The Automotive Composites Market report by Business Market Insights, covering the complete Automotive Composites Market Report scope, delivers a comprehensive, rigorously structured, and data-driven analysis of the global automotive composite material industry spanning glass fiber and carbon fiber composites across thermoset and thermoplastic resin types through pultrusion, injection molding, and compression molding manufacturing technologies for passenger car, commercial vehicle, two-wheeler, and other vehicle types in structural assembly, powertrain component, and interior applications. This 150-page report combines qualitative automotive materials and composites industry insight with quantitative forecasting across fiber type, resin type, technology, vehicle type, and application segmentation dimensions, geographic markets, detailed Porter's Five Forces and SWOT analyses, and detailed competitive company profiles.
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Historic Period, Base Year, and Forecast Period
The report covers historical market data from 2021 through 2023, with 2024 serving as the base year for all market sizing and financial modeling. The forecast period extends from 2025 to 2031, delivering a seven-year projection horizon enabling long-term strategic planning and product development prioritization.
Market Segmentation Covered
By fiber type: glass fiber composites, carbon fiber composites, and others. By resin type: thermoset and thermoplastics. By technology: pultrusion, injection molding, and compression molding.
Geographic Coverage
North America covers the US, Canada, and Mexico. Europe includes Germany, Italy, France, UK, Spain, Belgium, Netherlands, Luxembourg, Norway, Finland, Denmark, Sweden, Switzerland, Austria, Greece, Portugal, Russia, Poland, Romania, Czech Republic, Ukraine, Slovakia, and Bulgaria. Asia-Pacific encompasses China, Japan, South Korea, India, Australia, New Zealand, Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam, Taiwan, and Bangladesh. South and Central America covers Brazil, Argentina, Chile, Colombia, and Peru. Middle East and Africa includes Saudi Arabia, UAE, Kuwait, Bahrain, Qatar, Oman, Turkiye, South Africa, Egypt, Nigeria, and Algeria.
Key Companies Profiled
Gurit Holdings AG, Hexcel Corp, Mitsubishi Chemical Group, SGL Carbon SE, Solvay SA, Teijin Ltd., DuPont de Nemours Inc., Toray Industries, Atlas Fibre, and Elaghmore Advisor LLP.
Automotive Composites Market Drivers and Opportunities:
Increase in Adoption of Electric Vehicles
The rise in fuel prices and the environmental impact of conventional gasoline vehicles have paved the way for alternative fuel vehicles across the globe. Buyers are gradually getting inclined to use battery-powered or hybrid automobiles, which is anticipated to boost the demand for electric vehicles. According to the International Energy Agency's annual Global Electric Vehicle Outlook, over 10 million electric cars were sold worldwide in 2022, and the number is projected to grow by 35% in 2023 to reach 14 million. As the automotive industry witnesses a transformative shift toward electric vehicles (EVs), the role of composites has become more crucial. To promote the sale of EVs, governments are providing attractive laws and incentives. Reduced selling costs, no registration fees or minimal registration fees, and free EV infrastructure charging at various charging points are a few of these incentives. Furthermore, many countries worldwide exclude import, purchase, and road taxes due to multiple subsidies. These auto industry incentives have led to a rise in the manufacture of electric vehicles. Governments have also created beneficial policies and invested heavily in infrastructure. For example, the US government plans to spend US$ 87 billion on new highway construction over the next five years
Growth of Automotive Industry in Emerging Economies
In the last few years, the automotive industry has grown significantly across emerging economies such as Brazil, China, India, Mexico, and South Africa. With the increasing disposable income, the demand for both passenger and commercial vehicles is growing in developing countries. For instance, according to the Federation of Automobile Dealers Associations (FADA), in India, sales of passenger vehicles increased to 2,854,242 units in November 2023, compared with 2,409,535 units in November 2022. Similarly, according to the China Association of Automobile Manufacturers (CAAM), the sales of commercial vehicles accounted for 18.3% year-on-year for September 2023 in China. These stats show the increasing demand for vehicles.
The automotive industry also paved its way in Brazil and South Africa. According to the International Organization of Motor Vehicle Manufacturers (OICA), South Africa's automobile production increased by 24% to 555,889 units in 2022. According to the same source, Brazil was the largest manufacturer and exporter of light and commercial vehicles in 2023 in South & Central America. The country reported production of 2.3 million vehicles in 2022. Thus, the growth of automotive industries in emerging economies is expected to create lucrative opportunities for the automotive composites market growth.
Frequently Asked Questions
What does the Automotive Composites Market report cover? The 150-page report covers market size and forecast at global, regional, and country levels across fiber type, resin type, technology, vehicle type, and application segments, along with market dynamics, Porter's Five Forces, SWOT analysis, competitive landscape, and detailed company profiles.
What is the base year and forecast period for this report? The base year is 2024, with a forecast period of 2025 to 2031 and historical data covering 2021 to 2023.
Which companies are profiled in the Automotive Composites Market report? Key companies include Gurit Holdings AG, Hexcel Corp, Mitsubishi Chemical Group, SGL Carbon SE, Solvay SA, Teijin Ltd., DuPont de Nemours Inc., Toray Industries, Atlas Fibre, and Elaghmore Advisor LLP.
What manufacturing technologies does the report cover? The report covers pultrusion, injection molding, and compression molding as the primary composite manufacturing technology platforms, with injection molding being the dominant technology for high-volume thermoplastic automotive composite production.
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