Automotive Composites Market Key Players, Share, Size,
Trends, Aftermarket, Growth, Opportunities (2021-2031)

The Automotive Composites Market size is expected to
reach US$ 27,374.53 million by 2031 from US$ 12,474.38 million in 2024. The
market is estimated to record a CAGR of 12.3% from 2025 to 2031.

Executive Summary and Global Market Analysis

Automotive composites, advanced lightweight materials that
integrate fibers and resins, are increasingly fundamental to vehicle
manufacturing. Their core advantages include reducing vehicle mass, directly
contributing to improved fuel efficiency, and simultaneously boosting overall
vehicle performance. These composites are essential for compliance with
stringent environmental regulations and are central to the automotive
industry's ongoing drive for sustainability. The global automotive composites
market is experiencing significant growth, driven primarily by the escalating
demand for lightweight materials within the automotive sector. This demand is
intrinsically linked to the imperative of optimizing fuel efficiency and
adhering to increasingly rigorous environmental standards. Governments
worldwide are implementing more demanding emission standards and fuel
efficiency requirements. By effectively reducing vehicle weight, automotive
composites directly contribute to superior fuel economy and diminished CO2 emissions,
thereby empowering manufacturers to meet these critical regulatory mandates.

Automotive Composites Market
Segmentation Analysis

By Fiber Type

By fiber type, the automotive composites market is segmented
into glass fiber composites, carbon fiber composites, and other categories. The
glass fiber composites segment held the largest market share in 2024,
validating its widespread adoption and acceptance across various vehicle types.

By Resin Type

With respect to resin type, the automotive composites market
is clearly distinguished into thermoset resins (including polyester, epoxy,
vinyl ester, polyurethane, and others) and thermoplastics (such as
polyethylene, polypropylene, polycarbonate, polymethyl methacrylate, and
others). While thermoplastics gained ground, the thermoset resins segment,
specifically epoxy and polyester, continued to hold a dominant share in 2024
due to their excellent mechanical properties and heat resistance.

By Technology

In terms of technology, the automotive composites market is
categorized into pultrusion, injection molding, compression molding, and other
manufacturing processes. The injection molding segment maintained the largest
market share in 2024, showcasing its efficiency and adaptability for producing
complex, high-volume parts.

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Automotive Composites Market Drivers and Opportunities

The persistent rise in fuel prices and the growing
environmental consciousness regarding conventional gasoline vehicles have
undeniably accelerated the global movement towards alternative fuel vehicles.
Consumers are increasingly demonstrating a strong inclination towards acquiring
battery-powered or hybrid automobiles, a powerful trend that is unequivocally
projected to significantly stimulate the demand for electric vehicles (EVs).
According to the International Energy Agency's annual Global Electric Vehicle
Outlook, over 10 million electric cars were sold worldwide in 2022, with a
projected remarkable increase of 35% in 2023, reaching 14 million units. As the
automotive industry undergoes a profound and sweeping transformative shift
towards EVs, the strategic role of composites has become even more critically
important. Governments are also proactively providing attractive laws and
incentives to vigorously promote EV sales.

Automotive Composites Market Size and Share Analysis

Based on fiber type, the market comprises glass fiber
composites, carbon fiber composites, and other materials. The glass fiber
composites segment commanded the largest automotive composites market share in
2024. Glass fiber composites maintain a dominant position in the automotive
composites market primarily due to their advantageous blend of performance,
cost-effectiveness, and broad applicability. Glass fibers are extensively
employed in a diverse range of automotive applications due to their exceptional
strength-to-weight ratio, high durability, and inherent resistance to
challenging environmental factors such as moisture and various chemicals.

In terms of application, the market is distinctly segmented
into structural assembly, powertrain components, and interiors. The interiors
segment held the largest automotive composites market share in 2024. The
interior segment of the automotive composites market is a dynamic and
innovative area where manufacturers consistently strive to enhance vehicle
aesthetics, comfort, safety, and overall performance.

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