Global Automotive Composite
Market Report
2024
Automotive Composites Market size is USD 7987.1 million in 2024 and will expand at a compound annual growth rate (CAGR) of 9.81% from 2024 to 2031.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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According to Cognitive Market Research, the global Automotive Composites market size will be USD 7987.1 million in 2024 and will expand at a compound annual growth rate (CAGR) of 9.81% from 2024 to 2031.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Automotive Composite Market Sales Revenue 2024 | $ 7987.1 Million |
Global Automotive Composite Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 9.81% |
Market Split by Fibre |
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Market Split by Resin |
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Market Split by Application |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Report scope is customizable as we have a huge database of Automotive Composite industry. We can deliver an exclusive report Edition/Consultation as per your data requirements. Request for your Free Sample Pages.
Automotive Composite Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
The automotive composites market represents a burgeoning sector within the automotive industry, characterized by the utilization of lightweight composite materials in vehicle manufacturing. Composites, typically made from a combination of fibers (such as carbon, glass, or aramid) and a resin matrix, offer exceptional strength-to-weight ratios, corrosion resistance, and design flexibility. As the automotive industry increasingly focuses on minimizing vehicle weight to enhance fuel efficiency and meet stringent emissions regulations, composites have emerged as a compelling solution. They enable automakers to achieve significant weight savings while maintaining structural integrity and safety standards. Moreover, composites facilitate the production of complex shapes and designs, enhancing aerodynamics and enabling innovative vehicle styling. With the growing demand for electric vehicles (EVs) and the ongoing trend towards sustainability, the Automotive Composites Market is poised for substantial growth, driving advancements in materials technology and reshaping the automotive landscape.
Performance and Design Flexibility to Increase the Demand Globally - Composites offer unparalleled design flexibility and performance capabilities. Their inherent strength-to-weight ratio allows for the creation of structurally efficient and aerodynamic vehicle components, enhancing overall vehicle performance and safety. Moreover, composites can be molded into complex shapes, enabling innovative designs that meet both aesthetic and functional requirements. This versatility drives adoption across various automotive segments, from luxury vehicles to electric cars, where design differentiation and performance optimization are paramount. Fuel Efficiency and Emissions Reduction- Automotive composites offer significant weight savings when compared to traditional materials like steel and aluminum. Lighter vehicles consume less fuel, resulting in improved fuel efficiency and reduced emissions.
Cost Constraints- Automotive composites often incur higher manufacturing costs compared to traditional materials like steel or aluminum, limiting their widespread adoption, especially in mass-market vehicles. Limited Production Capacity- Insufficient production capacity for automotive composites hinders their scalability and availability, slowing down their integration into vehicle manufacturing processes.
We have various report editions of Automotive Composite Market, hence please contact our sales team and author directly to obtain/purchase a desired Edition eg, Global Edition, Regional Edition, Country Specific Report Edition, Company Profiles, Forecast Edition, etc. Request for your Free Sample PDF/Online Access.
In February 2022, Teijin Automotive Technologies commenced the commercial operation of its novel manufacturing facility in Wujin National High-Tech Industrial Zone, China. The company also started the construction of its third plant in China to cater to the surging demand for electric vehicles.
(Source: https://www.teijinautomotive.com/)
Top Companies Market Share in Automotive Composite Industry: (In no particular order of Rank)
If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.
According to Cognitive Market Research, North America dominated the market in 2024. It accounted for around 40% of the global revenue as the region boasts a robust automotive industry with a high demand for lightweight materials to improve fuel efficiency and meet the stringent emissions regulations. Further, North America has advanced manufacturing capabilities and a strong focus on innovation, driving the development and adoption of composite materials in vehicle production. Additionally, the presence of primary automotive manufacturers and a supportive regulatory environment further contribute to North America's dominance in the automotive composites market.
Asia-Pacific stands out as the fastest-growing region in the Automotive Composites market due to the region's burgeoning automotive industry, particularly in countries like China, Japan, South Korea, and India, which drives the demand for lightweight materials to enhance fuel efficiency and meet emission regulations. Additionally, the surging adoption of electric vehicles (EVs) in the Asia Pacific accelerates the use of composites to reduce vehicle weight and extend battery range. Moreover, supportive government initiatives and investments in infrastructure further stimulate market growth.
The current report Scope analyzes Automotive Composite Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only. To learn more about geographical trends request the free sample pages. Contact US!
Global Automotive Composite Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Automotive Composite Industry growth. Automotive Composite market has been segmented with the help of its Fibre, Resin Application, and others. Automotive Composite market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
Based on present and future trends, the market size is estimated from 2019 to 2031. Moreover, study also provides quantitative and qualitative analysis of each type to understand the driving factors for the fastest growing type segment for Automotive Composite market.
Fibre of Automotive Composite analyzed in this report are as follows:
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Automotive Composite Industry. Request a Free Sample PDF!
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities for each application of Automotive Composite from 2019 to 2031. This will also help to analyze the demand for Automotive Composite across different end-use industries. Our research team will also help acquire additional data such as Value Chain, Patent analysis, Company Evaluation Quadrant (Matrix), and much more confidential analysis and data insights.
Some of the key Resin of Automotive Composite are:
The above Graph is for representation purposes only. This chart does not depict actual Market share. Please purchase the Automotive Composite market report 2024 Edition by contacting our team.
According to Cognitive Market Research, exterior is the dominating category due to its critical role in enhancing vehicle performance, aesthetics, and fuel efficiency. Composites like carbon fiber-reinforced polymers (CFRP) and glass fiber-reinforced polymers (GFRP) offer exceptional strength-to-weight ratios, corrosion resistance, and design flexibility. Composites enable manufacturers to reduce weight, improve aerodynamics, and enhance crash safety in exterior components like body panels, hoods, and spoilers. Additionally, composites allow for intricate designs and styling options not achievable with traditional materials, contributing to the appeal and differentiation of vehicles in the highly competitive automotive market.
Research Analyst at Cognitive Market Research
I am a research analyst working in the Transport & Logistics domain, and my primary responsibility is to conduct thorough research on various subjects and provide valuable insights to support client requirements. I have knowledge of research methodologies, and data mining which enables me to analyze large data sets, draw meaningful conclusions, and communicate them effectively. I stay up-to-date with the latest research trends, methodologies, and technologies to ensure that my research is accurate, relevant, and impactful.
I am a research analyst working in various domains including the Consumer Goods domain, and my primary responsibility is to conduct thorough research on various subjects and provide valuable insights to support client requirements. I have knowledge of research methodologies, and data mining which enables me to analyze large data sets, draw meaningful conclusions, and communicate them effectively. I stay up-to-date with the latest research trends, methodologies, and technologies to ensure that my research is accurate, relevant, and impactful.
I am committed to continuous learning and staying abreast of emerging trends in research methodologies. Regular participation in workshops, webinars, and industry conferences ensures that my skills remain sharp and relevant. I spearheaded research initiatives focused on market trends, customer behavior, and competitive landscapes. I have a demonstrated ability to transform complex data sets into clear and concise narratives that inform key business strategies. Collaborating with cross-functional teams, I played a pivotal role in shaping successful projects that hinged on robust research and analysis.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Automotive Composite Market is witnessing significant growth in the near future.
In 2023, the Glass segment accounted for noticeable share of global Automotive Composite Market and is projected to experience significant growth in the near future.
The Thermoset segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Toray Industries Inc. , Solvay Group and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Disclaimer:
Fibre | Glass, Carbon, Natural |
Resin | Thermoset, Thermoplastics |
Application | Exterior, Interior, Structural & Powertrain, Others |
List of Competitors | Toray Industries Inc., Gurit Holding AG, Solvay Group, SGL Carbon SE, Teijen Limited, Mitsubishi Chemical Holding, Owen Corning, E.I. du Pont de Nemours & Co., UFP Technologies Inc., Quantum Composites |
This chapter will help you gain GLOBAL Market Analysis of Automotive Composite. Further deep in this chapter, you will be able to review Global Automotive Composite Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
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Qualitative Analysis for the North America Market: North America Automotive Composite Market Trends North America Automotive Composite Technological Road Map North America Automotive Composite Market Drivers North America Automotive Composite Market Restraints North America Automotive Composite Market Opportunity Market Attractiveness Analysis COVID – 19 Impact Analysis PESTEL Analysis Porter’s Five Forces Analysis Product Life Cycle Industrial Chain Analysis
You can purchase only the Executive Summary North America Market (2019 vs 2024 vs 2031)
Chapter 3 Europe Market Analysis
You can purchase only the Executive Summary Europe Market (2019 vs 2024 vs 2031)
Chapter 4 Asia-Pacific Market Analysis
You can purchase only the Executive Summary Asia Pacific Market (2019 vs 2024 vs 2031)
Chapter 5 South America Market Analysis
You can purchase only the Executive Summary South America Market (2019 vs 2024 vs 2031)
Chapter 6 Middle East and Africa Market Analysis
You can purchase only the Executive Summary Middle East and Africa Market (2019 vs 2024 vs 2031)
Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Fibre Analysis 2019 -2031, will provide market size split by Fibre. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Fibre Analysis 2019 -2031
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by Resin Analysis 2019 -2031
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 12 Market Split by Application Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Automotive Composite market
Chapter 13 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Glass have a significant impact on Automotive Composite market? |
What are the key factors affecting the Glass and Carbon of Automotive Composite Market? |
What is the CAGR/Growth Rate of Thermoset during the forecast period? |
By type, which segment accounted for largest share of the global Automotive Composite Market? |
Which region is expected to dominate the global Automotive Composite Market within the forecast period? |
Segmentation Level Customization |
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Global level Data Customization |
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Region level Data Customization |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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Service Level Customization |
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Report Format Alteration |
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