The global composite materials market has been steadily expanding, driven by rising demand from a variety of end-use industries, including automotive, aircraft, construction, and renewable energy. Rising demand for lightweight and high-performance materials, rapid industrialization, urbanization, and increased investment are the other key factors driving the market. Composite manufacturers face intense rivalry because the industry is defined by the presence of multiple international companies. The market is moderately fragmented, as several firms compete for market share. Toray, Owens Corning, CNBM, Syensqo, and Materion are some of the market's major players. These companies are always investing in R&D to innovate and diversify their product offerings.