Polymer Matrix Composites Market Report 2026

The polymer matrix composites market size has grown strongly in recent years. It will grow from $19.93 billion in 2025 to $21.73 billion in 2026 at a compound annual growth rate (CAGR) of 9.1%. The growth in the historic period can be attributed to aerospace fuel efficiency requirements, military equipment modernization, composite material innovation, demand for corrosion resistant materials, early adoption in sporting goods.

The polymer matrix composites market size is expected to see strong growth in the next few years. It will grow to $30.6 billion in 2030 at a compound annual growth rate (CAGR) of 8.9%. The growth in the forecast period can be attributed to electric vehicle platform expansion, urban air mobility development, renewable energy structures growth, recycling of composite materials, advanced resin system development. Major trends in the forecast period include growing demand for lightweight structural materials, increased use in aerospace and defense applications, expansion of carbon and glass fiber composites, rising adoption in automotive lightweighting, focus on high strength and fatigue resistance.

The growth of the aerospace industry is expected to drive the expansion of the polymer matrix composites market going forward. The aerospace sector encompasses the development, production, and maintenance of aircraft, spacecraft, and related systems and equipment. Its growth is fueled by technological advancements, rising demand for air travel and satellite services, and innovations in manufacturing and materials. Polymer matrix composites contribute to the aerospace industry by offering lightweight, high-strength materials that improve fuel efficiency, enhance performance, and enable the construction of complex, durable aerospace structures. For example, in January 2024, according to Airbus SE, a Netherlands-based aerospace manufacturer and service provider, the company delivered 735 commercial aircraft to 87 customers worldwide in 2023, representing an 11% increase compared with 2022. Therefore, the expansion of the aerospace industry is supporting the growth of the polymer matrix composites market.

Major companies in the polymer matrix composites market are focusing on advanced solutions, such as high-PCR PP composites, to improve material sustainability, stiffness, and impact performance for interior applications. High-PCR PP composites are polymer formulations incorporating a substantial proportion of post-consumer recycled polypropylene (PCR) while maintaining mechanical properties comparable to virgin polymers, meeting circular-economy and regulatory requirements. For instance, in June 2024, Borealis, an Austria-based chemical company, launched Borcycle GD3600SY, a composite combining 65% PCR polypropylene with 30% glass fibers. This material offers high stiffness and impact performance suitable for demanding automotive interior components. Its first application is in centre-console carriers for the Peugeot 3008, marking the first series production use of a 65%-PCR PP composite in a large automotive interior part.

In September 2023, Michelin, a French tire manufacturer, acquired Flex Composite Group for €700 million ($778.15 million). This acquisition aims to establish Michelin as a leader in high-tech engineered fabrics and films, significantly boost its high-tech materials activities, and support its Michelin in Motion 2030 strategy. Flex Composite Group, also based in France, specializes in the production of fabrics and films, including those involving polymer composites.

Major companies operating in the polymer matrix composites market are Hexcel Corporation, Toray Industries Inc., Solvay S.A., Teijin Limited, SGL Carbon SE, Gurit Holding AG, Exel Composites Oyj, TPI Composites Inc., Plasan Carbon Composites, Owens Corning, Kordsa Teknik Tekstil AS, Enduro Composites Inc, Mitsubishi Chemical Corporation, DSM Composite Resins, Cytec Solvay Group, Huntsman Advanced Materials, Zoltek Companies, Inc., TenCate Advanced Composites, Park Electrochemical Corp., Composites Evolution Inc.

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

The polymer matrix composites market consists of sales of products including aerospace components, automotive parts, sporting goods, construction materials, and medical devices. 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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