Transportation Composites Market Growth, Size, Share, Trends, and Forecast 2032

According to the report published by Zion Market Research, the global Transportation Composites Market size was valued at USD 47.61 Billion in 2023 and is predicted to reach USD 136.33 Billion by the end of 2032. The market is expected to grow with a CAGR of 12.40% during the forecast period. The report analyzes the global Transportation Composites Market’s growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Transportation Composites Market industry.

Global Transportation Composites Market: Overview

Composites help engineers and designers with the ability to rethink parts all across the transportation system ranging from aerospace to automotive. Composites are flexible in nature and offer several other hosts of supplementary benefits from corrosion and convenient bonding with different materials to lightweight durability.

Global Transportation Composites Market: Growth Factors

The global transportation composites market is likely to witness a significant growth rate during the forecast period due to the growing adoption of composites in commercial aircraft. Also, the increase in demand for fuel-efficient vehicles and lightweight materials is likely to further give ample thrust to the growth of the market in the coming years. In addition, the market is witnessing several significant developments as new market players are stepping into the global transportation composites market with advanced solutions that trigger innovations in the value chain.

However, thermosetting composites are gaining immense popularity among end-users due to their cross-linking property, and also it is considered the ideal option for applications in extreme conditions. Such composites are widely utilized in several sectors, including biomedical, robotics, construction, and infrastructure. Recyclable, non-toxic, and cost-effective options will enhance the strength. Also, thermoplastic resins are widely adopted in transportation composites, including polyvinyl chloride and PET, as they effectively retain shape and offer enhanced impact resistance over thermosetting resins.

Thermoplastics can restore their plasticity as they stiffen on cooling. They can also be re-melted and reshaped by reheating. Thermoplastic composite offers damage tolerance and recycling properties due to the tough character of the matrix material. In addition, they are also used in material handling, aerospace, automotive, and construction. Furthermore, carbon fiber-reinforced plastic has emerged as a promising material in the marketplace. The material is approximately 30% lighter and two times more sturdy as compared to glass fiber. It is highly used in racing car to reduce the weight of the vehicles and enhance driver safety.

It also enhances fuel usage and the performance of carbon dioxide, which in turn will expand the scope of battery-driven electric vehicles. Furthermore, the fast proliferating demand and government initiatives to promote electric vehicles globally will also encourage the growth of the market. In addition, several companies are undergoing mergers and acquisitions to expand their capacity to manufacture cost-effective and lightweight transportation composites. Such an emerging landscape will significantly accentuate the growth of the global transportation composites market.

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Global Transportation Composites Market: Segmentation

The global transportation composites market can be segmented into transportation type, manufacturing process, fiber, application, resin, and region.

By transportation type, the market can be segmented into roadways, waterways, railways, and airways.

By application, the market can be segmented into exteriors, interiors, and others. The interior applications account for the largest share in the global transportation composites market due to their superior properties like resistance to heat, lower durability, flexibility, strength, temperature, and moisture. The interior segment is expected to continue dominating the global transportation composites market over the forecasted period due to the growing demand from roadways, aerospace, and defense sector.

By fiber, the market can be segmented into natural, carbon, glass, and others. The glass fiber segment dominates the global transportation composites market due its extensive utilization in automotive components.

By manufacturing process, the market can be segmented into resin transfer molding, injection molding, compression molding, and others. The resin transfer molding segment holds hegemony over others due to the growing potential of RTM processes owing to the fast proliferating aerospace and automotive sector in developing regions. However, it is considered to be a very promising technology in today's era as it can facilitate complex 3D components and high mechanical performance with ideal surface finish and tight dimensional tolerance.

By resin, the market can be segmented into thermoplastic and thermosetting. 

Transportation Composites Market : Report Scope

Global Transportation Composites Market: Regional analysis

North America accounts for the largest share in the global transportation composites market due to the growing replacement activities of inefficient and old aircraft in the region. However, the growing scope of electric vehicles in the region will further widen the scope of transportation composites in the region.

Asia Pacific is expected to witness a significant growth rate over the forecasted period due to the fast proliferating automotive sector in the region. Also, the ongoing tech-driven innovations and improvements in product quality will support the growth of the market. In addition, the availability of cost-effective labor and resources will also stimulate the growth of the regional market.

Global Transportation Composites Market: Competitive Players

Some of the significant players in the global transportation composites market are:

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

The Global Transportation Composites Market is segmented as follows:

By Transportation Type 

• roadways 
• waterways 
• railways 
• airways 

By Manufacturing process 

• resin transfer molding 
• injection molding 
• compression molding 
• and others 

By Fiber 

• natural 
• carbon 
• glass 
• and others 

By Application 

• exteriors 
• interiors 
• and others 

By By resin 

• thermoplastic 
• thermosetting

Global Transportation Composites Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

What Reports Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.