The Thermoplastic Composites Market is estimated to be worth USD 29.60 billion in 2025, projected to reach USD 54.03 billion by 2033 with a CAGR of 7.83%. Growth is driven by increased use in automotive and aerospace industries for lightweight, recyclable materials.

In the U.S., the market size is estimated at USD 5.23 billion in 2025, expected to grow at a CAGR of 8.36% reaching USD 9.94 billion by 2033. Increased orders from automotive and aerospace industries are fueling market expansion.

The demand for lightweight, recyclable materials in automotive and aerospace applications is boosting market growth globally. Thermoplastic composites offer specific stiffness, corrosion resistance, and recyclability, aligning with emission regulations and industry preferences over thermosets.

The market is dominated by major players like BASF, Celanese, DSM, DuPont, and others. These companies play a significant role in the development and expansion of the thermoplastic composites market.

In terms of segmentation, polypropylene (PP) leads by matrix type, automotive & transportation dominates by application, sheets & plates lead by form, and glass fiber holds the majority share by reinforcement type in the thermoplastic composites market.

Asia Pacific leads the market in 2025, with North America expected to be the fastest-growing region from 2026-2033. The strong automotive and industrial sectors in Asia Pacific and the development in North America’s aerospace, defense, and automotive industries are driving market growth.

Recent developments include BASF’s recycled thermoplastic products and Celanese’s expanded partnership with Biesterfeld for long-fiber reinforced thermoplastics. These innovations enhance market access and sustainability in the thermoplastic composites industry.

Read more at GlobeNewswire: Thermoplastic Composites Market Size is Poised to Reach USD