Global Aerospace Composites Market Demand & Forecast Analysis, 2016-2036

Composites are materials made from two or more different materials, such as polymers, fibers, or other materials. When combined, they become much stronger than the individual materials like polymers or fibers. These materials come together to produce improved traits and enhanced properties, such as strength, efficiency, and durability, without compromising their individual characteristics. Composites are also known as Fiber-Reinforced Polymers (FRP) composites and find extensive use in the aerospace industry due to their numerous advantages.

Composite materials were initially used in non-safety-critical applications within the aerospace industry. They were later adopted for making structural exterior parts like fuselage and wing structures. The pioneering companies in employing composites for exterior applications were Boeing, Airbus, and Bombardier. The aerospace composite market is poised for significant growth, driven by demand across the entire spectrum of the aerospace industry. Major advancements and developments are anticipated in technology and product design as the aerospace industry transitions from metal to composites. Increased consumption of composites for fuel efficiency is expected to drive growth in the aerospace industry.

In the aerospace industry, two major groups of polymer resins are employed: thermosets and thermoplastics. The primary function of polymer resins is to bond the fibers together, serving as a type of adhesive. They facilitate stress transfer between reinforcing carbon fibers, natural fibers, and glass fibers while protecting them from mechanical and environmental damage. The majority of composites are constructed using thermoset resins, which solidify through cross-linking or polymerization during the part production process. Once cured, thermosetting resins cannot be reverted to their original form. Common thermoset polymers include polyester, vinyl ester, epoxy, and polyurethane.

In the aircraft industry, composite materials are extensively utilized to reduce fuel consumption, enhance efficiency, and lower direct operating costs. Carbon fiber, glass fiber, and Aramid are some of the different fibers employed in aerospace applications. Glass fibers are the most widely used composite material, consisting of glass fibers embedded in a resin matrix. Carbon fiber composites are predominantly used for exterior aircraft applications. They offer advantages such as lightweight construction, increased fuel efficiency, superior performance, easy maintenance, and reduced part counts.
Global Aerospace Composites Demand By Type - 2026-2032 (Kilo Tons)
Global Aerospace Composites Demand By Type - 2022 (Kilo Tons)

Source: Secondary & Primary Research and Prismane Consulting estimates

Composites are gradually replacing metals and engineering plastics in various applications. In the aerospace industry, composites are employed in exterior, interior, and other components, especially those requiring high-temperature resistance and resistance to corrosive chemicals, solvents, and oil. The shift from metals to plastics and composites in response to higher operating temperatures and engine compartment miniaturization leads to benefits like weight reduction, noise reduction, and functional integration. The aerospace industry presents a wide array of opportunities for aerospace composites.

The growth opportunities for composites in the aerospace industry are closely tied to the industry s goals of reducing emissions and improving fuel efficiency. Aerospace composites offer the option of replacing metals with composites to reduce aircraft weight, ultimately achieving fuel efficiency. Different types of aerospace composites, including glass fiber composites, carbon fiber composites, and aramid fiber composites, are expected to be used in various aerospace applications, driving demand.

Utilizing composites not only reduces component weight but also accelerates product manufacturing, as plastics and other raw materials are easily molded, saving time and energy. Aerospace composites offer reliable toughness and outstanding impact performance, making them excellent substitutes for metal components. Not only the use of composites helps achieve weight reduction of components but it also lowers the manufacturing time for products as plastics and other raw materials are easily moulded, thereby saving time and energy. Aerospace composites provide reliable toughness, and outstanding impact performance making it one of the best substitutes for its metal counterparts. 
  • Replacing traditional materials with new lightweight, high-strength composite materials is an effective path toward meeting the industry’s goal of increasing fuel efficiency, decreasing emissions, and reducing material usage.
  • Incorporating lightweight materials into the manufacturing process allows manufacturers to reduce weight while enabling new functionalities and innovations.
  • Energy costs have become an important portion of operating costs and will drive the need for more fuel-efficient aircraft. This concludes that more in-service aircraft will get decommissioned earlier than planned and will push the need for new engines and designs of aircrafts.
Unexplored opportunities of replacing metals in Aerospace applications such as interior, exterior, and structural as well as for other applications are expected to drive the Aerospace market. The global tightening of environmental regulations for automobiles to improve fuel mileage, control emission and reduce fuel permeation is expected to increase the demand for Aerospace composites.
Aerospace Composites Demand By Region - 2022 (Kilo Tons)
Aerospace Composites Demand By Region - 2022 (Kilo Tons)

Source: Secondary & Primary Research and Prismane Consulting estimates

In 2022, North America was estimated to be the biggest aerospace composites market with a consumption of over 20 kilo tons accounting for more than 40% of the global aerospace composites demand on the back of major Aerospace and military aircrafts manufacturing companies in the region. Composites are used in these aircrafts in their exterior, interior and critical engine parts. Like other industries including automotive and chemicals, the region has not witnessed any significant shift be of composite manufacturers and aerospace industry base to Asia-Pacific.

North America is poised to grow at a CAGR of 4% in the long-term forecast till 2032. USA is the largest consumer of aerospace composites in the worlds and the country is expected to witness significant growth during the forecast period. The already pre-booked orders by countries including India and China for Boeing, Airbus, GE and other players to meet the global demand will push the demand growth upwards in the region. At the same time there are several new players in the carbon fiber production plants and the players are expected to increase their production to keep in pace the growing demand from the aircraft and aircraft part manufactures.
Global Aerospace Composites Demand By Application - 2016-2032 (Kilo Tons)
Aerospace Composites Demand By Application

Source: Secondary & Primary Research and Prismane Consulting estimates

In North America, the USA is the largest Aerospace composites market accounting for more than 75% of the regional Aerospace composites demand following by Mexico and Canada. The USA aerospace industry is one of the biggest in the world, on an average it account for 50% of the global aerospace production. It is the world’s leading innovator and producer of technologically advanced aircraft, space, and defence systems.

Aerospace composites demand in the country is likely to grow at an average between 3.8% to 4.0% till 2032; with some announced investments in the aerospace sector and recovery in the oil & gas sector for polymer production pushing the demand.. A number of Aerospace manufacturers have already announced their projects while other players are still doing a feasibility check for setting up Aerospace plants in the region.

In terms of demand by fiber type, the carbon fiber Aerospace composites account for more than 70% followed by glass fiber composites with an estimated share of around 20% and aramid fiber composites for remaining share of the total Aerospace composites market. The carbon fiber composites demand is expected to witness the highest growth during the forecast period mainly on the back of its properties and expectation of some decline in prices of the carbon fibers. In 2022, Aerospace composites end-use for exterior applications constituted the largest demand accounting for more than 45% of the total Aerospace composites demand while Interior applications accounted for about 40%. Interior and exterior applications are project to grow at an annual average of 3.6% and 4.0% respectively during the forecast period. 

Scope of Report 

The Aerospace Composites report describes the global Aerospace Composites market, with focus on the country, applications and other end-use scenarios. The study provides

Market Data & Forecast (Short-term and Long-term)
•  Demand Analysis
•  Demand Composition, by Fiber Types, Resin Types and Applications
•  Sales & Revenue
•  Pricing Analysis
•  Market Dynamics

Country Summaries & Product Review
•  Demand Balance 
•  Aerospace Composites Market data in terms of volume and value for each end-use 
   at regional and country level
•  Aerospace Composites Market analysis for demand, at regional and country level
•  Historical, Current & Market Forecast
•  Macro-economic factors like GDP, Population and World Economic integration
•  Economic & Energy Outlook
•  Industry & Policy Developments 
•  End-use Industry / Applications Market 
•  Reasoning & Analysis
•  Insightful Commentary
•  Market Review
•  Comparative Analysis
•  Latest Trends and market developments
•  Key players
•  Strategic Issues and Recommendations
•  Business Opportunity Assessment

1.  Introduction
      •  Scope
      •  Market Coverage
          -  Fiber Type
          -  Resin Type
          -  Application
          -  Regions
          -  Countries
      •  Years Considered
          -  Historical - 2016 – 2022
          -  Base - 2023
          -  Forecast Period - 2024 – 2036
      •  Research Methodology
          -  Approach
          -  Research Methodology
          -  Prismane Consulting Market Models
          -  Assumptions & Limitations
          -  Abbreviations & Definitions
          -  Conversion Factors
          -  Data Sources
2.  Market Synopsis 
      •  Market Evolution
      •  Demand Overview
      •  Industry Structure
      •  Strategic Issues
      •  End-use Trends
      •  Growth Forecast
3.  Economic & Energy Outlook
      •  GDP and Demographics
      •  Monetary & Fiscal Policies
      •  Crude Oil Production and prices
      •  Natural Gas
      •  Electricity Prices
4.  End-use Sector Performance
      • Aerospace & Defense
5.  Introduction to Aerospace Composites and Market Overview 
      •  Product Description
      •  Grades & Properties
      •  Raw Material
      •  Manufacturing Process
      •  Environmental Issues
      •  Value Chain
      •  Applications
6.  Market Dynamics and Industry Trends 
      •  Market Dynamics and COVID-19 Impact
          -  Drivers
          -  Restraints
          -  Opportunities
          -  Challenges
7.  Global Aerospace Composites Demand Analysis, By Fiber Type, By Resin Type, By Application (Volume, Value) (2016–2036)
      •  Strategic Issues and COVID-19 Impact
      •  Demand Analysis and Forecast (2016 – 2036)
          -  Demand
          -  Demand Growth Rate (%)
          -  Driving Force Analysis
      •  Global Aerospace Composites Market, By Fiber Type
          -  Glass Fiber
          -  Carbon Fiber 
          -  Aramid Fiber 
      •  Global Aerospace Composites Market, By Resin Type
          -  Thermoset
          -  Thermoplastic 
      •  Global Aerospace Composites Market, By Application
          -  Interior Components
          -  Exterior Components
          -  Others
8.  Demand Analysis and Market Review, By Region, By Country (Volume, Value), (2016– 2036)
      •  Strategic Issues and COVID-19 Impact
      •  Demand Analysis and Forecast (2016-2036)
      •  Demand Growth Rate (%)
      •  Aerospace Composites Market, By Fiber Type
      •  Aerospace Composites Market, By Resin Type
      •  Aerospace Composites Market, By Application
Note: Demand Analysis has been provided for all major Regions / Countries as mentioned below. The demand(consumption) split by fiber type, by resin type, by applications has been provided for each of the countries/regions in Volume (Kilotons) and Value (USD Million).
      •  North America
         -  USA
         -  Canada
         -  Mexico
      •  Western Europe
         -  Germany
         -  France
         -  Italy
         -  United Kingdom
         -  Spain
         -  Rest of Western Europe
      •  Central & Eastern Europe
         -  Russia
         -  Poland
         -  Rest of Central & Eastern Europe
      •  Asia-Pacific
         -  China
         -  Japan
         -  India
         -  South Korea
         -  ASEAN
         -  Rest of Asia-Pacific
      •  Central & South America
      •  Middle East & Africa
Note: CAGR will be calculated for all the resin type, fiber type, and application to arrive at the regional/global demand growth for the forecast period (2024 – 2036)
9.  Pricing Analysis
10.  Key Strategic Issues and Business Opportunity Assessment 
      •  Market Attractiveness Assessment
      •  Prospective & Target Market Study
11.  Strategic Recommendation & Suggestions
12.  Company Analysis and Market Share Analysis
      •  Aerospace Composites Manufacturers Profiles/ Company Analysis
         -  Basic Details
         - Headquarters, Key Markets
         -  Ownership
         -  Company Financial
         -  Manufacturing Bases
         -  Global Turnover
         -  Total Employee
         -  Product Portfolio / Services / Solutions
         -  Key Business Strategies adopted and Prismane Consulting Overview
         -  Recent Developments
         -  Companies Covered
             - Owen Corning
             - Solvay
             - Hexcel Corporation
             - Teijin Limited
             - Mitsubishi Chemical Carbon Fiber and Composites
             - Toray Industries
             - SGL Carbon
             - Other Manufacturers
Note: This section includes company information, company financials, manufacturing bases, and operating regions. Company financials have been mentioned only for those companies where financials were available in SEC Filings, annual reports, or company websites. All the reported financials in this report are in U.S. Dollars. Financials reported in other currencies have been converted using average currency conversion rates. Company profiles may include manufacturers, suppliers, and distributors.
13.  Appendices
      •  Demand- Regions
      •  Demand– Countries

Scope of Report 

The Aerospace Composites report describes the global Aerospace Composites market, with focus on the country, applications and other end-use scenarios. The study provides

Market Data & Forecast (Short-term and Long-term)
•  Demand Analysis
•  Demand Composition, by Fiber Types, Resin Types and Applications
•  Sales & Revenue
•  Pricing Analysis
•  Market Dynamics

Country Summaries & Product Review
•  Demand Balance 
•  Aerospace Composites Market data in terms of volume and value for each end-use 
   at regional and country level
•  Aerospace Composites Market analysis for demand, at regional and country level
•  Historical, Current & Market Forecast
•  Macro-economic factors like GDP, Population and World Economic integration
•  Economic & Energy Outlook
•  Industry & Policy Developments 
•  End-use Industry / Applications Market 
•  Reasoning & Analysis
•  Insightful Commentary
•  Market Review
•  Comparative Analysis
•  Latest Trends and market developments
•  Key players
•  Strategic Issues and Recommendations
•  Business Opportunity Assessment