Polymer Matrix Composites Market Report 2025

This Polymer Matrix Composites market report delivers an in-depth analysis of the market’s key characteristics, including size, growth potential, and segmentation. It provides a detailed breakdown of the market across major regions and leading countries, highlighting historical data and future growth projections. The report also examines the competitive landscape, market share insights, emerging trends, and strategic developments shaping the market.

The polymer matrix composites market size has grown strongly in recent years. It will grow from $18.49 billion in 2024 to $20.29 billion in 2025 at a compound annual growth rate (CAGR) of 9.7%. The growth in the historic period can be attributed to increasing focus on fuel efficiency, increasing demand for electric vehicles (EVS), increasing interest in durable and low-maintenance construction, increasing consumer electronics and sports equipment, and increasing demand for advanced materials in defense applications.

The polymer matrix composites market size is expected to see strong growth in the next few years. It will grow to $29 billion in 2029 at a compound annual growth rate (CAGR) of 9.3%. The growth in the forecast period can be attributed to marine industry developments, globalization of industries, regulatory and safety standards, infrastructure modernization, and growth in educational programs. Major trends in the forecast period include enhanced simulation and modeling, development of advanced resin systems, advances in computational tools, incorporation of the internet of things (IoT), and dynamic load management.

The growth of the polymer matrix composites market is expected to be driven by the expansion of the aerospace industry. This sector, which focuses on the development, production, and maintenance of aircraft, spacecraft, and related systems and equipment, is experiencing growth due to technological advancements, increasing demand for air travel and satellite services, and innovations in manufacturing and materials. Polymer matrix composites are supporting this growth by providing lightweight, high-strength materials that enhance fuel efficiency, improve performance, and enable the creation of more complex and durable aerospace structures. For example, a report from the International Trade Administration in January 2022 indicated that local production in the Australian aerospace industry reached approximately $2.95 billion in 2023, marking a recovery from $1.92 billion in 2020. Thus, the rise of the aerospace industry is fueling the expansion of the polymer matrix composites market.

Major companies in the polymer matrix composites market are advancing their offerings by developing new solutions, such as short-glass fiber-filled polypropylene (PP) compounds, to enhance performance in automotive structural applications. These compounds consist of polypropylene plastic reinforced with short glass fibers. For example, in August 2022, Saudi Basic Industries Corporation (SABIC), a chemical manufacturing company based in Saudi Arabia, introduced the SABIC polypropylene (PP) compound G3430X with 30% short glass fiber and the SABIC PP compound G3440X with 40% short glass fiber. These compounds are designed for demanding automotive under-hood, exterior, and interior structural applications. They offer several benefits, including enhanced performance with superior mechanical properties, the ability to create thin-wall designs for lightweight structures, high melt flow for easier processing, an excellent balance of stiffness and impact resistance, cost-effective alternatives to long-glass fiber PP for low-temperature applications, and customizable color options to meet specific requirements.

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 Compagnie de Saint-Gobain S.A., Saudi Basic Industries Corporation (SABIC), 3M Company, Michelin Group, Safran S.A., Toray Industries Inc., Solvay S.A., Sika AG, Lanxess AG, Syensqo SA, Teijin Limited, AMETEK Inc., GKN Aerospace Services Limited, Avient Corporation, Kraton Corporation, SGL Carbon SE, Kordsa Teknik Tekstil AS, Gurit Holding AG, Enduro Composites Inc, IntechOpen Inc.

North America was the largest region in the polymer matrix composites market in 2024. 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, 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, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Polymer matrix composites (PMCs) are advanced materials made from a polymer resin matrix that is reinforced with fibers or other filler materials to improve their mechanical properties. These composites are employed in aerospace engineering to create lightweight, high-strength components that enhance aircraft fuel efficiency and performance.

The primary types of polymer matrix composites include polycarbonates, polypropylenes, polyamides, and acrylonitrile-butadiene styrenes. Polycarbonates are a high-performance plastic known for their durability, impact resistance, and optical clarity, making them suitable for various applications. Other products in this category include glass fiber-reinforced polymers, carbon fiber-reinforced polymers, aramid fiber composites, and natural fiber composites. These materials find use across diverse industries, such as aerospace, sporting equipment, automotive, defense, healthcare, construction, shipbuilding, electrical and electronics, and mechanical manufacturing.

The polymer matrix composites market research report is one of a series of new reports that provides polymer matrix composites market statistics, including polymer matrix composites industry global market size, regional shares, competitors with a polymer matrix composites market share, detailed polymer matrix composites market segments, market trends and opportunities, and any further data you may need to thrive in the polymer matrix composites industry. This polymer matrix composites market research report delivers a complete perspective on everything you need, with an in-depth analysis of the current and future scenarios of the industry.

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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