Automotive Composite Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

Automotive Composite Market Size and Forecasts (2021 - 2031), Global and Regional Growth Opportunity Analysis, and Geography (North America, Europe, Asia Pacific, and South and Central America)

  • Report Code : TIPRE00002782
  • Category : Chemicals and Materials
  • No. of Pages : 150
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Automotive Composite Market Updates by 2031

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The Automotive Composite Market is expected to register a CAGR of 6% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.

The report is segmented by Fiber Type (Carbon Fiber Composites, Glass Fiber Composites, and Others). The report further presents analysis based on, Resin Type [Thermoset (Polyester, Vinyl Ester, Epoxy, Polyurethane, and Others), Thermoplastic (Polypropylene, Polyethylene, Polyvinylchloride, Polystyrene, Polyethylene Terephthalate, Polycarbonate, and Others)]. Based on Based on Vehicle Type report is segmented into (Passenger Vehicles, Light Commercial Vehicles (LCV), Heavy Commercial Vehicles and Two Wheelers and Others) The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.

Purpose of the Report

The report Automotive Composite Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:

  • Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
  • Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
  • Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.

Automotive Composite Market Segmentation

Fiber Type
  • Carbon Fiber Composites
  • Glass Fiber Composites
  • Others
Resin Type [Thermoset
  • Polyester
  • Vinyl Ester
  • Epoxy
  • Polyurethane
  • Others
  • Thermoplastic

Strategic Insights

Automotive Composite Market Growth Drivers
  • Demand for Lightweight Materials: The automotive industry is increasingly focused on reducing vehicle weight to improve fuel efficiency and reduce emissions. Automotive composites, such as carbon fiber-reinforced plastics and glass-fiber composites, offer lightweight solutions without compromising strength and durability. Their use in body panels, chassis, and interiors is accelerating.
  • Rise of Electric and Hybrid Vehicles: The growing popularity of electric vehicles (EVs) and hybrid vehicles, which require lightweight materials to maximize battery performance and range, is driving the demand for automotive composites. These materials help improve overall energy efficiency, offering enhanced strength-to-weight ratios.
  • Increased Demand for Durability and Performance: Automotive composites are known for their durability, resistance to corrosion, and ability to withstand harsh environmental conditions. As vehicles become more technologically advanced, the need for materials that offer high performance while being lightweight, corrosion-resistant, and cost-effective continues to grow.
Automotive Composite Market Future Trends
  • Increased Use of Carbon Fiber Composites: As automakers focus on improving fuel efficiency and reducing vehicle weight, carbon fiber composites are expected to become more widespread. These materials offer significant strength-to-weight ratios, improving vehicle performance and energy efficiency, particularly in electric vehicles, luxury cars, and high-performance sports vehicles.
  • Advancements in Recycling and Sustainability: The future of automotive composites will see a focus on improving the recyclability of composite materials. The development of composite materials that are easier to recycle and more sustainable will drive growth in the automotive sector, as environmental concerns and waste reduction become more critical.
  • Integration of Smart Materials in Automotive Composites: The rise of smart composites with self-healing properties, sensors, and other integrated functionalities is expected to revolutionize the automotive industry. These materials will enable vehicles to monitor their condition, repair minor damages, and improve overall vehicle performance, leading to increased durability and reduced maintenance costs.
Automotive Composite Market Opportunities
  • Growing Adoption of Lightweight Composites for Fuel Efficiency: As automakers focus on improving fuel efficiency, lightweight composites, such as carbon fiber and fiberglass, represent a key market opportunity. These materials are being integrated into vehicle body parts, chassis, and interior components to reduce weight, improve performance, and meet regulatory emissions targets.
  • Increased Use of Composites in Electric Vehicles: The shift to electric vehicles (EVs) offers significant opportunities for the automotive composites market. EVs require lightweight materials to maximize battery range and efficiency, and composites are ideal for this purpose. As EV production increases, the demand for advanced composites in areas like battery housings, structural components, and interior elements will rise.
  • Development of Recyclable and Sustainable Composites: With increasing emphasis on sustainability, there is a growing market for recyclable and eco-friendly automotive composites. Manufacturers are innovating with bio-based composites and recyclable materials, which can meet both performance and environmental requirements, presenting a lucrative opportunity in the green automotive sector.

Market Report Scope

Key Selling Points

  • Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Automotive Composite Market, providing a holistic landscape.
  • Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
  • Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
  • Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.

The research report on the Automotive Composite Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.


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Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

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to segments covered.

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

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to country scope.

Frequently Asked Questions


What is the expected CAGR of the Automotive Composite Market?

The Automotive Composite Market is estimated to witness a CAGR of 6% from 2023 to 2031

What are the driving factors impacting the automotive composites market?

Demand for lightweight materials is driving the automotive composites market growth.

What are the key players operating in the automotive composites market?

DuPont de Nemours Inc, Gurit Holding AG, Hexion Inc, Mitsubishi Chemical Holdings Corp, Nippon Electric Glass Co Ltd, Owens Corning are some of the key players operating in the automotive composites market

Which is the fastest growing segment based on fiber type?

Based on fiber type, the carbon fiber segment is expected to witness the fastest growth during the forecast period

Based on geography, which region held the largest share of the automotive composites market?

Based on geography, Asia Pacific held the largest share of the automotive composites market due to the well-established automotive industry across the region

What is the future trend for automotive composites market?

Increased use of carbon fiber composites is expected to be the key market trends.

TABLE OF CONTENTS

1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Automotive Composite Market - By Application
1.3.2 Automotive Composite Market - By Region
1.3.2.1 By Country

2. KEY TAKEAWAYS

3. RESEARCH METHODOLOGY

4. AUTOMOTIVE COMPOSITE MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS

5. AUTOMOTIVE COMPOSITE MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS

6. AUTOMOTIVE COMPOSITE MARKET - GLOBAL MARKET ANALYSIS
6.1. AUTOMOTIVE COMPOSITE - GLOBAL MARKET OVERVIEW
6.2. AUTOMOTIVE COMPOSITE - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING

7. AUTOMOTIVE COMPOSITE MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
7.1. OVERVIEW
7.2. APPLICATION MARKET FORECASTS AND ANALYSIS
7.3. EXTERIOR
7.3.1. Overview
7.3.2. Exterior Market Forecast and Analysis
7.4. INTERIOR
7.4.1. Overview
7.4.2. Interior Market Forecast and Analysis
7.5. POWERTRAIN
7.5.1. Overview
7.5.2. Powertrain Market Forecast and Analysis
7.6. OTHERS
7.6.1. Overview
7.6.2. Others Market Forecast and Analysis

8. AUTOMOTIVE COMPOSITE MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
8.1. NORTH AMERICA
8.1.1 North America Automotive Composite Market Overview
8.1.2 North America Automotive Composite Market Forecasts and Analysis
8.1.3 North America Automotive Composite Market Forecasts and Analysis - By Application
8.1.4 North America Automotive Composite Market Forecasts and Analysis - By Countries
8.1.4.1 United States Automotive Composite Market
8.1.4.1.1 United States Automotive Composite Market by Application
8.1.4.2 Canada Automotive Composite Market
8.1.4.2.1 Canada Automotive Composite Market by Application
8.1.4.3 Mexico Automotive Composite Market
8.1.4.3.1 Mexico Automotive Composite Market by Application
8.2. EUROPE
8.2.1 Europe Automotive Composite Market Overview
8.2.2 Europe Automotive Composite Market Forecasts and Analysis
8.2.3 Europe Automotive Composite Market Forecasts and Analysis - By Application
8.2.4 Europe Automotive Composite Market Forecasts and Analysis - By Countries
8.2.4.1 Germany Automotive Composite Market
8.2.4.1.1 Germany Automotive Composite Market by Application
8.2.4.2 France Automotive Composite Market
8.2.4.2.1 France Automotive Composite Market by Application
8.2.4.3 Italy Automotive Composite Market
8.2.4.3.1 Italy Automotive Composite Market by Application
8.2.4.4 United Kingdom Automotive Composite Market
8.2.4.4.1 United Kingdom Automotive Composite Market by Application
8.2.4.5 Russia Automotive Composite Market
8.2.4.5.1 Russia Automotive Composite Market by Application
8.2.4.6 Rest of Europe Automotive Composite Market
8.2.4.6.1 Rest of Europe Automotive Composite Market by Application
8.3. ASIA-PACIFIC
8.3.1 Asia-Pacific Automotive Composite Market Overview
8.3.2 Asia-Pacific Automotive Composite Market Forecasts and Analysis
8.3.3 Asia-Pacific Automotive Composite Market Forecasts and Analysis - By Application
8.3.4 Asia-Pacific Automotive Composite Market Forecasts and Analysis - By Countries
8.3.4.1 Australia Automotive Composite Market
8.3.4.1.1 Australia Automotive Composite Market by Application
8.3.4.2 China Automotive Composite Market
8.3.4.2.1 China Automotive Composite Market by Application
8.3.4.3 India Automotive Composite Market
8.3.4.3.1 India Automotive Composite Market by Application
8.3.4.4 Japan Automotive Composite Market
8.3.4.4.1 Japan Automotive Composite Market by Application
8.3.4.5 South Korea Automotive Composite Market
8.3.4.5.1 South Korea Automotive Composite Market by Application
8.3.4.6 Rest of Asia-Pacific Automotive Composite Market
8.3.4.6.1 Rest of Asia-Pacific Automotive Composite Market by Application
8.4. MIDDLE EAST AND AFRICA
8.4.1 Middle East and Africa Automotive Composite Market Overview
8.4.2 Middle East and Africa Automotive Composite Market Forecasts and Analysis
8.4.3 Middle East and Africa Automotive Composite Market Forecasts and Analysis - By Application
8.4.4 Middle East and Africa Automotive Composite Market Forecasts and Analysis - By Countries
8.4.4.1 South Africa Automotive Composite Market
8.4.4.1.1 South Africa Automotive Composite Market by Application
8.4.4.2 Saudi Arabia Automotive Composite Market
8.4.4.2.1 Saudi Arabia Automotive Composite Market by Application
8.4.4.3 U.A.E Automotive Composite Market
8.4.4.3.1 U.A.E Automotive Composite Market by Application
8.4.4.4 Rest of Middle East and Africa Automotive Composite Market
8.4.4.4.1 Rest of Middle East and Africa Automotive Composite Market by Application
8.5. SOUTH AND CENTRAL AMERICA
8.5.1 South and Central America Automotive Composite Market Overview
8.5.2 South and Central America Automotive Composite Market Forecasts and Analysis
8.5.3 South and Central America Automotive Composite Market Forecasts and Analysis - By Application
8.5.4 South and Central America Automotive Composite Market Forecasts and Analysis - By Countries
8.5.4.1 Brazil Automotive Composite Market
8.5.4.1.1 Brazil Automotive Composite Market by Application
8.5.4.2 Argentina Automotive Composite Market
8.5.4.2.1 Argentina Automotive Composite Market by Application
8.5.4.3 Rest of South and Central America Automotive Composite Market
8.5.4.3.1 Rest of South and Central America Automotive Composite Market by Application

9. INDUSTRY LANDSCAPE
9.1. MERGERS AND ACQUISITIONS
9.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
9.3. NEW PRODUCT LAUNCHES
9.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS

10. AUTOMOTIVE COMPOSITE MARKET, KEY COMPANY PROFILES
10.1. GMS COMPOSITES
10.1.1. Key Facts
10.1.2. Business Description
10.1.3. Products and Services
10.1.4. Financial Overview
10.1.5. SWOT Analysis
10.1.6. Key Developments
10.2. GURIT
10.2.1. Key Facts
10.2.2. Business Description
10.2.3. Products and Services
10.2.4. Financial Overview
10.2.5. SWOT Analysis
10.2.6. Key Developments
10.3. HEXCEL CORPORATION
10.3.1. Key Facts
10.3.2. Business Description
10.3.3. Products and Services
10.3.4. Financial Overview
10.3.5. SWOT Analysis
10.3.6. Key Developments
10.4. JOHNS MANVILLE
10.4.1. Key Facts
10.4.2. Business Description
10.4.3. Products and Services
10.4.4. Financial Overview
10.4.5. SWOT Analysis
10.4.6. Key Developments
10.5. MITSUBISHI CHEMICAL HOLDING CORPORATION
10.5.1. Key Facts
10.5.2. Business Description
10.5.3. Products and Services
10.5.4. Financial Overview
10.5.5. SWOT Analysis
10.5.6. Key Developments
10.6. SGL CARBON SE
10.6.1. Key Facts
10.6.2. Business Description
10.6.3. Products and Services
10.6.4. Financial Overview
10.6.5. SWOT Analysis
10.6.6. Key Developments
10.7. SOLVAY S.A
10.7.1. Key Facts
10.7.2. Business Description
10.7.3. Products and Services
10.7.4. Financial Overview
10.7.5. SWOT Analysis
10.7.6. Key Developments
10.8. TEIJIN CARBON EUROPE GMBH
10.8.1. Key Facts
10.8.2. Business Description
10.8.3. Products and Services
10.8.4. Financial Overview
10.8.5. SWOT Analysis
10.8.6. Key Developments
10.9. TORAY ADVANCED COMPOSITES
10.9.1. Key Facts
10.9.2. Business Description
10.9.3. Products and Services
10.9.4. Financial Overview
10.9.5. SWOT Analysis
10.9.6. Key Developments
10.10. TPI COMPOSITES INC.
10.10.1. Key Facts
10.10.2. Business Description
10.10.3. Products and Services
10.10.4. Financial Overview
10.10.5. SWOT Analysis
10.10.6. Key Developments

11. APPENDIX
11.1. ABOUT THE INSIGHT PARTNERS
11.2. GLOSSARY OF TERMS

The List of Companies

  • Toray Industries Inc.
  • SGL Carbon
  • TEIJIN LIMITED
  • Mitsubishi Chemical Corporation.
  • Hexcel Corporation
  • John Manville Corporation
  • Owens Corning
  • Zoltek Carbon Fiber
  • Cytec Solvay Group
  • Gurit

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

Your data will never be shared with third parties, however, we may send you information from time to time about our products that may be of interest to you. By submitting your details, you agree to be contacted by us. You may contact us at any time to opt-out.

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