Germany Automotive Composites Market Size (2024 - 2029)

Germany Automotive Composites Market Analysis

The Germany Automotive Composites Market size is estimated at USD 4.5 billion in 2024, and is expected to reach USD 10.40 billion by 2029, growing at a CAGR of 14.98% during the forecast period (2024-2029).

• The COVID-19 pandemic had a significant impact on the German automotive composites market. The market was already facing challenges due to rising raw material prices and increasing competition from other materials. However, the pandemic exacerbated these challenges and led to a decline in demand for automotive composites. But as the situation gets normalized, the market has gained its stable position.
• To meet the emissions regulations and policies, OEMs are trying to reduce the weight of automobiles by employing lightweight composites. Composites have been adapted as the primary strategy. High-speed production, accuracy, stability, strength-to-weight ratio, better finish, and simple assembly are some of the many reasons to employ composite materials. However, high costs associated with carbon fiber composites and glass fiber composites are hindering the growth of the market, as their usage in low-cost vehicles could drastically increase the prices of such vehicles. OEMs are investing in R&D to develop inexpensive methods to make the composites available to a wide range of customers.
• Presently, composite materials, like thermoplastics and reinforced glass, have drawn the attention of carmakers, making them focus on sourcing better, tensile, and lighter components in the manufacture of automobile units.

Germany Automotive Composites Industry Segmentation

Automotive composites refer to materials used in the construction of vehicles that are composed of two or more distinct components. These composites are designed to provide a combination of desirable properties such as strength, lightweight, durability, and corrosion resistance, making them well-suited for use in the automotive industry.

The German automotive composites market is segmented by production type, material type, and by application type. By production type, the market is segmented into hand layup, resin transfer molding, vacuum infusion procession, injection molding, and compression molding. By material type, the market is segmented into thermoset polymer, thermoplastic polymer, carbon fiber, glass fiber, and other material types. By application type, the market is segmented into structural assembly, power train components, interior, exterior, and other applications.

The market sizing has been done in value terms in USD for all the abovementioned segments.