Reinforced Plastics Market Size and Share
| Study Period | 2019 - 2030 |
| Market Size (2025) | USD 5.63 Million |
| Market Size (2030) | USD 7.18 Million |
| CAGR (2025 - 2030) | 5.00% |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Reinforced Plastics Market Analysis by Mordor Intelligence
The Reinforced Plastics Market size is estimated at USD 5.63 million in 2025, and is expected to reach USD 7.18 million by 2030, at a CAGR of less than 5% during the forecast period (2025-2030).
The COVID-19 pandemic negatively affected the market for reinforced plastics. The nationwide lockdowns in several countries and the labour shortage due to social distancing measures had negatively resulted in the closure of manufacturing facilities of automotive vehicles, thereby affecting the market for reinforced plastics. However, post-COVID pandemic, the market recovered well due to increasing demand from the automotive, aerospace, defense, and construction industries.
- The growing demand from the aerospace industry and the rising demand for fuel-efficient and lightweight vehicles are expected to drive the market for reinforced plastics.
- The non-degradable nature of reinforced plastic is hindering market growth.
- The increasing demand for wind energy is expected to create opportunities for the market during the forecast period.
- The Asia-Pacific region is expected to dominate the market due to the rising demand for reinforced plastics from the construction, defense, and transportation industries.
Global Reinforced Plastics Market Trends and Insights
Automotive Segment Dominated the Market
- The automotive industry is a critical consumer of reinforced plastics globally. Reinforced plastics are widely used as metal substitutes in automobiles, trucks, etc.
- Additionally, increasing demand for lightweight materials and higher fracture points than traditional materials attracts automotive manufacturers toward reinforced plastics. Some of the areas of the application include engine components such as manifold, gas, clutch pedals, etc.
- The increase in the production volume of automotive vehicles is expected to drive the market for reinforced plastics. According to OICA (The Organisation Internationale des Constructeurs d'Automobiles), global automotive vehicle production reached 85.02 million in 2022, compared to 80.2 million manufactured in 2021, at a growth rate of 6%. China, the United States, and India are the most prominent automotive vehicle markets globally.
- The United States is the second-largest automotive market in the world after China, which occupies a significant share of the global automotive vehicles market. The United States is the headquarters for some global automotive vehicle manufacturers, exporting vehicles to countries such as Canada, Mexico, and South Korea. According to OICA, in 2022, the United States automotive vehicle production reached 10.06 million compared to 9.15 million units manufactured in 2021, at a growth rate of 9%. Thus, the rise in vehicle production will drive the current studied market.
- Furthermore, the automobile manufacturing industry in Germany is a prominent shareholder of the overall automotive production in the European region. The country hosts major car-making brands, including Volkswagen, Mercedes-Benz, Audi, BMW, Porsche, etc. According to OICA, the total production volume of cars and light commercial vehicles reached 3.67 million units in 2022, compared to 3.30 million units manufactured in 2021, at a growth rate of 11%.
- Additionally, the global electric vehicle market is expanding signifiantly, which is benefitting the market studied. For instance, in 2022, around 10.5 million units of battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs) were sold across the globe, witnessing a growth rate of 55% compared to 6.77 million units sold in the previous year.
- Hence, owing to the factors mentioned above, the automotive end-user industry is expected to dominate the market for reinforced plastics during the forecast period.
Asia-Pacific to Dominate the Market
- Asia-Pacific dominated the market and is expected to significantly increase over the forecast period. With the growing automotive, construction, energy, and aviation sectors in countries like China, India, Japan, and South Korea, the consumption of reinforced concrete is increasing.
- China is the largest automotive vehicle manufacturer in the region. According to OICA, automotive vehicle production in China reached a total of 27.02 million units in 2022, an increase of 3% over the previous year for the same period.
- Furthermore, China is the largest construction market in the world, encompassing 20% of all construction investments globally. China is expected to spend nearly USD 13 trillion on buildings and construction by 2030. This is anticipated to create a positive outlook for reinforced plastics in the country.
- The Indian government has been actively boosting housing construction to provide houses to about 1.3 billion people. The country is likely to witness around USD 1.3 trillion of investment in housing over the next seven years, to witness the construction of 60 million new houses in the country. The availability of affordable housing in the country is expected to increase by around 70% by 2024.
- Furthermore, in the Asia-Pacific region, including China, Southeast Asia, and South Asia, the aerospace market is expected to rise significantly, further supporting the demand for the market studied. According to the Boeing Commercial Outlook 2023-2042, around 8,560 new deliveries in China will be made by 2042, taking the total fleet to 9,590.
- Additionally, Boeing and Airbus are the most prominent civil aircraft manufacturers in China. To decrease the dominance of these companies, the Commercial Aviation Corp of China (COMAC) started to manufacture civil aircraft in the country. In September 2022, the company delivered its first homemade passenger jet in China. Furthermore, the annual production capacity of Commercial Aviation Corp of China (COMAC) is around 150 domestically produced C919 planes in five years. Thus, the increased aircraft production capacity will likely drive the demand for reinforced plastics in the country.
- Moreover, India’s aviation industry is expected to witness INR 35,000 crore (~USD 4.99 billion) investment in the next four years. India’s airline giant, Air India, in February 2023, placed one of the biggest orders for new aircraft in recent history. India’s oldest airline, now firmly under the ownership of the Tata Group, announced that it is purchasing 470 aircraft from airline manufacturers Airbus and Boeing. The combined value of the deals is estimated at some USD 80 billion.
- Due to all such factors, the market for reinforced plastics in the region is expected to grow during the forecast period.
Competitive Landscape
The reinforced plastics market is fragmented in nature. Some of the major players in the market (not in any particular order) include BASF SE, Celanese Corporation., Present Advanced Composites Inc., Solvay, and Toray Industries, Inc., among others.
Reinforced Plastics Industry Leaders
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BASF SE
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Celanese Corporation
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Present Advanced Composites Inc.
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Solvay
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Toray Industries, Inc
- *Disclaimer: Major Players sorted in no particular order
Recent Industry Developments
- March 2023: Cabot Corporation announced the launch of EVOLVE sustainable solutions, a new technology platform for advancing sustainable reinforcing carbons. These sustainable reinforcing carbons will provide reliable performance at the industrial level.
- April 2022: DowAksa, a joint venture of Dow and Aska, announced the launch of a new integrated carbon fiber composites production plant in Yalova, Turkey. The new production facility will help to increase the production capacity of carbon fiber composites in the country.
Global Reinforced Plastics Market Report Scope
Reinforced plastics are composite materials made by reinforcing plastics with different types of fibers. The fiber materials used in reinforcing plastics include carbon, metal, and non-metallic fiber. The reinforced plastic is widely used in the automotive and aerospace industries due to its unique properties, such as low weight.
The reinforced plastics market is segmented by type, end-user industry, and geography. By type, the market is segmented into glass fiber-reinforced plastics, carbon fiber-reinforced plastics, aramid fiber-reinforced plastics, and other types (wood fiber-reinforced plastics, asbestos fiber-reinforced plastics). By end-user Industries, the market is segmented into automotive, marine, aerospace and defense, energy and power, building and construction, and other end-user industries (electrical, chemicals, etc.). The report also covers the market size and forecasts for reinforced plastics in 15 countries across major regions. Each segment's market sizing and forecasts are based on value (USD).
| Glass Fiber Reinforced Plastics |
| Carbon Fiber Reinforced Plastics |
| Aramid Fiber Reinforced Plastics |
| Other Types (Wood Fiber Reinforced Plastics, Asbestos Fiber Reinforced Plastics) |
| Automotive |
| Marine |
| Aerospace and Defence |
| Energy and Power |
| Building and Construction |
| Other End-user Industries (Electrical, Chemicals, etc.) |
| Asia-Pacific | China |
| India | |
| Japan | |
| South Korea | |
| Rest of Asia-Pacific | |
| North America | United States |
| Canada | |
| Mexico | |
| Europe | Germany |
| United Kingdom | |
| Italy | |
| France | |
| Rest of Europe | |
| South America | Brazil |
| Argentina | |
| Rest of South America | |
| Middle East and Africa | Saudi Arabia |
| South Africa | |
| Rest of Middle East and Africa |
| Type | Glass Fiber Reinforced Plastics | |
| Carbon Fiber Reinforced Plastics | ||
| Aramid Fiber Reinforced Plastics | ||
| Other Types (Wood Fiber Reinforced Plastics, Asbestos Fiber Reinforced Plastics) | ||
| End-user Industry | Automotive | |
| Marine | ||
| Aerospace and Defence | ||
| Energy and Power | ||
| Building and Construction | ||
| Other End-user Industries (Electrical, Chemicals, etc.) | ||
| Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| North America | United States | |
| Canada | ||
| Mexico | ||
| Europe | Germany | |
| United Kingdom | ||
| Italy | ||
| France | ||
| Rest of Europe | ||
| South America | Brazil | |
| Argentina | ||
| Rest of South America | ||
| Middle East and Africa | Saudi Arabia | |
| South Africa | ||
| Rest of Middle East and Africa | ||
Key Questions Answered in the Report
How big is the Reinforced Plastics Market?
The Reinforced Plastics Market size is expected to reach USD 5.63 million in 2025 and grow at a CAGR of less than 5% to reach USD 7.18 million by 2030.
What is the current Reinforced Plastics Market size?
In 2025, the Reinforced Plastics Market size is expected to reach USD 5.63 million.
Who are the key players in Reinforced Plastics Market?
BASF SE, Celanese Corporation, Present Advanced Composites Inc., Solvay and Toray Industries, Inc are the major companies operating in the Reinforced Plastics Market.
Which is the fastest growing region in Reinforced Plastics Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).
Which region has the biggest share in Reinforced Plastics Market?
In 2025, the Asia Pacific accounts for the largest market share in Reinforced Plastics Market.
What years does this Reinforced Plastics Market cover, and what was the market size in 2024?
In 2024, the Reinforced Plastics Market size was estimated at USD 5.35 million. The report covers the Reinforced Plastics Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Reinforced Plastics Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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Reinforced Plastics Market Report
Statistics for the 2025 Reinforced Plastics market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Reinforced Plastics analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
