Fiber Reinforced Composites Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The market is segmented by Fiber Type (Carbon Fibers, Fiberglass, Aramid Fibers, and Boron Fibers), Matrix (Polymer Matrix Composites, Metal Matrix Composites, Ceramic Composites, Carbon-Carbon Composites, and Hybrid Composites), End-user Industry (Building & Construction, Automotive, Electrical and Electronics, Aerospace & Defense, Sporting goods, Wind Energy, and Others), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East & Africa).

Market Snapshot

Fiber Reinforced Composites Market Overview
Study Period: 2016 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: >7 %
Fiber Reinforced Composites Market Key Players

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Market Overview

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.

Scope of the report

The Fiber Reinforced Composites market report includes: 

Fiber Type
Carbon Fibers
Aramid Fibers
Boron Fibers
Polymer Matrix Composites
Metal Matrix Composites
Ceramic Composites
Carbon-Carbon Composites
Hybrid Composites
End-user Industry
Building & Construction
Electrical & Electronics
Aerospace & Defense
Sporting goods
Wind Energy
South Korea
ASEAN Countries
Rest of Asia-Pacific
North America
United States
United Kingdom
Rest of Europe
South America
Rest of South America
Middle-East & Africa
Saudi Arabia
South Africa
Rest of Middle-East & Africa

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Key Market Trends

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.
Fiber Reinforced Composites Market Key Trends

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 Market Growth Rate

Competitive Landscape

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. 

Table of Contents


    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study




    1. 4.1 Drivers

      1. 4.1.1 High Strength to Weight Ratio, Corrosion Resistance, Moisture & Chemical Resistance of Fiber Reinforced Composites

      2. 4.1.2 Growing Demand from the Aerospace Industry

      3. 4.1.3 Other Drivers

    2. 4.2 Restraints

      1. 4.2.1 High Cost of Raw Materials

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value-chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition


    1. 5.1 Fiber Type

      1. 5.1.1 Carbon Fibers

      2. 5.1.2 Fiberglass

      3. 5.1.3 Aramid Fibers

      4. 5.1.4 Boron Fibers

    2. 5.2 Matrix

      1. 5.2.1 Polymer Matrix Composites

      2. 5.2.2 Metal Matrix Composites

      3. 5.2.3 Ceramic Composites

      4. 5.2.4 Carbon-Carbon Composites

      5. 5.2.5 Hybrid Composites

    3. 5.3 End-user Industry

      1. 5.3.1 Building & Construction

      2. 5.3.2 Automotive

      3. 5.3.3 Electrical & Electronics

      4. 5.3.4 Aerospace & Defense

      5. 5.3.5 Sporting goods

      6. 5.3.6 Wind Energy

      7. 5.3.7 Others

    4. 5.4 Geography

      1. 5.4.1 Asia-Pacific

        1. China

        2. India

        3. Japan

        4. South Korea

        5. ASEAN Countries

        6. Rest of Asia-Pacific

      2. 5.4.2 North America

        1. United States

        2. Canada

        3. Mexico

      3. 5.4.3 Europe

        1. Germany

        2. United Kingdom

        3. France

        4. Italy

        5. Rest of Europe

      4. 5.4.4 South America

        1. Brazil

        2. Argentina

        3. Rest of South America

      5. 5.4.5 Middle-East & Africa

        1. Saudi Arabia

        2. South Africa

        3. Rest of Middle-East & Africa


    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share/Ranking Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 TORAY INDUSTRIES, INC.

      2. 6.4.2 Hexcel Corporation

      3. 6.4.3 Solvay

      4. 6.4.4 SABIC

      5. 6.4.5 PolyOne Corporation

      6. 6.4.6 TPI Composites.

      7. 6.4.7 Plasan Carbon Composites

    5. *List Not Exhaustive

**Subject to Availability

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Frequently Asked Questions

The Fiber Reinforced Composites Market market is studied from 2016 - 2026.

The Fiber Reinforced Composites Market is growing at a CAGR of >7% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

TORAY INDUSTRIES, INC, Hexcel Corporation , Solvay, SABIC, PolyOne Corporation are the major companies operating in Fiber Reinforced Composites Market.

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