Why composite Is Trending Today?

Lucintel, a global management consulting and market research firm, predicts that the thermoplastic composites market will reach $32 billion by 2031. The company also forecasts steady growth in the South African UPR market, with a compound annual growth rate (CAGR) of 2% from 2025 to 2031. Additionally, Lucintel anticipates that the short fiber thermoplastic market will reach $29.0 billion by 2031, while the sheet molding compound market is expected to reach $4.0 billion in the same year. In the recycled materials sector, Lucintel forecasts that the recycled carbon fiber market will reach $102 million by 2031. Turning to resin markets, Lucintel predicts that the global polyurethane resin in the composite market will reach $197 million by 2031, with the global polypropylene resin in the composites material market expected to reach $1,329 million in the same year. Furthermore, Lucintel anticipates that the global polyamide resin in the composites industry market will reach $9 billion by 2031, and the para aramid fiber market is expected to reach $3.0 billion by the same year. In the fiber market, Lucintel forecasts that the long fiber thermoplastics market will reach $1,149 million by 2031, and the global high performance glass fiber market is expected to grow with a CAGR of 8% from 2024 to 2031. Regionally, Lucintel predicts that the Indian composites market will reach $3 billion by 2031, and the global Latin American UPR market is expected to grow with a CAGR of 2% from 2024 to 2031.