Global EV Composites Market Size Study, by Fiber Type, Resin Type, Type, Manufacturing Process, Application, and Regional Forecasts 2022-2032

Description

The Global EV Composites Market was valued at USD 1.96 billion in 2023 and is projected to witness robust growth, registering a CAGR of 17.1% during the forecast period from 2024 to 2032, reaching a market size of USD 8.11 billion by 2032. Advanced composite materials, particularly carbon and glass fibers, are pivotal in the manufacturing of electric vehicles (EVs) due to their exceptional strength-to-weight ratio, enabling improved energy efficiency and driving range.

The rapid adoption of EVs globally, coupled with stringent emission regulations, has propelled demand for lightweight and high-performance materials like EV composites. Carbon fiber dominates the market with applications in critical structural and performance-enhancing components, while glass fiber offers cost-effective solutions for non-structural parts. Technological innovations, including bio-based composites and nanocomposites, are driving material advancements, enhancing properties such as thermal stability and electrical conductivity.

Asia Pacific leads the market, driven by rapid EV adoption in China, Japan, and South Korea, supported by favorable government policies and advancements in materials technology. North America follows closely, with significant growth attributed to incentives, technological advancements, and a robust EV manufacturing ecosystem. Europe, driven by stringent emission norms and investments in sustainable automotive technologies, also holds a significant market share.

Major market players included in this report are:

1. Owens Corning
2. Piran Advanced Composites
3. Plastic Omnium
4. POLYTEC HOLDING AG
5. Rochling SE & Co. KG
6. SGL Carbon
7. Syensqo
8. Teijin Limited
9. The Gund Company
10. Toray Industries, Inc.
11. TRB Lightweight Structures
12. ZhongAo Carbon

The detailed segments and sub-segments of the market are explained below:

By Fiber Type:

Glass Fiber
Carbon Fiber
Others

By Resin Type:

Thermoplastics
Thermoset

By Type:

Ultra-Premium
Premium
Non-Premium

By Manufacturing Process:

Compression Molding
Injection Molding
RTM
Others

By Application:

Interior
Exterior
Battery Enclosure
Powertrain & Chassis

By Region:

North America
U.S.
Canada
Europe
Germany
UK
France
Italy
Spain
Russia
Netherlands
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Indonesia
Malaysia
Australia
Vietnam
Rest of Asia Pacific
Latin America
Argentina
Brazil
Mexico
Rest of Latin America
Middle East & Africa
UAE
Saudi Arabia
Israel
South Africa
Rest of Middle East & Africa

Years considered for the study are as follows:

Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032

Key Takeaways:

Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional-level analysis for each market segment.
Detailed analysis of the geographical landscape with country-level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of the competitive structure of the market.
Demand-side and supply-side analysis of the market.

Chapter 1. Global EV Composites Market Executive Summary

1.1. Global EV Composites Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
- 1.3.1. By Fiber Type
- 1.3.2. By Resin Type
- 1.3.3. By Type
- 1.3.4. By Manufacturing Process
- 1.3.5. By Application
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

Chapter 2. Global EV Composites Market Definition and Research Assumptions

2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
- 2.3.4. Demand Side Analysis
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates

Chapter 3. Global EV Composites Market Dynamics

3.1. Market Drivers
- 3.1.1. Increasing Adoption of EVs Globally
- 3.1.2. Advancements in Bio-Based and Nanocomposite Materials
- 3.1.3. Stringent Emission Norms Driving Lightweight Material Demand
3.2. Market Challenges
- 3.2.1. High Costs of Carbon Fiber Composites
- 3.2.2. Complex Manufacturing Processes
3.3. Market Opportunities
- 3.3.1. Innovations in Manufacturing Technologies
- 3.3.2. Growth of EV Infrastructure and Smart Cities

Chapter 4. Global EV Composites Market Industry Analysis

4.1. Porter's Five Forces Analysis
4.2. PESTEL Analysis
4.3. Competitive Landscape Analysis
4.4. Analyst Recommendation & Conclusion

Chapter 5. Global EV Composites Market Size & Forecast by Fiber Type (2022-2032)

5.1. Segment Dashboard
5.2. Revenue Trend Analysis (USD Billion)
- 5.2.1. Glass Fiber
- 5.2.2. Carbon Fiber
- 5.2.3. Others

Chapter 6. Global EV Composites Market Size & Forecast by Resin Type (2022-2032)

6.1. Segment Dashboard
6.2. Revenue Trend Analysis (USD Billion)
- 6.2.1. Thermoplastics
- 6.2.2. Thermoset

Chapter 7. Global EV Composites Market Size & Forecast by Type (2022-2032)

7.1. Segment Dashboard
7.2. Revenue Trend Analysis (USD Billion)
- 7.2.1. Ultra-Premium
- 7.2.2. Premium
- 7.2.3. Non-Premium

Chapter 8. Global EV Composites Market Size & Forecast by Manufacturing Process (2022-2032)

8.1. Segment Dashboard
8.2. Revenue Trend Analysis (USD Billion)
- 8.2.1. Compression Molding
- 8.2.2. Injection Molding
- 8.2.3. RTM
- 8.2.4. Others

Chapter 9. Global EV Composites Market Size & Forecast by Application (2022-2032)

9.1. Segment Dashboard
9.2. Revenue Trend Analysis (USD Billion)
- 9.2.1. Interior
- 9.2.2. Exterior
- 9.2.3. Battery Enclosure
- 9.2.4. Powertrain & Chassis

Chapter 10. Global EV Composites Market Size & Forecast by Region (2022-2032)

10.1. North America
- 10.1.1. U.S.
- 10.1.2. Canada
10.2. Europe
- 10.2.1. Germany
- 10.2.2. UK
- 10.2.3. France
- 10.2.4. Italy
- 10.2.5. Spain
- 10.2.6. Russia
- 10.2.7. Netherlands
- 10.2.8. Rest of Europe
10.3. Asia-Pacific
- 10.3.1. China
- 10.3.2. India
- 10.3.3. Japan
- 10.3.4. South Korea
- 10.3.5. Indonesia
- 10.3.6. Malaysia
- 10.3.7. Rest of Asia-Pacific
10.4. Latin America
- 10.4.1. Argentina
- 10.4.2. Brazil
- 10.4.3. Mexico
- 10.4.4. Rest of Latin America
10.5. Middle East & Africa
- 10.5.1. UAE
- 10.5.2. Saudi Arabia
- 10.5.3. Israel
- 10.5.4. South Africa
- 10.5.5. Rest of Middle East & Africa

Chapter 11. Competitive Intelligence

11.1. Key Company SWOT Analysis
11.2. Company Profiles
11.3. Market Strategies

Chapter 12. Research Process

12.1. Research Design
12.2. Data Mining
12.3. Market Estimation Techniques
12.4. Validation