Automotive Composites Market to Expand at 4.2% CAGR, Reaching New Milestones by 2033

The glass fiber segment dominated the market in 2023, accounting for over four-fifths of the global automotive composites market revenue.

WILMINGTON, DE, UNITED STATES, March 17, 2025 /EINPresswire.com/ -- Allied Market Research has published a report titled "Automotive Composites Market by Fiber Type (Glass Fiber, Carbon Fiber, and Others), Resin Type (Thermoset and Thermoplastic), and Application (Exterior, Interior, and Others): Global Opportunity Analysis and Industry Forecast, 2024-2033." According to the report, the global automotive composites market was valued at $9.8 billion in 2023 and is projected to reach $14.7 billion by 2033, growing at a CAGR of 4.2% from 2024 to 2033.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰: https://www.alliedmarketresearch.com/request-sample/A09125

Key Growth Drivers

- Increasing environmental regulations and sustainability goals

- Rising demand for lightweight vehicles

- Rapid evolution of consumer preferences and automotive trends

Opportunities:

- Advancements in material science and manufacturing technologies

- Supportive government regulations and initiatives

Restraints

- High initial investment costs

Segment Analysis:-

By Fiber Type:

The glass fiber segment dominated the market in 2023, accounting for over four-fifths of the global automotive composites market revenue. Glass fiber-reinforced plastics (GFRP) are crucial in reducing vehicle weight while maintaining structural integrity, enhancing fuel economy, and lowering CO₂ emissions.

By Resin Type:

The thermoset segment held the highest market share in 2023, contributing to more than two-thirds of the total revenue. Thermoset resins offer superior resistance to heat, corrosion, and environmental stresses, making them ideal for critical vehicle components such as engine covers and body panels.

By Application:

The interior segment led the market in 2023, capturing two-fifths of the total revenue. Lightweight composites such as carbon fiber and thermoplastics are gaining traction due to their contribution to fuel efficiency, sustainability, and the growing adoption of electric vehicles (EVs).

Regional Insights:

Asia-Pacific emerged as the dominant regional market in 2023, with a CAGR of 4.4%. The region, led by China, Japan, South Korea, and India, is a significant automotive manufacturing hub. The demand for lightweight materials is rising in response to stricter emissions regulations and the increasing adoption of electric and hybrid vehicles.

Leading Market Players:

- Toray Industries, Inc.

- SGL Carbon SE

- Teijin Limited

- Hexcel Corporation

- Owens Corning

- Mitsubishi Chemical Holdings Corporation

- Gurit Holding AG

- Solvay S.A.

- TenCate Advanced Composites

- Huntsman Corporation

These key players are adopting strategies such as product launches, collaborations, and expansions to strengthen their market presence. The report provides insights into their business performance, product portfolio, and strategic initiatives.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐢𝐧 𝐏𝐫𝐨𝐜𝐮𝐫𝐢𝐧𝐠 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐕𝐢𝐬𝐢𝐭 𝐇𝐞𝐫𝐞: https://www.alliedmarketresearch.com/automotive-composites-market/purchase-options

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

David Correa
Allied Market Research
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