Thermoplastic Composites Market 2030: A Green Solution for Construction

The global thermoplastic composites market was valued at USD 32.21 billion in 2021 and is projected to grow to USD 62.62 billion by 2030, registering a CAGR of 7.8% from 2022 to 2030. This growth is primarily attributed to the increasing use of thermoplastic composites across diverse end-use sectors, including aerospace and defense, transportation, construction, and electronics.

Market participants are actively expanding their product portfolios and investing in the development of new grades of thermoplastic composites, especially for aerospace applications, in response to rising demand. For example, in 2021, Solvay and Leonardo established a joint research facility to advance thermoplastic composite technologies tailored for the aerospace industry.

In the construction sector, thermoplastic composites are gaining traction due to their high strength, toughness, and recyclability. These materials are increasingly being used in residential infrastructure, public utilities, and other structural applications, benefiting from their durability and reusability.

In the United States, demand for thermoplastic composites is rising as a result of expanding aerospace and defense activities. The presence of major players such as The Boeing Company and various component fabricators, along with increasing investments in defense, is expected to boost market growth during the forecast period. In automotive manufacturing, thermoplastic composites are widely adopted for components such as under-hood systems, door modules, instrument panels, and front-end assemblies.

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Key Market Trends & Insights

• North America led the global market in 2021, accounting for a 29.00% revenue share, driven by robust R&D activities and the presence of technologically advanced economies like the U.S. and Canada. Growing interest in sustainable and recyclable composites is also contributing to regional growth.
• By resin type, the polyamide segment held the largest share of over 55.35% in 2021 and is expected to grow steadily. Its mechanical performance, chemical resistance, thermal stability, and abrasion resistance make it a preferred choice for many industrial applications.
• By fiber type, glass fiber composites dominated the market with 68.40% of the global revenue in 2021. These composites are used in applications ranging from wind turbines and aerospace to automotive and sports equipment, benefiting from their cost-effectiveness and ease of processing through methods like injection molding and plunger techniques.
• In terms of product, Short Fiber Thermoplastics (SFT) held the highest share at 81.35% in 2021. SFTs are favored for high-volume production needs, ease of recycling, and longer shelf life, making them suitable for various industrial uses.
• By end-use industry, the transportation sector led the market with a 28.75% revenue share in 2021. Thermoplastic composites are used to manufacture lightweight and high-strength components in vehicles such as cars, buses, trains, motorcycles, and trucks, offering a viable alternative to metal parts.

Market Size & Forecast

• 2021 Market Size: USD 32.21 Billion
• 2030 Projected Market Size: USD 62.62 Billion
• CAGR (2022-2030): 7.8%
• North America: Largest market in 2021
• Asia Pacific: Fastest growing market

Key Companies & Market Share Insights

Major players such as Hexcel Corporation and Solvay operate across multiple stages of the value chain, including raw material production (carbon fiber, glass fibers, polyamide, and PEEK) and composite manufacturing. This vertical integration allows them to maintain high product quality, manage supply chain risks, and offer customized solutions tailored to the needs of the automotive and aerospace sectors.

These companies also benefit from improved cost control and supply chain stability, helping them adapt quickly to fluctuations in raw material prices and global trade dynamics.

Key Players

• Hexcel Corp.
• Celanese Corp.
• Toray Advanced Composites
• Solvay
• LANXESS
• Avient Corp.
• SGL Carbon
• Mitsubishi Chemical Corp.
• Arkema
• AVANKO Group
• Teijin Ltd.
• Owens Corning
• DSM
• Cutting Dynamic, Inc.
• Tri-Mack Plastic Manufacturing Corp.

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Conclusion

The global thermoplastic composites market is set to experience strong and sustained growth through 2030, fueled by demand from industries seeking lightweight, durable, and recyclable materials. The aerospace, automotive, and construction sectors are key growth engines, with thermoplastic composites increasingly replacing traditional materials due to their performance advantages and eco-friendly attributes.

North America remains the leading market, supported by established infrastructure and innovation, while Asia Pacific is expected to witness the fastest growth, driven by industrial expansion and increasing investments in high-performance materials. As manufacturers continue to invest in technological advancements and strategic partnerships, the market is poised to meet evolving demands across global sectors.