Global Thermoplastic Composites Market Report and Forecast 2024-2032

Global Thermoplastic Composites Market Report and Forecast 2024-2032


Market Outlook

According to the report by Expert Market Research (EMR), the global thermoplastic composites market reached a value of USD 25.82 billion in 2023. Aided by the escalating demand across various industries for materials that combine light weight with high performance, the market is projected to further grow at a CAGR of 4.9% between 2024 and 2032 to reach a value of USD 39.77 billion by 2032.

Thermoplastic composites consist of a thermoplastic polymer matrix reinforced with fibres such as glass, carbon, or aramid, offering a unique blend of strength, durability, and recyclability. Unlike thermoset composites, thermoplastic composites can be remelted and reshaped, providing significant advantages in terms of manufacturing flexibility and end-of-life recyclability. These materials are increasingly sought after in sectors such as automotive, aerospace, construction, and consumer goods, where they contribute to energy efficiency, performance enhancement, and environmental sustainability.

The automotive industry is a primary driver of the thermoplastic composites market growth, as manufacturers strive to meet stringent fuel efficiency standards and reduce carbon emissions through lightweighting. Thermoplastic composites enable the production of lighter, stronger components that can significantly decrease vehicle weight, thereby improving fuel economy and reducing environmental impact. Similarly, in the aerospace sector, these materials are utilised to fabricate components that reduce the weight of aircraft, leading to enhanced fuel efficiency and lower operating costs.

The construction industry also influences the thermoplastic composites market outlook, where their resistance to corrosion, high strength-to-weight ratio, and ease of installation make them ideal for applications ranging from piping and facades to modular construction elements. Additionally, the growing focus on sustainability and circular economy principles is pushing the demand for recyclable and reusable materials, further propelling the adoption of thermoplastic composites.

According to the thermoplastic composites market analysis, technological advancements in the manufacturing processes and material formulations of thermoplastic composites are key factors contributing to the market's growth. Innovations in 3D printing, automation, and composite technology are making these materials more accessible and cost-effective for a broader range of applications. Moreover, the development of new thermoplastic resins and reinforcement fibres is expanding the performance capabilities of these composites, opening up new market opportunities.

Market Segmentation

The market can be divided based on resin type, fibre type, product, end use, and region.

Market Breakup by Resin Type
  • Polypropylene (PP)
  • Polyamide (PA)
  • Polyether Ether Ketone (PEEK)
  • Others
Market Breakup by Fibre Type
  • Glass Fibre
  • Carbon Fibre
  • Others
Market Breakup by Product
  • Glass Mat Thermoplastics (GMT)
  • Advanced Thermoplastic Composites (ATC)
Market Breakup by End Use
  • Automotive
  • Aerospace and Defence
  • Electrical and Electronics
  • Construction
  • Medical
  • Others
Market Breakup by Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global thermoplastic composites market. Some of the major players explored in the report by Expert Market Research are as follows:
  • Arkema S.A.
  • Solvay S.A.
  • SGL Carbon SE
  • Mitsubishi Chemical Group Corp.
  • Teijin Ltd.
  • Avient Corporation
  • Celanese Corporation
  • Toray Industries Inc.
  • Lanxess AG
  • Avanco GmbH
  • Others
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.


1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Thermoplastic Composites Market Analysis
8.1 Key Industry Highlights
8.2 Global Thermoplastic Composites Historical Market (2018-2023)
8.3 Global Thermoplastic Composites Market Forecast (2024-2032)
8.4 Global Thermoplastic Composites Market by Resin Type
8.4.1 Polypropylene (PP)
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Polyamide (PA)
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Polyether Ether Ketone (PEEK)
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Others
8.5 Global Thermoplastic Composites Market by Fibre Type
8.5.1 Glass Fibre
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Carbon Fibre
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Others
8.6 Global Thermoplastic Composites Market by Product
8.6.1 Glass Mat Thermoplastics (GMT)
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Advanced Thermoplastic Composites (ATC)
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.7 Global Thermoplastic Composites Market by End Use
8.7.1 Automotive
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Aerospace and Defence
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Electrical and Electronics
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Construction
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Medical
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
8.7.6 Others
8.8 Global Thermoplastic Composites Market by Region
8.8.1 North America
8.8.1.1 Historical Trend (2018-2023)
8.8.1.2 Forecast Trend (2024-2032)
8.8.2 Europe
8.8.2.1 Historical Trend (2018-2023)
8.8.2.2 Forecast Trend (2024-2032)
8.8.3 Asia Pacific
8.8.3.1 Historical Trend (2018-2023)
8.8.3.2 Forecast Trend (2024-2032)
8.8.4 Latin America
8.8.4.1 Historical Trend (2018-2023)
8.8.4.2 Forecast Trend (2024-2032)
8.8.5 Middle East and Africa
8.8.5.1 Historical Trend (2018-2023)
8.8.5.2 Forecast Trend (2024-2032)
9 North America Thermoplastic Composites Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Thermoplastic Composites Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Thermoplastic Composites Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Thermoplastic Composites Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Thermoplastic Composites Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Arkema S.A.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Solvay S.A.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 SGL Carbon SE
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Mitsubishi Chemical Group Corp.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Teijin Ltd.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Avient Corporation
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Celanese Corporation
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Toray Industries Inc.
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Lanxess AG
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Avanco GmbH
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Thermoplastic Composites Market: Key Industry Highlights, 2018 and 2032
2. Global Thermoplastic Composites Historical Market: Breakup by Resin Type (USD Billion), 2018-2023
3. Global Thermoplastic Composites Market Forecast: Breakup by Resin Type (USD Billion), 2024-2032
4. Global Thermoplastic Composites Historical Market: Breakup by Fibre Type (USD Billion), 2018-2023
5. Global Thermoplastic Composites Market Forecast: Breakup by Fibre Type (USD Billion), 2024-2032
6. Global Thermoplastic Composites Historical Market: Breakup by Product (USD Billion), 2018-2023
7. Global Thermoplastic Composites Market Forecast: Breakup by Product (USD Billion), 2024-2032
8. Global Thermoplastic Composites Historical Market: Breakup by End Use (USD Billion), 2018-2023
9. Global Thermoplastic Composites Market Forecast: Breakup by End Use (USD Billion), 2024-2032
10. Global Thermoplastic Composites Historical Market: Breakup by Region (USD Billion), 2018-2023
11. Global Thermoplastic Composites Market Forecast: Breakup by Region (USD Billion), 2024-2032
12. North America Thermoplastic Composites Historical Market: Breakup by Country (USD Billion), 2018-2023
13. North America Thermoplastic Composites Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Europe Thermoplastic Composites Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Europe Thermoplastic Composites Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Asia Pacific Thermoplastic Composites Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Asia Pacific Thermoplastic Composites Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Latin America Thermoplastic Composites Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Latin America Thermoplastic Composites Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Middle East and Africa Thermoplastic Composites Historical Market: Breakup by Country (USD Billion), 2018-2023
21. Middle East and Africa Thermoplastic Composites Market Forecast: Breakup by Country (USD Billion), 2024-2032
22. Global Thermoplastic Composites Market Structure

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