Rise in Sustainable Composites

Bio Based Composites - The global market for bio-based composite materials is expected to grow from $5.9 billion in 2023 to $9.0 billion by 2029, with a CAGR of 7.4% from 2024 to 2029, according to BCC Research.

Recycled carbon fiber - The global carbon fiber composites market is valued at USD 21.58 billion in 2023 and is projected to reach USD 37.41 billion by 2032, growing at a 6.3% CAGR. CFRP composites, combining carbon fibers with resin, are ideal for aerospace, automotive, and sports industries, offering high strength, fuel efficiency, and low maintenance.Plastics Engineering

Natural fiber composites - The demand for sustainable composite materials is growing by around 25%, fueled by the increased use of recycled fibers and bio-based resins in industries like automotive and construction.Global Growth Insights

Increased demand for lightweight and high-performance materials

The growing adoption of electric vehicles (EVs), powered by electricity stored in batteries or fuel cells is expected to drive the growth of the lightweight materials market.

High production cost of advanced composites

By 2025, the high production cost of advanced composites in the Middle East will be driven by expensive raw materials like carbon fiber, complex manufacturing processes, and limited local production capabilities, which result in reliance on imports and higher overall costs despite growing demand.

Expansion of advanced composites in renewable energy

The use of composite materials in renewable energy devices supports environmental protection and the transition to renewable energy, with the global market for composite materials in renewable energy expected to reach $20 billion by 2025, growing at a CAGR of 9% from 2020 to 2025.

Reusage of Composites
 

In 2025, the composite industry is expected to increase the reuse and recycling of advanced materials like carbon fiber and epoxy resins through a circular economy model, sustainable materials, and improved manufacturing processes.