Italy Automotive Composites Market Size (2024 - 2029)

The Italy Automotive Composites Market is anticipated to experience growth despite challenges such as a global economic slowdown and reduced automobile demand due to trade tensions and the COVID-19 pandemic. The market's expansion is supported by the presence of luxury supercar brands that extensively use composite materials to enhance vehicle performance and reduce weight. However, the high manufacturing costs of these materials pose a challenge, as they contribute to elevated product prices, limiting affordability for some consumers.

Home Market Analysis Automotive Research Automotive Materials & Coatings Research Automotive Materials Research Automotive Composites Research Italy Automotive Composites Market Market Size

Market Size of Italy Automotive Composites Industry

Single User License

$4750

Team License

$5250

Corporate License

$8750

Book before:
Italy Automobile Composites Market_Overview
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 6.00 %
Market Concentration Low

Major Players

Italy Automotive Composites Market Major Players

*Disclaimer: Major Players sorted in no particular order

Need a report that reflects how COVID-19 has impacted this market and its growth?

Single User License

$4750

Team License

$5250

Corporate License

$8750

Book before:

Italy Automotive Composites Market Analysis

The Italy Automotive Composites Market is projected to grow with a CAGR of more than 6 % during the forecast period.

  • Owing to several factors like, a slowdown in world economy, United States and China trade tensions and the outbreak of global pandemic situation of COVID-19 the automobile demand in the country are weak as compared to previous years.
  • In the year 2019, the country managed to record a sale of 1,916,320 units, with a slight 0.3% increase from that of 2018, according to the Italian automobile manufacturers association (ANFIA).
  • Owing to the presence of many supercar brands like Lamborghini, Pagani, Ferrari which use composite materials very extensively with an aim to reduce the overall weight of the vehicle and enhance the engine performance are driving factors for the market.
  • However, the high cost of manufacturing these materials will be a restraining factor for the market as its high cost are visible in the product price and many people are not able to afford it because of that. For instance, in August 2019, Pagani introduced Huayra Roadster B.C., which is priced at USD 4.5 million and this high price is attributed with the use of new kind of carbon-fiber and carbon-titanium to build the car out of, exclusive materials that up torsional rigidity by 12 percent; and flexional rigidity by 20 percent.

Italy Automotive Composites Industry Segmentation

The Italy Automotive Composites Market report covers a detailed study on the latest trends and innovations in the market which is Production Type (Hand Layup, Resin Transfer Molding, Vacuum Infusion Processing, Injection Molding and Compression Molding), Material Type (Thermoset Polymer, Thermoplastic Polymer, Carbon Fiber, Glass Fiber and Others), by Application Type (Structural Assembly, Powertrain Components, Interior, Exterior and Others). Along with the major players, their strategies, innovations, technological advancements and financials are also covered in the report.

Production Type
Vacuum Infusion Processing
Injection Molding
Compression Molding
Others
Material Type
Thermoset Polymer
Thermoplastic Polymer
Carbon Fiber
Others
Application Type
Structural Assembly
Power Train Components
Interior
Exterior
Others
Need A Different Region Or Segment?
Customize Now

Italy Automotive Composites Market Size Summary

The Italy Automotive Composites Market is anticipated to experience significant growth over the forecast period, driven by the increasing use of composite materials in the automotive sector. Despite challenges such as a global economic slowdown and trade tensions, the market is buoyed by the presence of luxury supercar brands like Lamborghini, Pagani, and Ferrari, which extensively utilize composites to enhance vehicle performance and reduce weight. These brands have seen robust demand globally, with their vehicles incorporating advanced materials like carbon fiber to improve fuel efficiency and reduce emissions. However, the high manufacturing costs of these materials pose a challenge, as they translate into higher product prices, limiting affordability for some consumers.

The market landscape is characterized by fragmentation, with numerous players holding small shares. Companies such as 3B Fiberglass, Solvay, Teijin, BASF, and Gurit are prominent in this space. The demand for carbon fiber is expected to rise, supported by new partnerships and technological advancements in manufacturing automotive components. This growth is further bolstered by initiatives like Mitsubishi Chemical Corporation's new carbon fiber processing plant in Italy, aimed at meeting the needs of European automobile OEMs. The use of composites in exterior vehicle parts is gaining traction due to their durability and safety benefits, contributing to the market's expansion in Italy.

Explore More

Italy Automotive Composites Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Drivers

    2. 1.2 Market Restraints

    3. 1.3 Porters Five Forces Analysis

      1. 1.3.1 Threat of New Entrants

      2. 1.3.2 Bargaining Power of Buyers/Consumers

      3. 1.3.3 Bargaining Power of Suppliers

      4. 1.3.4 Threat of Substitute Products

      5. 1.3.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Production Type

      1. 2.1.1 Vacuum Infusion Processing

      2. 2.1.2 Injection Molding

      3. 2.1.3 Compression Molding

      4. 2.1.4 Others

    2. 2.2 Material Type

      1. 2.2.1 Thermoset Polymer

      2. 2.2.2 Thermoplastic Polymer

      3. 2.2.3 Carbon Fiber

      4. 2.2.4 Others

    3. 2.3 Application Type

      1. 2.3.1 Structural Assembly

      2. 2.3.2 Power Train Components

      3. 2.3.3 Interior

      4. 2.3.4 Exterior

      5. 2.3.5 Others

Italy Automotive Composites Market Size FAQs

The Italy Automotive Composites Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)

3B Fiberglass, Teijin, Solvay, BASF and Gurit are the major companies operating in the Italy Automotive Composites Market.

Italy Automotive Composites Report Snapshots

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