Fiber Reinforced Polymer Composites Market
Fiber Reinforced Polymer Composites Market Forecasts to 2032 – Global Analysis By Fiber Type (Glass Fiber-Reinforced Polymer (GFRP), Carbon Fiber-Reinforced Polymer (CFRP) Aramid Fiber-Reinforced Polymer, Basalt Fiber-Reinforced Polymer and Other Fiber Types), Resin Type, Reinforcement Form, Manufacturing Process, Application and By Geography
According to Stratistics MRC, the Global Fiber Reinforced Polymer Composites Market is accounted for $280.3 billion in 2025 and is expected to reach $483.5 billion by 2032 growing at a CAGR of 8.1% during the forecast period. Fiber reinforced polymer composites are advanced materials composed of a polymer matrix strengthened by embedded high-strength fibers. These materials combine the properties of both components: the polymer matrix provides durability and environmental resistance, while the fibers, such as carbon, glass, or aramid, carry the load and provide exceptional strength and stiffness. This synergy results in a lightweight yet robust material widely used in aerospace, automotive, and construction industries for structural applications.
According to Boeing's commercial market projection for 2022–2041, new aircraft deliveries will be worth USD 7.2 trillion in 2022–2041, and the world fleet would grow by 80% over that time.
Market Dynamics:
Driver:
Advanced fiber tech improvements
The Fiber Reinforced Polymer (FRP) Composites market is being propelled by continuous advancements in fiber technology, particularly in glass, carbon, and aramid fibers. These innovations are enhancing tensile strength, fatigue resistance, and durability, thereby expanding applicability across aerospace, automotive, and construction sectors. Furthermore, advancements in hybrid fiber systems and nanofiber-reinforced matrices are improving structural performance. Fueled by growing demand for lightweight yet high-performance materials, these technological developments are accelerating FRP integration into critical end-use industries.
Restraint:
Recycling & disposal challenges
The market faces considerable headwinds due to the complexities involved in recycling and disposing of thermoset-based FRP composites. These materials, while highly durable, are non-biodegradable and difficult to reprocess, leading to environmental accumulation. Existing recycling infrastructure is insufficient for handling composite waste efficiently, further exacerbating the issue. Additionally, stringent environmental regulations and growing scrutiny over end-of-life management are creating compliance burdens. These factors collectively hinder large-scale adoption, especially in environmentally regulated markets.
Opportunity:
Development of eco-friendly bio-based FRP composites
Emerging innovations in bio-based and recyclable FRP composites present lucrative opportunities for market expansion. Spurred by environmental mandates and green building certifications, manufacturers are investing in natural fiber reinforcements such as flax, hemp, and jute. These bio-composites offer comparable mechanical properties while significantly reducing carbon footprints. Moreover, advancements in biodegradable resin systems are enabling fully compostable alternatives. As sustainability becomes a market differentiator, eco-friendly FRP composites are poised to capture demand across construction and transportation sectors.
Threat:
Slow adoption in price-sensitive markets
A major threat to FRP composite market growth stems from slow penetration in cost-sensitive regions. High initial costs associated with FRP fabrication, tooling, and installation often deter adoption, especially when traditional materials like steel or aluminum offer short-term cost benefits. Moreover, limited awareness of long-term lifecycle benefits and lack of skilled labor further inhibit deployment. This reluctance is particularly pronounced in small to mid-sized enterprises and developing economies, posing challenges to market scalability.
Covid-19 Impact:
The COVID-19 pandemic disrupted the global FRP composites supply chain, affecting raw material availability and delaying manufacturing operations across key industries. Construction and automotive sectors experienced a temporary halt, reducing short-term demand. However, the crisis also highlighted the need for resilient, lightweight materials in medical and infrastructure applications. As industries recover, demand is gradually rebounding, with renewed focus on local sourcing, digital fabrication, and sustainable product innovation accelerating the post-pandemic growth trajectory of FRP composites.
The glass fiber-reinforced polymer (GFRP) segment is expected to be the largest during the forecast period
The glass fiber-reinforced polymer (GFRP) segment is expected to account for the largest market share during the forecast period, owing to its cost-effectiveness, high strength-to-weight ratio, and wide availability. GFRP's compatibility with various resin systems makes it suitable for automotive panels, wind turbine blades, and civil infrastructure reinforcements. Its superior corrosion resistance and low maintenance requirements further contribute to widespread adoption. Spurred by strong demand in construction and electrical industries, GFRP remains the material of choice in fiber-reinforced composite applications.
The thermoset segment is expected to have the highest CAGR during the forecast period
Over the forecast period, the thermoset segment is predicted to witness the highest growth rate impelled by, its superior structural properties and heat resistance. Thermoset resins like epoxy, polyester, and vinyl ester enable durable bonding with fiber reinforcements, making them ideal for aerospace, marine, and industrial uses. Their excellent chemical resistance and dimensional stability under extreme conditions further enhance their value proposition. The segment's growth is bolstered by increased R&D in faster-curing and recyclable thermoset systems.
Region with largest share:
During the forecast period, the Asia Pacific region is expected to hold the largest market share, driven by rapid infrastructure development, automotive production, and wind energy investments in China, India, and Southeast Asia. Government initiatives supporting lightweight material use in transportation and rising demand for corrosion-resistant construction materials are boosting regional consumption. Additionally, the presence of low-cost manufacturing hubs and a growing export base contribute to Asia Pacific’s dominant position in the global FRP composites landscape.
Region with highest CAGR:
Over the forecast period, the North America region is anticipated to exhibit the highest CAGR attributed to, increased adoption of advanced composites in aerospace, defense, and electric vehicles. The region’s robust innovation ecosystem, supported by R&D funding and strategic collaborations, is accelerating the development of high-performance FRP materials. Moreover, stringent energy-efficiency standards and the transition to green infrastructure are fueling demand for lightweight, sustainable solutions. This growth trajectory is further reinforced by the revival of domestic manufacturing post-pandemic.
Key players in the market
Some of the key players in Fiber Reinforced Polymer Composites Market include American Fiberglass Rebar, American Grating, LLC, Engineered Composites Ltd, B&B FRP Manufacturing INC., TUF-BAR, FRP Composites Inc., Ten Cate NV, Zoltek Companies, Inc., Hyosung Corporation, Mitsubishi Rayon Co., Ltd., SGL Group, DowAksa, BASF Corporation, Westlake Chemical, AOC Resins, Solvay, Hexcel Corporation, and Owens Corning.
Key Developments:
In June 2025, American Fiberglass Rebar expanded its manufacturing capacity for corrosion-resistant fiberglass rebar used in infrastructure projects. The company introduced new continuous pultrusion lines enabling higher-volume production with improved mechanical properties, targeting bridge and marine construction sectors with enhanced durability.
In January 2025, Ten Cate introduced nano-enhanced carbon fiber composites in January 2025, offering improved tensile strength and fatigue resistance. The products target aerospace and premium automotive markets requiring extreme performance materials.
In January 2025, Zoltek announced advancements in cost-effective carbon fiber production with improved processing efficiencies, enabling greater adoption in infrastructure reinforcement and commercial vehicle manufacturing.
Fiber Types Covered:
• Glass Fiber-Reinforced Polymer (GFRP)
• Carbon Fiber-Reinforced Polymer (CFRP)
• Aramid Fiber-Reinforced Polymer
• Basalt Fiber-Reinforced Polymer
• Other Fiber Types
Resin Types Covered:
• Thermoset
• Thermoplastic
Reinforcement Forms Covered:
• Rovings
• Woven Fabrics & Mats
• Chopped Strands
• Prepreg
• SMC & BMC
• Other Reinforcement Forms
Manufacturing Processes Covered:
• Lay-up
• Filament Winding
• Pultrusion
• Injection Molding
• Compression Molding
• Resin Transfer Molding (RTM)
• Autoclave Processing
• Other Manufacturing Processes
Applications Covered:
• Building & Construction
• Automotive
• Electrical & Electronics
• Aerospace & Defense
• Sporting Goods
• Wind Energy
• Other Applications
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2024, 2025, 2026, 2028, and 2032
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Fiber Reinforced Polymer Composites Market, By Fiber Type
5.1 Introduction
5.2 Glass Fiber-Reinforced Polymer (GFRP)
5.2.1 E-Glass Fiber
5.2.2 S-Glass Fiber
5.3 Carbon Fiber-Reinforced Polymer (CFRP)
5.3.1 High-Strength Carbon Fiber
5.3.2 High-Modulus Carbon Fiber
5.4 Aramid Fiber-Reinforced Polymer
5.4.1 Para-Aramid
5.4.2 Meta-Aramid
5.5 Basalt Fiber-Reinforced Polymer
5.6 Other Fiber Types
6 Global Fiber Reinforced Polymer Composites Market, By Resin Type
6.1 Introduction
6.2 Thermoset
6.3 Thermoplastic
7 Global Fiber Reinforced Polymer Composites Market, By Reinforcement Form
7.1 Introduction
7.2 Rovings
7.3 Woven Fabrics & Mats
7.4 Chopped Strands
7.5 Prepreg
7.6 SMC & BMC
7.7 Other Reinforcement Forms
8 Global Fiber Reinforced Polymer Composites Market, By Manufacturing Process
8.1 Introduction
8.2 Lay-up
8.3 Filament Winding
8.4 Pultrusion
8.5 Injection Molding
8.6 Compression Molding
8.7 Resin Transfer Molding (RTM)
8.8 Autoclave Processing
8.9 Other Processes
9 Global Fiber Reinforced Polymer Composites Market, By Application
9.1 Introduction
9.2 Building & Construction
9.3 Automotive
9.4 Electrical & Electronics
9.5 Aerospace & Defense
9.6 Sporting Goods
9.7 Wind Energy
9.8 Other Applications
10 Global Fiber Reinforced Polymer Composites Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 American Fiberglass Rebar
12.2 American Grating, LLC
12.3 Engineered Composites Ltd
12.4 B&B FRP Manufacturing INC.
12.5 TUF-BAR
12.6 FRP Composites Inc.
12.7 Ten Cate NV
12.8 Zoltek Companies, Inc.
12.9 Hyosung Corporation
12.10 Mitsubishi Rayon Co., Ltd.
12.11 SGL Group
12.12 DowAksa
12.13 BASF Corporation
12.14 Westlake Chemical
12.15 AOC Resins
12.16 Solvay
12.17 Hexcel Corporation
12.18 Owens Corning
List of Tables
1 Global Fiber Reinforced Polymer Composites Market Outlook, By Region (2024-2032) ($MN)
2 Global Fiber Reinforced Polymer Composites Market Outlook, By Fiber Type (2024-2032) ($MN)
3 Global Fiber Reinforced Polymer Composites Market Outlook, By Glass Fiber-Reinforced Polymer (GFRP) (2024-2032) ($MN)
4 Global Fiber Reinforced Polymer Composites Market Outlook, By E-Glass Fiber (2024-2032) ($MN)
5 Global Fiber Reinforced Polymer Composites Market Outlook, By S-Glass Fiber (2024-2032) ($MN)
6 Global Fiber Reinforced Polymer Composites Market Outlook, By Carbon Fiber-Reinforced Polymer (CFRP) (2024-2032) ($MN)
7 Global Fiber Reinforced Polymer Composites Market Outlook, By High-Strength Carbon Fiber (2024-2032) ($MN)
8 Global Fiber Reinforced Polymer Composites Market Outlook, By High-Modulus Carbon Fiber (2024-2032) ($MN)
9 Global Fiber Reinforced Polymer Composites Market Outlook, By Aramid Fiber-Reinforced Polymer (2024-2032) ($MN)
10 Global Fiber Reinforced Polymer Composites Market Outlook, By Para-Aramid (2024-2032) ($MN)
11 Global Fiber Reinforced Polymer Composites Market Outlook, By Meta-Aramid (2024-2032) ($MN)
12 Global Fiber Reinforced Polymer Composites Market Outlook, By Basalt Fiber-Reinforced Polymer (2024-2032) ($MN)
13 Global Fiber Reinforced Polymer Composites Market Outlook, By Other Fiber Types (2024-2032) ($MN)
14 Global Fiber Reinforced Polymer Composites Market Outlook, By Resin Type (2024-2032) ($MN)
15 Global Fiber Reinforced Polymer Composites Market Outlook, By Thermoset (2024-2032) ($MN)
16 Global Fiber Reinforced Polymer Composites Market Outlook, By Thermoplastic (2024-2032) ($MN)
17 Global Fiber Reinforced Polymer Composites Market Outlook, By Reinforcement Form (2024-2032) ($MN)
18 Global Fiber Reinforced Polymer Composites Market Outlook, By Rovings (2024-2032) ($MN)
19 Global Fiber Reinforced Polymer Composites Market Outlook, By Woven Fabrics & Mats (2024-2032) ($MN)
20 Global Fiber Reinforced Polymer Composites Market Outlook, By Chopped Strands (2024-2032) ($MN)
21 Global Fiber Reinforced Polymer Composites Market Outlook, By Prepreg (2024-2032) ($MN)
22 Global Fiber Reinforced Polymer Composites Market Outlook, By SMC & BMC (2024-2032) ($MN)
23 Global Fiber Reinforced Polymer Composites Market Outlook, By Other Reinforcement Forms (2024-2032) ($MN)
24 Global Fiber Reinforced Polymer Composites Market Outlook, By Manufacturing Process (2024-2032) ($MN)
25 Global Fiber Reinforced Polymer Composites Market Outlook, By Lay-up (2024-2032) ($MN)
26 Global Fiber Reinforced Polymer Composites Market Outlook, By Filament Winding (2024-2032) ($MN)
27 Global Fiber Reinforced Polymer Composites Market Outlook, By Pultrusion (2024-2032) ($MN)
28 Global Fiber Reinforced Polymer Composites Market Outlook, By Injection Molding (2024-2032) ($MN)
29 Global Fiber Reinforced Polymer Composites Market Outlook, By Compression Molding (2024-2032) ($MN)
30 Global Fiber Reinforced Polymer Composites Market Outlook, By Resin Transfer Molding (RTM) (2024-2032) ($MN)
31 Global Fiber Reinforced Polymer Composites Market Outlook, By Autoclave Processing (2024-2032) ($MN)
32 Global Fiber Reinforced Polymer Composites Market Outlook, By Other Processes (2024-2032) ($MN)
33 Global Fiber Reinforced Polymer Composites Market Outlook, By Application (2024-2032) ($MN)
34 Global Fiber Reinforced Polymer Composites Market Outlook, By Building & Construction (2024-2032) ($MN)
35 Global Fiber Reinforced Polymer Composites Market Outlook, By Automotive (2024-2032) ($MN)
36 Global Fiber Reinforced Polymer Composites Market Outlook, By Electrical & Electronics (2024-2032) ($MN)
37 Global Fiber Reinforced Polymer Composites Market Outlook, By Aerospace & Defense (2024-2032) ($MN)
38 Global Fiber Reinforced Polymer Composites Market Outlook, By Sporting Goods (2024-2032) ($MN)
39 Global Fiber Reinforced Polymer Composites Market Outlook, By Wind Energy (2024-2032) ($MN)
40 Global Fiber Reinforced Polymer Composites Market Outlook, By Other Applications (2024-2032) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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