Global Automotive Composites Market Size Study, by Fiber Type (Glass Fiber, Carbon Fiber, Others), by Resin Type (Thermoset, Thermoplastic), by Application (Exterior, Interior, Others), and Regional Forecasts 2022-2032

Description

The global automotive composites market was valued at USD 8.46 billion in 2023 and is anticipated to grow at a compound annual growth rate (CAGR) of 14.5% from 2024 to 2032, reaching USD 28.62 billion by the end of the forecast period. Automotive composites are revolutionizing the automotive industry by providing lightweight, high-strength materials that are crucial for meeting stringent fuel efficiency and emission reduction standards. These composites consist of advanced fibers like glass and carbon embedded in resin matrices such as thermoset or thermoplastic, enabling the production of components that enhance vehicle performance, safety, and sustainability.

The surge in demand for lightweight vehicles, driven by stringent environmental regulations and increasing adoption of electric vehicles (EVs), has propelled the automotive composites market. Governments worldwide are tightening emission standards to combat climate change, necessitating the use of materials that reduce vehicle weight and fuel consumption. Automotive composites meet these demands by offering an exceptional strength-to-weight ratio, which improves fuel efficiency and extends EV battery ranges while ensuring safety and structural integrity.

Despite their advantages, high production costs and complex manufacturing processes associated with composites pose challenges to market growth. However, advancements in recycling technologies and bio-based composite materials present opportunities for manufacturers to align with sustainable practices and cater to the rising demand for eco-friendly solutions. Regions like Asia-Pacific, Europe, and North America play a pivotal role in the market landscape, with Asia-Pacific leading due to its robust automotive manufacturing base and increasing focus on EV adoption.

Major market players included in this report are:

Toray Industries, Inc.
Teijin Limited
Hexcel Corporation
Owens Corning
Mitsubishi Chemical Holdings Corporation
Gurit Holding AG
Solvay S.A.
Huntsman Corporation
TenCate Advanced Composites
SGL Carbon SE
BASF SE
Plasan
RTP Company
SABIC
Celanese Corporation

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

By Fiber Type

Glass Fiber
Carbon Fiber
Others

By Resin Type

Thermoset
Thermoplastic

By Application

Exterior
Interior
Others

By Region

North America: U.S., Canada, Mexico
Europe: UK, Germany, France, Spain, Italy, Rest of Europe
Asia-Pacific: China, India, Japan, South Korea, Australia, Rest of Asia-Pacific
LAMEA: Brazil, Saudi Arabia, South Africa, Rest of LAMEA

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 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 competitive structure of the market.
Demand-side and supply-side analysis of the market.

Chapter 1. Global Automotive Composites Market Executive Summary

1.1. Global Automotive 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 Application
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

Chapter 2. Global Automotive 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 Automotive Composites Market Dynamics

3.1. Market Drivers
- 3.1.1. Rising Demand for Lightweight Vehicles
- 3.1.2. Stringent Environmental Regulations
- 3.1.3. Growth in Electric Vehicle Adoption
3.2. Market Challenges
- 3.2.1. High Cost of Raw Materials
- 3.2.2. Complex Manufacturing Processes
3.3. Market Opportunities
- 3.3.1. Advancements in Recycling Technologies
- 3.3.2. Increasing Use of Bio-based Composites

Chapter 4. Global Automotive Composites Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economic
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
4.3. Top Investment Opportunities
4.4. Top Winning Strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

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

5.1. Segment Dashboard
5.2. Global Automotive Composites Market Revenue Trend Analysis (2022-2032)
- 5.2.1. Glass Fiber
- 5.2.2. Carbon Fiber
- 5.2.3. Others

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

6.1. Segment Dashboard
6.2. Global Automotive Composites Market Revenue Trend Analysis (2022-2032)
- 6.2.1. Thermoset
- 6.2.2. Thermoplastic

Chapter 7. Global Automotive Composites Market Size & Forecast by Application (2022-2032)

7.1. Segment Dashboard
7.2. Global Automotive Composites Market Revenue Trend Analysis (2022-2032)
- 7.2.1. Exterior
- 7.2.2. Interior
- 7.2.3. Others

Chapter 8. Global Automotive Composites Market Size & Forecast by Region (2022-2032)

8.1. North America Automotive Composites Market
- 8.1.1. U.S. Market
- 8.1.2. Canada Market
- 8.1.3. Mexico Market
8.2. Europe Automotive Composites Market
- 8.2.1. UK Market
- 8.2.2. Germany Market
- 8.2.3. France Market
- 8.2.4. Spain Market
- 8.2.5. Italy Market
- 8.2.6. Rest of Europe Market
8.3. Asia-Pacific Automotive Composites Market
- 8.3.1. China Market
- 8.3.2. India Market
- 8.3.3. Japan Market
- 8.3.4. South Korea Market
- 8.3.5. Australia Market
- 8.3.6. Rest of Asia-Pacific Market
8.4. LAMEA Automotive Composites Market
- 8.4.1. Brazil Market
- 8.4.2. Saudi Arabia Market
- 8.4.3. South Africa Market
- 8.4.4. Rest of LAMEA Market

Chapter 9. Competitive Intelligence

9.1. Key Company SWOT Analysis
- 9.1.1. Toray Industries, Inc.
- 9.1.2. Teijin Limited
- 9.1.3. Hexcel Corporation
9.2. Top Market Strategies
9.3. Company Profiles

Chapter 10. Research Process

10.1. Research Process
- 10.1.1. Data Mining
- 10.1.2. Analysis
- 10.1.3. Market Estimation
- 10.1.4. Validation
- 10.1.5. Publishing