Mexico Composite Market

Mexico Composite Market Overview:

The Mexico composite market size reached USD 995.04 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 2,465.94 Million by 2033, exhibiting a growth rate (CAGR) of 9.50% during 2025-2033. The automotive and transportation sectors in Mexico are increasingly using composites for improved performance, fuel efficiency, and safety, especially in electric vehicles (EVs). Additionally, renewable energy projects, such as wind and solar power, are catalyzing the demand for composites in Mexico’s energy infrastructure. The Mexico composite market share is expected to expand significantly as these sectors continue to embrace composites for their advanced capabilities and sustainability benefits.

Mexico Composite Market Trends:

Expanding Applications in Renewable Energy

Increase in renewable energy initiatives, especially wind and solar power, is supporting the Mexico composite market growth. Materials like fiberglass and carbon fiber are vital in manufacturing wind turbine blades, providing significant advantages including strength, longevity, and corrosion resistance, which are necessary for effective energy production. These materials enable the production of lighter and longer blades, which excel at harnessing wind energy and enhancing overall turbine efficiency. Moreover, composites are widely utilized in the production of solar panel supports and frames, which need to withstand severe environmental conditions while preserving lightweight characteristics to facilitate easy installation and ensure durability over time. With Mexico's ongoing significant investment in renewable energy infrastructure, the need for composites in this industry is projected to increase swiftly. In 2025, Mexico launched its bold national electricity initiative (2025–2030), featuring 51 renewable energy projects that will add nearly 23 GW of new capacity, backed by a US$22.3 billion investment. This strategy emphasizes the growth of solar, wind, and natural gas facilities to enhance energy accessibility and sustainability nationwide. Mexico’s push for renewable energy development is catalyzing the demand for composite materials, driving further growth in the composite market and positioning it as a critical component in the country's transition to cleaner energy sources.

Increased Adoption in Automotive and Transportation Industries

The automotive and transportation industries in Mexico are progressively embracing composite materials due to their potential to improve vehicle performance, fuel efficiency, and safety. Composites play a vital role in decreasing vehicle weight, enhancing fuel efficiency, and reducing carbon emissions, supporting worldwide sustainability goals. As the demand for EVs increases and the automotive sector moves towards lightweight, environment-friendly options, the requirement for high-performance composites is on the rise. These materials are utilized in manufacturing car body parts, interior elements, and EV batteries, as they enhance performance and improve energy efficiency. In 2024, Mexico's automotive sector experienced a notable rise in the uptake of electric and plug-in hybrid vehicles (PHEVs), with sales totaling 69,713 units, reflecting an 83.8% growth compared to 2023, according to the Electro Mobility Association (EMA). This rising trend in EV sales underscores the growing need for lightweight materials, as EVs necessitate efficient, low-weight structures to improve battery performance and energy efficiency. As an important contributor to automotive manufacturing, Mexico is experiencing significant growth in composite usage, anticipated to persist as the automotive industry increasingly prioritizes eco-friendly and efficient transportation options. This change emphasizes the importance of composite materials in meeting the industry's objectives of minimizing environmental impact while ensuring high performance.

Mexico Composite Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country and regional levels for 2025-2033. Our report has categorized the market based on product, MFG process, and application.

Product Insights:

• Carbon Fiber
• Glass Fiber
• Others

The report has provided a detailed breakup and analysis of the market based on the product. This includes carbon fiber, glass fiber, and others.

MFG Process Insights:

• Layup
• Filament
• Injection Molding
• Pultrusion
• Compression Molding
• RTM
• Others

A detailed breakup and analysis of the market based on the MFG process have also been provided in the report. This includes layup, filament, injection molding, pultrusion, compression molding, RTM, and others.

Application Insights:

• Automotive and Transportation
• Electrical and Electronics
• Wind Energy
• Construction and Infrastructure
• Pipes and Tanks
• Marine
• Others

The report has provided a detailed breakup and analysis of the market based on the application. This includes automotive and transportation, electrical and electronics, wind energy, construction and infrastructure, pipes and tanks, marine, and others.

Regional Insights:

• Northern Mexico
• Central Mexico
• Southern Mexico
• Others

The report has also provided a comprehensive analysis of all the major regional markets, which include Northern Mexico, Central Mexico, Southern Mexico, and others.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

Mexico Composite Market News:

• In May 2025, Tata AutoComp Systems Ltd. and Katcon Global announced a joint venture in Mexico to manufacture advanced composite materials. The partnership aims to serve the North American market with lightweight solutions for vehicles and other sectors. This marks Tata AutoComp's first venture contributing core composite technology.

Mexico Composite Market Report Coverage:

Key Questions Answered in This Report:

• How has the Mexico composite market performed so far and how will it perform in the coming years?
• What is the breakup of the Mexico composite market on the basis of product?
• What is the breakup of the Mexico composite market on the basis of MFG process?
• What is the breakup of the Mexico composite market on the basis of application?
• What is the breakup of the Mexico composite market on the basis of region?
• What are the various stages in the value chain of the Mexico composite market? 
• What are the key driving factors and challenges in the Mexico composite market?
• What is the structure of the Mexico composite market and who are the key players?
• What is the degree of competition in the Mexico composite market? 

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Mexico composite market from 2019-2033.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the Mexico composite market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Mexico composite industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.