Press release
Automotive Glass Fiber Composites Market to Reach US$11.4 Bn by 2031, Growing at a 5.9% CAGR | Persistence Market Research
Automotive Glass Fiber Composites Market
Glass fiber composites, known for their superior strength-to-weight ratio, corrosion resistance, and design flexibility, are widely used in the production of automotive components such as bumpers, hoods, panels, and underbody shields. Among all applications, the interior segment is anticipated to lead due to the material's excellent moldability and aesthetics. Regionally, Asia Pacific dominates the market, owing to the presence of major automotive hubs and growing demand for passenger vehicles in emerging economies like China and India.
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✅Key Highlights from the Report:
➤ The automotive glass fiber composites market is projected to reach US$11.4 Bn by 2031.
➤ Market value stood at US$7.6 Bn in 2024.
➤ The industry is expected to grow at a CAGR of 5.9% from 2024 to 2031.
➤ Interior components are the leading application segment.
➤ Asia Pacific holds the largest market share due to expanding automotive production.
➤ Lightweight and fuel-efficient vehicle trends continue to drive composite demand.
📊 Market Segmentation:
The automotive glass fiber composites market is segmented based on product type, including thermoplastic and thermoset composites. Thermoplastic composites are gaining popularity due to their recyclability, faster processing times, and higher impact resistance. Meanwhile, thermoset composites, though more traditional, are still used for structural parts requiring high strength and heat resistance.
In terms of application areas, the market is divided into interior, exterior, structural, powertrain, and others. The interior segment currently dominates, benefitting from the ability of glass fiber composites to offer lightweight, aesthetically pleasing, and durable parts such as dashboards, door panels, and trims. However, structural components are also increasingly adopting composites to reduce vehicle weight and comply with global emissions regulations.
📊 Regional Insights:
Asia Pacific leads the global automotive glass fiber composites market, fueled by its strong automotive manufacturing base and rising demand for fuel-efficient, cost-effective vehicles. Countries like China, India, South Korea, and Japan are witnessing increased production and adoption of advanced materials in both economy and premium car segments.
North America and Europe follow closely, with well-established automotive industries and regulatory support for lightweight, sustainable mobility solutions. In these regions, OEMs are investing heavily in composite materials to meet CO2 reduction targets and enhance EV performance and range.
Market Drivers
The primary growth driver is the automotive industry's demand for lightweighting solutions. As global regulations push for improved fuel economy and reduced emissions, glass fiber composites offer a cost-effective alternative to metal components without compromising safety or performance. Their high strength-to-weight ratio allows automakers to improve energy efficiency and extend electric vehicle range.
Another key driver is the rise in electric vehicle (EV) production, where weight reduction plays a crucial role in optimizing battery performance. Additionally, the growing popularity of composite-intensive architectures, especially in EVs and hybrids, is contributing to increased adoption of glass fiber materials across vehicle segments.
Market Restraints
Despite their advantages, glass fiber composites face certain limitations. High manufacturing costs, especially for custom-molded components, can be a barrier for mass-market adoption. In addition, limited recycling infrastructure and challenges in the separation of composite materials from mixed waste streams raise environmental concerns.
The availability of alternative materials, such as carbon fiber composites and advanced metals, also creates competition. While glass fiber offers a balance between cost and performance, some premium vehicle manufacturers prefer more advanced or luxury materials that better align with branding and performance metrics.
Market Opportunities
Opportunities abound in the development of recyclable and bio-based composites, which align with global sustainability goals. R&D investments aimed at improving the lifecycle performance of glass fiber composites are expected to enhance their appeal in both OEM and aftermarket applications.
There's also considerable potential in emerging markets, where rapid urbanization and rising disposable income are driving vehicle ownership. Expanding the use of composites in two-wheelers, electric scooters, and light commercial vehicles in regions like Southeast Asia, Latin America, and Africa presents untapped avenues for growth.
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👉Frequently Asked Questions (FAQs):
➤ How Big is the Automotive Glass Fiber Composites Market in 2024?
➤ What is the Projected Growth Rate of the Automotive Glass Fiber Composites Market by 2031?
➤ Who are the Key Players in the Global Automotive Glass Fiber Composites Market?
➤ What is the Market Forecast for Automotive Glass Fiber Composites for 2032?
➤ Which Region is Estimated to Dominate the Industry through the Forecast Period?
📌 Key Players
Leading players in the global automotive glass fiber composites market include:
✦ Owens Corning
✦ Saint-Gobain Vetrotex
✦ PPG Industries
✦ Johns Manville
✦ Nippon Electric Glass Co., Ltd.
✦ Jushi Group Co., Ltd.
✦ Taishan Fiberglass Inc.
✦ Binani Industries Ltd.
✦ Chongqing Polycomp International Corp. (CPIC)
✦ 3B-the fibreglass company
Recent Developments:
■ Owens Corning introduced a new glass fiber formulation in 2024 aimed at enhancing thermoplastic composite compatibility in automotive applications.
■ Jushi Group announced the expansion of its production facility in 2025 to meet growing demand in Asia and Europe.
The automotive glass fiber composites market is on a clear growth trajectory, fueled by lightweighting demands, sustainability goals, and innovations in electric and hybrid vehicle design. With a projected market value of US$11.4 billion by 2031, and a solid CAGR of 5.9%, the industry offers vast potential for component manufacturers, OEMs, and material suppliers.
As Asia Pacific continues to dominate and other regions invest in eco-friendly transportation, stakeholders must focus on advancing composite performance, affordability, and recyclability. Those who innovate in material science and scale smartly across global platforms will be best positioned to drive the next generation of automotive design forward.
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At Persistence Market Research, we specialize in creating research studies that serve as strategic tools for driving business growth. Established as a proprietary firm in 2012, we have evolved into a registered company in England and Wales in 2023 under the name Persistence Research & Consultancy Services Ltd. With a solid foundation, we have completed over 3600 custom and syndicate market research projects, and delivered more than 2700 projects for other leading market research companies' clients.
Our approach combines traditional market research methods with modern tools to offer comprehensive research solutions. With a decade of experience, we pride ourselves on deriving actionable insights from data to help businesses stay ahead of the competition. Our client base spans multinational corporations, leading consulting firms, investment funds, and government departments. A significant portion of our sales comes from repeat clients, a testament to the value and trust we've built over the years.
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