Fiber-reinforced plastic composite material made of polymer matrix reinforced with fibers
Market Overview
Valued for high strength-toweight ratio and durability
Applied in aerospace, automotive, electrical & electronics, and construction industries
Global market expected to grow at 10.80% CAGR (2023-2032)
Market Value & Growth Projections
Market Value & Growth Projections
Global market size (2023): USD 5,621 million
Projected market size (2032): USD 14,147.23 million
North American market size (2023): USD 1,748.40 million
Key Market Drivers:
Increasing demand for lightweight materials in automotive sector
Growing adoption in aerospace applications
Advancements in manufacturing technologies
Rising focus on sustainable materials
By Type
Key Market Players
Solvay DuPont
Regional Market Analysis
North America: Dominated by the United States with high demand in personal care and pharmaceutical sectors
Europe: Major contributors include Germany, UK, and France
Asia-Pacific: Led by China and India due to rising consumption in cosmetics, food, and industrial applications
Middle East & Africa: Steady growth from increasing industrial applications and expanding pharmaceutical industries
South & Central America: Brazil is a key player due to extensive biodiesel production and growing personal care markets
