Fiber Reinforced Polymer Composites Market, Demand, Production Capacity, Volume and Price Range and Industry Outlook Report Till 2034

Fiber Reinforced Polymer Composites Market Size, Share, Industry Report 2034

The global fiber reinforced polymer composites market size was valued at USD 104.19 billion in 2024 and is estimated to hit around USD 196.60 billion by 2034, growing at a compound annual growth rate (CAGR) of 6.55% during the forecast period 2025 to 2034. The increasing demand for lightweight and strong materials in manufacturing industries has fueled market growth in recent years. 

Key Takeaways 

• The U.S. fiber reinforced polymer composites industry is expected to grow from USD 27.34 billion in 2025 to USD 51.92 billion by 2034, at a CAGR of 7.30% during this period.
• North America fiber reinforced polymer composites market dominated the global market with a share of 37.16% in 2024, akin to the increasing need from sectors such as automotive, construction, and aerospace in the region.
• Asia Pacific is expected to grow at a notable rate in the future, owing to the transport network and construction sector growth for the future period.
• By type, the glass fiber reinforced polymer (GFRP) composites segment led the market share of 68.47% in 2024, akin to the increasing need for a cost-effective and lightweight material.
• By type, carbon fiber reinforced polymer (CFRP) composites segment is expected to grow at a CAGR of 6.6% during the forecast period, owing to its properties such as strength and lighter nature than glass fiber.
• By application, the automotive segment emerged as the leading application area in the fiber reinforced polymer composites market share of 41.32% in 2024 due to the growing demand for fuel-efficient vehicles.
• By application, the construction segment is expected to grow at a CAGR of 6.6% during the forecast period, akin to rapid infrastructure development.

Market Overview 

From Steel to Fiber: Industries Accelerate Adoption of Lightweight Composites  

The fiber reinforced polymer composites market is anticipated to experience rapid growth owing to the heavy industry application in the current period. Industries such as automotive, aerospace, construction, and the green energy sector are actively using this polymer heavily in recent years. Several industries are seen as preferring these fiber-reinforced composites over the traditional ones, like wood or steel. By reducing the weight of specific applications like building construction and vehicle development, this polymer emerges as an ideal solution in this sector while serving energy, as regions like the Asia Pacific and others are observed under the heavy usage of fiber reinforced polymer composite over the past few years.           

Which Factor is Driving the Growth of the Fiber Reinforced Polymer Composites Industry?

The increasing need for strong and lightweight materials in several fields is spearheading the fiber-reinforced polymer composite industry's growth in the current period. Moreover, these industries are using this polymer in their specific application, like aircraft and car development, having a lighter weight than metals with strong properties. FRP composites has gained major industry attention over the past period. Also, increasing green energy incentives across the globe are heavily contributing to the polymer composite industry, as this polymer is heavily used for electric vehicles by several automakers. Furthermore, industry, like transportation and others, is projected to play a major role in fiber reinforced polymer composites market development in the upcoming years.

Market Trends

• The enlarged expansion of the construction industry is majorly contributing to the fiber reinforced polymer composites market growth in the current period. Several developers are seen using this polymer in specific applications like pipelines, bridges, and others. Having unique properties such as anti-rust, long-lasting, and strength make this polymer composite an ideal material for this work.
• The sudden rise in renewable energy, specifically wind energy, has driven market growth in recent years. These polymer composites are seen in the heavy usage of the development of wind turbine blades in recent years. The specific characteristics, such as handling strong winds without breaking, and others, have made this polymer composite a crucial material over the past few years.
• The ongoing focus on sustainability and recycling initiatives is expected to revolutionize the fiber reinforced polymer composites market completely during the forecast period. Several companies are increasingly investing in research and development programs for sustainable material development. Also, several governments are observed to be providing attractive benefits to manufacturers who use eco-friendly materials in their production.

Report Scope

Market Opportunity

Infrastructure Boom Unlocks New Growth Channels for Polymer Composite Makers 
The ongoing expansion of infrastructure development is expected to create lucrative opportunities for fiber reinforced polymer composites market in the coming years. Moreover, the developing regions can severely contribute to this industry's growth in the upcoming period.

The manufacturers can gain a major market by providing these polymer composites in this region. Several global governments are increasingly investing in the improvement of public infrastructure with stronger material usage for long-lasting stability, as per the recent surveys. Furthermore, the increasing need for durable building materials can provide major attention to the polymer composites manufacturers in the future. 

Skilled Labor and Specialized Materials Add to Composite production Burden 

The higher production cost is expected to hinder the fiber reinforced polymer composites market growth during the forecast period. Moreover, the development of fiber-reinforced polymer composites needs specialized raw materials, a skilled workforce, and machines, which can be expensive sometimes.

This higher cost can create growth barriers for the new entrants and mid-size manufacturers in the upcoming years, as per the observation. Moreover, the recycling of FRP is another challenge for the producers, which can reduce the margin growth during the forecast period, as several governments are increasingly implementing sustainable policies in the current period. 

Regional Insights

The North America fiber reinforced polymer composites market size was valued at USD 36.66 billion in 2024 and is expected to be worth around USD 69.23 billion by 2034, exhibiting a compound annual growth rate (CAGR) of 6.56% over the forecast period 2025 to 2034. North America accounted for the highest revenue in the fiber reinforced polymer composites market in 2024, akin to the increasing need from sectors such as automotive, construction, and aerospace in the region. Moreover, having modern technological advances, several research organizations, and a skilled workforce have heavily contributed to the regional growth in recent years. Also, sectors such as defense and the air force are increasingly seeking lightweight and durable materials, and these polymer composites have risen as an ideal solution for them in the past few years. Also, the implementation of stricter quality standards provided an enlarged consumer base for high-performance materials such as fiber-reinforced polymer composites and others. 

Are Aerospace Giants Powering the Rise of Polymer Composites in the United States?

The United States maintained its dominance in the fiber reinforced polymer composites market owing to the expansion of enlarged sectors like defense and aerospace. The United States government has put a heavy investment in these sectors to improve national strength in the current period. The presence of major companies from the aerospace industry is driving the country's growth in recent years. These companies are increasingly looking for lightweight materials, which are expected to contribute to the growth of the polymer composite industry. 

Product Export: According to the report published by Observatory of Economic Complexity, the United States exported natural polymers worth $369 million in the year 2024. (Source: oec.world)

Asia Pacific is expected to capture a major share of the fiber reinforced polymer composites market, owing to the transport network and construction sector growth for the future period. Countries such as Japan, South Korea, China, and India are seen under a heavy usage of polymer composites due to sudden urban development, like roads, buildings, and other public construction, which can create beneficial opportunities for the market in the region. Moreover, the adoption of green energy, such as solar and wind, is heavily increasing the demand for fiber-reinforced polymer composites in the region, akin to increasing governmental focus on sustainability. 

Will China Lead APAC Composites? 

China is expected to rise as a dominant country in the Asia Pacific region in the coming years, owing to the immense manufacturing infrastructure and heavy domestic demand in the current period. Moreover, the ongoing development of the construction and transportation sector is expected to lead to higher adoption of fiber-reinforced polymer composites in the country during the forecast period.

Also, China is seen under the massive shift towards renewable energy, like wind and solar, which is anticipated to contribute to the demand for polymer composites in the coming years. Moreover, strong export qualities are likely to make the country stronger in the supply of polymer composites in the future, as per the country analysis.

Segmental Insights

Type Insights

Is GERP Composites Ideal for Industries?

The glass fiber reinforced polymer (GFRP) composites segment held the largest share of the fiber reinforced polymer composites market in 2024. It is cheaper than other types and still very strong and lightweight. GFRP composites is also easy to produce and works well in many industries like construction, automotive, and water treatment. It resists rust and chemicals, making it useful for pipes, panels, and tanks. Because it is affordable and available in large amounts, many companies choose GFRP composites for big projects. Its balance of cost, strength, and flexibility has made it the leading product in the market for many years. 

The carbon fiber reinforced polymer (CFRP) composites segment is seen to grow at a notable rate during the predicted timeframe, owing to its much stronger and lighter nature than glass fiber. CFRP composites is used in high-performance areas like aerospace, defense, and electric vehicles. It helps reduce weight and save energy, which is very important in these industries. As electric cars and airplanes become more common, the need for CFRP composites will grow. Though it is more expensive, new technology is helping lower its cost. With rising demand for lightweight and durable materials, CFRP composites is likely to become the top choice in the coming years.

Application Insights

Why do Automakers Prefer FRP Composites?

The automotive segment led the fiber reinforced polymer composites market in 2024. The automotive segment has been the top user of FRP composites. Car makers use these materials to make lighter and more fuel-efficient vehicles. Lighter cars use less fuel and release fewer emissions. FRP composites is used in car bodies, dashboards, bumpers, and battery covers. It is strong, does not rust, and can be shaped easily. The demand for electric vehicles has also helped increase the use of FRP composites in cars. As automakers work to meet safety and emission rules, FRP composites has become a key material. Its cost-effectiveness and usefulness in many parts make it a leader in automotive applications.

The construction segment is observed to grow at the fastest rate during the forecast period. Builders are using FRP composites for bridges, buildings, and pipelines because they are strong, light, and lasts a long time. It doesn't rust like steel, so it's great for use in wet or coastal areas. As cities grow and old buildings need repair, more builders are choosing FRP composites to save on maintenance. FRP composites is also easier to install, which helps finish projects faster. With more investment in smart cities and green buildings, FRP composites will become more popular in construction, making it a key segment in the coming years.

Recent Development

• In August 2024, the Programme introduced its latest fiber-reinforced polymer composites. These polymer compounds are specially designed for the construction application as per the company's claim. (Source : compositesuk.co.uk)
• In February 2025, the GFRP unveiled its latest rebar production. This newly launched product is called the EnviraBar, as per the information provided by the company. Moreover, this rebar consists of fiber-reinforced polymers as per the report published by the company. (Source: jeccomposites.com )

Top Companies list

• Avient Corporation
• Hexcel Corporation
• Mitsubishi Chemical Group Corporation.
• Plasan
• Röchling SE & Co. KG
• SABIC
• SGL Carbon
• Solvay
• TORAY INDUSTRIES, INC.
• TPI Composites Inc.

Segment Covered in the Report

By Product Type

• Glass Fiber Reinforced Polymer (GFRP) Composites
• Carbon Fiber Reinforced Polymer (CFRP) Composites
• Basalt Fiber Reinforced Polymer (BFRP) Composites
• Aramid Fiber Reinforced Polymer (AFRP) Composites

By Application 

• Automotive
• Construction
• Electronic
• Defense
• Others

By Region

• North America
  
  • U.S.
  • Canada
  • Mexico
• Europe
  
  • UK
  • Germany
  • France
• Asia Pacific
  
  • China
  • Japan
  • India
  • South Korea
  • Australia
• Latin America
  
  • Brazil
• Middle East and Africa (MEA)
  
  • KSA
  • UAE
  • South Africa