What is the current Automotive Composites Market size?

The Automotive Composites Market is projected to register a CAGR of greater than 13% during the forecast period (2024-2029) Read More

Who are the key players in Automotive Composites Market?

Hexcel Corporation, Mitsubishi Chemical Carbon Fiber and Composites, Inc., SGL Carbon, Toray Industries Inc and Teijin Ltd are the major companies operating in the Automotive Composites Market. Read More

Which is the fastest growing region in Automotive Composites Market?

Europe is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Automotive Composites Market?

In 2024, the Asia Pacific accounts for the largest market share in Automotive Composites Market. Read More

What years does this Automotive Composites Market cover?

The report covers the Automotive Composites Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Automotive Composites Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Automotive Composites Market - Size, Trends & Revenue

Automotive Composites Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers Global Automotive Composites Materials Market Analysis & Industry Share and it is Segmented by Application Type (Structural Assembly, Powertrain Component, Interior, Exterior), Material Type (Thermoset Polymer, Thermoplastic Polymer, Carbon Fiber, and Glass Fiber), and Geography (North America, Europe, Asia-Pacific, and Rest of the World). The report offers market size and forecasts for Automotive Composites Market in terms of Value (USD billion) for all the mentioned segments.

Automotive Composites Industry Overview

Companies, such as Toho Tenex (Teijin Ltd), Toray Industries Inc, Mitsubishi Chemical Carbon Fiber and Composites, Inc., and SGL Carbon, are some of the major players in the market studied. Companies are trying to invent new composites that can reduce the vehicle's total weight to much lower proportions. For instance,

In June 2021, Mitsubishi Chemical Co., Ltd. announced the development of a new carbon fiber prepreg that can be used as a part of an automotive engine.
In March 2021, Hexcel joined ASCEND Project, aiming to improve high-rate manufacturing and processing technologies to develop lightweight advanced composite materials for the automotive and aerospace industry.

BMW has adopted carbon fiber reinforced plastic in a mixed-material approach. Its German competitor, Audi, is also using the material to produce the rear wall of the space frame for its A8 luxury sedan. This part provides around 40% of the vehicle's overall torsional rigidity, making it suitable for manufacture with CFRP. The part is around 50% lighter in weight than its metallic predecessor.