Automotive Composites

Global Automotive Composites Market to Reach US$59.8 Billion by 2030

The global market for Automotive Composites estimated at US$30.4 Billion in the year 2024, is expected to reach US$59.8 Billion by 2030, growing at a CAGR of 11.9% over the analysis period 2024-2030. Exteriors, one of the segments analyzed in the report, is expected to record a 11.1% CAGR and reach US$22.6 Billion by the end of the analysis period. Growth in the Interiors segment is estimated at 11.9% CAGR over the analysis period.

The U.S. Market is Estimated at US$5.9 Billion While China is Forecast to Grow at 16.0% CAGR

The Automotive Composites market in the U.S. is estimated at US$5.9 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$17.3 Billion by the year 2030 trailing a CAGR of 16.0% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 8.5% and 9.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 10.3% CAGR.

Global Automotive Composites Market - Key Trends & Drivers Summarized

Automotive composites are advanced materials used extensively in the automotive industry to enhance vehicle performance, efficiency, and safety. These composites are typically made from a combination of high-strength fibers, such as carbon or glass, embedded in a polymer matrix. The resulting materials are lightweight yet incredibly strong, making them ideal for various automotive applications, including body panels, chassis components, and interior parts. The use of composites in automotive manufacturing helps reduce the overall weight of vehicles, which in turn improves fuel efficiency and reduces emissions. Additionally, the high strength-to-weight ratio of composites enhances the safety and durability of vehicles, providing better crash resistance and longer component life.

Technological advancements in the production and application of automotive composites have significantly expanded their use and improved their performance. Innovations in manufacturing processes, such as resin transfer molding (RTM) and automated fiber placement (AFP), have made it possible to produce complex composite components with high precision and efficiency. The development of new composite materials, such as thermoplastic composites, has further broadened the scope of applications by offering improved recyclability and faster processing times. Additionally, the integration of nanotechnology into composite materials has led to the creation of nanocomposites with superior mechanical properties and enhanced functionality, such as improved thermal conductivity and electromagnetic shielding. These advancements are driving the adoption of composites in high-performance and luxury vehicles, as well as in mainstream automotive manufacturing.

The growth in the automotive composites market is driven by several factors, reflecting the industry`s evolving needs and technological advancements. One significant driver is the increasing demand for lightweight materials to improve fuel efficiency and reduce carbon emissions, particularly in light of stringent environmental regulations and the push for sustainable mobility solutions. The rise of electric vehicles (EVs) also contributes to market growth, as composites are essential for reducing the weight of battery packs and improving the overall range and performance of EVs. Additionally, the automotive industry`s focus on safety and crashworthiness fuels the demand for high-strength composite materials that enhance vehicle structural integrity. Technological innovations in composite manufacturing, which reduce production costs and time, further propel market expansion by making these materials more accessible and cost-effective for mass production. The continuous advancements in composite materials, coupled with growing investments in research and development, ensure the dynamic growth and evolution of the automotive composites market.

SCOPE OF STUDY:

The report analyzes the Automotive Composites market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Fiber Type (Glass Fiber, Carbon Fiber, Other Fiber Types); Resin Type (Thermoplastic, Thermoset); Application (Exteriors, Interiors, Powertrain, Other Applications)

Geographic Regions/Countries:
World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.

Select Competitors (Total 92 Featured) -

• BASF SE
• Gurit Services AG
• Hexcel Corporation
• Huntsman Corporation
• Mitsubishi Chemical Holding Corporation
• Owens Cornings
• SGL Carbon SE
• Sigmatex (UK) Limited
• Syensqo
• Teijin Limited
• Toray Advanced Composites
• UFP Technologies, Inc.

TARIFF IMPACT FACTOR

Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.

We are diligently following expert opinions of leading Chief Economists (14,949), Think Tanks (62), Trade & Industry bodies (171) worldwide, as they assess impact and address new market realities for their ecosystems. Experts and economists from every major country are tracked for their opinions on tariffs and how they will impact their countries.

We expect this chaos to play out over the next 2-3 months and a new world order is established with more clarity. We are tracking these developments on a real time basis.

As we release this report, U.S. Trade Representatives are pushing their counterparts in 183 countries for an early closure to bilateral tariff negotiations. Most of the major trading partners also have initiated trade agreements with other key trading nations, outside of those in the works with the United States. We are tracking such secondary fallouts as supply chains shift.

To our valued clients, we say, we have your back. We will present a simplified market reassessment by incorporating these changes!

APRIL 2025: NEGOTIATION PHASE

Our April release addresses the impact of tariffs on the overall global market and presents market adjustments by geography. Our trajectories are based on historic data and evolving market impacting factors.

JULY 2025 FINAL TARIFF RESET

Complimentary Update: Our clients will also receive a complimentary update in July after a final reset is announced between nations. The final updated version incorporates clearly defined Tariff Impact Analyses.

Reciprocal and Bilateral Trade & Tariff Impact Analyses:

USA
CHINA
MEXICO
CANADA
EU
JAPAN
INDIA
176 OTHER COUNTRIES.

Leading Economists - Our knowledge base tracks 14,949 economists including a select group of most influential Chief Economists of nations, think tanks, trade and industry bodies, big enterprises, and domain experts who are sharing views on the fallout of this unprecedented paradigm shift in the global econometric landscape. Most of our 16,491+ reports have incorporated this two-stage release schedule based on milestones.

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