The Global Composite Materials Market was valued at USD 27.4 Billion in 2023 and is projected to reach USD 31.91 Billion by 2029, growing at a Compound Annual Growth Rate (CAGR) of 2.2% during the forecast period (2024-2029). This growth is driven by increasing demand from aerospace, automotive, and renewable energy sectors, along with the adoption of lightweight, high-performance material solutions.

As industries seek advanced materials to meet sustainability and efficiency goals, composite materials are becoming essential across applications. In this blog, we profile the Top 10 Companies in the Composite Materials Industry—market leaders pioneering carbon fiber, polymer matrix, and ceramic matrix composites worldwide.

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🔟 1. Toray Industries, Inc.

Headquarters: Tokyo, Japan
Key Offering: Carbon fiber reinforced polymers (CFRP), Advanced composites

Toray is the world’s largest carbon fiber producer, supplying high-performance materials to aerospace, automotive, and industrial sectors. Their TORAYCA® carbon fiber products are used by Boeing, Airbus, and premium automakers.

Innovation Focus:

• Pioneered commercial-scale carbon fiber recycling technology
• Advanced thermoplastic composites for mass production
• Annual R&D investment exceeding $200 million

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9️⃣ 2. Hexcel Corporation

Headquarters: Stamford, Connecticut, USA
Key Offering: Aerospace composites, Carbon fibers, Prepregs

Hexcel specializes in lightweight composite solutions for aircraft structures, supplying major aerospace manufacturers with materials that enhance fuel efficiency and performance.

Innovation Focus:

• HexPly® prepreg technology for next-generation aircraft
• Automated fiber placement compatible materials

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8️⃣ 3. SGL Carbon

Headquarters: Wiesbaden, Germany
Key Offering: Carbon fiber materials, Graphite solutions

SGL Carbon delivers specialized carbon-based composites for automotive, aerospace, and industrial applications through advanced material technologies and processing expertise.

Innovation Focus:

• SIGRAFIL® continuous fiber for automotive lightweighting
• Composite battery enclosures for electric vehicles

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7️⃣ 4. Teijin Limited

Headquarters: Osaka, Japan
Key Offering: TENAX® carbon fibers, Thermoplastic composites

Teijin develops high-performance carbon fibers and composite solutions for transportation, infrastructure, and energy applications through its advanced materials division.

Innovation Focus:

• Intermediate modulus carbon fiber development
• Automated tape placement compatible materials

Download FREE Sample Report: Composite Materials Market – View in Detailed Research Report

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6️⃣ 5. Mitsubishi Chemical Carbon Fiber and Composites

Headquarters: Tokyo, Japan
Key Offering: Pyrofil® carbon fiber, Composite materials

Mitsubishi Chemical Corporation supplies carbon fiber and composite materials globally for aerospace, industrial, and consumer applications.

Innovation Focus:

• High-strength carbon fiber technologies
• Automotive CFRP components for volume production

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5️⃣ 6. Solvay S.A.

Headquarters: Brussels, Belgium
Key Offering: Specialty polymers, Composite matrix systems

Solvay develops advanced composite materials for aerospace, automotive, and industrial applications with a focus on sustainable solutions.

Innovation Focus:

• Elium® thermoplastic resin for recyclable composites
• High-performance solutions for aerospace applications

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4️⃣ 7. Gurit Holding AG

Headquarters: Wattwil, Switzerland
Key Offering: Composite materials, Core materials

Gurit provides engineered composite solutions for wind energy, transportation, and marine applications through its global manufacturing network.

Innovation Focus:

• Wind turbine blade composite systems
• Sustainable core material technologies

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3️⃣ 8. Owens Corning

Headquarters: Toledo, Ohio, USA
Key Offering: Fiberglass composites, Reinforcements

Owens Corning is a leading manufacturer of glass fiber reinforcements and composite materials for construction and industrial applications.

Innovation Focus:

• High-performance fiberglass formulations
• Sustainable composite solutions

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2️⃣ 9. BASF SE

Headquarters: Ludwigshafen, Germany
Key Offering: Composite resins, Polyurethane systems

BASF develops polymer systems and material solutions for automotive, construction, and industrial composite applications.

Innovation Focus:

• Ultradur® high-speed composite materials
• Sustainable resin systems for mass production

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1️⃣ 10. Hexion Inc.

Headquarters: Columbus, Ohio, USA
Key Offering: Composite resins, Formulated systems

Hexion specializes in thermoset resin systems for composite materials used in wind energy, transportation, and construction markets.

Innovation Focus:

• Epoxy systems for large composite structures
• Low-VOC formulations for sustainable composites

Get Full Report Here: Composite Materials Market – View in Detailed Research Report

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🛠️ Outlook: The Future of Composite Materials

The composite materials market continues to evolve with technological advancements and growing demand across industries.

📈 Key Trends Shaping the Market:

• Expanding use in electric vehicle battery systems
• Development of recyclable and bio-based composites
• Automation in composite manufacturing processes
• Growing wind energy applications

Get Full Report Here: Composite Materials Market – View in Detailed Research Report

These industry leaders are driving material innovation to enable lighter, stronger, and more sustainable solutions across multiple sectors.