Functional Composites Market Size, Share, Industry, Forecast and outlook (2023-2030)

The global functional composites market is projected to grow at a CAGR of 7.5% from 2023 to 2030, driven by rising demand in aerospace, automotive, and construction industries.

The Asia Pacific region is the fastest-growing market for functional composites, fueled by the presence of major economies like China and India with increasing demand for lightweight and efficient materials.

Leading players in the global functional composites market include Toray Industries, Owens Corning, Hexcel Corporation, 3M Company, and 3A Composites, among others.

Lack of standardization within the industry and fluctuating raw material prices are some of the major challenges hindering the growth of the functional composites market.