The automotive composites market is expected to grow at a CAGR of 10.06%, reaching a market size of US$15.814 billion in 2030 from US$9.785 billion in 2025.
Automotive composites are light and compact materials mainly employed under the hood and in the interiors of trucks, cars, and other vehicles. Composites are employed for numerous interior and exterior applications because they are favoured materials for weight reduction in autos. Because of their outstanding dimensional stability, composite materials have become more prevalent in the automotive sector in recent years. Composites are desirable materials because of their shape retention, low coefficient of thermal expansion, corrosion resistance for performance in dry and wet situations, convenience of manufacturing, & low weight to reduce overall vehicle mass.
Compared to traditional structural metallic materials such as steel, iron, and aluminum, composites offer weight reduction benefits of 15-20% for glass fiber and 25-40% for carbon fiber composites. Moreover, many public-private partnership programs in EU member states have already been developed to boost the use of composites in the automotive sector. The creation of composites and automotive lightweight materials innovation clusters and collaborations with the automotive and chemical industries to support the investment through supply chain analysis of the automotive carbon fibre composites market are examples of such initiatives.
According to several experts, electric vehicles will allow for higher prices per kilo of weight saved in vehicle weight reduction measures. Typical IC engine automobiles can only afford to spend a couple of dollars for each kilogram of weight saved, whereas electric vehicles can save 7-8 dollars per kilogram. Cars waste a lot more energy while accelerating, according to the conventional driving cycles. However, they can also recuperate more kinetic energy using brake energy recovery. With respect to electric vehicles, a reduction in body mass would help maintain the range without affecting battery capacity. This decreases both electric vehicle body weights (including batteries) and overall vehicle weights through reductions induced by other systems. For instance, in the braking system and power train, if an additional Wayback loop is used in system design, it would also allow for downsizing other systems in the vehicle. ICE vehicles have been able to reduce pollution and improve performance due to reduced weight at the same power and torque of the drivetrain.
The requirement for lighter-weight materials that can enhance fuel mileage while reducing greenhouse gases has grown progressively over the past few years. Glass fibre composites are widely employed in the automotive industry since they are less expensive than carbon and natural fibre composites. Furthermore, natural fiber composites are used to make vehicle body sections like engine hoods, storage tanks, and dashboards, reducing the use of other metals like steel.
Exterior automobile applications for automotive composites include headlamps, heat-shielding components, and more. Many automakers are likewise emphasizing composites in their vehicle bodywork. For example, recent research indicates that reinforced thermoplastics could become the next big wave. The BMW i3 is the world's first mass-produced automobile with a thermoplastic composite exterior element. As an alternative to glass fibre as a lightweight solution, the automobile industry is increasingly adopting natural composites in the interior portions of vehicles.
The market for automotive composites presents more difficult recycling challenges than recycling for metallic materials. This is because the fibre reinforcement components are frequently joined to the other components, for example, by metal fasteners. The main challenge is the intricacy of disassembling, separating, and de-bonding automotive components for recycling. Moreover, separating individual materials from the composite is challenging, even if the parts can be split apart. This is because composites are made up of a mixture of materials and cannot be recycled or melted down. Hence, the market is being hampered by the different recycling regulations governing the plastic and composites industries and their inefficient recycling procedure.
Due to the highest number of automobiles present, particularly in China, India, and Thailand, Asia Pacific is the largest and fastest-growing region. Furthermore, India, Indonesia, Thailand, and China are predicted to have the greatest number of cars on the road and the largest markets for four-wheelers, fueling the market's expansion. As per the India Brand Equity Foundation (IBEF), in July 2023, 2.08 units of passenger vehicles, three-wheelers, two-wheelers, and quadricycles were produced in total, a trend expected to continue in the future decade. In addition, the biggest global suppliers seek to invest in Asia in a bid to increase their profits. To meet increasing demand, some of the largest automakers on the planet are setting up car plants in India, thus boosting the nation’s automotive composites sales.
| Report Metric | Details |
|---|---|
| Study Period | 2021 to 2031 |
| Historical Data | 2021 to 2024 |
| Base Year | 2025 |
| Forecast Period | 2026 – 2031 |
| Report Metric | Details |
| Automotive Composites Market Size in 2025 | US$9.785 billion |
| Automotive Composites Market Size in 2030 | US$15.814 billion |
| Growth Rate | CAGR of 10.06% |
| Study Period | 2020 to 2030 |
| Historical Data | 2020 to 2023 |
| Base Year | 2024 |
| Forecast Period | 2025 – 2030 |
| Forecast Unit (Value) | USD Billion |
| Segmentation |
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| Geographical Segmentation | North America, South America, Europe, Middle East and Africa, Asia Pacific |
| List of Major Companies in Automotive Composites Market |
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| Customization Scope | Free report customization with purchase |