The Global Fiber Reinforced Plastics (FRP) Market was valued at USD 35.66 Billion in 2023 and is projected to reach USD 45.32 Billion by 2032, growing at a Compound Annual Growth Rate (CAGR) of 2.7% during the forecast period (2024–2032). This growth is fueled by surging demand from aerospace, automotive, and construction industries, along with accelerating adoption of lightweight, high-strength composite solutions.
As material science breakthroughs transform manufacturing paradigms, FRP composites are becoming mission-critical across industrial applications. In this analysis, we examine the Top 10 Companies in the Fiber Reinforced Plastics Industry—market leaders driving innovation in carbon fiber, glass fiber, and advanced polymer technologies.
🔟 10. SGL Carbon
Headquarters: Wiesbaden, Germany
Key Offering: Carbon fiber-reinforced composites
SGL Carbon specializes in engineered carbon fiber solutions for aerospace, automotive, and industrial applications, combining German precision engineering with materials expertise.
Innovation Highlights:
- Industry-first recycled carbon fiber technology
- Strategic EV component partnerships with BMW, Porsche
- 800+ material science patents
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9️⃣ 9. Mitsubishi Chemical Carbon Fiber and Composites
Headquarters: Tokyo, Japan
Key Offering: High-performance carbon fiber composites
Mitsubishi Chemical’s advanced carbon fiber materials power next-generation aircraft, wind turbines, and performance vehicles with industry-leading strength-to-weight ratios.
Innovation Highlights:
- Pyrofil® ultra-high modulus fibers
- Continuous fiber thermoplastic composites
8️⃣ 8. Hexcel Corporation
Headquarters: Stamford, Connecticut, USA
Key Offering: Aerospace composite solutions
Hexcel supplies advanced composite materials for 75% of modern commercial aircraft, driving aviation’s lightweight revolution.
Innovation Highlights:
- HexTow® carbon fiber technology
- Bio-derived epoxy systems
7️⃣ 7. Teijin Limited
Headquarters: Osaka, Japan
Key Offering: Carbon fibers and thermoplastic composites
Teijin’s materials innovation spans from aerospace to automotive applications, with breakthrough recycling technologies.
Innovation Highlights:
- Sereebo® thermoplastic CFRP
- Closed-loop carbon fiber recycling
Download FREE Sample Report: Fiber Reinforced Plastics (FRP) Market – View in Detailed Research Report
6️⃣ 6. Solvay
Headquarters: Brussels, Belgium
Key Offering: Advanced resin systems
Solvay develops high-performance polymer matrices that enable FRP applications from deep-sea exploration to space missions.
Innovation Highlights:
- 1,050°C resistant composite formulations
- Sustainable resin technologies
5️⃣ 5. Toray Industries
Headquarters: Tokyo, Japan
Key Offering: TORAYCA® carbon fiber products
Toray dominates global carbon fiber production with 40% market share, supplying Boeing, Airbus, and automotive OEMs.
Innovation Highlights:
- Mass production CFRP for automobiles
- Intermediate modulus fibers
4️⃣ 4. Hexion Inc.
Headquarters: Columbus, Ohio, USA
Key Offering: Epoxy resin systems
Hexion’s advanced epoxy formulations serve wind energy, aerospace, and automotive composite manufacturers.
Innovation Highlights:
- Bio-based epoxy technology
- Rapid-cure resin systems
3️⃣ 3. Owens Corning
Headquarters: Toledo, Ohio, USA
Key Offering: Glass fiber reinforcements
Owens Corning is the world’s second-largest fiberglass producer with 85+ years of materials innovation.
Innovation Highlights:
- Advanced sizing technologies
- Sustainable fiber production
2️⃣ 2. BASF SE
Headquarters: Ludwigshafen, Germany
Key Offering: Complete FRP solutions
BASF offers end-to-end composite solutions from fibers to resins, serving 90+ countries worldwide.
Innovation Highlights:
- Ultrasim® design technology
- Automotive CFRP mass production
1️⃣ 1. Jushi Group
Headquarters: Tongxiang, China
Key Offering: Glass fiber reinforcements
Jushi commands 23% global market share in fiberglass, producing 2 million tons annually across 10 countries.
Innovation Highlights:
- Continuous filament mat technology
- High-performance E-glass formulations
Read Full Report: Fiber Reinforced Plastics (FRP) Market – View in Detailed Research Report
🌍 Outlook: The FRP Industry’s Sustainable Transformation
The composites sector stands at an inflection point, with material science innovations enabling revolutionary applications while addressing environmental concerns.
📈 Key Market Trends:
- Mass production CFRP for electric vehicles
- 100+ meter wind turbine blade development
- Automated composite manufacturing
- Bio-based and recyclable composites
These market leaders are not just shaping today’s FRP landscape – they’re engineering the sustainable material solutions that will define tomorrow’s industries.
Read Full Report: Fiber Reinforced Plastics (FRP) Market – View in Detailed Research Report