Automotive Composites Market Size Share, Growth & Forecast [2031]

Automotive Composites Market Size Share, Growth & Forecast [2031]

Segments - Automotive Composites Market by Application Types (Structural Assembly, Powertrain Component, Interior, and Exterior), Material Types (Thermoset Polymer, Thermoplastic Polymer, Carbon Fiber, and Glass Fiber), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023-2031

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Author : Akash Vedpathak
https://growthmarketreports.com/Vineet
Fact-checked by : Vineet Pandey
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Editor : Shruti Bhat

Upcoming | Report ID :AL-3124 | 4.4 Rating | 62 Reviews | 212 Pages | Format : PDF Excel PPT

Report Description


Automotive Composites Market Outlook 2031

The global automotive composites market size was valued at USD 7.2 Billion in 2022 and is anticipated to reach USD 20.13 Billion by 2031, expanding at a CAGR of 12.1% during the forecast period, 2023 – 2031. The growth of the market is attributed to the increasing demand for lightweight materials from the automotive industry.

A composite is a material made from two or more physical and chemical properties. The combination of two properties can result into better characteristics. Automotive composites make vehicles lighter, safer, and more fuel-efficient. Composites are lightweight materials, which are majorly used in trucks, cars, and other vehicles. Carbon fiber and fiberglass composites are widely used in the automotive industry for making sports cars.

Automotive Composites Market Outlook

During COVID-19 pandemic, various restrictions by government state bodies halted production and disrupted supply chain in vital areas. However, the relaxation in restrictions is estimated to positively influence the market growth.

  • A growing focus on fuel economy is projected to drive the market growth.
  • Increasing industrialization is expected to boost the market growth in the coming years.
  • Rising demand for electric vehicles is expected to spur market growth during the forecast period.
  • Recycling challenges are estimated to restrict the market growth in the coming years.
  • High processing and manufacturing costs of composites can restrain the growth of the market.
  • The high cost associated with carbon fiber composites and glass fiber composites is hindering the growth of the market.
  • Strict government regulations can create lucrative opportunities during the forecast period.

Scope of Automotive Composites Market Report

The report on the global automotive composites market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Automotive Composites Market – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2022

Historic Data

2016–2021

Forecast Period

2023–2031

Segmentation

Application Types (Structural Assembly, Powertrain Component, Interior, and Exterior) and Material Types (Thermoset Polymer, Thermoplastic Polymer, Carbon Fiber, and Glass Fiber)

Regions

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Toho Tenex (Teijin Ltd); Toray Industries Inc; Mitsubishi Chemical Carbon Fiber and Composites, Inc.; and SGL Carbon

Automotive Composites Market Segment Insights

Interior segment to hold a significant market share

Based on application types, the market is divided into structural assembly, powertrain component, interior, and exterior. The exterior assembly segment is anticipated to hold a key share of the market in the coming years due to usage in headlamps and heat shielding components. However, the interior segment is anticipated to expand at a rapid pace during the forecast period owing to rising demand for infotainment and focus on providing comfort and convenience in vehicles.

Automotive Composites Market applications types

Thermoplastic polymer segment is expected to grow at a rapid pace

On the basis of material types, the market is segregated into thermoset polymer, thermoplastic polymer, carbon fiber, and glass fiber. The thermoset polymer segment is expected to represent a key share of the market in the upcoming years owing to low coefficient of thermal expansion, high impact strength, and excellent dimensional stability. On the other hand, the thermoplastic polymer segment is anticipated to expand at a rapid pace during the forecast period due to high toughness, recyclability, and ability to deliver a fast manufacturing process.

Automotive Composites Market materials types

Regional Analysis

In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to constitute a key share of the market during the projected period due to the rising income level of consumers. However, the market in Asia Pacific is anticipated to expand at a rapid pace during the forecast period owing to demand for better fuel efficiency in passenger cars.

Automotive Composites Market region

Segments

The global automotive composites market has been segmented on the basis of

Application Types

  • Structural Assembly
  • Powertrain Component
  • Interior
  • Exterior

Material Types

  • Thermoset Polymer
  • Thermoplastic Polymer
  • Carbon Fiber
  • Glass Fiber

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

Competitive Landscape

Key players competing in the automotive composites market includes Toho Tenex (Teijin Ltd); Toray Industries Inc; Mitsubishi Chemical Carbon Fiber and Composites, Inc.; and SGL Carbon. 

Some of these players are engaging in business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market share.
 

Automotive Composites Market key players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Automotive Composites Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Automotive Composites Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Automotive Composites Market - Supply Chain
  4.5. Global Automotive Composites Market Forecast
     4.5.1. Automotive Composites Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Automotive Composites Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Automotive Composites Market Absolute $ Opportunity
5. Global Automotive Composites Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Automotive Composites Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Automotive Composites Demand Share Forecast, 2019-2026
6. North America Automotive Composites Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Automotive Composites Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Automotive Composites Demand Share Forecast, 2019-2026
7. Latin America Automotive Composites Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Automotive Composites Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Automotive Composites Demand Share Forecast, 2019-2026
8. Europe Automotive Composites Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Automotive Composites Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Automotive Composites Demand Share Forecast, 2019-2026
9. Asia Pacific Automotive Composites Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Automotive Composites Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Automotive Composites Demand Share Forecast, 2019-2026
10. Middle East & Africa Automotive Composites Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Automotive Composites Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Automotive Composites Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Automotive Composites Market: Market Share Analysis
  11.2. Automotive Composites Distributors and Customers
  11.3. Automotive Composites Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Toho Tenex (Teijin Ltd)
     11.4.2. Toray Industries Inc
     11.4.3. Mitsubishi Chemical Carbon Fiber and Composites, Inc.
     11.4.4. SGL Carbon. 

Methodology

Our Clients

sinopec
Honda Motor Co. Ltd.
General Mills
Microsoft
Pfizer
Deloitte
Nestle SA
The John Holland Group