The Global Fiber Reinforced Plastics (FRP) Market was valued at USD 33,520 Million in 2024 and is projected to reach USD 40,810 Million by 2032, growing at a Compound Annual Growth Rate (CAGR) of 2.9% during the forecast period (2025–2032). This steady expansion is propelled by escalating demand for lightweight, high-strength materials in the aerospace and automotive sectors, along with increasing infrastructure development and the adoption of sustainable composite solutions.

As industries worldwide prioritize efficiency, durability, and environmental performance, the focus intensifies on the major material producers driving innovation in composite technology. In this blog, we profile the Top 10 Companies in the Fiber Reinforced Plastics (FRP) Industry—a collection of chemical giants, advanced material specialists, and composite innovators that are fundamentally shaping the future of manufacturing across countless applications.

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🔟 1. BASF SE

Headquarters: Ludwigshafen, Germany
Key Offering: Epoxy Resins, Vinyl Esters, Glass & Carbon Fiber Composites

BASF SE stands as a global leader in the chemical industry and a major force in the FRP market, offering a comprehensive portfolio of resins and composite systems. The company’s advanced material solutions are critical for applications ranging from lightweight automotive components to corrosion-resistant industrial equipment.

Innovation Initiatives:

• Development of bio-based and recyclable epoxy resin systems

• Expansion of carbon fiber composite production capacity in Germany

• Strategic partnerships with automotive OEMs for next-generation lightweighting solutions

Download FREE Sample Report:
Fiber Reinforced Plastics (FRP) Market – View in Detailed Research Report

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9️⃣ 2. Toray Industries, Inc.

Headquarters: Tokyo, Japan
Key Offering: TORAYCA® Carbon Fiber, Advanced Composite Materials

Toray Industries is the world’s largest manufacturer of carbon fiber, a cornerstone material for high-performance FRP composites. The company dominates the aerospace-grade carbon fiber segment, supplying major aircraft manufacturers like Boeing and Airbus, while also expanding into automotive and industrial applications.

Innovation Initiatives:

• Patented manufacturing processes for high-strength, low-cost carbon fibers

• Recent expansion of production facilities in South Carolina, USA

• R&D focus on recyclable thermoplastic carbon fiber composites

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8️⃣ 3. Solvay S.A.

Headquarters: Brussels, Belgium
Key Offering: Specialty Polymers, Composite Materials, Advanced Formulations

Solvay is a key innovator in high-performance polymers and composite materials for the FRP market. The company’s expertise spans aerospace, automotive, and industrial sectors, with a strong focus on developing sustainable material solutions that meet stringent performance requirements.

Innovation Initiatives:

• Acquisition of composite molding technology firms to enhance product portfolio

• Development of fire-resistant and high-temperature composite systems

• Leadership in thermoplastic composites for mass production applications

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7️⃣ 4. Teijin Limited

Headquarters: Osaka, Japan
Key Offering: Carbon Fibers, Aramid Fibers, Composite Structures

Teijin Limited is a diversified chemical company with a strong presence in advanced fibers and composites. The company is renowned for its TENAX® carbon fibers and Technora® aramid fibers, which are essential reinforcements for high-performance FRP applications across multiple industries.

Innovation Initiatives:

• Cross-industry partnerships with automotive OEMs for structural components

• Development of rapid-curing CFRP technologies for mass production

• Investment in carbon fiber recycling technologies and closed-loop systems

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6️⃣ 5. Hexcel Corporation

Headquarters: Stamford, Connecticut, USA
Key Offering: Carbon Fibers, Reinforcements, Adhesives, Composite Structures

Hexcel Corporation is a leading advanced composites company that specializes in carbon fiber, reinforcements, resins, and composite structures for commercial aerospace, space, defense, and industrial applications. The company is a primary supplier to the global aerospace industry.

Innovation Initiatives:

• Development of advanced carbon fiber weaves and prepreg systems

• Expansion of production capacity for aerospace composite materials

• Strategic focus on lightweighting solutions for next-generation aircraft

Download FREE Sample Report:
Fiber Reinforced Plastics (FRP) Market – View in Detailed Research Report

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5️⃣ 6. SABIC

Headquarters: Riyadh, Saudi Arabia
Key Offering: Thermoplastic Composites, Engineering Plastics, Compound Solutions

SABIC is a global leader in diversified chemicals with significant expertise in thermoplastic composites for the FRP market. The company’s materials are particularly favored in automotive applications for their lightweighting potential, recyclability, and processing advantages over thermoset composites.

Innovation Initiatives:

• Leadership in long fiber reinforced thermoplastics (LFT) for automotive

• Development of flame-retardant composite solutions for electrical applications

• Expansion of composite material production in Asia and North America

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4️⃣ 7. Mitsubishi Chemical Carbon Fiber and Composites Inc.

Headquarters: Tokyo, Japan
Key Offering: Pyrofil® Carbon Fiber, Composite Materials, Intermediate Products

Mitsubishi Chemical Carbon Fiber and Composites is a major player in the carbon fiber and composite materials market, offering high-performance solutions for aerospace, industrial, and sporting goods applications. The company focuses on developing cost-effective carbon fiber technologies for broader market adoption.

Innovation Initiatives:

• Development of large-tow carbon fibers for cost-sensitive applications

• Expansion of carbon fiber production capacity to meet growing demand

• Focus on automotive and wind energy applications for future growth

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3️⃣ 8. Owens Corning

Headquarters: Toledo, Ohio, USA
Key Offering: Fiberglass Reinforcements, Composite Solutions

Owens Corning is a leading global producer of glass fiber reinforcements and composite materials for the FRP market. While carbon fiber garners significant attention, Owens Corning’s fiberglass products remain the workhorse of the composites industry due to their excellent balance of performance and cost-effectiveness.

Innovation Initiatives:

• Development of advanced glass fiber formulations for specific applications

• Sustainability initiatives focusing on recycled content and energy efficiency

• Expansion in construction and infrastructure composite applications

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2️⃣ 9. Gurit Holding AG

Headquarters: Wattwil, Switzerland
Key Offering: Composite Materials, Engineering Services, Tooling Systems

Gurit is a specialist in composite materials, engineering, and tooling for the wind energy, marine, and transportation markets. The company provides comprehensive solutions from material development to finished composite structures, with particular strength in the rapidly growing wind turbine blade market.

Innovation Initiatives:

• Specialization in structural core materials for sandwich composites

• Development of lightweight solutions for wind turbine blades

• Expansion of automotive composite component manufacturing

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1️⃣ 10. Lanxess AG

Headquarters: Cologne, Germany
Key Offering: High-Performance Materials, Specialty Compounds, Composite Solutions

Lanxess is a leading specialty chemicals company with a strong portfolio of high-performance materials for the FRP market. The company’s expertise in engineering plastics and fiber-reinforced compounds makes it a key supplier to automotive, electrical, and consumer goods industries.

Innovation Initiatives:

• Development of flame-retardant and high-temperature composite materials

• Focus on sustainable material solutions with recycled content

• Expansion of production capacity for engineering plastics in Asia

Read Full Report:
Fiber Reinforced Plastics (FRP) Market – View in Detailed Research Report

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🚀 Outlook: The Future of FRP Manufacturing Is Smarter and More Sustainable

The fiber reinforced plastics market is undergoing a significant transformation. While traditional glass fiber composites continue to dominate volume applications, the industry is investing heavily in advanced carbon fiber technologies, automated manufacturing processes, and sustainable material solutions.

📈 Key Trends Shaping the Market:

• Rapid adoption of thermoplastic composites for recyclability and mass production

• Increased automation in composite manufacturing through robotics and digital twins

• Growing emphasis on bio-based resins and natural fiber reinforcements

• Expansion of FRP applications in renewable energy infrastructure, particularly wind power

Read Full Report:
Fiber Reinforced Plastics (FRP) Market – View in Detailed Research Report

The companies listed above are not only supplying essential materials for modern manufacturing—they’re driving the technological evolution that will define the next generation of lightweight, durable, and sustainable products across global industries.