The EV Composites Market is expected to register a CAGR of 17% from 2025 to 2031, with a market size expanding from US$ XX Million in 2024 to US$ XX Million by 2031.
The EV composites market report is segmented by By Fiber Type (Glass Fiber, Carbon Fiber), Resin Type (Thermoplastics, Thermoset), Type (Ultra-Premium, Premium and Non-Premium). The market size and forecast at global, regional, and country levels for all the key market segments are covered under the scope. The report offers the value in USD for the above analysis, segments, regions, and countries. The report covers market trends, as well as market dynamics such as drivers, restraints, and key opportunities. The report also covers industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments in the market.
Purpose of the ReportThe report EV Composites 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.
EV Composites Market Segmentation
Fiber Type- Glass Fiber
- Carbon Fiber
- Thermoplastics
- Thermoset
- Ultra-Premium
- Premium and Non-Premium
Strategic Insights
EV Composites Market Growth Drivers- Rising Demand for Lightweight Materials in Electric Vehicles (EVs): The need to reduce vehicle weight to improve energy efficiency and driving range is a major driver of the EV composites market. Lightweight composite materials, such as carbon fiber and glass fiber, are being increasingly used in EV manufacturing to replace traditional metals, enhancing performance while maintaining structural integrity.
- Government Regulations and Environmental Policies: Stringent government regulations aimed at reducing carbon emissions and promoting the adoption of electric vehicles are fueling the demand for EV composites. These materials help EV manufacturers meet emissions targets and fuel efficiency standards, driving the market for lightweight, sustainable composites in the automotive industry.
- Advancements in EV Battery Technology: The growth of electric vehicle battery technology, including the push for higher energy density and longer battery life, is contributing to the demand for advanced composites. Composites are being used for battery enclosures and thermal management systems, improving safety, performance, and durability in EVs.
- Use of Advanced and Sustainable Composites: The future of the EV composites market is moving toward more sustainable materials. Innovations in bio-based and recyclable composites are expected to grow, as the automotive industry seeks to further reduce the environmental impact of electric vehicles while maintaining high performance and low weight.
- Integration of Smart Composites in EVs: As electric vehicles become more technologically advanced, smart composites—materials that can respond to environmental stimuli, such as temperature or pressure—are expected to be increasingly used in EV manufacturing. These materials could enhance vehicle safety, efficiency, and functionality by integrating features like self-healing or energy absorption capabilities.
- Growth of EV Production in Emerging Markets: The expanding EV manufacturing base in emerging markets such as China, India, and Southeast Asia is a key trend. These regions are expected to see significant growth in EV production and, consequently, a higher demand for composites in automotive parts, including body panels, structural components, and interior elements.
- Collaboration Between Automakers and Composite Manufacturers: Stronger partnerships between automotive manufacturers and composite material producers will lead to the development of new, more efficient, and cost-effective composite materials tailored for EV applications. These collaborations can drive innovation and help address the challenges related to scalability, cost, and performance.
- Expansion of EV Battery and Charging Infrastructure: The rapid growth of the electric vehicle infrastructure, including battery manufacturing and charging networks, presents opportunities for composite materials in battery casing and storage. This will drive demand for high-performance, durable, and lightweight materials to support the expansion of the EV ecosystem.
- Integration of Composites in Autonomous EVs: As autonomous vehicles become more prevalent, the use of advanced composites in vehicle construction is expected to increase. Composites offer unique benefits such as weight reduction and enhanced safety, which are critical for the development of autonomous vehicles, presenting growth potential in this sector.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the EV Composites 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 EV Composites 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.
REGIONAL FRAMEWORK
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
The EV composites market is estimated to witness a CAGR of 17% from 2025 to 2031
Government policies promoting the adoption of electric vehicles is driving the market growth.
Atlas Fibre, CIE Automotive India, ElringKlinger AG, Envalior, Euro Advanced Carbon Fiber Composites GmbH, Exel Composites, Faurecia, HRC (Hengrui Corporation), IDI Composites International, and Jiangsu Kangde Xin Composite Material are the key players operating in the EV composites market.
Based on fiber type, the glass fiber segment is expected to witness the fastest growth during the forecast period.
Based on geography, North America held the largest share of the EV composites market.
Adoption of sustainable, advanced, and smart materials in vehicle manufacturing is expected to be the key market trends.
- Atlas Fibre
- CIE Automotive India
- ElringKlinger AG
- Envalior
- Euro Advanced Carbon Fiber Composites GmbH
- Exel Composites
- Faurecia
- HRC (Hengrui Corporation)
- IDI Composites International
- Jiangsu Kangde Xin Composite Material
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- 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.
- 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:
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.
- 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.
- 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.
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