Malleable thermoplastic composite materials are provided. More specifically, malleable thermoplastic composite materials made from thermoplastic polymers having low molecular weight and particulate material are provided for malleable composites having high compression set. Alternatively, malleable composite blends of two or more thermoplastic polymers are provided wherein at least one thermoplastic polymer has a low molecular weight. Further, the malleable thermoplastic composites may be blended with high specific gravity particulate material to form high specific gravity composites that exhibit malleable characteristics.