semiconductor equipment housings, and lightweight structural components; High-performance composites improve durability and shock resistance for premium consumer devices. | Enhances product durability while reducing weight; supports miniaturization and sleek device design; improves heat dissipation; increases structural integrity for high-tech manufacturing systems |
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Extensive use of glass-fiber composites and carbon composites in wind turbine blades, transmission structures, cable trays, and renewable installations; Composites enable long-span blades and corrosion-resistant structures for harsh environmental conditions. | Improves turbine efficiency and lifespan; reduces maintenance costs; ensures reliable performance in coastal and high-humidity climates; supports renewable energy expansion targets in India and broader APAC |
Logos and trademarks shown above are the property of their respective owners. Their use here is for informational and illustrative purposes only.
MARKET ECOSYSTEM
The Asia Pacific composites market ecosystem consists of raw material suppliers (BASF SE, Hexion, Huntsman, The Dow), composites intermediates (Toray, SGL Group, Gurit, etc.), and end users (BMW, Audi, Airbus, GE Wind, Boeing). Raw material suppliers provide essential materials to composite manufacturers. Intermediates establish contact between manufacturing companies and end users to streamline the supply chain, increasing operational efficiency and profitability.
Logos and trademarks shown above are the property of their respective owners. Their use here is for informational and illustrative purposes only.
MARKET SEGMENTS
Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis
Asia Pacific Composites Market, By Fiber Type
Based on fiber type, the Asia Pacific composites market is segmented into glass, carbon, natural, and others. In terms of value, glass fiber type dominated the market. Glass fiber offers remarkable qualities such as strength, flexibility, stability, durability, and resistance to heat, temperature fluctuations, and moisture. It offers affordability, mass-production viability, and has significant demand in a variety of industries, including infrastructure, sporting goods, wind energy, and construction. Glass fiber composites are used in underbody systems, deck lids, front-end modules, bumper beams, engine covers, instrument panels, and air ducts, among other components, in the transportation sector.
Asia Pacific Composites Market, By Resin Type
The Asia Pacific composites market is segmented based on resin type into thermoset and thermoplastic . Thermoset resins have been the industry leader in the resin type category in the Asia Pacific region. Composites are manufactured using a variety of thermoset polymer matrices, such as vinyl esters, polyester, and epoxy. Thermoset composites with high toughness, impact strength, and moisture resistance are produced by fibers inserted in a matrix of thermoset resins. These composites are widely used in many different industries, including infrastructure, electronics, pipes & tanks, transportation, and construction. They are also extensively used in wind energy, marine, construction & infrastructure, transportation, sporting products, and a number of other end-use industries. Specifically, thermoset composites do not expand much in hot, humid settings, which makes them appropriate for applications where corrosive environments and high temperatures are present.
Asia Pacific Composites Market, By Manufacturing Process
There is a notable increase in demand for the filament winding process in the composites manufacturing industry of Asia Pacific. This method, which is well known for its efficiency and versatility, involves applying continuous fibers, like carbon or glass, in a predefined pattern, onto a revolving mandrel. The resulting composite structures exhibit exceptional strength-to-weight ratios, corrosion resistance, and long-lasting durability, making them highly suitable for a wide range of applications in different industries. One of the main reasons for the high demand for filament winding is its wide usage in aerospace, automotive, marine, and energy sectors. Filament-wound tanks and pressure vessels are becoming more and more popular in the automotive industry for uses such as fuel storage and hydrogen fuel cell technology, which improves fuel economy and environmental sustainability. Furthermore, filament-wound composite pipes and tanks are essential components of solar panel structures and wind turbine blades in the field of renewable energy, helping to efficiently generate and store clean energy. The filament winding industry's growth trajectory is further supported by ongoing advancements in automation, robotics, and material innovations, which provide producers with increased efficiency, precision, and scalability.
Asia Pacific Composites Market, By End-use Industry
The wind energy sector is forecasted to experience the second-highest CAGR over the next five years in the Asia Pacific composites market. Composite materials, known for their remarkable tensile strength, play a crucial role in constructing wind turbines, facilitating the production of large blades and increased energy output. Approximately 70–75% of the weight of wind blades consists of fiber reinforcement, typically combined with epoxy or unsaturated polymer resins. Fiberglass, renowned for its robust tensile strength, aids manufacturers in achieving larger blades and maximizing energy production. Moreover, fiberglass enhances the wind energy industry's resilience by enabling turbines to operate effectively in harsh environments, thanks to its corrosion-resistant properties.
REGION
Asia Pacific to be fastest-growing region in global fire-resistant glass market during forecast period
With significant producers of glass fiber and carbon fiber in China and Japan, as well as emerging economies in India and China, the Asia Pacific region has the lion's share of the global composites market. Notably, the region is seeing tremendous expansion in the wind energy sector, which is a major user of composites. Additionally, the Asia Pacific region is seeing a noticeable growth in the transportation industry, which is another significant consumer of composites. This growth is driven by OEMs placing a greater emphasis on the manufacture of electric vehicles. All of these elements work together to fuel the region's growing need for composites.
asia-pacific-composites-market: COMPANY EVALUATION MATRIX
In the Asia Pacific composites market matrix, Toray Industries, Inc. (Japan) leads due to its robust market share and expansive product range, leveraging its established global presence and consistently strong record in delivering advanced materials across multiple applications. Jilin Chemical Fiber Group Co., Ltd. (Emerging Leader) is increasingly gaining market momentum through strategic regional initiatives and innovative product developments.
Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis
KEY MARKET PLAYERS
- Toray Industries, Inc. (Japan)
- Mitsubishi Chemical Holdings Corporation (Japan)
- Teijin Limited (Japan)
- Nippon Electric Glass Co., Ltd. (Japan)
- SGL Carbon (Germany)
- Gurit Holding AG (Switzerland)
- China Jushi Co., Ltd. (China)
- Taishan Fiberglass Inc. (China)
- Chongqing Polycomp International Corp. (China)
- Owens Corning (US)
- Solvay S.A. (Belgium)
- Huntsman International LLC (US)
- Weyerhaeuser (US)
MARKET SCOPE
| REPORT METRIC | DETAILS |
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| Market Size in 2025 (Value) | USD 48.27 Billion |
| Market Forecast in 2030 (Value) | 83.78 Billion |
| Growth Rate | CAGR of 11.6% from 2025-2030 |
| Years Considered | 2023-2028 |
| Base Year | 2024 |
| Forecast Period | 2025-2030 |
| Units Considered | Value (USD Billion), Volume (Kiloton) |
| Report Coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments Covered | By Fiber Type: Glass Fiber Composites, Carbon Fiber Composites, Natural Fiber Composites I By Resin Type: Thermoset Composites, Thermoplastic Composites I By End-use Industry: Aerospace & Defense, Wind Energy, Automotive & Transportation, Construction & Infrastructure, Marine, Pipe, Tanks & Pressure Vessels, Electrical & Electronics I By Manufacturing Process: Layup, Filament Winding, Injection Molding, Pultrusion, Compression Molding, RTM |
| Countries Covered | China, Japan, India, South Korea, Rest of Asia Pacific |
WHAT IS IN IT FOR YOU: asia-pacific-composites-market REPORT CONTENT GUIDE
DELIVERED CUSTOMIZATIONS
We have successfully delivered the following deep-dive customizations:
| CLIENT REQUEST | CUSTOMIZATION DELIVERED | VALUE ADDS |
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| Raw Material Suppliers (Resins, fibers, additives, prepregs) |
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| Composite Part Manufacturers / Molders (FRP molders, pultruders, filament winders, compression molders) |
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| OEMs in Automotive, Wind, Construction, Aerospace & Marine |
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| Distributors & Converters (Regional resin/fiber distributors, sheet molding compound suppliers, intermediaries) |
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RECENT DEVELOPMENTS
- February 2022 : Hexcel introduced a new product line that combines Hexcel resin systems with bio-derived resin content and natural fiber reinforcements to create material solutions for automotive, winter sports, marine, and wind energy applications. HexPly Nature Range resins include tried-and-true resins such as HexPly M49, M78.1-LT, and M79, but with bio-derived epoxy resin content.
- February 2022 : Teijin Limited announced the release of a lightweight, strong, and cost-effective carbon fiber woven fabric created using the company’s proprietary tow-spreading technology. The new woven fabric is made with 3K (3,000) carbon fiber filament yarn for automotive interior materials and sports goods that require low weight and design flexibility.
- October 2022 : Toray Advanced Composites strengthened its commercial partnership with Specialty Materials. This partnership enables engineers to easily control and manage key variables for unique solution innovations using high-quality domestically produced products in the US supply chain.
Table of Contents
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Methodology
The study involved two major activities in estimating the current size of the Asia Pacific Composites market. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both the top-down and bottom-up approaches were employed to estimate the total market size. After that, market breakdown and data triangulation procedures were used to determine the extent of market segments and sub-segments.
Secondary Research
Secondary sources referred to for this research study include financial statements of companies offering Asia Pacific Composites and information from various trade, business, and professional associations. Secondary research has been used to obtain critical information about the industry’s value chain, the total pool of key players, market classification, and segmentation according to industry trends to the bottom-most level and regional markets. The secondary data was collected and analyzed to arrive at the overall size of the Asia Pacific Composites market, which was validated by primary respondents.
Primary Research
Extensive primary research was conducted after obtaining information regarding the Asia Pacific Composites market scenario through secondary research. Several primary interviews were conducted with market experts from both the demand and supply sides across major countries of North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America. Primary data was collected through questionnaires, emails, and telephonic interviews. The primary sources from the supply side included various industry experts, such as Chief X Officers (CXOs), Vice Presidents (VPs), Directors from business development, marketing, product development/innovation teams, and related key executives from Asia Pacific Composites industry vendors; system integrators; component providers; distributors; and key opinion leaders. Primary interviews were conducted to gather insights such as market statistics, data on revenue collected from the products and services, market breakdowns, market size estimations, market forecasting, and data triangulation. Primary research also helped in understanding the various trends related to technology, application, vertical, and region. Stakeholders from the demand side, such as CIOs, CTOs, CSOs, and installation teams of the customer/end users who are using the Asia Pacific Composites, were interviewed to understand the buyer’s perspective on the suppliers, products, component providers, and their current usage of Asia Pacific Composites and future outlook of their business which will affect the overall market.
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Market Size Estimation:
The research methodology used to estimate the size of the Asia Pacific Composites market includes the following details. The market sizing of the market was undertaken from the demand side. The market was upsized based on procurements and modernizations of Asia Pacific Composites in different applications at a regional level. Such procurements provide information on the demand aspects of the Asia Pacific Composites industry for each application. For each application, all possible segments of the Asia Pacific Composites market were integrated and mapped.
Data Triangulation
After arriving at the overall Asia Pacific Composites market size using the market size estimation processes as explained above, the market was split into several segments and sub-segments. To complete the whole market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides, mainly from the automotive & transportation, wind energy, aerospace & defense, construction & infrastructure end-use industries. Along with this, the market size was validated using both the top-down and bottom-up approaches.
Market Definition
Asia Pacific Composites are materials that are created by combining two or more different constituents with different physical or chemical qualities to produce a new material with improved properties. These components usually consist of a matrix material (such as a polymer, metal, or ceramic) embedded with a reinforcement material (such as fibers or particles). The matrix material keeps the reinforcement in place and shields it from the elements, while the reinforcement material gives strength, stiffness, and other mechanical qualities. Asia Pacific Composites have many benefits, such as a high strength-to-weight ratio, resistance to corrosion, durability, and flexibility in design, which makes them ideal for a variety of uses in a wide range of industries, including renewable energy, aerospace, automotive, and construction.
Key Stakeholders
- Asia Pacific Composites manufacturers and distributors
- Key application segments for Asia Pacific Composites
- Research and consulting firms
- R&D institutions
- Associations and government institutions
- Environmental support agencies
Report Objectives
- To analyze and forecast the size of the Asia Pacific Composites market, in terms of value and volume
- To provide detailed information about the key factors (drivers, restraints, opportunities, and challenges) influencing the growth of the market
- To analyze and forecast the market based on resin type, fiber type, manufacturing process, and end-use industry
- To analyze and project the market based on five regions, namely, Europe, North America, Asia Pacific (APAC), the Middle East & Africa (MEA), and Latin America
- To strategically analyze the micro markets concerning individual growth trends, prospects, and their contribution to the overall market
- To analyze the opportunities in the market for stakeholders and provide a competitive landscape for market leaders
- To strategically profile the key players and comprehensively analyze their market shares and core competencies
Available Customizations
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The following customization options are available for the report:
Product Analysis
- Product matrix, which gives a detailed comparison of the product portfolio of each company
Regional Analysis
- Further breakdown of Rest of Asia Pacific Asia Pacific Composites market
- Further breakdown of Rest of Europe Asia Pacific Composites market
- Further breakdown of Rest of Middle East & Africa Asia Pacific Composites market
- Further breakdown of Rest of Latin American composites market
Company Information
- Detailed analysis and profiling of additional market players (up to 10)
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Growth opportunities and latent adjacency in Asia Pacific Composites Market