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Impact Of Demand For Lightweight And Fuel-Efficient Vehicles On The Automotive Composites Market: A Significant Driver Propelling The Automotive Composites Market In 2025
Automotive Composites Market
What Is the Automotive Composites Market Size and Projected Growth Rate?
The automotive composites market size has grown significantly in recent years. It will expand from $8.14 billion in 2024 to $9.06 billion in 2025, at a CAGR of 11.3%. This growth can be attributed to the increased demand for lightweight vehicles, the expansion of the electric vehicle market, stricter emission norms, the rise in global vehicle production, and higher consumer demand for high-performance vehicles with better fuel efficiency and safety features.
The automotive composites market is expected to grow rapidly to $13.8 billion in 2029 at a CAGR of 11.1%, supported by EV growth, material recycling, industrialization, R&D investments, and infrastructure development. Trends include 3D printing, nanoparticle use, renewable materials, structural design software, and advanced coatings.
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What Are the Major Segments in the Automotive Composites Market?
The automotive composites market covered in this report is segmented -
1) By Material: Glass Fiber Composites, Natural Fiber Composites, Carbon Fiber Composites, Aramid Fiber Composites, Other Materials
2) By Resin: Thermoplastic, Thermoset
3) By Manufacturing Process: Compression Molding, Injection Molding, Resin Transfer Molding (RTM), Other Manufacturing Processes
4) By Application: Exterior, Interior, Structural And Powertrain, Other Applications
Subsegments:
1) By Glass Fiber Composites: E-Glass Composites, S-Glass Composites
2) By Natural Fiber Composites: Hemp Fiber Composites, Jute Fiber Composites, Flax Fiber Composites
3) By Carbon Fiber Composites: Continuous Carbon Fiber Composites, Short Carbon Fiber Composites
4) By Aramid Fiber Composites: Kevlar-Based Composites, Twaron-Based Composites
5) By Other Materials: Basalt Fiber Composites, PEEK Composites ket*one)
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What Are The Driving Automotive Composites Market Evolution?
The increasing demand for lightweight and fuel-efficient vehicles is expected to propel the growth of the automotive composites market. Lightweight and fuel-efficient vehicles reduce weight using composites and alloys, improving fuel economy and reducing emissions. Consumer demand for better fuel economy and advancements in materials technology are driving the adoption of lightweight vehicles. According to the Bureau of Economic Analysis, sales of lightweight vehicles in the U.S. rose from 13.5 million units in December 2022 to 16.1 million units in December 2023.
Which Firms Dominate The Automotive Composites Market Segments?
Major companies operating in the automotive composites market are BASF SE, General Electric Company, Compagnie de Saint-Gobain S.A, Toray Industries Inc., DuPont de Nemours Inc., Owens Corning Corporation, Lanxess AG, Teijin Ltd., Solvay S.A., Nippon Sheet Glass Co. Ltd., Avient Corporation, Johns Manville Corp., Hexcel Corporation, SGL Carbon India Private Limited, Gurit (Tianjin) Composite Material Co. Ltd., Momentive Performance Materials Inc., UFP Technologies Inc., Exel Composites plc, Mitsubishi Chemical Carbon Fiber and Composites Inc., Sigmatex Limited, Composites Evolution Ltd., Innegra Technologies LLC
What Trends Are Driving Growth in The Automotive Composites Market?
Companies in the automotive composites market are focusing on innovations like glass fiber composite technology to improve strength and reduce weight in vehicle manufacturing. Glass fiber composite materials are strong and lightweight, making them ideal for automotive applications. For example, in June 2024, Navrattan Group, an India-based technology company, introduced the E-Bus, built using composite fiber materials. This bus incorporates high-quality glass fiber composite technology and results in a lighter body and reduced gross vehicle weight, leading to improved efficiency in electric vehicle design.
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Which Is The Largest Region In The Automotive Composites Market?
Asia-Pacific was the largest region in the automotive composites market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive composites market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Automotive Composites Market?
2. What is the CAGR expected in the Automotive Composites Market?
3. What Are the Key Innovations Transforming the Automotive Composites Industry?
4. Which Region Is Leading the Automotive Composites Market?
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