Latest Update: Impact of current COVID-19 situation has been considered in this report while making the analysis.
Global Functional Composites Market by Type (Metal Matrix Composites, Polymer Matrix Composites), By Application (Aerospace & Defense, Wind Energy, Transportation, Building, Consumer Goods & Electronics, Others) And By Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030-report

Global Functional Composites Market by Type (Metal Matrix Composites, Polymer Matrix Composites), By Application (Aerospace & Defense, Wind Energy, Transportation, Building, Consumer Goods & Electronics, Others) And By Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

Report ID: 130563 3300 Chemical & Material 377 232 Pages 4.8 (43)

Market Overview:

The global functional composites market is expected to grow at a CAGR of 7.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for lightweight and high-performance materials across different industries. In addition, the growing awareness about the benefits of using functional composites is also contributing to the growth of this market. The global functional composites market can be segmented on the basis of type, application, and region. On the basis of type, it can be divided into metal matrix composites (MMCs), polymer matrix composites (PMCs), and ceramic matrix composites (CMCs). MMCs are expected to lead the global functional composite market in terms of revenue by 2030 owing to their superior properties such as high strength-to-weight ratio and thermal stability. PMCs are projected to grow at a higher CAGR than other types during 2018–2030 due their low weight and corrosion resistance properties which make them suitable for various applications such as transportation, aerospace & defense, wind energy etc. In terms of application, aerospace & defense is expected to account for a major share in terms revenue contribution by 2030 followed by transportation sector . The use if Functional Composites in these sectors is mainly driven due ot thier advantages over traditional materials with respect tot weight , stiffness , durability etc .

Global Functional Composites Industry Outlook

Product Definition:

Functional composites are materials that have been engineered to combine the best properties of more than one material into a single composite material. This can be done by combining two or more materials with different chemical and physical properties, or by combining fibers and matrix materials in specific ways to create specific desired properties. The benefits of using functional composites include lighter weight, increased strength and stiffness, improved corrosion resistance, and better thermal insulation.

Metal Matrix Composites:

Metal Matrix Composites (MMC) are metal composites made by binding together two or more metals with the help of an adhesive. The most common types of MMCs include stainless steel and nickel-based MMCs. Stainless steel is a popular choice among end-users due to its high strength, corrosion resistance, durability, and easy availability.

Polymer Matrix Composites:

Polymer matrix composites are materials that are reinforced with fibers, which can be synthetic or natural. The product is gaining popularity in the automotive and construction industries owing to its ability to reduce weight, increase strength, and improve performance. Polymer matrix composites have a wide range of applications including aircraft components & interior parts; automobile body parts; wind turbine blades & power generator housing; marine structures & boats; sports equipment frames and bicycle components among others.

Application Insights:

Aerospace & defense was the largest application segment in 2017 and is expected to maintain its lead over the forecast period. The demand for these composites in this application segment is projected to increase significantly owing to their ability to reduce weight and cost of aircraft while maintaining high strength. In addition, they are also used in applications such as landing gear systems, nacelles and fuselage sections, leading edges of wings, empennage or tail surfaces among others.

Functionalized metal matrix composites (FMLC) are gaining popularity as a replacement for traditional plastics used in automotive body panels due to their superior mechanical properties coupled with good aesthetics. These products can be molded into complex shapes required by the automobile industry along with providing better impact resistance than conventional plastic counterparts at a reduced weight compared with steel or aluminum alternatives.

The wind energy sector is one of the prominent end users of functional composite materials due largely it being lightweight compared with other structural components such as towers.

Regional Analysis:

Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The growth of this region can be attributed to rising product demand from developing countries such as India, China, and Japan. In addition, increasing defense spending by various governments across Asia Pacific is likely to drive industry expansion over the next eight years.

The European regional market accounted for a significant share in terms of volume owing to high product adoption in wind energy applications. However, North America may emerge as a potential destination for functional composites manufacturing companies looking for higher sales volumes of aircraft parts and other transportation equipment that require metal matrix composite components or polymer matrix composite components due to stringent regulations on automotive fuel economy standards set by government agencies such as National Highway Traffic Safety Administration (NHTSA), Environmental Protection Agency (EPA) among others are likely to play an important role in driving industry expansion over the next eight years.

Growth Factors:

  • Increasing demand for lightweight and high-performance materials in automotive and aerospace industries
  • Growing popularity of composites in wind energy sector
  • Rising demand for advanced composites in construction and infrastructure industry
  • Proliferation of 3D printing technology for manufacturing functional composites parts
  • Growing application of functional composites in medical implants and prosthetics

Scope Of The Report

Report Attributes

Report Details

Report Title

Functional Composites Market Research Report

By Type

Metal Matrix Composites, Polymer Matrix Composites

By Application

Aerospace & Defense, Wind Energy, Transportation, Building, Consumer Goods & Electronics, Others

By Companies

3M, 3A Composites, Air Products and Chemicals, Bayer, E. I. Du Pont De Nemours, Ametek, Applied Materials, Kyocera, Momentive Performance Materials, Materion

Regions Covered

North America, Europe, APAC, Latin America, MEA

Base Year


Historical Year

2019 to 2020 (Data from 2010 can be provided as per availability)

Forecast Year


Number of Pages


Number of Tables & Figures


Customization Available

Yes, the report can be customized as per your need.

Global Functional Composites Market Report Segments:

The global Functional Composites market is segmented on the basis of:


Metal Matrix Composites, Polymer Matrix Composites

The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.


Aerospace & Defense, Wind Energy, Transportation, Building, Consumer Goods & Electronics, Others

The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.

Some of the companies that are profiled in this report are:

  1. 3M
  2. 3A Composites
  3. Air Products and Chemicals
  4. Bayer
  5. E. I. Du Pont De Nemours
  6. Ametek
  7. Applied Materials
  8. Kyocera
  9. Momentive Performance Materials
  10. Materion

Global Functional Composites Market Overview

Highlights of The Functional Composites Market Report:

  1. The market structure and projections for the coming years.
  2. Drivers, restraints, opportunities, and current trends of market.
  3. Historical data and forecast.
  4. Estimations for the forecast period 2030.
  5. Developments and trends in the market.
  6. By Type:

    1. Metal Matrix Composites
    2. Polymer Matrix Composites
  1. By Application:

    1. Aerospace & Defense
    2. Wind Energy
    3. Transportation
    4. Building
    5. Consumer Goods & Electronics
    6. Others
  1. Market scenario by region, sub-region, and country.
  2. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
  3. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
  4. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Functional Composites Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.

Regional Analysis

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • Latin America

Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.

The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.

How you may use our products:

  • Correctly Positioning New Products
  • Market Entry Strategies
  • Business Expansion Strategies
  • Consumer Insights
  • Understanding Competition Scenario
  • Product & Brand Management
  • Channel & Customer Management
  • Identifying Appropriate Advertising Appeals

Global Functional Composites Market Statistics

8 Reasons to Buy This Report

  1. Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
  2. Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
  3. Implemented Robust Methodology to Prepare the Report
  4. Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
  5. Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
  6. Provides Information About the Top-winning Strategies Implemented by Industry Players.
  7. In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
  8. Customization of the Report Available

Frequently Asked Questions?

Functional composites are materials that are composed of two or more different types of materials that have been combined to create a new material with unique properties. These materials can be blended together to create a variety of textures and colors, and they can be used in a variety of applications. Functional composites are often used in products such as aircrafts, cars, and medical devices because they offer benefits such as increased strength, durability, and flexibility.

Some of the key players operating in the functional composites market are 3M, 3A Composites, Air Products and Chemicals, Bayer, E. I. Du Pont De Nemours, Ametek, Applied Materials, Kyocera, Momentive Performance Materials, Materion.

The functional composites market is expected to grow at a compound annual growth rate of 7.5%.

1. Executive Summary

2. Assumptions and Acronyms Used

3. Research Methodology

4. Functional Composites Market Overview
   4.1. Introduction
      4.1.1. Market Taxonomy
      4.1.2. Market Definition
   4.2. Macro-Economic Factors
      4.2.1. Industry Outlook
   4.3. Functional Composites Market Dynamics
      4.3.1. Market Drivers
      4.3.2. Market Restraints
      4.3.3. Opportunity
      4.3.4. Market Trends
   4.4. Functional Composites Market - Supply Chain
   4.5. Global Functional Composites Market Forecast
      4.5.1. Functional Composites Market Size (US$ Mn) and Y-o-Y Growth
      4.5.2. Functional Composites Market Size (000’ Units) and Y-o-Y Growth
      4.5.3. Functional Composites Market Absolute $ Opportunity

5. Global Functional Composites Market Analysis and Forecast by Type
   5.1. Market Trends
   5.2. Introduction
      5.2.1. Basis Point Share (BPS) Analysis by Type
      5.2.2. Y-o-Y Growth Projections by Type
   5.3. Functional Composites Market Size and Volume Forecast by Type
      5.3.1. Metal Matrix Composites
      5.3.2. Polymer Matrix Composites
   5.4. Absolute $ Opportunity Assessment by Type
   5.5. Market Attractiveness/Growth Potential Analysis by Type

6. Global Functional Composites Market Analysis and Forecast by Application
   6.1. Market Trends
   6.2. Introduction
      6.2.1. Basis Point Share (BPS) Analysis by Application
      6.2.2. Y-o-Y Growth Projections by Application
   6.3. Functional Composites Market Size and Volume Forecast by Application
      6.3.1. Aerospace & Defense
      6.3.2. Wind Energy
      6.3.3. Transportation
      6.3.4. Building
      6.3.5. Consumer Goods & Electronics
      6.3.6. Others
   6.4. Absolute $ Opportunity Assessment by Application
   6.5. Market Attractiveness/Growth Potential Analysis by Application

7. Global Functional Composites Market Analysis and Forecast by Sales Channel
   7.1. Market Trends
   7.2. Introduction
      7.2.1. Basis Point Share (BPS) Analysis by Sales Channel 
      7.2.2. Y-o-Y Growth Projections by Sales Channel
   7.3. Functional Composites Market Size and Volume Forecast by Sales Channel 
      7.3.1. Manufacturer/Distributor/Service Provider
      7.3.2. Aftermarket
   7.4. Absolute $ Opportunity Assessment by Sales Channel
   7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel

8. Global Functional Composites Market Analysis and Forecast by Region
   8.1. Market Trends
   8.2. Introduction
      8.2.1. Basis Point Share (BPS) Analysis by Region
      8.2.2. Y-o-Y Growth Projections by Region
   8.3. Functional Composites Market Size and Volume Forecast by Region
      8.3.1. North America
      8.3.2. Latin America
      8.3.3. Europe
      8.3.4. Asia Pacific
      8.3.5. Middle East and Africa (MEA)
   8.4. Absolute $ Opportunity Assessment by Region
   8.5. Market Attractiveness/Growth Potential Analysis by Region
   8.6. Global Functional Composites Demand Share Forecast, 2019-2029

9. North America Functional Composites Market Analysis and Forecast
   9.1. Introduction
      9.1.1. Basis Point Share (BPS) Analysis by Country
      9.1.2. Y-o-Y Growth Projections by Country
   9.2. North America Functional Composites Market Size and Volume Forecast by Country
      9.2.1. U.S.
      9.2.2. Canada
   9.3. Absolute $ Opportunity Assessment by Country
   9.4. North America Functional Composites Market Size and Volume Forecast by Application
      9.4.1. Aerospace & Defense
      9.4.2. Wind Energy
      9.4.3. Transportation
      9.4.4. Building
      9.4.5. Consumer Goods & Electronics
      9.4.6. Others
   9.5. Basis Point Share (BPS) Analysis by Application
   9.6. Y-o-Y Growth Projections by Application
   9.7. North America Functional Composites Market Size and Volume Forecast by Type
      9.7.1. Metal Matrix Composites
      9.7.2. Polymer Matrix Composites
   9.8. Basis Point Share (BPS) Analysis by Type
   9.9. Y-o-Y Growth Projections by Type
   9.10. Market Attractiveness/Growth Potential Analysis
      9.10.1. By Country
      9.10.2. By Product Type
      9.10.3. By Application
      9.10.4. By Sales Channel
   9.11. North America Functional Composites Demand Share Forecast, 2019-2029

10. Latin America Functional Composites Market Analysis and Forecast
   10.1. Introduction
      10.1.1. Basis Point Share (BPS) Analysis by Country
      10.1.2. Y-o-Y Growth Projections by Country
      10.1.3. Latin America Average Pricing Analysis
   10.2. Latin America Functional Composites Market Size and Volume Forecast by Country
      10.2.1. Brazil
      10.2.2. Mexico
      10.2.3. Rest of Latin America
   10.3. Absolute $ Opportunity Assessment by Country
   10.4. Latin America Functional Composites Market Size and Volume Forecast by Application
      10.4.1. Aerospace & Defense
      10.4.2. Wind Energy
      10.4.3. Transportation
      10.4.4. Building
      10.4.5. Consumer Goods & Electronics
      10.4.6. Others
   10.5. Basis Point Share (BPS) Analysis by Application
   10.6. Y-o-Y Growth Projections by Application
   10.7. Latin America Functional Composites Market Size and Volume Forecast by Type
      10.7.1. Metal Matrix Composites
      10.7.2. Polymer Matrix Composites
   10.8. Basis Point Share (BPS) Analysis by Type
   10.9. Y-o-Y Growth Projections by Type
   10.10. Market Attractiveness/Growth Potential Analysis
      10.10.1. By Country
      10.10.2. By Product Type
      10.10.3. By Application
      10.10.4. By Sales Channel
   10.11. Latin America Functional Composites Demand Share Forecast, 2019-2029

11. Europe Functional Composites Market Analysis and Forecast
   11.1. Introduction
      11.1.1. Basis Point Share (BPS) Analysis by Country
      11.1.2. Y-o-Y Growth Projections by Country
      11.1.3. Europe Average Pricing Analysis
   11.2. Europe Functional Composites Market Size and Volume Forecast by Country
      11.2.1. Germany
      11.2.2. France
      11.2.3. Italy
      11.2.4. U.K.
      11.2.5. Spain
      11.2.6. Russia
      11.2.7. Rest of Europe
   11.3. Absolute $ Opportunity Assessment by Country
   11.4. Europe Functional Composites Market Size and Volume Forecast by Application
      11.4.1. Aerospace & Defense
      11.4.2. Wind Energy
      11.4.3. Transportation
      11.4.4. Building
      11.4.5. Consumer Goods & Electronics
      11.4.6. Others
   11.5. Basis Point Share (BPS) Analysis by Application
   11.6. Y-o-Y Growth Projections by Application
   11.7. Europe Functional Composites Market Size and Volume Forecast by Type
      11.7.1. Metal Matrix Composites
      11.7.2. Polymer Matrix Coposites
   11.8. Basis Point Share (BPS) Analysis by Type
   11.9. Y-o-Y Growth Projections by Type
   11.10. Market Attractiveness/Growth Potential Analysis
      11.10.1. By Country
      11.10.2. By Product Type
      11.10.3. By Application
      11.10.4. By Sales Channel
   11.11. Europe Functional Composites Demand Share, 2019-2029

12. Asia Pacific Functional Composites Market Analysis and Forecast
   12.1. Introduction
      12.1.1. Basis Point Share (BPS) Analysis by Country
      12.1.2. Y-o-Y Growth Projections by Country
      12.1.3. Asia Pacific Average Pricing Analysis
   12.2. Asia Pacific Functional Composites Market Size and Volume Forecast by Country
      12.2.1. China
      12.2.2. Japan
      12.2.3. South Korea
      12.2.4. India
      12.2.5. Australia
      12.2.6. Rest of Asia Pacific (APAC)
   12.3. Absolute $ Opportunity Assessment by Country
   12.4. Asia Pacific Functional Composites Market Size and Volume Forecast by Application
      12.4.1. Aerospace & Defense
      12.4.2. Wind Energy
      12.4.3. Transportation
      12.4.4. Building
      12.4.5. Consumer Goods & Electronics
      12.4.6. Others
   12.5. Basis Point Share (BPS) Analysis by Application
   12.6. Y-o-Y Growth Projections by Application
   12.7. Asia Pacific Functional Composites Market Size and Volume Forecast by Type
      12.7.1. Metal Matrix Composites
      12.7.2. Polymer Matrix Composites
   12.8. Basis Point Share (BPS) Analysis by Type
   12.9. Y-o-Y Growth Projections by Type
   12.10. Market Attractiveness/Growth Potential Analysis
      12.10.1. By Country
      12.10.2. By Product Type
      12.10.3. By Application
      12.10.4. By Sales Channel
   12.11. Asia Pacific Functional Composites Demand Share, 2019-2029

13. Middle East & Africa Functional Composites Market Analysis and Forecast
   13.1. Introduction
      13.1.1. Basis Point Share (BPS) Analysis by Country
      13.1.2. Y-o-Y Growth Projections by Country
      13.1.3. Asia Pacific Average Pricing Analysis
   13.2. Middle East & Africa Functional Composites Market Size and Volume Forecast by Country
      13.2.1. Saudi Arabia
      13.2.2. South Africa
      13.2.3. UAE
      13.2.4. Rest of Middle East & Africa (MEA)
   13.3. Absolute $ Opportunity Assessment by Country
   13.4. Middle East & Africa Functional Composites Market Size and Volume Forecast by Application
      13.4.1. Aerospace & Defense
      13.4.2. Wind Energy
      13.4.3. Transportation
      13.4.4. Building
      13.4.5. Consumer Goods & Electronics
      13.4.6. Others
   13.5. Basis Point Share (BPS) Analysis by Application
   13.6. Y-o-Y Growth Projections by Application
   13.7. Middle East & Africa Functional Composites Market Size and Volume Forecast by Type
      13.7.1. Metal Matrix Composites
      13.7.2. Polymer Matrix Composites
   13.8. Basis Point Share (BPS) Analysis by Type
   13.9. Y-o-Y Growth Projections by Type
   13.10. Market Attractiveness/Growth Potential Analysis
      13.10.1. By Country
      13.10.2. By Product Type
      13.10.3. By Application
      13.10.4. By Sales Channel
   13.11. Middle East & Africa Functional Composites Demand Share, 2019-2029

14. Competition Landscape
   14.1. Global Functional Composites Market: Market Share Analysis
   14.2. Functional Composites Distributors and Customers
   14.3. Functional Composites Market: Competitive Dashboard
   14.4. Company Profiles (Details – Overview, Financials, Developments, Strategy) 
      14.4.1. 3M Overview Financials Developments Strategic Outlook
      14.4.2. 3A Composites Overview Financials Developments Strategic Outlook
      14.4.3. Air Products and Chemicals Overview Financials Developments Strategic Outlook
      14.4.4. Bayer Overview Financials Developments Strategic Outlook
      14.4.5. E. I. Du Pont De Nemours Overview Financials Developments Strategic Outlook
      14.4.6. Ametek Overview Financials Developments Strategic Outlook
      14.4.7. Applied Materials Overview Financials Developments Strategic Outlook
      14.4.8. Kyocera Overview Financials Developments Strategic Outlook
      14.4.9. Momentive Performance Materials Overview Financials Developments Strategic Outlook
      14.4.10. Materion Overview Financials Developments Strategic Outlook
      14.4.11. COMPANY 11 Overview Financials Developments Strategic Outlook
      14.4.12. COMPANY 12 Overview Financials Developments Strategic Outlook
      14.4.13. COMPANY 13 Overview Financials Developments Strategic Outlook
      14.4.14. COMPANY 14 Overview Financials Developments Strategic Outlook
      14.4.15. COMPANY 15 Overview Financials Developments Strategic Outlook
      14.4.16. COMPANY 16 Overview Financials Developments Strategic Outlook
      14.4.17. COMPANY 17 Overview Financials Developments Strategic Outlook
      14.4.18. COMPANY 18 Overview Financials Developments Strategic Outlook
      14.4.19. COMPANY 19 Overview Financials Developments Strategic Outlook
      14.4.20. COMPANY 20 Overview Financials Developments Strategic Outlook

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