Automotive Composites Market Size, Share, Industry Trends and Forecast to 2033
This report provides an in-depth analysis of the Automotive Composites market forecasting from 2023 to 2033. It includes insights on market conditions, size, growth rates, regional breakdowns, industry dynamics, and key competitive players.
| Metric | Value |
|---|---|
| Study Period | 2023 - 2033 |
| 2023 Market Size | $13.50 Billion |
| CAGR (2023-2033) | 6.8% |
| 2033 Market Size | $26.53 Billion |
| Top Companies | Toray Industries, Inc., BASF SE, SGL Carbon SE |
| Last Modified Date | 15 Nov 2024 |
Automotive Composites Market Report (2023 - 2033)
Automotive Composites Market Overview
What is the Market Size & CAGR of Automotive Composites market in 2023?
Automotive Composites Industry Analysis
Automotive Composites Market Segmentation and Scope
Request a custom research report for industry.
Automotive Composites Market Analysis Report by Region
Europe Automotive Composites Market Report:
Europe remains a leading market for Automotive Composites, with a size of $3.92 billion in 2023 anticipated to grow to $7.71 billion by 2033. The focus on sustainability and stringent regulations on emissions drives the adoption of advanced composite materials in this region.Asia Pacific Automotive Composites Market Report:
The Asia Pacific region is witnessing robust growth in the Automotive Composites market, driven by rising automotive production and demand for lightweight materials in countries like China and Japan. The market size is projected to grow from $2.39 billion in 2023 to $4.70 billion by 2033, showcasing a significant CAGR of over 7%.North America Automotive Composites Market Report:
North America holds a considerable share of the Automotive Composites market, valued at $5.18 billion in 2023 and expected to nearly double to $10.18 billion by 2033. The region benefits from a well-established automotive industry and a strong emphasis on research and innovation in composite materials.South America Automotive Composites Market Report:
In South America, the Automotive Composites market is expanding gradually, with an estimated market size of $0.85 billion in 2023, projected to reach $1.67 billion by 2033. This growth is fueled by increasing vehicle manufacturing and rising interest in green technologies.Middle East & Africa Automotive Composites Market Report:
The Middle East and Africa region is witnessing gradual growth in the automotive composites sector, with a market size of $1.16 billion in 2023 projected to reach $2.27 billion by 2033. The rising demand for high-performance vehicles and investment in automotive sectors are key factors contributing to this growth.Request a custom research report for industry.
Automotive Composites Market Analysis By Material
Global Automotive Composites Market, By Material Market Analysis (2023 - 2033)
Fiber Reinforced Composites are expected to dominate the market, growing from $11.77 billion in 2023 to $23.13 billion by 2033, holding an 87.16% market share. In contrast, matrix materials will also see growth from $1.73 billion to $3.41 billion, covering the remaining share.
Automotive Composites Market Analysis By Application
Global Automotive Composites Market, By Application Market Analysis (2023 - 2033)
When segmented by application, exterior parts will lead the market, expanding from $8.68 billion in 2023 to $17.06 billion in 2033, with a consistent share of 64.31%. Interior parts and structural parts will also contribute, growing steadily across the decade.
Automotive Composites Market Analysis By Manufacturing Process
Global Automotive Composites Market, By Manufacturing Process Market Analysis (2023 - 2033)
Compression molding will continue to be the dominant manufacturing process for automotive composites, maintaining a strong share of 64.31%. Injection molding and lay-up techniques are also critical industrial practices, projected to grow concurrently with the market.
Automotive Composites Market Analysis By End User
Global Automotive Composites Market, By End-User Market Analysis (2023 - 2033)
The market defined by end-users shows that Original Equipment Manufacturers (OEMs) will account for a substantial $11.77 billion in 2023, surging to $23.13 billion by 2033, maintaining an 87.16% market share through the decade.
Automotive Composites Market Analysis By Region Application
Global Automotive Composites Market, By Application Type Market Analysis (2023 - 2033)
Electric vehicles are forecasted to dominate the application segment significantly, growing from $11.77 billion in 2023 to $23.13 billion by 2033, while conventional vehicles will expand more slowly from $1.73 billion to $3.41 billion.
Automotive Composites Market Trends and Future Forecast
Request a custom research report for industry.
Global Market Leaders and Top Companies in Automotive Composites Industry
Toray Industries, Inc.:
Toray is a global leader in advanced composite materials, known for its innovations in high-strength fiber products and applications in automotive manufacturing.BASF SE:
BASF is a leading chemical company that produces a wide range of automotive composites and resins, focusing on sustainability and performance.SGL Carbon SE:
SGL Carbon specializes in carbon-based composites, offering lightweight solutions for high-performance automotive applications.We're grateful to work with incredible clients.
Related Industries
FAQs
What is the market size of automotive composites?
The automotive composites market is currently valued at approximately $13.5 billion, with a projected compound annual growth rate (CAGR) of 6.8% from 2023 to 2033.
What are the key market players or companies in the automotive composites industry?
Key players in the automotive composites market include major automotive OEMs like Ford, GM, and BMW, alongside composite material suppliers like Toray Industries, BASF, and SGL Carbon, which focus on innovative composite solutions.
What are the primary factors driving the growth in the automotive composites industry?
Growth factors in the automotive composites industry include the increasing demand for lightweight materials for fuel efficiency, the rise of electric vehicles requiring advanced materials, and growing regulatory pressures for emissions reduction.
Which region is the fastest-growing in automotive composites?
Asia Pacific is currently the fastest-growing region for automotive composites, with market growth from $2.39 billion in 2023 to $4.70 billion by 2033, driven by increasing automotive production in countries like China and India.
Does ConsaInsights provide customized market report data for the automotive composites industry?
Yes, ConsaInsights offers customized market reports tailored to specific client needs within the automotive composites industry, ensuring relevant insights and data that align with particular business objectives.
What deliverables can I expect from this automotive composites market research project?
From the automotive composites market research project, clients can expect comprehensive reports including market size forecasts, competitive landscape analysis, segmentation breakdowns, and regional growth projections.
What are the market trends of automotive composites?
Current trends in the automotive composites market include the increasing use of fiber-reinforced composites in electric vehicles, a shift towards sustainable materials, and advancements in processing techniques like injection molding and compression molding.