Thermoplastic Composite Market Report 2026

The thermoplastic composite market size has grown strongly in recent years. It will grow from $21.55 billion in 2025 to $23.25 billion in 2026 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to increasing use of composites in transportation, growth of injection and compression molding techniques, rising demand for high-performance materials, expansion of aerospace composite applications, availability of advanced thermoplastic resins.

The thermoplastic composite market size is expected to see strong growth in the next few years. It will grow to $31.01 billion in 2030 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to increasing adoption in electric vehicles, rising demand for recyclable composite solutions, expansion of wind energy installations, growing use in aerospace structures, increasing investments in advanced composite manufacturing. Major trends in the forecast period include increasing adoption of lightweight composite materials, rising use of recyclable thermoplastic composites, growing demand for high-strength continuous fiber materials, expansion of rapid manufacturing processes, enhanced focus on design flexibility.

The rise in the construction industry is expected to drive the growth of the thermoplastic composites market. The construction sector involves planning, designing, and building structures such as buildings, infrastructure, and facilities. Thermoplastic composites are employed in construction for beams, columns, and panels to enhance structural integrity while reducing weight, facilitating easier transportation and assembly. For instance, in June 2023, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development, US-based government agencies, privately owned home starts in May 2023 occurred at a seasonally adjusted annual rate of 1,631,000, representing a 21.7% increase over the revised April 2023 estimate of 1,340,000 and a 5.7% rise from May 2022’s 1,543,000. Privately owned home completions in May 2023 reached 1,518,000, marking a 5% increase from May 2022 and a 9.5% rise over the revised April 2023 figure of 1,386,000. Therefore, the expansion of the construction industry is fueling growth in the thermoplastic composites market.

Key companies in the thermoplastic composites market are focusing on strategic partnerships to accelerate material innovation, enhance technological capabilities, and improve the performance and sustainability of next-generation composites. Strategic partnerships involve collaborations between companies to combine expertise, resources, and technologies for objectives such as advancing product development, optimizing manufacturing, and expanding applications across industries. For example, in January 2023, Sumika Polymer Compounds, a UK-based thermoplastics manufacturer, partnered with Hexagon’s Manufacturing Intelligence division, a Sweden-based provider of digital reality solutions, to digitize the performance of new sustainable automotive-grade polypropylene (PP) compounds. This collaboration enables engineers to design components that are more recyclable and have a lower carbon footprint for future vehicles.

In July 2024, TRANSTEX, a US-based provider of cleantech, emission-reducing transportation solutions, and trailer aerodynamic technologies, acquired US Liner Company for an undisclosed amount. The acquisition aims to expand TRANSTEX’s manufacturing capacity and secure a reliable supply of advanced thermoplastic composites, strengthening product development and supporting sustainable growth across its transportation-focused portfolio. US Liner Company, based in the US, manufactures fiber-reinforced thermoplastic composites, including glass-reinforced polypropylene materials used in transportation, recreational vehicles, and agricultural applications.

Major companies operating in the thermoplastic composite market are BASF SE, Avient Corporation, Celanese Corporation, Covestro AG, Koninklijke DSM N.V., Lanxess AG, Mitsubishi Chemical Corporation, Saudi Basic Industries Corporation, SGL Carbon SE, Solvay SA, Teijin Limited, Toray Industries Inc., 3B-The Fibreglass Company, Airborne International BV, Arkema SA, Dieffenbacher Group, Hexcel Corporation, Owens Corning, RTP Company, Techmer PM LLC, Tri-Mack Plastics Manufacturing Corporation, Victrex PLC, Web Industries Inc.

Asia-Pacific was the largest region in the thermoplastic composite market in 2025, and it is expected to be the fastest-growing region in the forecast period. The regions covered in the thermoplastic composite market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the thermoplastic composite market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The thermoplastic composite market consists of sales of thermoplastic composite components, including resin matrices, operational derivatives, and armatures. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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