Automotive Composites Market Size, Market Share, Price and Growth Rate Research Report 2025 | Expert Review

The automotive composites industry is gaining momentum as lightweight, durable, and sustainable materials become vital for modern mobility. Driven by rising EV adoption, fuel efficiency goals, and emission regulations, composites are increasingly used in structural and interior applications. Key players like Toray Industries, Hexcel, SGL Carbon, Teijin, and Gurit are driving innovation to meet evolving automotive needs.
The automotive composites market is projected to grow from USD 9.69 billion in 2024 to USD 37.54 billion by 2034, at a CAGR of 14.5% during the forecast period. The research report provides access to critical information such as automotive composites market growth [https://www.marketsandmarkets.com/Market-Reports/automotive-composite-market-10869121.html?utm_source=abnewswire.com&utm_medium=referral&utm_campaign=automotivecomposite] drivers, market growth restraints, current market trends, the market's economic and financial structure, and other key market details.

The demand for automotive composites is driven by growing government focus and initiatives aiming to reduce the carbon emission along with high shift towards the electric vehicles across the globe. The growing adoption of electric vehicles and fuel efficient vehicles are expected to fuel the demand for automotive composites from various applications. Stricter environmental laws about the automotive emissions are effectively promoting the high usage of composites across the world.

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Carbon fiber type is expected to grow with highest CAGR in automotive composites market during the forecasted period.

The automotive composites market is segmented based on the fiber type into glass fiber, carbon fiber and other fibers that includes aramid, basalt, natural and hybrid fibers. As compared to glass fibers, carbon fibers are 30% lighter in weight and also offer almost double strength. Due to this impressive strength -to-weight ratio, carbon fiber composites are estimated to be fastest-growing segment based on the fiber type. Carbon fiber composites helps to reduce carbon emission and footprint of automotives by making them more environment friendly as compared to other gasoline-powered vehicles.

Thermoplastic resins segment is expected to grow with highest CAGR in automotive composites market during the forecasted period.

The automotive composites market is segmented based on resin type. Thermoplastic resins are expected to show highest growth due to recyclability. Even though thermoplastic resins are considered to be ecofriendly, thermoset resins accounts for larger share in the global automotive composites market. These resins can be easily combined with continuous fibers to create structural composite products that offers several key advantages. Thermoplastic automotive composites can be reformed and reshaped efficiently, making them easily recyclable.

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Asia Pacific region dominated the global automotive composites market in terms of value

In terms of value, Asia Pacific accounted for the largest market share in the global automotive composites market, in 2023. The region is a hub of many major automakers. China is the largest manufacturer of vehicles across the world. The demand for automotive composites is showing significant growth in the region due to the growing need for eco-friendly, lightweight, and fuel-efficient vehicles. Automakers are focusing on manufacturing lightweight car bodies owing to various emission norms imposed by the government. The automotive composites market in Asia Pacific region has presence of many well-established suppliers for raw materials, composite manufacturers and OEMs.

Automotive Composites Companies [https://www.marketsandmarkets.com/ResearchInsight/automotive-composite-market.asp?utm_source=abnewswire.com&utm_medium=referral&utm_campaign=automotivecomposite]

Prominent companies include Toray Industries, Inc. (Japan), SGL Carbon (Germany), POLYTEC HOLDING AG, ElringKlinger AG (Germany), Syensqo (Belgium), HENGRUI CORPORATION (HRC) (China), Exel Composites (Finland), Teijin Limited (Japan), Mitsubishi Chemical Group Corporation (Japan), Piran Advanced Composites (UK), IDI Composites International (US), and Rochling SE & Co. KG (Germany) and among others.

Teijin Limited (Japan)

Teijin Limited is identified as one of the key players in the global automotive composites market. Teijin Automotive Technologies (Principal subsidiary of Teijin Limited) has been manufacturing automotive composites in China since 2015, mainly for EV battery covers, battery shields, underbody shields, structural inner panels, and exterior body panels. Teijin Limited is expanding its global reach by entering into agreements and partnerships with other companies in the market. It is also acquiring major suppliers to boost its production capacity to meet the increasing demand. It spends significantly on research & development for newer products.

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Toray Industries, Inc. (Japan)

Toray Industries, Inc. is a leading player in the automotive composites market, specializing in manufacturing advanced prepreg materials that cater to the high-performance automotive sector. Their product portfolio includes thermoset and thermoplastic composites designed to meet the rigorous demands of automotive applications, including structural components and body panels. Toray's prepregs are known for their lightweight properties, offering up to 30% weight reduction compared to aluminum and 70% compared to steel, making them ideal for enhancing fuel efficiency and meeting stringent CO2 emission regulations.

Mitsubishi Chemical Group Corporation (Japan)

Mitsubishi Chemical Group Corporation (MCG) is a prominent player in the automotive composites market, offering a diverse range of products designed to enhance vehicle performance and sustainability. The company specializes in carbon fiber-reinforced polymers, glass fiber-reinforced thermoplastics, and innovative prepreg materials, which are utilized in various automotive applications such as body panels, structural components, and interior parts.

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