A composite wheel structure includes a single continuous fiber reinforcement layer extending axially between inner and outer ends of the wheel structure. The single fiber reinforcement layer is impregnated with different matrix materials at different axial portions of the reinforcement layer to account for specific locations where high strength or high temperature performance is needed, with other portions having different matrix materials where low temperature performance and/or low strength is sufficient. The matrix materials may be provided as separate resin films that are applied side-by-side on the single reinforcement layer, or they may be provided on a single resin film. The matrix materials may be applied to the reinforcement layer in a direct coating process. The reinforcement layer may be prepregged with the matrix materials prior to a wheel layup process, or the reinforcement layer and matrix materials may be consolidated by resin film infusion during the wheel layup process.