Transportation Composites Market Size Growth - By Resin (Thermoset, Thermoplastic), By Manufacturing Process (Compression Molding, Injection Molding, Resin Transfer Molding, Others), By Fiber (Glass, Carbon, Natural), By Transportation Type (Airways, Railways, Waterways, Roadways), By Application (Interior, Exterior, Others), and By Region: Statistics Reports, Supply & Demand Analysis, Global Opportunity 2025-2032

Global Market Synopsis, Forecast, Trend, and Growth Up To 2032

The Transportation Composites Market size was valued at US$ 51.64 Bn in 2025, it is estimated to grow at a CAGR of 46.63% from 2025 to 2032 and reach US$ 119.39 Bn by the end of 2032. The increasing advancements in railway networks across the globe is also seeing an increased demand in the transportation composites industry.

Market Insights

The transportation composites market has grown multi-fold with growth in manufacturing industries. This industry is largely associated with the designing, manufacturing, and supplying of composite material in transportation. This industry also uses separate types of resins utilized in composite material manufacture, mostly of thermoset and thermoplastic resins.

Composite material manufacturing involves several manufacturing processes, including compression molding, injection molding, resin transfer molding, etc. Besides carbon and glass, there are other types of fibers used to prepare composite material, such as natural fiber, for instance.The composite materials are used in the construction of interior as well as exterior automobile components. It is used on various transportation sections comprising of rail ways, roadways, water ways, and air ways.

This sector will experience exponential growth with increasing transportation sectors.

Transportation Composites Market Growth Factors

• The growth in automobile industrial progress will boost the transportation composites market.
• An improved manufacturing sector due to government initiatives has boosted the growth of the market.
• The demand to use fiberglass in building car hoods and doors has increased and thus contributed to growing the market.
• Public and private investments to develop industries associated with transportation composites industries have driven increased market growth.
• Improvement in the development process of compression molding has enhanced the growth of the market to some extent.
• The rapid composite production development globally will boost the market growth.
• The growing requirements for commercial vehicles boost the market growth.
• The current state of infrastructures regarding roadways and waterways in the world have positively impacted the transportation composites market growth.

Top Key Players

Some of the major players functioning in the transportation composites industry include:

• Toray Industries Inc.
• Solvay S.A
• SGL Group
• Teijin Limited
• Royal DSM
• Owens Corning
• Mitsubishi Chemical Holdings Corporation
• Jushi Group
• Hexcel Corporation
• Gurit Holding AG.

Segment Analysis

Resin Segment

In 2024, the thermoset segment held the largest market share and is expected to do so over the entire forecast period. Growth in this segment is generally driven by the emerging application fields of thermoset resin composites, among others, within various sectors such as robotics, biomedical, construction, and infrastructure.

Furthermore, the rising demand for thermoset composites due to its cross-linking property, resistance to high temperature, and better dimensional stability normally serves to promote market growth. Another factor that would contribute to the growth of the transportation composites market is the increasing demand for polyvinyl chloride and PET in transportation composites.

Manufacturing Process Segment

The compression molding segment dominated the market in 2023. Growth in this segment usually accelerates with increasing usage of composite materials in transportation. Growth of the market is also attributed to the rising use of compression molding for the production of complex shape composite materials. Additionally, it is the cheapest manufacturing process among all those processes used in the production of composite materials, hence driving the transportation composites market growth.

Fiber Segment

During 2019, the carbon fiber segment accounted for the largest share of the transportation composites market and is expected to dominate the same in the forecast period. The increasing demand for lightweight vehicles globally contributes to this segment growth. Moreover, a rise in the application of carbon fiber as a primary raw material for the production of advanced composite materials fuels the market growth. Also, the government agencies of spacecraft and aircraft like the U.S.

Air Force and NASA, are also utilizing carbon fiber to achieve maximum performance, which in turn is expected to boost the growth of transportation composites market. Moreover, carbon fibers' properties such as long service life, corrosion resistance, lightweight, superior abrasion and wear resistance, and some others are poised to fuel market growth.

Market Scope

Market Dynamics

Driver

Growing electric vehicle demand

In the recent past, adoption of EVs has improved as people are getting more mindful of reducing emissions. Also, most governments around the world are initiating campaigns for the adoption of EVs as well as increasing development in EV infrastructure around the world. Moreover, growing developments in private and semi-public EV charging coupled with escalating gasoline prices have also boosted the demand for EVs.

As a result, growth in the requirement for EVs is promising and increasing the demand for transportation composite materials since these composite materials are used in varied applications in EVs like weight reduction, better braking battery efficiency, and acceleration. Also, some companies have developed light weight composite material components for EVs, which in turn is expected to drive transportation composites market growth.

Restraint

Non-biodegradable and unavailability of raw materials

Transportation composites have in recent times received very high attention. Although there are numerous applications for composite materials, yet there are a number of problems associated with them. Firstly, most composite materials are non-biodegradable in nature and do not undergo any recycling.

Further, this industry faces problems on account of shortage of raw materials along with high prices associated with it. Thus, the non-recyclability of composite materials and unavailability of raw materials may restrain the growth in the transportation composites market.

Opportunities

Growing number of racing events around the globe

The people of all the continents have shown great interest in car and bike racing. The major organizations, such as Formula 1, Nascar, Motorsport Australia, IMSA, and others, are conducting car racing events to gain popularity among the viewers. With the rising pace of racing events, the demand for racing cars has also increased in a rapid fashion.

For this superior performance, these racing cars are engineered using composite materials. Therefore, the growing demand for racing cars is expected to provide ample growth opportunities for players operating in the transportation composites market during the next few years.

Regional Outlook

Asia Pacific had the biggest market share in 2024 and is expected to be the same for all of the forecast period. The growth in this region mainly results from rising government initiatives undertaken in countries such as India, China, South Korea, Japan, and others in order to enhance the chemical sector. Growth in the railway sector along with the established waterways existing in India and China is driving the market. The increasing advancement of science and technology as well as easy availability of raw materials are likely to enhance the growth of the market.

Europe is expected to grow at the fastest rate during the forecast period. This segment is highly driven by the growing demand for electric vehicles in this region. In June 2024, Hyundai launched a new IONIQ model in Europe. IONIQ is a high-end electric car, offering a drive range of almost 630 km on one charge.

Other than this, increased investments by public and private sector organizations into developing the automobile sector are boosting the market growth forward. Well-established aerospace and automotive industries located in Germany and France increase in popularity, and therefore increases demand for composites, further driving market growth.

Recent Developments

• February 2024: Hexcel launched HexTow IM9 24K. HexTow IM9 24K is a lightweight composite material solution for aerospace industry.
• In March 2023, SGL Carbon released a new material portfolio. In the portfolio, a new product, SIGRAFIL 50k, can be used for varied industrial applications.
• In August 2022, Pultron Composites partnered with Owens Corning to manufacture fiberglass rebar.
• In April 2022, Gurit increased its share to 60% in Fiberline Composites for manufacturing glass fibers and pultruded carbon.

Segments Covered in the Report

By Resin

• Thermoset
• Thermoplastic

By Manufacturing Process

• Compression Molding
• Injection Molding
• Resin Transfer Molding
• Others

By Fiber

• Glass
• Carbon
• Natural

By Transportation Type

• Airways
• Railways
• Waterways
• Roadways

By Application

• Interior
• Exterior
• Others

By Geography

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East & Africa