Press release
2025-2034 Transportation Composites Market Outlook: Key Drivers, Emerging Challenges, and Strategic Insights
Transportation Composites Market
What Will the Transportation Composites Industry Market Size Be by 2025?
In recent times, there has been substantial growth in the size of the transportation composites market. The market, which was valued at $70.01 billion in 2024, is projected to escalate to $76.82 billion in 2025, with a compound annual growth rate (CAGR) of 9.7%. Factors that contributed to the growth during the historical period include the expansion of the automotive industry, the need for weight reduction and fuel efficiency, safety and crash performance considerations, cost curtailment initiatives, advancements in raw materials, enhanced production efficiency, and infrastructure development.
What's the Long-Term Growth Forecast for the Transportation Composites Market Size Through 2029?
The market size of transportation composites is set for a swift upturn in the coming years, ultimately reaching a market valuation of $116.89 billion by 2029, with a compound annual growth rate (CAGR) of 11.1%. This anticipatory expansion during the forecast period can be ascribed to tighter emission regulations, growing urbanization and infrastructure demands, the emergence of new market prospects, the uptake of biocomposites, government investment in research and development, and evolving consumer preferences. Key market trends expected during the forecast period incorporate the emphasis on recyclability and sustainability, the integration of intelligent materials, the formation of strategic alliances and affiliations, and advancements in resin matrix technologies.
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What Are the Key Growth Drivers Fueling the Transportation Composites Market Expansion?
The expansion of the automotive industry is contributing to the increased demand in the market for transportation composites. The automotive sector, involving the creation, marketing, and sale of motor vehicles, is experiencing growth due to rising income levels and improved living standards, which in turn stimulate demand for automobiles. With their superb strength and capacity for weight reduction, transportation composites are extensively utilised in the production of automobiles. For example, data from the Belgium-based European Automobile Manufacturers Association (ACEA) in May 2023 indicated a 5.7% boost in global motor vehicle production in 2022, with a total production of 85.4 million units, a significant increase in comparison to 2021 production numbers. As such, the escalating demand for automobiles is anticipated to continue driving growth in the transportation composites market.
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What Are the Key Trends Driving Transportation Composites Market Growth?
Leading entities in the transportation composites market are focusing on the development of eco-friendly transportation composites as a strategy for maintaining their market standing. These green transportation composites are lightweight, enduring materials that frequently utilize sustainable or recyclable elements, aiming to improve fuel effectiveness and decrease environmental harm in a range of transportation forms. For example, in May 2022, TRB Lightweight Structures, a company originating from the UK, which specializes in creating superior lightweight structures, entered into collaboration with Kordsa. The purpose of this joint venture was to encourage the continued development of eco-friendly lightweight composites for the automobile industry and to heighten the integration of environmental issues within transportation. Kordsa, a company based in the US, specializes in creating reinforcement technologies used in composite material production.
How Is the Transportation Composites Market Segmented?
The transportation composites market covered in this report is segmented -
1) By Resin: Thermoset, Thermoplastic
2) By Material Type: Glass Fiber, Natural Fiber, Carbon Fiber Composite, Aramid Fiber
3) By Manufacturing Process: Compression Molding, Injection Molding, Resin Transfer Molding, Other Manufacturing Processes
Subsegments:
1) By Thermoset: Epoxy Resins, Polyester Resins, Vinyl Ester Resins, Phenolic Resins
2) By Thermoplastic: Polypropylene (PP), Polyamide (PA), Polycarbonate (PC), Polyethylene (PE)
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Which Companies Are Leading the Charge in Transportation Composites Market Innovation?
Major companies operating in the transportation composites market are Hexcel Corporation, Mitsubishi Chemical Holdings Corporation, Owens Corning, Toray Industries Inc., Teijin Limited, Solvay S.A., Jushi Group Co. Ltd., SGL Carbon SE, Gurit Holding AG, Koninklijke DSM N.V., Huntsman Corporation LLC, DuPont de Nemours Inc., Momentive Performance Materials Inc., Veplas Group, B&T Composites SA, Champion Fiberglass Inc., Compotech Inc., Creative Composites Group, GSE Dynamics Inc., Middle River Aerostructures Systems, Nammo Composite Solutions LLC, 3M Company, BASF SE, Henkel AG & Co. KGaA, Saudi Basic Industries Corporation, Arkema S.A., Evonik Industries AG
Which Regions Are Leading the Global Transportation Composites Market in Revenue?
North Americawas the largest region in the transportation composites market in 2024. The regions covered in the transportation composites market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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