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 growth is propelled by the escalating demand for lightweight, high-strength materials in the aerospace and automotive sectors, alongside accelerating infrastructure development and advancements in composite technologies.

As industries globally prioritize sustainability and performance, the focus intensifies on the key material innovators driving the evolution of composite solutions. In this blog, we profile the Top 10 Companies in the Fiber Reinforced Plastics (FRP) Industry—a blend of chemical giants, specialized material scientists, and composite technology pioneers defining the future of advanced materials.

---

🔟 1. BASF SE

Headquarters: Ludwigshafen, Germany
Key Offering: Epoxy Resins, Acrodur® Binder, Carbon Fiber Reinforced Thermoplastics

BASF stands as a global leader in chemical solutions, with a formidable presence in the FRP market through its advanced resin systems and composite materials. The company serves a diverse range of industries, including automotive, aerospace, and wind energy, with a strong focus on developing sustainable and high-performance composite solutions. Their 2023 expansion of carbon fiber production capacity in Germany underscores their commitment to meeting growing market demands.

Sustainability Initiatives:

• Development of bio-based and recyclable resin systems

• Commitment to carbon-neutral growth by 2030

• Investment in closed-loop recycling technologies for composites

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

---

9️⃣ 2. Toray Industries, Inc.

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

Toray Industries is the world’s largest producer of carbon fiber, holding a dominant position in supplying advanced composites to the aerospace and automotive sectors. Their TORAYCA® carbon fibers are critical components in aircraft like the Boeing 787 and Airbus A350, where weight reduction is paramount for fuel efficiency. The company continues to expand its global production footprint to cater to rising demand.

Innovation Focus:

• Pioneering high-modulus and intermediate-modulus carbon fibers

• Expansion of production facilities in the United States and South Korea

• R&D in sustainable raw materials for carbon fiber precursor

---

8️⃣ 3. Hexcel Corporation

Headquarters: Stamford, Connecticut, USA
Key Offering: Carbon Fibers, Reinforcements, Adhesives, Honeycomb Core Materials

Hexcel Corporation is a leading advanced composites company, specializing in carbon fiber, woven reinforcements, and composite structures for the aerospace and defense industries. As a primary supplier to major aircraft manufacturers, Hexcel’s materials are integral to next-generation commercial and military aircraft, contributing significantly to lightweighting and performance enhancement.

Innovation Focus:

• Development of HexMC® moulding compounds for high-rate production

• Focus on thermoplastic composites for recyclability

• Strategic partnerships with OEMs for integrated material solutions

---

7️⃣ 4. Solvay SA

Headquarters: Brussels, Belgium
Key Offering: Specialty Polymers, Composite Materials, Cyanate Esters, Thermoplastic Tapes

Solvay is a key global player in advanced materials, offering a comprehensive portfolio of high-performance composites for the most demanding applications. Their products are essential in aerospace, automotive, and industrial markets, known for exceptional thermal stability and mechanical properties. Recent acquisitions have strengthened their position in composite molding technologies.

Sustainability Initiatives:

• SOLVAir® sustainable aviation solutions

• Investment in bio-derived epoxy resins

• Circular economy programs for composite waste

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

---

6️⃣ 5. SABIC

Headquarters: Riyadh, Saudi Arabia
Key Offering: LNP™ Thermoplastic Composites, ULTEM™ Resins, VALOX™ FR

SABIC is a prominent global leader in diversified chemicals, with a strong foothold in thermoplastic composites. Their materials are widely used in automotive lightweighting, electrical & electronics, and consumer goods. SABIC’s focus on innovation drives the development of new composite solutions that meet evolving industry needs for performance and sustainability.

Innovation Focus:

• Advanced thermoplastic composites for metal replacement

• Development of flame-retardant and laser-markable compounds

• Global expansion of compounding and manufacturing capabilities

---

5️⃣ 6. Teijin Limited

Headquarters: Tokyo, Japan
Key Offering: Tenax® Carbon Fiber, Aramid Fibers, Thermoplastic Composites

Teijin Limited is a diversified technology company with a powerful composites business, renowned for its Tenax® carbon fiber and aramid fibers. The company serves aerospace, automotive, and sports industries with high-performance materials. Teijin is actively forming cross-industry partnerships to co-develop next-generation structural components for electric vehicles and urban air mobility.

Innovation Focus:

• S-development of rapid-cure CFRP for mass production

• Expansion of carbon fiber recycling technology

• Focus on integrated value chain from fiber to finished part

---

4️⃣ 7. Mitsubishi Chemical Corporation

Headquarters: Tokyo, Japan
Key Offering: Pyrofil® Carbon Fiber, Acrylic Resin, Engineering Plastics

Mitsubishi Chemical Corporation (MCC) is a major force in the carbon fiber and composite materials market. Their Pyrofil® carbon fiber is used in a wide array of applications, from pressure vessels to automotive components. MCC leverages its integrated chemical expertise to innovate across the composite material value chain.

Sustainability Initiatives:

• Development of carbon fiber for hydrogen storage tanks

• Initiatives for GHG emission reduction across operations

• Research into biomass-derived carbon fiber precursors

---

3️⃣ 8. Hexion Inc.

Headquarters: Columbus, Ohio, USA
Key Offering: Epoxy Resins, Hardeners, Additives for Composites

Hexion Inc. is a leading global producer of thermoset resins, providing essential chemistry for the FRP industry. Their epoxy systems are critical for wind turbine blades, automotive composites, and construction materials. Hexion focuses on developing formulations that enhance processing efficiency and final part performance.

Innovation Focus:

• Fast-cure epoxy systems for wind energy and automotive

• Low-VOC and sustainable resin technologies

• Technical support and formulation expertise for customers

---

2️⃣ 9. Owens Corning

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

Owens Corning is a global leader in fiberglass and composite solutions, with a long history of innovation in glass fiber reinforcements. Their materials are fundamental to the construction, transportation, and wind energy markets. The company maintains a strong focus on sustainability, with products that contribute to energy efficiency and resource conservation.

Sustainability Initiatives:

• 2020 Sustainability Goals focused on GHG reduction and circularity

• Development of high-performance glass fibers with recycled content

• Product innovations for lightweighting and energy savings

---

1️⃣ 10. Gurit Holding AG

Headquarters: Wattwil, Switzerland
Key Offering: Structural Core Materials, Composite Kits, Engineering Services

Gurit is a specialized composites manufacturer focused on core materials, prepregs, and structural engineering services. The company is a key supplier to the wind energy, marine, and automotive industries, providing lightweight sandwich structures and advanced composite solutions. Gurit’s technical expertise makes it a valued partner for complex composite applications.

Innovation Focus:

• Development of sustainable core materials like recycled PET

• Advanced prepreg systems for high-volume automotive production

• Integrated engineering and material supply packages

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

---

🌍 Outlook: The Future of FRP Is Smarter, Lighter, and More Sustainable

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

📈 Key Trends Shaping the Market:

• Accelerated adoption of thermoplastic composites for recyclability

• Digitalization and automation in composite manufacturing (e.g., automated fiber placement)

• Growing demand from renewable energy sectors, particularly wind turbine blades and hydrogen storage

• Increased R&D in bio-based fibers and resins to reduce environmental footprint

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

The companies profiled above are not only supplying critical materials to global industries—they are actively engineering the next generation of high-performance, sustainable composite solutions that will define the future of manufacturing and transportation.