The report "Automotive Composites Market by Fiber Type (Glass, Carbon), Resin Type (Thermoset, Thermoplastic), Manufacturing Process (Compression Molding, Injection Molding, Rtm), Application, Vehicle Type, & Region - Global Forecast to 2034", size is expected to reach USD 37.54 billion in 2034 from USD 9.69 billion in 2024, at a CAGR of 14.5% from 2024 to 2034.
Browse in-depth TOC on "Automotive Composites Market"
391 – Tables
73 – Figures
302 – Pages
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The demand for automotive composites is driven by growing government focus and initiatives aiming to reduce the carbon emission along with high shift towards the electric vehicles across the globe. The growing adoption of electric vehicles and fuel-efficient vehicles are expected to fuel the demand for automotive composites from various applications. Stricter environmental laws about the automotive emissions are effectively promoting the high usage of composites across the world.
Carbon fiber type is expected to grow with highest CAGR in automotive composites market during the forecasted period.
The automotive composites market is segmented based on the fiber type into glass fiber, carbon fiber and other fibers that includes aramid, basalt, natural and hybrid fibers. As compared to glass fibers, carbon fibers are 30% lighter in weight and also offer almost double strength. Due to this impressive strength -to-weight ratio, carbon fiber composites are estimated to be fastest-growing segment based on the fiber type. Carbon fiber composites helps to reduce carbon emission and footprint of automotive by making them more environment friendly as compared to other gasoline-powered vehicles.
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Thermoplastic resins segment is expected to grow with highest CAGR in automotive composites market during the forecasted period.
The automotive composites market is segmented based on resin type. Thermoplastic resins are expected to show highest growth due to recyclability. Even though thermoplastic resins are considered to be ecofriendly, thermoset resins accounts for larger share in the global automotive composites market. These resins can be easily combined with continuous fibers to create structural composite products that offers several key advantages. Thermoplastic automotive composites can be reformed and reshaped efficiently, making them easily recyclable.
Asia Pacific region dominated the global automotive composites market in terms of value
In terms of value, Asia Pacific accounted for the largest market share in the global automotive composites market, in 2023. The region is a hub of many major automakers. China is the largest manufacturer of vehicles across the world. The demand for automotive composites is showing significant growth in the region due to the growing need for eco-friendly, lightweight, and fuel-efficient vehicles. Automakers are focusing on manufacturing lightweight car bodies owing to various emission norms imposed by the government. The automotive composites market in Asia Pacific region has presence of many well-established suppliers for raw materials, composite manufacturers and OEMs.
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Key players
Prominent companies include Toray Industries, Inc. (Japan), SGL Carbon (Germany), POLYTEC HOLDING AG, ElringKlinger AG (Germany), Syensqo (Belgium), HENGRUI CORPORATION (HRC) (China), Exel Composites (Finland), Teijin Limited (Japan), Mitsubishi Chemical Group Corporation (Japan), Piran Advanced Composites (UK), IDI Composites International (US), and Röchling SE & Co. KG (Germany) and among others.
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The Global Automotive Composites Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026 gives an evaluation of the market developments based on historical studies and comprehensive research respectively.
The market segments are also provided with an in-depth outlook of the competitive landscape and a listing of the profiled key players.Automotive composites are the composite materials used in the manufacturing of automotive providing them strength and resistance from adverse conditions.
In the automotive industry, the composites not only help in making groundbreaking designs but they also help in reducing the weight of the vehicle yet, maintaining the integrity of their structure.
They possess a variety of features such as lightweight, cost-effectiveness and eco-friendliness, corrosion-resistance, weather-resistance, dimensional-stability, low thermal conductivity, low coefficient of thermal expansion, radar transparency, non-magnetic nature, high impact strength, high dielectric strength, low maintenance, and long term durability.From a broad perspective, automotive composites find application in body structures (internal and external), powertrain components, suspension components, electrical and alternative vehicle components.
The Asia Pacific followed by North America and Europe are the major markets for automotive composites.
China, USA, Japan, and Germany are the present global leaders of the automotive composites market.Browse the complete Global Automotive Composites Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026 @ https://www.decisiondatabases.com/ip/148-automotive-composites-market-reportCompanies leading the automotive composites market include:Toray Industries Inc.Owens CorningJohns ManvilleSGL GroupCytec market Industries IncKoninklijke Ten Cate nvNippon Sheet Glass CoJushi Group Co. Ltd.Teijin LimitedSEGMENTATION IN REPORTS:Automotive Composites By Types Of VehiclesCarsTrucks And TrailersBusesOthers (2 wheelers etcAutomotive Composites By Types:Polymer Matrix CompositesMetal Matrix CompositesCeramic Matrix CompositesAutomotive Composites By Applications:Body Structures (Exterior And Interior)Powertrain ComponentsSuspension ComponentsElectrical and Alternative Vehicle ComponentsAutomotive Composites By Geography:North AmericaEuropeAsia PacificLatin AmericaMEADownload Free Sample Report of Global Automotive Composites Market @ https://www.decisiondatabases.com/contact/download-sample-148The Global Automotive Composites Market has been exhibited in detail in the following chapters –Chapter 1 Automotive Composites Market PrefaceChapter 2 Executive SummaryChapter 3 Automotive Composites Industry AnalysisChapter 4 Automotive Composites Market Value Chain AnalysisChapter 5 Automotive Composites Market Analysis By Types Of VehiclesChapter 6 Automotive Composites Market Analysis By TypesChapter 7 Automotive Composites Market Analysis By ApplicationsChapter 8 Automotive Composites Market Analysis By GeographyChapter 9 Competitive Landscape Of Automotive Composites CompaniesChapter 10 Company Profiles Of Automotive Composites IndustryPurchase the complete Global Automotive Composites Market Research Report @ https://www.decisiondatabases.com/contact/buy-now-148Other Reports by DecisionDatabases.com:Global Lightweight Composites Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026Global High Temperature Composites Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026Global Advanced Functional Composites Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026About-Us:DecisionDatabases.com is a global business research reports provider, enriching decision makers and strategists with qualitative statistics.
