Impact Of Demand For Lightweight And Fuel-Efficient Vehicles On The Automotive Composites Market Emerges as a Core Driver of the Automotive Composites Market in 2025

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What Is the Expected CAGR for the Automotive Composites Market Through 2025?
In recent times, there has been a substantial increase in the size of the automotive composites market. The market is projected to expand from $8.14 billion in 2024 to $9.06 billion in 2025, indicating a compound annual growth rate (CAGR) of 11.3%. The elevation seen in the past period is credited to raising demand for lightweight automobiles, the swelling size of the electric vehicle market, stricter emission standards imposed by the government, a surge in the worldwide production of vehicles, and a rise in the customer preference for high-performance vehicles that offer superior fuel efficiency and safety aspects.

What's the Projected Size of the Global Automotive Composites Market by 2029?
The market size for automotive composites is projected to experience significant expansion in the next few years. The estimated growth is $13.8 billion by 2029, with a compound annual growth rate of 11.1%. The predicted growth during the forecasted period is linked to the continued increase in the EV market, heightened focus on materials recycling and reutilization driving the rise in the development of ecofriendly composite solutions, quick industrial growth, a spike in research and development investments, and the broadening of the charging infrastructure. Noteworthy trends during the forecasted period comprise of 3D printing and additive manufacturing, the integration of nanoparticles, a surge in the utilization of renewable and bio-based materials, the evolution of advanced software tools for the optimisation of the structure of composite parts, and the invention of superior coatings.

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Top Growth Drivers in the Automotive Composites Industry: What's Accelerating the Market?
The growth of the automotive composites market is anticipated to be fueled by the escalating demand for lightweight and fuel-efficient vehicles. Such vehicles are specifically designed to reduce weight and consumption of fuel by using lightweight materials like composites and alloys, in turn minimizing the emission and enhancing performance. The increasing preference for these types of vehicles can be attributed to regulatory demands for reduced emissions, desires of consumers for better fuel economy, and progress in material technology that allows for stronger yet lighter vehicle parts. Automotive composites are employed in place of traditional materials like steel, leading to weight reduction of the vehicles and improved fuel efficiency thanks to their superior strength-to-weight ratio and design flexibility. For instance, the Bureau of Economic Analysis, a US-based government agency, stated in June 2024 that the sales of lightweight vehicles, including cars and light trucks, have increased from 13.5 million units in December 2022 to 16.1 million units by December 2023 in the USA. Hence, this rising demand for lightweight and fuel-efficient vehicles is expected to continue driving the growth of the automotive composites market.

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What Trends Will Shape the Automotive Composites Market Through 2029 and Beyond?
Prominent companies in the automotive composites market are concentrating on generating innovations such as the glass fiber composite technology in an effort to boost strength and decrease weight in vehicle production. Glass fiber composite technology involves inserting the glass fibers in a resin matrix, crafting durable, lightweight materials to be employed in multiple applications, including but not limited to automotive parts. For example, Navrattan Group, an India-based tech enterprise, introduced the E-Bus, made from composite fiber materials, in June 2024. The high-grade glass fiber composite technology combined with the coordinated procedures used in the E-Bus signifies an advancement in the design of electric vehicles. This use of such superior materials leads to a drop in both the body and gross vehicle weight, thereby vastly improving the bus's overall effectiveness.

What Are the Main 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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Which Top Companies are Driving Growth in the Automotive Composites Market?
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

Which Regions Will Dominate the Automotive Composites Market Through 2029?
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.

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