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Mexico Composite Market Size and Growth Overview (2025-2033)
Market Size in 2024: USD 995.04 Million
Market Forecast in 2033: USD 2,465.94 Million
Market Growth Rate 2025-2033: 9.50%
According to the latest report by IMARC Group, the composites market in Mexico reached USD 995.04 million in 2024. Looking ahead, the market is projected to reach USD 2,465.94 million by 2033, exhibiting a compound annual growth rate (CAGR) of 9.50% during the period 2025-2033.
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Growth has been driven by the automotive and transport industries, in which composites are used to improve performance, fuel efficiency, and safety. Electric vehicles benefit when they reduce weight because battery range and energy efficiency improve with that. Carbon fiber composites and fiberglass composites replace metals and plastics in body panels, interior trim, and EV battery enclosures. Composite materials with high performance offer a reduction in vehicle mass and carbon footprint. They help global sustainability. In 2024, sales in Mexico of electric vehicles and plug-in hybrid electric vehicles rose to 69,713, according to the Electromovilidad Association, an increase of 83.8 percent from the previous year.
As a response, Mexico launched its National Electricity Initiative (2025-2030). The initiative is one of Mexico's largest energy projects, consisting of 51 renewable energy plants with a total capacity of 23 GW and an investment value of 22.3 billion USD. The initiative includes investment in solar, wind, and natural gas power plants. As one of the leading automotive manufacturing markets in the world, Mexico is experiencing strong growth in the use of composites, and this is likely to continue as the automotive industry moves towards greener, lighter transport. High strength-to-weight ratio, corrosion resistance, ease of design, and relative weight savings are some of the reasons the construction and infrastructure industry has begun to use composites for applications ranging from bridges to building reinforcement.
We explore the factors propelling the Mexico Composite Market growth, including technological advancements, consumer behaviors, and regulatory changes.
Mexico Composite Industry Segmentation:
The report has segmented the market into the following categories:
Breakup by Product:
Breakup by Manufacturing Process:
Breakup by Application:
Breakup by Region:
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Competitive Landscape:
The market research report offers an in-depth analysis of the competitive landscape, covering market structure, key player positioning, top winning strategies, a competitive dashboard, and a company evaluation quadrant. Additionally, detailed profiles of all major companies are included.
Key highlights of the Report:
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