Functional Composite Market Overview and Growth Drivers

The global functional composite market is expected to grow at a CAGR of 9.0% during the projected period. The market value is projected to increase from USD 56.7 billion in 2024 to USD 134 billion by 2034.

Attributes Details
Market Size, 2024 USD 56.7 billion
Market Size, 2034 USD 134 billion
Value CAGR (2024 to 2034) 9.0%

Functional Composite Market Size and Share Forecast Outlook

  • The increasing demand for lightweight materials in various industries such as aerospace, automotive, and construction.
  • Functional composites are known for their lightweight properties, which make them an ideal choice for these industries, as they help reduce fuel consumption, enhance performance, and lower overall costs.
  • The increasing demand for renewable energy sources. The growing need for sustainable energy has led to an increased demand for wind turbines, which use functional composites in their manufacturing process.
  • The use of composites in wind turbines helps to reduce weight and enhance performance, which in turn leads to cost savings and more efficient energy production.
  • The growing demand for high-performance materials in various end-use industries. The use of advanced composites in the aerospace and defense industries is a prime example of trend. These industries require materials that can withstand extreme temperature and pressure conditions, and functional composites are well-suited for this purpose.
  • The growing trend of automation in various industries is driving the growth of the functional composites market.
  • The use of composites in automation equipment helps to reduce weight and increase the efficiency of these machines. This, in turn, leads to cost savings and increased productivity.

Potential Opportunities Driving the Demand for Functional Composite

The functional composite market is a rapidly growing sector with a wide range of opportunities for manufacturers.

  • The increasing demand for carbon fiber composites in the aerospace industry.
  • Carbon fiber composites are lightweight, strong, and offer excellent resistance to heat and corrosion, making them ideal for use in aircraft structures.
  • With the global aerospace industry projected to grow steadily in the coming years, manufacturers of carbon fiber composites can expect a surge in demand for their products.
  • With the growing demand for fuel-efficient vehicles, manufacturers are turning to lightweight materials such as composites to reduce the weight of vehicles and improve fuel efficiency.
  • Functional composites offer excellent performance in terms of strength, stiffness, and durability, and can be used to make various automotive components such as body panels, chassis, and suspension systems.
  • Manufacturers of functional composites can capitalize on the growing demand for sustainable and energy-efficient buildings.
  • Composites are resistant to moisture, corrosion, and rot, making them suitable for use in harsh environments which is expected to create lucrative opportunities during the forecast period.

Factors Restraining the Demand for Functional Composite

The functional composite market has been growing consistently over the past few years. However, there are several challenges that manufacturers face in the market.

  • The high cost of raw materials is expected to hamper the market during the forecast period. The cost of raw materials used to manufacture functional composites is much higher than that of traditional materials. The high cost of raw materials makes it difficult for manufacturers to price their products competitively.
  • The complexity of the manufacturing process. The production process involves several steps, including mixing, molding, curing, and finishing. Each step requires specialized equipment and skilled labor, which adds to the cost of production.
  • The functional composite market is highly regulated. Manufacturers need to comply with various environmental, health, and safety regulations while producing and transporting their products.
  • The lack of awareness about the benefits of functional composites among end-users. Manufacturers need to invest in marketing and education to create awareness about the advantages of functional composites over traditional materials. Marketing is likely to help in increasing the demand for these products and create new opportunities for growth in the market.

Functional Composite Industry Analysis by Top Investment Segments

The Metal Matrix Segment Dominates the Market by Matrix Type

Attributes Details
Matrix Type Metal Matrix
Market CAGR from 2024 to 2034 8.7%
  • The aerospace industry has been a significant driver of demand for metal matrix composites due to their high strength-to-weight ratios, excellent thermal stability, and good fatigue properties.
  • The automotive and electronics industries are also emerging as significant consumers of metal matrix composites, as they offer excellent wear resistance, thermal stability, and electrical conductivity.
  • On the other hand, the defense industry uses metal matrix composites in armor applications.
  • The electronics industry in various regions uses metal matrix composites in the production of heat sinks and electrical contacts due to their thermal stability and electrical conductivity.

The Aerospace & Defense Segment Dominates the Market by End Use Industry

Attributes Details
End Use Industry Aerospace & Defense
Market CAGR Form 2024 to 2034 8.6%
  • The aerospace industry, in particular, has increasingly been adopting composite materials for use in aircraft components to achieve weight reduction, enhanced fuel efficiency, and improved performance.
  • The high demand for advanced composites in the aerospace industry can be attributed to their superior strength-to-weight ratio, corrosion resistance, and durability, which make them ideal for critical components such as wings, fuselage, and engine parts.
  • The defense sector has also been a significant driver of growth in the functional composite market, particularly in the production of armor systems, ballistic protection, and unmanned aerial vehicles (UAVs).
  • The military's increasing focus on lightweight, high-strength materials has led to the adoption of advanced composites in various applications, from body armor to aircraft components.

Analysis of Top Countries Producing, Engineering, and Adopting Functional Composite

Countries CAGR through 2024 to 2034
United States 9.1%
United Kingdom 9.4%
China 9.8%
Japan 10.1%
South Korea 10.0%

Growing Demand for Sustainable and Eco-Friendly Products in the United States

  • The growing demand for lightweight and durable materials in various industries, including aerospace, automotive, and construction in the United States.
  • The increasing demand for renewable energy sources in the region. The use of composites in wind turbine blades, for example, has increased significantly over the past few years, as these materials offer superior performance and efficiency compared to traditional materials.
  • The United States has a robust manufacturing industry, which is driving demand for functional composites in the country. Many manufacturers are looking to reduce costs and improve efficiency, and functional composites offer an excellent solution.
  • The growing demand for sustainable and eco-friendly products is also driving the growth of the functional composite market in the United States. Many consumers are looking for products that are environmentally friendly and have a lower carbon footprint and functional composites offer an excellent solution.

Increasing Demand for Lightweight and High-Performance Materials across Various Industries in the United Kingdom

  • The growth of the automotive industry in the United Kingdom. With the shift towards electric vehicles and the need for more fuel-efficient cars, manufacturers are increasingly turning to composite materials to reduce weight and improve performance.
  • The construction industry is a significant contributor to the functional composite market in the United Kingdom. Composite materials are used in the construction of bridges, buildings, and other infrastructure projects due to their durability, strength, and resistance to corrosion.
  • The increasing demand for lightweight and high-performance materials across various industries, including automotive, aerospace, renewable energy, and construction, is driving the growth of the functional composite market in the United Kingdom.
  • With advancements in technology and increasing awareness about the benefits of composite materials, this trend is expected to continue in the coming years.

Rising Government's Massive Investments in Infrastructure Projects in China

  • China is one of the fastest-growing economies in the world, and its demand for functional composites has been increasing steadily over the years.
  • Infrastructure development is a key driver of the functional composite market in China.
  • The government's massive investments in infrastructure projects, including highways, airports, bridges, and high-speed railways, have created a huge demand for lightweight, durable, and corrosion-resistant materials.
  • Rising consumer awareness toward environment-friendly products in China. As consumers become more health-conscious and environmentally aware, they are looking for products that are safer, more durable, and more sustainable.
  • Functional composites, such as biodegradable plastics and composites made from recycled materials, are gaining popularity among consumers who are looking for eco-friendly alternatives to traditional materials.

Need For Functional Composites in Manufacturing Industries in Japan

  • Japan is a country that has been at the forefront of technology and innovation for decades. The country has a highly advanced manufacturing sector, which has been a key driver of its economy.
  • The country's aging population is expected to drive the demand for functional composites. As the population ages, there is a growing need for products that can improve the quality of life for seniors.
  • Functional composites are being used in the production of a range of products, including medical devices, prosthetics, and even housing materials that can improve the safety and comfort of older people.
  • The need for functional composites in manufacturing industries in Japan. Japanese companies are increasingly using these materials in the production of a range of products, including electronics, automotive components, and aerospace parts.

Increasing Focus on Innovation and Sustainability in South Korea

  • South Korea's economy has been growing at a steady rate in recent years, making it one of the fastest-growing economies in the world. The growth leads to an increase in demand for advanced materials such as functional composites, which are used in a wide range of applications across various industries.
  • The country's focus on innovation and sustainability.
  • With a growing awareness of the environmental impact of traditional materials and a desire to reduce carbon emissions, many South Korean companies are turning to functional composites as a more sustainable alternative
  • The South Korean government has also been supportive of the functional composites industry, providing funding and incentives to companies to encourage innovation and growth. As a result of government initiatives, the development of new technologies and products, further drives the demand for functional composites.

Key Functional Composite Market Players and Concentration

The market is constantly evolving. With the increasing demand for lightweight and high-strength materials in various industries, the market is becoming more crowded with new players and innovative solutions.

Companies are focused on product innovation, strategic partnerships, and mergers & acquisitions to expand their market presence and stay ahead of the competition. Additionally, the market is also witnessing the emergence of several start-ups and niche players that are disrupting the traditional market dynamics with their unique offerings and agile business models.

Recent Development in the Functional Composite Market

  • In 2022, 3A Composites Core Materials, based in Sins, Switzerland, has introduced the Engicore series of core materials for the markets of North and South America. This new portfolio offers a range of custom core solutions that are designed to meet the specific requirements of each customer's manufacturing process and standard needs. Engicore is aimed at customers who are looking for innovative and sustainable procurement solutions.

Leading Suppliers of Functional Composite

  • Toray Industries Inc.
  • Hexcel Corporation
  • Owens Corning
  • Solvay, SGL Carbon
  • Teijin Limited
  • Mitsubishi Chemical Holdings Corporation
  • Gurit
  • Henkel AG & Co. KGaA
  • Huntsman Corporation
  • BASF SE

Top Insights Covered in the Functional Composite Market Report

  • Engineered Composite Market Landscape
  • Smart Composite Materials Adoption Assessment
  • Hybrid Composite Industry Outlook
  • High-Performance Composite Market Analysis
  • Tailored Composite Pricing Scenario

Top Segments Studied in the Functional Composite Market Report

By Matrix Type:

  • Metal Matrix
  • Polymer Matrix
  • Ceramic Matrix
  • Hybrid Matrix

By End-use Industry:

  • Aerospace & Defense
  • Wind Energy
  • Transportation
  • Building & Construction
  • Consumer Goods
  • Electronics
  • Others

By Industry:

  • Semiconductor
  • Healthcare
  • Automotive
  • Manufacturing
  • Others

By Region:

  • North America
  • Latin America
  • East Asia
  • South Asia
  • Europe
  • Oceania
  • MEA

Table of Content

  • 1. Executive Summary
  • 2. Market Overview
  • 3. Market Background
  • 4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034
  • 5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Matrix Type
    • 5.1. Metal Matrix
    • 5.2. Polymer Matrix
    • 5.3. Ceramic Matrix
    • 5.4. Hybrid Matrix
  • 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By End-use Industry
    • 6.1. Aerospace & Defense
    • 6.2. Wind Energy
    • 6.3. Transportation
    • 6.4. Building & Construction
    • 6.5. Consumer Goods
    • 6.6. Electronics
    • 6.7. Others
  • 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region
    • 7.1. North America
    • 7.2. Latin America
    • 7.3. Western Europe
    • 7.4. Eastern Europe
    • 7.5. South Asia and Pacific
    • 7.6. East Asia
    • 7.7. Middle East and Africa
  • 8. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
  • 9. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
  • 10. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
  • 11. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
  • 12. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
  • 13. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
  • 14. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
  • 15. Key Countries Market Analysis
  • 16. Market Structure Analysis
  • 17. Competition Analysis
    • 17.1. Bayer AG
    • 17.2. Air Products & Chemicals, Inc.
    • 17.3. Materion Corporation
    • 17.4. 3M Company
    • 17.5. Applied Materials Inc.
    • 17.6. Momentive Performance Materials Inc
    • 17.7. 3A Composites Inc.
    • 17.8. Kyocera Corporation
    • 17.9. Ametek, Inc
    • 17.10. E. I. Du Pont De Nemours & Company
  • 18. Assumptions & Acronyms Used
  • 19. Research Methodology

List of Tables

Table 1: Global Market Value (US$ Million) Forecast by Region, 2019 to 2034

Table 2: Global Market Volume (Tons) Forecast by Region, 2019 to 2034

Table 3: Global Market Value (US$ Million) Forecast by Matrix Type, 2019 to 2034

Table 4: Global Market Volume (Tons) Forecast by Matrix Type, 2019 to 2034

Table 5: Global Market Value (US$ Million) Forecast by End-use Industry, 2019 to 2034

Table 6: Global Market Volume (Tons) Forecast by End-use Industry, 2019 to 2034

Table 7: North America Market Value (US$ Million) Forecast by Country, 2019 to 2034

Table 8: North America Market Volume (Tons) Forecast by Country, 2019 to 2034

Table 9: North America Market Value (US$ Million) Forecast by Matrix Type, 2019 to 2034

Table 10: North America Market Volume (Tons) Forecast by Matrix Type, 2019 to 2034

Table 11: North America Market Value (US$ Million) Forecast by End-use Industry, 2019 to 2034

Table 12: North America Market Volume (Tons) Forecast by End-use Industry, 2019 to 2034

Table 13: Latin America Market Value (US$ Million) Forecast by Country, 2019 to 2034

Table 14: Latin America Market Volume (Tons) Forecast by Country, 2019 to 2034

Table 15: Latin America Market Value (US$ Million) Forecast by Matrix Type, 2019 to 2034

Table 16: Latin America Market Volume (Tons) Forecast by Matrix Type, 2019 to 2034

Table 17: Latin America Market Value (US$ Million) Forecast by End-use Industry, 2019 to 2034

Table 18: Latin America Market Volume (Tons) Forecast by End-use Industry, 2019 to 2034

Table 19: Western Europe Market Value (US$ Million) Forecast by Country, 2019 to 2034

Table 20: Western Europe Market Volume (Tons) Forecast by Country, 2019 to 2034

Table 21: Western Europe Market Value (US$ Million) Forecast by Matrix Type, 2019 to 2034

Table 22: Western Europe Market Volume (Tons) Forecast by Matrix Type, 2019 to 2034

Table 23: Western Europe Market Value (US$ Million) Forecast by End-use Industry, 2019 to 2034

Table 24: Western Europe Market Volume (Tons) Forecast by End-use Industry, 2019 to 2034

Table 25: Eastern Europe Market Value (US$ Million) Forecast by Country, 2019 to 2034

Table 26: Eastern Europe Market Volume (Tons) Forecast by Country, 2019 to 2034

Table 27: Eastern Europe Market Value (US$ Million) Forecast by Matrix Type, 2019 to 2034

Table 28: Eastern Europe Market Volume (Tons) Forecast by Matrix Type, 2019 to 2034

Table 29: Eastern Europe Market Value (US$ Million) Forecast by End-use Industry, 2019 to 2034

Table 30: Eastern Europe Market Volume (Tons) Forecast by End-use Industry, 2019 to 2034

Table 31: South Asia and Pacific Market Value (US$ Million) Forecast by Country, 2019 to 2034

Table 32: South Asia and Pacific Market Volume (Tons) Forecast by Country, 2019 to 2034

Table 33: South Asia and Pacific Market Value (US$ Million) Forecast by Matrix Type, 2019 to 2034

Table 34: South Asia and Pacific Market Volume (Tons) Forecast by Matrix Type, 2019 to 2034

Table 35: South Asia and Pacific Market Value (US$ Million) Forecast by End-use Industry, 2019 to 2034

Table 36: South Asia and Pacific Market Volume (Tons) Forecast by End-use Industry, 2019 to 2034

Table 37: East Asia Market Value (US$ Million) Forecast by Country, 2019 to 2034

Table 38: East Asia Market Volume (Tons) Forecast by Country, 2019 to 2034

Table 39: East Asia Market Value (US$ Million) Forecast by Matrix Type, 2019 to 2034

Table 40: East Asia Market Volume (Tons) Forecast by Matrix Type, 2019 to 2034

Table 41: East Asia Market Value (US$ Million) Forecast by End-use Industry, 2019 to 2034

Table 42: East Asia Market Volume (Tons) Forecast by End-use Industry, 2019 to 2034

Table 43: Middle East and Africa Market Value (US$ Million) Forecast by Country, 2019 to 2034

Table 44: Middle East and Africa Market Volume (Tons) Forecast by Country, 2019 to 2034

Table 45: Middle East and Africa Market Value (US$ Million) Forecast by Matrix Type, 2019 to 2034

Table 46: Middle East and Africa Market Volume (Tons) Forecast by Matrix Type, 2019 to 2034

Table 47: Middle East and Africa Market Value (US$ Million) Forecast by End-use Industry, 2019 to 2034

Table 48: Middle East and Africa Market Volume (Tons) Forecast by End-use Industry, 2019 to 2034

List of Figures

Figure 1: Global Market Value (US$ Million) by Matrix Type, 2024 to 2034

Figure 2: Global Market Value (US$ Million) by End-use Industry, 2024 to 2034

Figure 3: Global Market Value (US$ Million) by Region, 2024 to 2034

Figure 4: Global Market Value (US$ Million) Analysis by Region, 2019 to 2034

Figure 5: Global Market Volume (Tons) Analysis by Region, 2019 to 2034

Figure 6: Global Market Value Share (%) and BPS Analysis by Region, 2024 to 2034

Figure 7: Global Market Y-o-Y Growth (%) Projections by Region, 2024 to 2034

Figure 8: Global Market Value (US$ Million) Analysis by Matrix Type, 2019 to 2034

Figure 9: Global Market Volume (Tons) Analysis by Matrix Type, 2019 to 2034

Figure 10: Global Market Value Share (%) and BPS Analysis by Matrix Type, 2024 to 2034

Figure 11: Global Market Y-o-Y Growth (%) Projections by Matrix Type, 2024 to 2034

Figure 12: Global Market Value (US$ Million) Analysis by End-use Industry, 2019 to 2034

Figure 13: Global Market Volume (Tons) Analysis by End-use Industry, 2019 to 2034

Figure 14: Global Market Value Share (%) and BPS Analysis by End-use Industry, 2024 to 2034

Figure 15: Global Market Y-o-Y Growth (%) Projections by End-use Industry, 2024 to 2034

Figure 16: Global Market Attractiveness by Matrix Type, 2024 to 2034

Figure 17: Global Market Attractiveness by End-use Industry, 2024 to 2034

Figure 18: Global Market Attractiveness by Region, 2024 to 2034

Figure 19: North America Market Value (US$ Million) by Matrix Type, 2024 to 2034

Figure 20: North America Market Value (US$ Million) by End-use Industry, 2024 to 2034

Figure 21: North America Market Value (US$ Million) by Country, 2024 to 2034

Figure 22: North America Market Value (US$ Million) Analysis by Country, 2019 to 2034

Figure 23: North America Market Volume (Tons) Analysis by Country, 2019 to 2034

Figure 24: North America Market Value Share (%) and BPS Analysis by Country, 2024 to 2034

Figure 25: North America Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034

Figure 26: North America Market Value (US$ Million) Analysis by Matrix Type, 2019 to 2034

Figure 27: North America Market Volume (Tons) Analysis by Matrix Type, 2019 to 2034

Figure 28: North America Market Value Share (%) and BPS Analysis by Matrix Type, 2024 to 2034

Figure 29: North America Market Y-o-Y Growth (%) Projections by Matrix Type, 2024 to 2034

Figure 30: North America Market Value (US$ Million) Analysis by End-use Industry, 2019 to 2034

Figure 31: North America Market Volume (Tons) Analysis by End-use Industry, 2019 to 2034

Figure 32: North America Market Value Share (%) and BPS Analysis by End-use Industry, 2024 to 2034

Figure 33: North America Market Y-o-Y Growth (%) Projections by End-use Industry, 2024 to 2034

Figure 34: North America Market Attractiveness by Matrix Type, 2024 to 2034

Figure 35: North America Market Attractiveness by End-use Industry, 2024 to 2034

Figure 36: North America Market Attractiveness by Country, 2024 to 2034

Figure 37: Latin America Market Value (US$ Million) by Matrix Type, 2024 to 2034

Figure 38: Latin America Market Value (US$ Million) by End-use Industry, 2024 to 2034

Figure 39: Latin America Market Value (US$ Million) by Country, 2024 to 2034

Figure 40: Latin America Market Value (US$ Million) Analysis by Country, 2019 to 2034

Figure 41: Latin America Market Volume (Tons) Analysis by Country, 2019 to 2034

Figure 42: Latin America Market Value Share (%) and BPS Analysis by Country, 2024 to 2034

Figure 43: Latin America Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034

Figure 44: Latin America Market Value (US$ Million) Analysis by Matrix Type, 2019 to 2034

Figure 45: Latin America Market Volume (Tons) Analysis by Matrix Type, 2019 to 2034

Figure 46: Latin America Market Value Share (%) and BPS Analysis by Matrix Type, 2024 to 2034

Figure 47: Latin America Market Y-o-Y Growth (%) Projections by Matrix Type, 2024 to 2034

Figure 48: Latin America Market Value (US$ Million) Analysis by End-use Industry, 2019 to 2034

Figure 49: Latin America Market Volume (Tons) Analysis by End-use Industry, 2019 to 2034

Figure 50: Latin America Market Value Share (%) and BPS Analysis by End-use Industry, 2024 to 2034

Figure 51: Latin America Market Y-o-Y Growth (%) Projections by End-use Industry, 2024 to 2034

Figure 52: Latin America Market Attractiveness by Matrix Type, 2024 to 2034

Figure 53: Latin America Market Attractiveness by End-use Industry, 2024 to 2034

Figure 54: Latin America Market Attractiveness by Country, 2024 to 2034

Figure 55: Western Europe Market Value (US$ Million) by Matrix Type, 2024 to 2034

Figure 56: Western Europe Market Value (US$ Million) by End-use Industry, 2024 to 2034

Figure 57: Western Europe Market Value (US$ Million) by Country, 2024 to 2034

Figure 58: Western Europe Market Value (US$ Million) Analysis by Country, 2019 to 2034

Figure 59: Western Europe Market Volume (Tons) Analysis by Country, 2019 to 2034

Figure 60: Western Europe Market Value Share (%) and BPS Analysis by Country, 2024 to 2034

Figure 61: Western Europe Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034

Figure 62: Western Europe Market Value (US$ Million) Analysis by Matrix Type, 2019 to 2034

Figure 63: Western Europe Market Volume (Tons) Analysis by Matrix Type, 2019 to 2034

Figure 64: Western Europe Market Value Share (%) and BPS Analysis by Matrix Type, 2024 to 2034

Figure 65: Western Europe Market Y-o-Y Growth (%) Projections by Matrix Type, 2024 to 2034

Figure 66: Western Europe Market Value (US$ Million) Analysis by End-use Industry, 2019 to 2034

Figure 67: Western Europe Market Volume (Tons) Analysis by End-use Industry, 2019 to 2034

Figure 68: Western Europe Market Value Share (%) and BPS Analysis by End-use Industry, 2024 to 2034

Figure 69: Western Europe Market Y-o-Y Growth (%) Projections by End-use Industry, 2024 to 2034

Figure 70: Western Europe Market Attractiveness by Matrix Type, 2024 to 2034

Figure 71: Western Europe Market Attractiveness by End-use Industry, 2024 to 2034

Figure 72: Western Europe Market Attractiveness by Country, 2024 to 2034

Figure 73: Eastern Europe Market Value (US$ Million) by Matrix Type, 2024 to 2034

Figure 74: Eastern Europe Market Value (US$ Million) by End-use Industry, 2024 to 2034

Figure 75: Eastern Europe Market Value (US$ Million) by Country, 2024 to 2034

Figure 76: Eastern Europe Market Value (US$ Million) Analysis by Country, 2019 to 2034

Figure 77: Eastern Europe Market Volume (Tons) Analysis by Country, 2019 to 2034

Figure 78: Eastern Europe Market Value Share (%) and BPS Analysis by Country, 2024 to 2034

Figure 79: Eastern Europe Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034

Figure 80: Eastern Europe Market Value (US$ Million) Analysis by Matrix Type, 2019 to 2034

Figure 81: Eastern Europe Market Volume (Tons) Analysis by Matrix Type, 2019 to 2034

Figure 82: Eastern Europe Market Value Share (%) and BPS Analysis by Matrix Type, 2024 to 2034

Figure 83: Eastern Europe Market Y-o-Y Growth (%) Projections by Matrix Type, 2024 to 2034

Figure 84: Eastern Europe Market Value (US$ Million) Analysis by End-use Industry, 2019 to 2034

Figure 85: Eastern Europe Market Volume (Tons) Analysis by End-use Industry, 2019 to 2034

Figure 86: Eastern Europe Market Value Share (%) and BPS Analysis by End-use Industry, 2024 to 2034

Figure 87: Eastern Europe Market Y-o-Y Growth (%) Projections by End-use Industry, 2024 to 2034

Figure 88: Eastern Europe Market Attractiveness by Matrix Type, 2024 to 2034

Figure 89: Eastern Europe Market Attractiveness by End-use Industry, 2024 to 2034

Figure 90: Eastern Europe Market Attractiveness by Country, 2024 to 2034

Figure 91: South Asia and Pacific Market Value (US$ Million) by Matrix Type, 2024 to 2034

Figure 92: South Asia and Pacific Market Value (US$ Million) by End-use Industry, 2024 to 2034

Figure 93: South Asia and Pacific Market Value (US$ Million) by Country, 2024 to 2034

Figure 94: South Asia and Pacific Market Value (US$ Million) Analysis by Country, 2019 to 2034

Figure 95: South Asia and Pacific Market Volume (Tons) Analysis by Country, 2019 to 2034

Figure 96: South Asia and Pacific Market Value Share (%) and BPS Analysis by Country, 2024 to 2034

Figure 97: South Asia and Pacific Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034

Figure 98: South Asia and Pacific Market Value (US$ Million) Analysis by Matrix Type, 2019 to 2034

Figure 99: South Asia and Pacific Market Volume (Tons) Analysis by Matrix Type, 2019 to 2034

Figure 100: South Asia and Pacific Market Value Share (%) and BPS Analysis by Matrix Type, 2024 to 2034

Figure 101: South Asia and Pacific Market Y-o-Y Growth (%) Projections by Matrix Type, 2024 to 2034

Figure 102: South Asia and Pacific Market Value (US$ Million) Analysis by End-use Industry, 2019 to 2034

Figure 103: South Asia and Pacific Market Volume (Tons) Analysis by End-use Industry, 2019 to 2034

Figure 104: South Asia and Pacific Market Value Share (%) and BPS Analysis by End-use Industry, 2024 to 2034

Figure 105: South Asia and Pacific Market Y-o-Y Growth (%) Projections by End-use Industry, 2024 to 2034

Figure 106: South Asia and Pacific Market Attractiveness by Matrix Type, 2024 to 2034

Figure 107: South Asia and Pacific Market Attractiveness by End-use Industry, 2024 to 2034

Figure 108: South Asia and Pacific Market Attractiveness by Country, 2024 to 2034

Figure 109: East Asia Market Value (US$ Million) by Matrix Type, 2024 to 2034

Figure 110: East Asia Market Value (US$ Million) by End-use Industry, 2024 to 2034

Figure 111: East Asia Market Value (US$ Million) by Country, 2024 to 2034

Figure 112: East Asia Market Value (US$ Million) Analysis by Country, 2019 to 2034

Figure 113: East Asia Market Volume (Tons) Analysis by Country, 2019 to 2034

Figure 114: East Asia Market Value Share (%) and BPS Analysis by Country, 2024 to 2034

Figure 115: East Asia Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034

Figure 116: East Asia Market Value (US$ Million) Analysis by Matrix Type, 2019 to 2034

Figure 117: East Asia Market Volume (Tons) Analysis by Matrix Type, 2019 to 2034

Figure 118: East Asia Market Value Share (%) and BPS Analysis by Matrix Type, 2024 to 2034

Figure 119: East Asia Market Y-o-Y Growth (%) Projections by Matrix Type, 2024 to 2034

Figure 120: East Asia Market Value (US$ Million) Analysis by End-use Industry, 2019 to 2034

Figure 121: East Asia Market Volume (Tons) Analysis by End-use Industry, 2019 to 2034

Figure 122: East Asia Market Value Share (%) and BPS Analysis by End-use Industry, 2024 to 2034

Figure 123: East Asia Market Y-o-Y Growth (%) Projections by End-use Industry, 2024 to 2034

Figure 124: East Asia Market Attractiveness by Matrix Type, 2024 to 2034

Figure 125: East Asia Market Attractiveness by End-use Industry, 2024 to 2034

Figure 126: East Asia Market Attractiveness by Country, 2024 to 2034

Figure 127: Middle East and Africa Market Value (US$ Million) by Matrix Type, 2024 to 2034

Figure 128: Middle East and Africa Market Value (US$ Million) by End-use Industry, 2024 to 2034

Figure 129: Middle East and Africa Market Value (US$ Million) by Country, 2024 to 2034

Figure 130: Middle East and Africa Market Value (US$ Million) Analysis by Country, 2019 to 2034

Figure 131: Middle East and Africa Market Volume (Tons) Analysis by Country, 2019 to 2034

Figure 132: Middle East and Africa Market Value Share (%) and BPS Analysis by Country, 2024 to 2034

Figure 133: Middle East and Africa Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034

Figure 134: Middle East and Africa Market Value (US$ Million) Analysis by Matrix Type, 2019 to 2034

Figure 135: Middle East and Africa Market Volume (Tons) Analysis by Matrix Type, 2019 to 2034

Figure 136: Middle East and Africa Market Value Share (%) and BPS Analysis by Matrix Type, 2024 to 2034

Figure 137: Middle East and Africa Market Y-o-Y Growth (%) Projections by Matrix Type, 2024 to 2034

Figure 138: Middle East and Africa Market Value (US$ Million) Analysis by End-use Industry, 2019 to 2034

Figure 139: Middle East and Africa Market Volume (Tons) Analysis by End-use Industry, 2019 to 2034

Figure 140: Middle East and Africa Market Value Share (%) and BPS Analysis by End-use Industry, 2024 to 2034

Figure 141: Middle East and Africa Market Y-o-Y Growth (%) Projections by End-use Industry, 2024 to 2034

Figure 142: Middle East and Africa Market Attractiveness by Matrix Type, 2024 to 2034

Figure 143: Middle East and Africa Market Attractiveness by End-use Industry, 2024 to 2034

Figure 144: Middle East and Africa Market Attractiveness by Country, 2024 to 2034

Frequently Asked Questions

What is China’s Market Outlook?

The market in China is expected to progress at a CAGR of 9.8% through the forecast period.

How large is the Global Market in 2024?

The global market is currently valued at around USD 56.7 billion in 2024.

Which Matrix Type Segment Contributes More to the Functional Composite Market?

Within the matrix type, the metal matrix segment is expected to register an 8.7% market CAGR from 2024 to 2034

What is the United States Market Outlook?

The United States accounts for around 9.1% of the global CAGR from 2024 to 2034.

What is the Global Market Projected Value for 2034?

The global market is set to reach a valuation of around USD 134 billion by the end of 2034.

What Was the Historical CAGR for the Global Market?

Demand for functional composites increased at a 10.9% CAGR from 2019 to 2023.

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Functional Composite Market