Recent research and development in Advanced Composite Material (ACM) industry has shown that it encompasses a wide diversity of potential products and applications in different fields. With many extra ACM-based products presently in their conceptual and developmental stages; and expected to be commercialized in the near future, the industry is poised for rapid growth and distinct competitive edge. In this regard, the article explores the general trends of the market, the growth and the rate of adoption of ACM technologies by customers. The research examines the strategies of adoption and skimming which companies have employed to obtain competitive edges in different market segments. The structuring of the market under various market segments is also examined. The article also looks at the positioning of players with respect to economies of scale and competitive advantages.