Textile Composites Market Expected to Reach $14.2 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Textile Composites Market," The textile composites market was valued at $7.4 billion in 2022, and is estimated to reach $14.2 billion by 2032, growing at a CAGR of 6.9% from 2023 to 2032.

Textile composites refer to materials that combine textiles (fibrous structures) with other materials to create a hybrid material with enhanced properties. These composites leverage the strengths of both textile and non-textile components, resulting in materials that are lightweight, strong, durable, and often tailored for specific applications. Textile composites find applications in various industries, including aerospace, automotive, construction, sports and leisure, healthcare, and protective gear.    

 The aerospace industry is a major driver of the textile composites market. The demand for lightweight materials with high strength and durability is significant in aerospace applications, where reducing aircraft weight directly translates to fuel savings. Textile composites, especially those reinforced with carbon fibers, find extensive use in aircraft components, contributing to increase in fuel efficiency and improved performance. The growth of the aerospace industry, driven by increase in air travel and the development of new aircraft models, fuels the demand for textile composites.  

Furthermore, in the automotive sector, there is a growing emphasis on lightweighting to improve fuel efficiency and reduce carbon emissions. Textile composites offer an attractive solution for automotive manufacturers seeking materials that are not only lightweight but also provide high strength and impact resistance. The use of composites in automotive components, such as body panels and interior parts, contributes to overall vehicle weight reduction. As the automotive industry continues to prioritize sustainability and fuel efficiency, the demand for textile composites is expected to rise. 

In addition, rise in the construction sector is another significant driver of the textile composites market. Textile-reinforced concrete, for example, is gaining popularity as a construction material due to its ability to enhance the tensile strength of concrete structures. Textile composites offer advantages in terms of durability, flexibility, and corrosion resistance, making them suitable for a wide range of infrastructure applications. As global infrastructure development projects increase, so does the demand for innovative and high-performance materials like textile composites.  

However, recyclability and end-of-life considerations of textile composites pose challenges to their sustainable use. Many composite materials are difficult to recycle due to the combination of different materials and the complex manufacturing processes involved. As a result, there is a growing concern about the environmental impact of composite waste. Strategies for the recycling and disposal of textile composites are crucial to mitigate this challenge. Research is ongoing to develop more environmentally friendly composites and recycling technologies to address these concerns.  

On the contrary, the global shift towards sustainability creates a significant opportunity for textile composites. Manufacturers and consumers are increasingly conscious of the environmental impact of materials and products. Textile composites, particularly those incorporating natural fibers and eco-friendly resins, offer a sustainable alternative to traditional materials. Catering to a growing market of environmentally conscious consumers and aligning with corporate sustainability goals offers growth opportunities for the market. Continued R&D in green composites further enhances this opportunity. 

The global textile composites market is segmented on the basis of fiber type, textile type, application, and region. By fiber type, the market is segregated into carbon fiber, glass fiber, aramid fiber, polyethylene fiber (UHMWPE), basalt fiber, and others. The carbon fiber segment dominated the global textile composites market share in terms of revenue in 2022 growing at a CAGR of 7.0%. The aerospace industry is a major consumer of carbon fiber. The material's lightness and strength are particularly advantageous for aircraft components, leading to fuel efficiency improvements and enhanced performance. Carbon fiber composites are used in components like wings, fuselages, and structural elements.  

By textile type, the market is segregated into woven and non-woven. The woven segment is projected to grow at a highest CAGR during the forecast period. The weaving process allows for the customization of mechanical properties by varying the weave pattern and fiber orientation. Engineers can design woven composites with specific strength, stiffness, and flexibility tailored to the requirements of a particular application.  

By application, the market is divided into automotive, aerospace, construction, marine, sports equipment, industrial insulation, and others. The aerospace segment dominated the global market, in terms of revenue in 2022.  

Region-wise, the textile composites market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The composite textiles market size is projected to grow at the highest CAGR during the forecast period and accounted for a major market share in 2022. Textile composites are designed to have excellent durability and fatigue resistance. This is particularly important in aerospace applications, where structures are subjected to cyclic loading and must maintain their structural integrity over the lifespan of the aircraft.   

Key players operating in the global textile composites market include Chomarat, SAERTEX Group, BGF Industries, Sigmatex, TORAY INDUSTRIES, INC., HYOSUNG TNC, TEIJIN LIMITED, Owens Corning, Hexcel Corporation, and Composite Fabrics of America. 

Key Findings Of The Study:

• By fiber type, the carbon fiber segment is the most lucrative segment, in terms of revenue, registering a CAGR of 7.0% from 2023 to 2032.  
• By textile type, the woven segment is estimated to register the highest growth rate, in terms of revenue, from 2023 to 2032.  
• By application, the aerospace segment is the fastest growing segment from 2023 to 2032.  
• By region, Asia-Pacific garnered the highest share of 32.4% in 2022, in terms of revenue, growing at a CAGR of 7.6%.