Composite Resin, valued at US$ 20.22 billion in 2023, is forecasted to reach US$ 25.59 billion by 2030, driven by a 3.4% CAGR due to increased demand in downstream sectors.
According to Publisher’s latest study, the global Composite Resin market size was valued at US$ 20220 million in 2023. With the growing demand in the downstream market, the Composite Resin is forecast to a readjusted size of US$ 25590 million by 2030 with a CAGR of 3.4% during the review period.
Market Overview
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The research report highlights the growth potential of the global Composite Resin market. Composite Resin is expected to show stable growth in the future market. However, product differentiation, reducing costs, and supply chain optimisation remain crucial for the widespread adoption of Composite Resin. Market players must invest in research and development, forge strategic partnerships, and align their offerings with evolving consumer preferences to capitalise on the immense opportunities presented by the Composite Resin market.
Composite resin is a low-molecular-weight organic compound, which is normally used as an organic matrix in the production of composite material. Composite resin is split between thermosets (mainly liquid resin) and thermoplastics (solid resin). Composite resin formulations vary depending on the process used to fabricate the part and the requirements of its end-use application.
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Manmayi Raval
Research Consultant
The report on the Composite Resin market reflects various aspects and provides valuable insights into the industry.
Market Drivers: An increasing number of applications from various end users. Composite resin has been used much more in the transportation, aerospace, and other industries. Composite resins are becoming more widely used in a variety of industrial applications due to the demand for inexpensive, lightweight materials, which is driving the market's growth. Along with economic growth and large investments in research and development, growing urbanization is also expected to fuel demand for composite resins. The market for these resins is predicted to rise in the emerging economies.
Challenges- Fears about Exorbitant Processing and Production Expenses for Composites. The high prices of manufacturing and materials are a constraint on the global market for composite resins. To reduce the overall cost, it is crucial to use methods for accurate cost estimation at an early stage. The capital-intensive apparatus and tools required for production have resulted in higher costs. The high cost of composites makes OEMs in the supply chain hesitant to use them, which is impeding the advancement of composite resin.
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Market Forecasts and Future Outlook: Material science advancements: Ongoing research and development initiatives fuel formulation breakthroughs for composite resins, resulting in the creation of bio-based resins, thermoplastic matrices, and hybrid systems with improved characteristics and sustainability credentials.
Digitalization and Industry 4.0: Predictive maintenance, quality control, and customization are made possible by the integration of digital technologies—such as additive manufacturing, simulation software, and real-time monitoring systems—into composite manufacturing processes. This results in increased productivity and lower costs.
Initiatives for the Circular Economy: By fostering closed-loop material cycles, recycling initiatives, and waste reduction measures, collaboration across the value chain—from raw material suppliers to end users—promotes the circularity of composite materials and minimizes environmental consequences.
Opportunities: Investing in sustainable solutions can lead to opportunities for regulatory compliance, environmental stewardship, and market differentiation. Examples of these include investing in recycling technologies, waste management infrastructure, and sustainable resin formulations.
Market Expansion in new Economies: Driven by growing infrastructure investments, urbanization, and industrialization trends, makers of composite resins can find development potential by tapping into new markets in Asia-Pacific, Latin America, and Africa.
Collaborations & Partnerships: Working together with government agencies, academic institutions, and industry stakeholders promotes innovation, market access, and technology adoption while fostering synergies and tackling problems facing the sector as a whole.
Market Segmentation:
The Composite Resin market is split by Type and by Application. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value. Unsaturated Polyester Resin is the main type, with a share of about 50%. Automotive is the main application, which holds a share of over 60%.
1. Segmentation by type
• Epoxy Resin
• Unsaturated Polyester Resin
• Phenolic Resin
• Others
2. Segmentation by application
• Automotive
• Windmills
• Building & Construction
• Aerospace
• Others
Regional Insights: The Americas region is leading the world's composite resin market due to the presence of large players and growing demand from the electrical and electronics, wind energy, pipelines and tanks, and US and Canadian industries. The market for composite resin has continued to grow as a result of the region's growing emphasis on renewable energy sources, which has increased the number of wind turbine installations. However, due to growing demand from the transportation and automotive industries, the Asia Pacific region is predicted to increase over the next few years in the worldwide composite resin market. Additional important elements expected to fuel the growth of the Asia Pacific composite resin market are expected to witness growth in the next ten years due to a rise in demand from diverse application sectors and a rise in investments from both private and state producers in countries like China and India. Forecasts indicate that the Chinese market will account for a sizable amount of the Asia Pacific industry's income. America and Europe are the main markets, they occupy about 60% of the global market.
3. Americas
• United States
• Canada
• Mexico
• Brazil
4. APAC
• China
• Japan
• Korea
• Southeast Asia
• India
• Australia
5. Europe
• Germany
• France
• UK
• Italy
• Russia
6. Middle East & Africa
• Egypt
• South Africa
• Israel
• Turkey
• GCC Countries
Competitive Landscape- The major players in the global Composite Resin market include Hexion, Huntsman Corporation, Polynt, etc. The top 3 players occupy about 30% shares of the global market. The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
• Hexion
• Huntsman Corporation
• Polynt
• Olin
• Royal DSM
• Reichhold
• BASF
• Ashland
• Mitsubishi Chemical
• Sumitomo Bakelite
• Kukdo Chemical
• Hanwha Chemical
• Sicomin
• Gurit
• Alpha Owens–Corning (AOC)
• SABIC
• Scott Bader Company
• Swancor
Table of Contents
1 Scope of the Report
1.1 Market Introduction
1.2 Years Considered
1.3 Research Objectives
1.4 Market Research Methodology
1.5 Research Process and Data Source
1.6 Economic Indicators
1.7 Currency Considered
1.8 Market Estimation Caveats
2 Executive Summary
2.1 World Market Overview
2.1.1 Global Composite Resin Annual Sales 2019-2030
2.1.2 World Current & Future Analysis for Composite Resin by Geographic Region, 2019, 2023 & 2030
2.1.3 World Current & Future Analysis for Composite Resin by Country/Region, 2019, 2023 & 2030
2.2 Composite Resin Segment by Type
2.2.1 Epoxy Resin
2.2.2 Unsaturated Polyester Resin
2.2.3 Phenolic Resin
2.2.4 Others
2.3 Composite Resin Sales by Type
2.3.1 Global Composite Resin Sales Market Share by Type (2019-2024)
2.3.2 Global Composite Resin Revenue and Market Share by Type (2019-2024)
2.3.3 Global Composite Resin Sale Price by Type (2019-2024)
2.4 Composite Resin Segment by Application
2.4.1 Automotive
2.4.2 Windmills
2.4.3 Building & Construction
2.4.4 Aerospace
2.4.5 Others
2.5 Composite Resin Sales by Application
2.5.1 Global Composite Resin Sale Market Share by Application (2019-2024)
2.5.2 Global Composite Resin Revenue and Market Share by Application (2019-2024)
2.5.3 Global Composite Resin Sale Price by Application (2019-2024)
3 Global Composite Resin by Company
3.1 Global Composite Resin Breakdown Data by Company
3.1.1 Global Composite Resin Annual Sales by Company (2019-2024)
3.1.2 Global Composite Resin Sales Market Share by Company (2019-2024)
3.2 Global Composite Resin Annual Revenue by Company (2019-2024)
3.2.1 Global Composite Resin Revenue by Company (2019-2024)
3.2.2 Global Composite Resin Revenue Market Share by Company (2019-2024)
3.3 Global Composite Resin Sale Price by Company
3.4 Key Manufacturers Composite Resin Producing Area Distribution, Sales Area, Product Type
3.4.1 Key Manufacturers Composite Resin Product Location Distribution
3.4.2 Players Composite Resin Products Offered
3.5 Market Concentration Rate Analysis
3.5.1 Competition Landscape Analysis
3.5.2 Concentration Ratio (CR3, CR5 and CR10) & (2019-2024)
3.6 New Products and Potential Entrants
3.7 Mergers & Acquisitions, Expansion
4 World Historic Review for Composite Resin by Geographic Region
4.1 World Historic Composite Resin Market Size by Geographic Region (2019-2024)
4.1.1 Global Composite Resin Annual Sales by Geographic Region (2019-2024)
4.1.2 Global Composite Resin Annual Revenue by Geographic Region (2019-2024)
4.2 World Historic Composite Resin Market Size by Country/Region (2019-2024)
4.2.1 Global Composite Resin Annual Sales by Country/Region (2019-2024)
4.2.2 Global Composite Resin Annual Revenue by Country/Region (2019-2024)
4.3 Americas Composite Resin Sales Growth
4.4 APAC Composite Resin Sales Growth
4.5 Europe Composite Resin Sales Growth
4.6 Middle East & Africa Composite Resin Sales Growth
5 Americas
5.1 Americas Composite Resin Sales by Country
5.1.1 Americas Composite Resin Sales by Country (2019-2024)
5.1.2 Americas Composite Resin Revenue by Country (2019-2024)
5.2 Americas Composite Resin Sales by Type
5.3 Americas Composite Resin Sales by Application
5.4 United States
5.5 Canada
5.6 Mexico
5.7 Brazil
6 APAC
6.1 APAC Composite Resin Sales by Region
6.1.1 APAC Composite Resin Sales by Region (2019-2024)
6.1.2 APAC Composite Resin Revenue by Region (2019-2024)
6.2 APAC Composite Resin Sales by Type
6.3 APAC Composite Resin Sales by Application
6.4 China
6.5 Japan
6.6 South Korea
6.7 Southeast Asia
6.8 India
6.9 Australia
6.10 China Taiwan
7 Europe
7.1 Europe Composite Resin by Country
7.1.1 Europe Composite Resin Sales by Country (2019-2024)
7.1.2 Europe Composite Resin Revenue by Country (2019-2024)
7.2 Europe Composite Resin Sales by Type
7.3 Europe Composite Resin Sales by Application
7.4 Germany
7.5 France
7.6 UK
7.7 Italy
7.8 Russia
8 Middle East & Africa
8.1 Middle East & Africa Composite Resin by Country
8.1.1 Middle East & Africa Composite Resin Sales by Country (2019-2024)
8.1.2 Middle East & Africa Composite Resin Revenue by Country (2019-2024)
8.2 Middle East & Africa Composite Resin Sales by Type
8.3 Middle East & Africa Composite Resin Sales by Application
8.4 Egypt
8.5 South Africa
8.6 Israel
8.7 Turkey
8.8 GCC Countries
9 Market Drivers, Challenges and Trends
9.1 Market Drivers & Growth Opportunities
9.2 Market Challenges & Risks
9.3 Industry Trends
10 Manufacturing Cost Structure Analysis
10.1 Raw Material and Suppliers
10.2 Manufacturing Cost Structure Analysis of Composite Resin
10.3 Manufacturing Process Analysis of Composite Resin
10.4 Industry Chain Structure of Composite Resin
11 Marketing, Distributors and Customer
11.1 Sales Channel
11.1.1 Direct Channels
11.1.2 Indirect Channels
11.2 Composite Resin Distributors
11.3 Composite Resin Customer
12 World Forecast Review for Composite Resin by Geographic Region
12.1 Global Composite Resin Market Size Forecast by Region
12.1.1 Global Composite Resin Forecast by Region (2025-2030)
12.1.2 Global Composite Resin Annual Revenue Forecast by Region (2025-2030)
12.2 Americas Forecast by Country
12.3 APAC Forecast by Region
12.4 Europe Forecast by Country
12.5 Middle East & Africa Forecast by Country
12.6 Global Composite Resin Forecast by Type
12.7 Global Composite Resin Forecast by Application
13 Key Players Analysis
13.1 Hexion
13.1.1 Hexion Company Information
13.1.2 Hexion Composite Resin Product Portfolios and Specifications
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