Austin, Aug. 14, 2025 (GLOBE NEWSWIRE) -- According to SNS Insider, the Fiber Reinforced Polymer Composites Market was valued at USD 92.72 billion in 2024 and is projected to reach USD 153.01 billion by 2032, expanding at a CAGR of 6.47% during 2025–2032. The United States, the powerhouse of North America’s FRP sector, generated USD 21.92 billion in 2024 and is forecast to hit USD 35.85 billion by 2032, maintaining its 71% share of regional composites production. This growth is fueled by the material’s unmatched strength-to-weight ratio, corrosion resistance, and adaptability for sustainable infrastructure and high-performance engineering applications.
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Market Overview
Fiber Reinforced Polymer Composites—engineered by embedding high-strength fibers (such as carbon, glass, or aramid) within a polymer matrix—are increasingly displacing traditional materials like steel and aluminum. Their unique combination of lightweight structure, high tensile strength, and corrosion resistance is revolutionizing sectors including aerospace, automotive, construction, renewable energy, and marine industries.
In the U.S., surging investments in infrastructure modernization, EV lightweighting initiatives, and renewable energy projects (notably wind turbine blades) are accelerating adoption. Globally, heightened focus on fuel efficiency, emission reduction, and product durability is boosting FRP demand in both developed and emerging markets.
Major Players Analysis Listed in this Report are:
- Hexcel Corporation
- SGL Carbon SE
- TPI Composites Inc.
- Toray Advanced Composites
- Gurit Holding AG
- Owens Corning
- Mitsubishi Chemical Advanced Materials
- Teijin Composite Materials
- Huntsman Corporation
- Solvay Composite Materials
Fiber Reinforced Polymer Composites Market Report Scope
| Report Attributes | Details |
| Market Size in 2024 | USD 92.72 billion |
| Market Size by 2032 | USD 153.01 billion |
| CAGR | CAGR of 6.47% From 2025 to 2032 |
| Base Year | 2024 |
| Forecast Period | 2025-2032 |
| Historical Data | 2021-2023 |
| Regional Analysis | North America (US, Canada, Mexico), Europe (Germany, France, UK, Italy, Spain, Poland, Turkey, Rest of Europe), Asia Pacific (China, India, Japan, South Korea, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
Segment Analysis
By Product
Glass fiber composites accounted for the major share in the 2024 market of fiber reinforced polymer composites with 47.8% primarily due to their good performance, cost-effectiveness and versatility. Glass fibers are widely used for various applications in the wide range of industries due to its high tensile strength, moderate price and good durability when compared to other fibers such as carbon fiber.
By Resin Type
The market was led by thermoset resins, which held a prominent 61.2% share because of their advanced mechanical properties and high level of chemical resistance and thermal stability, making them ideal for use in fiber-reinforced polymer composites. Epoxy, polyester, and vinyl ester resins are among those that cure when exposed to the right amount of ultraviolet light, resulting in a cross-linked, three-dimensional polymer network that offers excellent stiffness and mechanical durability critical for high-end applications.
By Application
In 2024, the automotive segment accounted for a major share of 31.5% in the fiber-reinforced polymer composites market, driven by the growing emphasis of the automobile industry on vehicle lightweighting to improve fuel efficiency and reduce emissions. FRP composites are automakers' efforts to reduce overall vehicle weight without affecting safety and performance. These FRP composites are used for both structural and non-structural components, including body panels, bumpers, etc.
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Fiber Reinforced Polymer Composites Market Segmentation
By Product
- Glass
- Carbon
- Basalt
- Aramid
By Resin Type
- Thermoset
- Thermoplastic
By Application
- Automotive
- Construction
- Electronic
- Defense
- Others
Regional Analysis
North America accounted for the major share in the fiber reinforced polymer composites market in 2024, with 33.2% ascribed to strong industrial infrastructure and high-end-use industries' presence, such as aerospace, automotive, and construction. Both the U.S. as well as Canada have established manufacturing sinews to nurture innovation and adoption of these advanced composite materials. Moreover, the high cost of R&D and government-led light-weighting initiatives to enhance fuel efficiency & reduce emissions have catalyzed the need for FRP composites.
Recent Developments
- In March 2025, Hexcel Corporation announced a strategic partnership with a major aerospace manufacturer to develop next-generation carbon fiber composites with enhanced durability and recyclability.
- In December 2024, Owens Corning expanded its manufacturing capacity in India to meet the growing demand from the construction and infrastructure sectors.
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Unique Selling Points (USPs) of Fiber Reinforced Polymer Composites Market
- Exceptional Strength-to-Weight Ratio -FRP composites provide high tensile strength with significantly less weight in comparison to metal, enhancing performance and better fuel efficiency of transportation.
- Stainless Steel Is More Corrosion and Chemical Resistant -These composites are resistant to severe environmental conditions, which makes them suitable for marine, chemical processing, and infrastructure applications.
- Design Flexibility and Customizability -There is vast potential for complex architecture since the FRPs can be shaped as demanded; hence, it facilitates creative aerospace and automotive designing.
- Greater Durability And Longer Life -The materials have very good fatigue resistance and abrasion protection, resulting in lower maintenance costs and distribution value for end-users.
- Sustainability and Energy Efficiency -The presence of lightweight composites also reduces energy consumption and lowers levels of emissions, in line with global sustainability targets.
- Growing Utilization of Renewable Energy -The rising renewable energy market has been prompting the usage of FRP composites for wind turbine blades and solar panel structures.
- Cost-Effectiveness Over Lifecycle -Whereas FRP composites have higher costs at the start, weight loss, decreased maintenance, and longer service intervals lead to better cost savings.
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